Richard Brodie's second-half brace saw Fleetwood come from two goals down to secure a point against Telford.
Telford went ahead when Shane Killock powerfully headed in a Daniel Preston cross before Sean Newton shot high into the net to double the advantage.
Brodie, on as a substitute, reduced the deficit when he headed in Jamie Milligan's corner from close range.
The equaliser came deep into injury time when Brodie's low shot from 18 yards found the corner of the net.
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AFC Telford United manager Andy Sinton told BBC Radio Shropshire:
"Sometimes you've got to give the opposition credit. They penned us back.
"Credit to my boys, fantastic performance and it says what we're up against, when they've got a striker on the bench that 12 months ago cost £300,000 and can't get into their starting side.
"I just wish we could have hung on, but we didn't."