BCE Transforming To Deliver a Better Future

BCE Inc. ("Bell Canada” or “Bell”) has released its 2023 Integrated Annual Report.

We are pursuing our purpose to advance how Canadians connect with each other and the world by building resilient networks and embracing automation to offer even better products, services and customer experiences. All with a continuing commitment to corporate responsibility that helps create a better world, better communities and a better workplace.

As we accelerate our transformation from a traditional telecommunications company to a technology services and digital media leader, Bell continues to seek to create a more connected world through network investments that support the social and economic prosperity of communities across Canada. Bell’s objective to create value long into the future includes community investment, recruiting, developing and retaining the best talent and conscientious environmental practices.

Bell’s 2023 Integrated Annual Report (IAR) presents its financial and non-financial performance together in one document, following the principles of the International Reporting Framework (the <IR> Framework), now part of the International Reporting Standards Foundation. The <IR> approach helps illuminate the connection between sustainability and financial performance, permitting the company to present its strategy to create sustained value for stakeholders over time.

In accordance with the <IR> Framework, the 2023 report includes a description of how the company’s six forms of “capital” (our networks, our customers and relationships, our products and services, our environment, our people and our financial resources) serve as inputs to create value. This value creation model demonstrates the value we create for our stakeholders through the use of capitals, such as keeping customers connected through strong reliable networks, helping to enable a sustainable society, consistent investor returns and a strong capital structure.

Bell’s commitments to value creation, reflected in its Bell for Better platform, is based on these pillars:

Better World

• Reduce greenhouse gas emissions by 2030 in line with the Paris Climate Agreement and the Science Based Targets initiative, and achieve carbon neutral operations (scope 1 and 2 only) by 2025.
• Reduce waste by recovering over 2.9 million customer electronic devices in 2023, surpassing our objective of seven million devices collected from 2021 to 2023.
• Continue to lead the industry in mental health in 2023 with a $1 million donation to the IWK Foundation in Halifax, and continued commitment to our goal of $155 million for Canadian mental health supports and services by 2025.
• Support Canadian innovation with an industry-leading $770 million in research and development spending in 2023.

Better Communities

• Deliver faster and better connectivity to more Canadians, with 2023 capital expenditures of $4.6 billion to accelerate the rollout of broadband fibre, 5G and rural networks.
• Expand advanced wireless connectivity with Bell’s 5G wireless network available to 86%, and 5G+ available to 51%, of the national population, as of the end of 2023.
• Offer connections to more Canadians in more places. In 2023, Bell expanded its pure fibre network to an additional 633,000 homes and businesses.

Better Workplace

• Foster an inclusive culture as one of the largest and Best Employers in Canada, including one of the Greenest Employers, Top-Family Friendly Employers and a Montréal Top Employer.
• Enable the next generation of Bell leaders through Graduate Leadership Programs as a Top Employer for Young People.
• Support mental health among team members: we were awarded the Excellence Canada: Order of Excellence for Mental Health at Work for workplace mental health program and results.

Bell always seeks to improve its performance reporting and welcomes your feedback and suggestions. Please send any questions or comments to [email protected].

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