TELUS International: FIL/Pandanus Disclose 11.5% Holding

Rhea-AI Filing Summary

FIL Limited and affiliated entities report beneficial ownership of 13,123,363 subordinate voting shares of TELUS International CDA Inc. Together these holdings represent 11.5% of the subordinate voting class as of 09/30/2025. The filing shows FIL Limited holds sole voting and dispositive power over 13,123,363 shares while Pandanus Partners, L.P. and Pandanus Associates, Inc. report sole dispositive power for the same amount. The statement discloses that Fidelity Canadian Large Cap Fund holds 7,770,000 shares, or 6.8% of the class. The filing certifies the shares were acquired in the ordinary course of business and not to change or influence control.

Positive

• Material disclosure of an 11.5% ownership stake provides transparency for investors
• Power breakdown clarifies voting and dispositive authority (sole voting and disposal reported)
• Certification that shares were acquired in the ordinary course reduces immediate control concerns

Negative

• Concentrated institutional holdings exist: FIL entities at 11.5% and Fidelity at 6.8%
• Identical ownership figures across multiple reporting entities can complicate ownership tracing for some investors

Insights

Corporate Governance Analyst

An 11.5% passive stake is material for governance visibility but does not alone indicate control.

The filing shows FIL Limited and its related Pandanus entities hold 13,123,363 subordinate voting shares, equal to 11.5% of the class. This level commonly triggers monitoring by issuer boards and may prompt engagement on strategy without constituting control.

Key dependencies are the filing's certification that the position is held in the ordinary course and the disclosed 6.8% stake by Fidelity Canadian Large Cap Fund. Watch for any subsequent amendments or Schedule 13D filings within the near term that would indicate activist intentions or control-seeking actions.

Institutional Holdings Analyst

Concentration and overlapping discretionary holdings are notable for investor positioning.

The record lists identical aggregate amounts across FIL and Pandanus entities, with sole dispositive power reported at 13,123,363 shares. The disclosure that another fund holds 7,770,000 shares (6.8%) highlights multiple large institutional holders in the register.

For market impact, monitor trading reports and the issuer's outstanding share count to assess liquidity effects; any changes in these large positions over the next quarter could influence float and investor voting dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

TELUS INTERNATIONAL CDA INC

(Name of Issuer)

Subordinate Voting Shares

(Title of Class of Securities)

87975H100

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87975H100

1

Names of Reporting Persons

FIL Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,123,363.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,123,363.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,123,363.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. 87975H100

1

Names of Reporting Persons

Pandanus Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,123,363.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,123,363.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 87975H100

1

Names of Reporting Persons

Pandanus Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,123,363.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,123,363.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TELUS INTERNATIONAL CDA INC
(b)	Address of issuer's principal executive offices: 510 WEST GEORGIA STREET, FLOOR 5,VANCOUVER,A1,CA,V6B 0M3
Item 2.
(a)	Name of person filing: FIL Limited
(b)	Address or principal business office or, if none, residence: Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, HM19
(c)	Citizenship: Not applicable
(d)	Title of class of securities: Subordinate Voting Shares
(e)	CUSIP No.: 87975H100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Please see Exhibit 99.
Item 4.	Ownership
(a)	Amount beneficially owned: 13123363.00
(b)	Percent of class: 11.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 13123363.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Subordinate Voting Shares of TELUS INTERNATIONAL CDA INC. The interest of Fidelity Canadian Large Cap Fund, in the Subordinate Voting Shares of TELUS INTERNATIONAL CDA INC, amounted to 7770000.00 shares or 6.8% of the total outstanding Subordinate Voting Shares at 09/30/2025.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FIL Limited

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of FIL Limited and its direct and indirect subsidiaries*
Date:	10/06/2025

Pandanus Partners, L.P.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by Pandanus Associates, Inc. on behalf of Pandanus Partners, L.P.*
Date:	10/06/2025

Pandanus Associates, Inc.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of Pandanus Associates, Inc.*
Date:	10/06/2025

Comments accompanying signature: This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FIL Limited on January 31, 2023, accession number: 0000318989-23-000005.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.

FAQ

How many TELUS International (TIXT) subordinate voting shares does FIL Limited report owning?

FIL Limited reports beneficial ownership of 13,123,363 shares, representing 11.5% of the subordinate voting class.

Does the Schedule 13G filing indicate FIL Limited seeks control of TIXT?

No. The filing includes a certification that the shares were acquired and are held in the ordinary course of business and not to change or influence control.

Which other large holder is disclosed in the filing for TIXT?

The filing discloses that Fidelity Canadian Large Cap Fund holds 7,770,000 shares, equal to 6.8% of the subordinate voting shares.

What voting and dispositive powers does FIL Limited report for its TIXT holdings?

FIL Limited reports sole voting power and sole dispositive power over 13,123,363 shares, with no shared voting or dispositive power reported.

When is the ownership snapshot taken in this filing?

The ownership percentages and share counts are reported as of 09/30/2025.