George Cope

1
2004 Media Telecom Conference

• George Cope
• President CEO, TELUS Mobility
• September 14, 2004

2
forward-looking statement
This presentation and answers to questions
contain forward-looking statements about expected
future events and financial and operating results
that are subject to risks and uncertainties.
TELUS actual results, performance, or
achievement could differ materially from those
expressed or implied by such statements. For
additional information on potential risk factors
including those associated with the potential
completion of the Microcell bid, see TELUS
Annual Information Form, the Offers to Purchase
and Circular, and other filings with securities
commissions in Canada and the United
States. TELUS disclaims any intention or
obligation to update or revise any
forward-looking statements, whether as a result
of new information, future events or
otherwise. All dollars in C unless otherwise
specified.
3
about TELUS Mobility
leading Canadian national wireless provider
coast to coast 1X
CDMA footprint
only one in Canada (Nextel in US)
iDEN Mike network
best in North America
Spectrum position
31.8M Cdn. Population
Licensed POPs
29.7M (93)
Network coverage
Verizon Wireless Nextel
Strategic relationships
1 Guidance provided August 6, 2004
4
Canadian subscriber growth re-accelerating
5
Canadian wireless penetration growth prospects
2003
2007E
2004
42
55-59
46
13.4M subs
18-19M subs
15M subs
Source Industry analysts
6
Total industry EBITDA1
YTD Q2-04
YTD Q2-03
TELUS Mobility 31
TELUS Mobility 33
1,213M
1,617M
Source Company reports. 1 Sum of reported
wireless EBITDA for BCE, Rogers Wireless,
Microcell and TELUS Mobility
7
TELUS Mobility EBITDA cash flow growth
EBITDA
1,050 to 1,1001
EBITDA less capex
815
(M)
6751
535
455
356
173
75
2003
2000
2001
2002
2004E
(288)
(360)
1 Guidance provided August 6, 2004
8
Net additions
190K
Postpaid
170K
Prepaid
YTD Q2-03
YTD Q2-04
9
Network revenue growth
1,218M
1,019M
YTD Q2-03
YTD Q2-04
10
ARPU - continued industry leadership
YTD Q2-03
58
55
YTD Q2-04
49
48
46
45
39
38
Microcell
TELUS Mobility
BCE Wireless
Rogers Wireless

• Source Company reports

11
ARPU drivers

• Price changes continue to roll through the base
• per minute billing - Jul-02
• evening weekend clock change - Jul-03
• select calling features - Jul-04
• minutes of use up 21 in 2003, 14 YTD Q2-04
• expanding data offering (intercarrier SMS, 1X
  RIM)
• roaming/resale agreements
• Verizons preferred Canadian PCS roaming partner
• iDEN roaming with Nextel in U.S.

12
Churn low stable
13
Churn reduction drivers

• 3 year contracts
• improved coverage
• significant improvement in drop call rate
• expanded national footprint
• better phones
• grandfathered rate plans
• dedicated retention team
• excellent customer care levels

14
profitable subscriber growth
15
EBITDA growth margin expansion
16
Profitable subscriber growth strategy
12ME Q2-04 subscriber growth
12ME Q2-04 EBITDA growth
TELUS Mobility
TELUS Mobility
31
40
1.5M
737M
Source Company reports. Sum of reported net
adds wireless EBITDA for BCE, Rogers Wireless,
Microcell, TELUS Mobility
17
Capex intensity declining
Capex intensity (total revenue)
132M
129M
12
10
YTD Q2-04
YTD Q2-03
Wireless capex
18
Capex drivers

• Leading spectrum position - minimal cell
  splitting
• CDMA/1X roaming/resale agreements in Central
  Eastern Canada
• Network digitization largely complete
• 1X network implemented, voice capacity
  improvement
• Mike (iDEN) network largely built out

19
Cash flow (EBITDA less capex)
405M
248M
YTD Q2-04
YTD Q2-03
Wireless cash flow
20
operating cash flow yield
2004E1
YTD Q2-04
EBITDA margin (network revenue)
42-43
43.8
EBITDA margin (total revenue)
39-40
40.5
13
Capex intensity2
9.8
Cash flow yield3
26-27
30.7
1 Based on current public guidance 2 Capex as
of total revenue 3 EBITDA less capex, as a of
total revenue
21
YTD cash flow yield - North America
EBITDA less Capex / Total Revenue
31
21
20
17
13
11
5
(1)
(38)
Nextel
Rogers
Cingular
AWE
Verizon
PCS
TELUS
T-Mob USA
Source Company reports
Microcell
22
whats new?
23
Text messaging

• Canadians are sending more than 1.1 million text
  messages a day, up 100 year over year
• By 2006, an estimated one billion messages will
  be sent worldwide every day

24
Fastap

• TELUS Mobility exclusive
• Worlds first phone and full keypad

25
Picture messaging

• award-winning marketing campaign
• significant share of sales by end of 2004
• early usage stats encouraging
• Worldwide
• 29 billion digital images captured this year
• 2003 One in six wireless phones sold had digital
  camera

26
Download delights
Disney
Hockey
27
Blackberry
New devices, US roaming on both iDEN PCS
Colour screen
Push to Talk
Blackberry 7750
Blackberry 7510 - iDEN
28
North American iDEN Direct Connect
29
TELUS TV ads
30
Conclusion

• Attractive industry fundamentals
• Canadian wireless penetration accelerating
• No restrictions on spectrum holdings
• Wireless data market exploding
• ARPU up, churn down across industry
• Margins in excess of 40
• Free cash flow yields expanding

31
questions?
32
investor relations

• 1-800-667-4871
• telus.com
• ir_at_telus.com