PowerPoint Presentation

Q3 2013 investor conference call November 8, 2013

Darren EntwistlePresident & Chief Executive OfficerJoe NataleEVP & Chief Commercial OfficerJohn GosslingEVP & Chief Financial Officer1TELUS forward looking statement2Today's presentation and answers to questions contain statements about financial and operating performance of TELUS and future events, including with respect to future dividend increases and normal course issuer bids to 2016 and the annual 2013 guidance, that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from that expressed in the forward-looking statements. Accordingly, our comments are subject to the disclaimer and qualified by the assumptions (including assumptions for 2013 annual guidance, CEO three-year goals to 2013 for EPS and free cash flow growth excluding spectrum costs, semi-annual dividend increases to 2016, ability to sustain and complete multi-year share purchase programs to 2016), qualifications and risk factors referred to in the first, second and third quarter Managements discussion and analysis and in the 2012 annual report, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements, and reserves the right to change, at any time at its sole discretion, its current practice of updating annual targets and guidance.2

AgendaCEO IntroductionQ3 operational highlightsQ3 financial resultsQuestions and Answers

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Reporting solid Q3 results driven by wireless and wirelineReturning significant capital to shareholdersFurthering our strategy with Public Mobile transactionDelivering a differentiated customer service experience CEO introduction4TELUS demonstrating strong results and executing on shareholder friendly initiatives4Robust postpaid net additions5Postpaid net adds (000s)Q3-12116Q3-13Solid postpaid net adds with postpaid base up 5% y/yWireless subscribers7.8M total1.1Mprepaid86%14%6.7Mpostpaid1065

Strong smartphone adoption and ARPU growth6Q3-11Q3-12Q3-136.06.46.7Postpaid subscribers (millions)Smartphone % of postpaid $61.42$62.49$60.52Voice ARPUData ARPUQ3 smartphone penetration up 12 points to 75% of postpaid base supporting ARPU growth of 1.7% Q3-11Q3-12Q3-1320.9039.6224.5136.9127.7234.7748%63%75%6

Industry leading wireless churn71.44%Q3-121.36%Q3-13BlendedPostpaid1.10%Q3-120.99%Q3-13Q3-11Q3-111.67%1.33%Industry-leading churn resultsPostpaid down 11 basis points to reach lowest level in over six years7Industry leading lifetime revenue per susbcriber18Q3-12Q3-13$4,595$4,2651 Lifetime revenue derived by dividing ARPU by blended churn rateQ3-11$3,624Customers First focus generating industry-leading lifetime revenue per subscriber

8Healthy TV and Internet growth977663722%TELUS TV (000s)High-speed Internet (000s)1,3741,3035.4%4531,218Continued healthy Internet and TV subscriber growthbalanced with focus on enhanced profitabilityQ3-12Q3-13Q3-11Q3-12Q3-13Q3-119Q3 2013 wireless financial results10($M, except margins)Q3 2013 ChangeRevenue (external)1,5634.1%Network revenue1,4435.2%EBITDA16806.6%EBITDA excluding restructuring & other like costs6847.0%EBITDA margin2 46.8%0.6 ptsEBITDA margin excluding restructuring & other like costs47.0%0.8 ptsCapital expenditures19411%TELUS delivers another solid quarter of wireless results1 EBITDA does not have any standardized meaning prescribed by IFRS-IASB. For definition and explanation, see Section11.1 in the 2013 third quarter Managements discussion and analysis (MD&A).2 EBITDA as percentage of total network revenue10

Wireless data revenue ($M)Q3-12546Q3-13637444Q3-11Strong Q3 data revenue growth of 17% year-over-yearData now 44% of wireless network revenue, up 4 points1111Q3 2013 wireline financial results($M, except margins)Q3 2013ChangeRevenue (external)1,3113.0%EBITDA3550.8%EBITDA excluding restructuring & other like costs3663.4%EBITDA margin126.2%(0.5) ptsEBITDA margin excluding restructuring & other like costs27.0%0.1 ptCapital expenditures36122%Strong revenue growth driven by DataEBITDA excluding restructuring up 3.4%121. EBITDA as percentage of total revenue.12Wireline data revenue ($M)Q3-12737Q3-13801644Q3-11Data revenue growth of 8.7% driven by TV and InternetData revenue 61% of external revenue, up 3 points13

13Q3 2013 consolidated financial results($M, except EPS)Q3 2013ChangeRevenue (external)2,8743.6%EBITDA1,0354.6%EBITDA excluding restructuring & other like costs1,0505.7%EPS (basic)0.5614%Adjusted EPS10.5818%Capital expenditures (capex)55518%Simple cash flow (EBITDA less capex)480(7.5%)Strong growth in revenue and profitabilityContinued capex investments to support sustainable growth141. Adjusted EPS does not have any standardized meaning prescribed by IFRS-IASB. See appendix for definition.14EPS continuity analysisStrong double digit EPS growth15Q3-12EBITDA

Depr &AmortLower O/S sharesQ3-13Higher financing costsHigher income tax152013 guidance changes1 16($B)2013 guidance changesY/Y changeWireless revenue (external)$6.1 to 6.24 to 6%Consolidated capexApprox $2.0All other segmented and consolidated targets remain unchanged and reaffirmed today.

1. See forward looking statement caution and assumptions in Section 9 of the Q3-13 Managements Discussion and Analysis. Revised guidance excludes any impacts of the proposed Public Mobile acquisition. 2013 targets for profitability remain unchanged16

investor relations1-800-667-4871telus.com/investorsir@telus.com1720122013Q3Q3EBITDA9901,035Capital expenditures(471)(555)Net employee defined benefit plans expense2427Employer contributions to employee defined benefit plans(14)(7)Interest expense paid, net(55)(62)Income taxes paid, net(58)(88)Share-based compensation1321Restructuring costs net of cash payments(2)(6)Other(1)-Free Cash Flow 426365Cash payments for spectrum licences-(67)Purchase of shares for cancellation-(762)Dividends(198)(222)Cash payments for acquisitions and related investments(7)(3)Real Estate joint ventures-(5)Working capital and other56242Funds available for debt redemption277(452)Net issuance (repayment) of debt(304)212Increase (decrease) in cash(27)(240)Appendix Q3 2013 free cash flow comparison18Adjusted EPS does not have any standardized meaning prescribed by IFRS-IASB. This term is defined in this presentation as excluding (after income taxes): 1) Restructuring and other like costs; 2) unfavourable income tax-related adjustments. For further analysis of the aforementioned items see Section 1.3 in the 2013 third quarter MD&A.

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