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Summary

BCE’s inaugural 2022 Integrated Annual Report presents the company’s financial and non-financial performance in one document, demonstrating its continued commitment to create a sustainable future.

Report Highlights

BCE Inc. ("Bell Canada” or “Bell”) has released its 2022 Integrated Annual Report.

With a commitment to the highest environmental, social and governance (ESG) standards, Bell seeks to create a thriving, prosperous and more connected world through network investments that support the social and economic prosperity of its communities. Bell’s strategy to create value long into the future also consists of significant community investment, recruiting, developing and retaining the best talent and industry-leading environmental performance. Bell is dedicated to sustainably creating value over the long term for Canadians and the world by providing its customers with access to innovative and resilient broadband networks and communications services.

Bell’s inaugural Integrated Annual Report (IAR) presents its financial and non-financial performance together in one document, following the Value Reporting Foundation’s Integrated Reporting (<IR>) Framework. 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. Bell is the first major communications company in North America to publish an integrated annual report.

In accordance with the <IR> Framework, the 2022 report includes a description of how the company’s six forms of “capital” (networks, customers and relationships, products and services, environment, people and financial resources) serve as inputs to create value. This value creation model demonstrates how the company transforms its capital inputs into the value it creates, such as connected customers through strong trusted networks, a sustainable society and sustainable investor returns and strong capital structure.

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

Better World

• Commit to the reduction of greenhouse gas emissions by 2030 in line with the Paris Climate Agreement and the Science Based Targets initiative, and achieve carbon neutral operations by 2025. Bell also recovered over 2.3 million used customer electronic devices in 2022 and is consistently recognized as one of Canada's Greenest Employers.
• Continue to lead the industry in mental health with over $139M committed to date to mental health initiatives through Bell Let's Talk, Canada's largest-ever corporate commitment to mental health. In 2022, Bell announced an additional $10 million toward its goal of $155 million for Canadian mental health programs by 2025.
• Support Canadian innovation with an industry-leading $600M in research and development spending in 2022.

Better Communities

• Increase investments to deliver faster and better connectivity to more Canadians. Capital expenditures increased to over $5.1 billion in 2022 to accelerate the rollout of its broadband fibre, 5G and rural networks.
• Expand advanced wireless connectivity. Bell’s 5G wireless network is available to 82% of Canadians as of the end of 2022.
• Offer connections to more Canadians in more places. In 2022, Bell expanded its pure fibre network to an additional 854,000 homes and businesses, and connected 17 additional communities in Canada’s far north.

Better Workplace

• Foster an inclusive culture as one of the largest and Best Employers in Canada, including one of the Best Diversity Employers, 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.
• Encourage diversity throughout Bell. Exceeded target of at least 40% BIPOC representation among new graduates and interns in 2022, and surpassed target of 35% gender diverse representation on the Board of Directors.

Bell is always seeking ways to improve its performance reporting and welcomes your feedback and suggestions. Please send any questions or comments to esg@bell.ca.

Media contact: media@bell.ca