TELUS financial results

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TELUS Investor conference call
Darren Entwistle President Chief Executive
Officer Eros Spadotto Executive Vice President,
Technology Strategy Robert McFarlane Executive
Vice President and CFO
October 10, 2008
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Forward looking statements

• This presentation and answers to questions
  contains forward looking statements about TELUS.
  
• Forward looking statements are not based on
  historical facts, but rather on current
  expectations, company assumptions and projections
  about future events. These statements include
  but are not limited to those regarding
  completion of the network build and sharing
  arrangement with Bell deployment of next
  generation services expected technology
  evolution path and transition to 4G technology,
  expected benefits from the proposed initiative
  expected benefits and performance of HSPA/LTE
  technology expected availability of existing
  wireless portfolio, capital expenditure
  requirements and guidance and statements
  regarding strategies, objectives, goals and
  targets. There can be no assurance that any of
  the foregoing will occur at all or on the
  timetable contemplated in the related news
  release.
• Forward-looking statements may prove to be
  inaccurate and users are cautioned to not place
  undue reliance on them. Forward looking
  statements are subject to risks and uncertainties
  which could cause actual results to differ
  materially from the future results expressed or
  implied or projected by the forward looking
  statements, and are qualified in their entirety
  by the inherent risks and uncertainties
  surrounding future expectations.
• Assumptions, risks and uncertainties include but
  are not limited to those assumptions and risk
  factors disclosed from time to time in TELUS'
  reports, public disclosure documents including
  Management's discussion and analysis, Annual
  Information Form, and in other filings with
  securities regulatory authorities in Canada (on
  SEDAR at www.sedar.com) and the United States (on
  EDGAR at www.sec.gov), as applicable. They also
  include the following risks and uncertainties
  difficulties in completion of definitive
  agreements with suppliers increased costs or
  difficulties related to completion of the network
  build or the network sharing arrangement
  benefits, efficiencies and cost savings from the
  new technology or proposed initiative cannot be
  fully realized transition of services or
  technology will be more difficult than expected
  LTE does not emerge as the worldwide 4G
  technology standard and other anticipated and
  unanticipated costs and expenses and other risk
  factors relating to TELUS or affecting Bell or
  the selected suppliers.
• The forward-looking statements included in this
  news release represent TELUS views as of the
  date hereof and should not be relied upon as
  representing its views as of any other date.
  TELUS specifically disclaims any obligation to
  update any forward-looking statements contained
  in this news release or any other forward-looking
  statement, whether written or oral, that may be
  made from time to time by it or on its behalf.

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Technology evolution at TELUS

• Track record of well executed technology
  evolutions
• Announcing today
• National next generation wireless network build
• Launching by early 2010
• Using High Speed Packet Access (HSPA) technology
• Smooth transition to 4G, long term evolution
  (LTE)
• Initiative supports three of TELUS six
  strategic imperatives
• Focusing on data and wireless
• Building national capabilities
• Providing integrated solutions

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Technology roadmap at TELUS
2007
2009
2010
2012
2008
2011
2013
HSPA7 30 Mbps
LTE50 Mbps
EVDORev A3.2Mbps
GSM/UMTS Ecosystem
Theoretical. Standards in progress
CDMA 2000 Ecosystem
Future proofing our technology roadmap
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Superior benefits for our clients

• More choice
• To provide widest selection of networks
  services
• Building on long-standing multi-network strategy
• HSPA to augment our CDMA and iDEN networks
• More functionality
• International roaming
• Fast network speeds
• Additional handset/device choice
• Builds on TELUS existing mobile broadband
  leadership
• CDMA continues to perform well in North American
  market
• Continuing to support CDMA iDEN

Committed to offering customers best devices and
service
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TELUS and Bell agreement

• Building on track record of technology evolutions
• Enhancing Next Generation Reciprocity agreement
• In place since 2001 with Bell
• Sharing capital expenditure
• TELUS benefits include
• Lowering costs and increasing speed of national
  build
• Offering widest national coverage by early 2010
• Using existing wireless spectrum
• Both companies continue to compete in marketplace

Employing capital prudently, ensuring competitive
choice
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Supplier selection and capex outlook

• Competitive RFP process to identify winning
  vendors
• Chosen from top equipment suppliers
• Secured reasonable pricing
• Ensuring best network performance and reliability
• Selected Nokia Siemens Networks and Huawei
  Technologies
• Planning complete network build has commenced
• HSPA network capital expenditures
• Included in 2008, 1.9B consolidated capex
  target
• Expect 2009 wireless capex, including HSPA
  build-out, to be temporarily higher than
  historical level

Demonstrated ability to make new investments
without impacting annual guidance
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Summary of technology path benefits

• Ongoing network operating cost savings
• Lower handset costs
• Increasing global roaming revenues
• Recurring return on upfront HSPA investment
• Maintaining future performance and
  competitiveness

Array of benefits for TELUS, our customers and
investors
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questions?
investor relations 1-800-667-4871 telus.com
ir_at_telus.com