PowerPoint Presentation

Q1 2013TELUS investor conference call May 9, 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 future events and financial and operating performance of TELUS 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 to 2013 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 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). In addition, there can be no assurance that the Company will initiate a normal course issuer bid. 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 IntroductionQ1 operational highlightsQ1 financial resultsQuestions and Answers

33Series of shareholder friendly initiativesIncreasing dividend July 2 up 11.5% from a year agoExtending dividend growth program of circa 10% annually to 2016Launching $500M issuer bid to December 2013, subject to TSX approvalTargeting share repurchase program of $500M in 2014, 2015, 2016Reporting strong Q1 resultsCEO introduction4Returning to shareholders up to $6B or $10 per share 2013 - 20164Robust postpaid net additions5Postpaid net adds (000s)Q1-125263Q1-13Postpaid base up 6.6% YoYNow 2nd largest player in national mobility marketQ1-11Wireless subscribers7.7M total1.1Mprepaid86%14%6.6Mpostpaid595Strong smartphone adoption and ARPU growth6Q1-11Q1-12Q1-135.86.26.6Postpaid subscribers (millions)Smartphone % of postpaid $58.87$60.04$57.89Voice ARPUData ARPUSmartphone penetration up 12 points to 68% of postpaid basesupporting ARPU growth of 2% in Q1Q1-11Q1-12Q1-1317.7140.1822.8336.0425.6234.4238%56%68%

6Industry leading wireless churn71.55%Q1-121.48%Q1-13BlendedPostpaid1.14%Q1-121.11%Q1-13Q1-11Q1-111.70%1.33%Best Q1 blended churn since 2007Cost of Retention stable7Industry leading lifetime revenue per susbcriber18Q1-12Q1-13$4,057$3,7981 Lifetime revenue derived by dividing ARPU by blended churn rateQ1-11$3,405Industryleading ARPU and churn generating leading lifetime revenue per subscriber

8Healthy TV and Internet growth971255329%TELUS TV (000s)High-speed Internet (000s)1,3421,2576.8%3581,183TELUS focused on balancing subscriber growth with profitabilityQ1-12Q1-13Q1-11Q1-12Q1-13Q1-119Continued strength in Optik10TELUS TVResidential NALsHigh-speed InternetQ1-12Q1-1360K50K-34K44K16K-47K34K16KTV and high-speed Internet loading exceedsresidential NAL losses for tenth consecutive quarter

10Q1 2013 wireless financial results11($M, except margins)Q1 2013 ChangeRevenue (external)1,4726.4%EBITDA16667.4%EBITDA margins (network revenue)48.6%0.5 ptsCapital expenditures134(11)%TELUS delivers another strong quarter of wireless results1 For definition, see Section11.1 in Q1 2013 Managements discussion and analysis11Wireless data revenue ($M)Q1-12498Q1-13583366Q1-11Strong Q1 data revenue growth of 17% year-over-yearData now 43% of wireless network revenue, up 4 points12

12Q1 2013 wireline financial results($M, except margins)Q1 2013ChangeRevenue (external)1,2842.9%EBITDA3681.9%EBITDA margins(total revenue)27.8%(0.2) ptsCapital expenditures33315%Another quarter of EBITDA growth reflecting revenue growth and improved Optik TV and high-speed Internet margins1313Wireline data revenue ($M)Q1-12700Q1-13764619Q1-11Strong data revenue growth of 9% driven by TV and InternetData revenue 60% of external revenue, up 4 points14

14Q1 2013 consolidated financial results($M, except EPS)Q1 2013ChangeRevenue (external)2,7564.8%EBITDA1,0345.4%EPS (basic) 0.5614%Capex4675.9%EBITDA less capex5675.0%Free cash flow1 (FCF)358__FCF before cash taxes50625%1 For definition, see Section11.2 in Q1 2013 Managements discussion and analysisStrong consolidated results driven by both wireless and wireline1515EPS continuity analysisHigher EBITDAChange in tax expenseDepreciation & AmortizationQ1-13 reportedQ1-12 reportedEPS up 14.3% driven by strong EBITDA growth160.490.060.02(0.01)0.5616$1.1 billion 11 year at 3.35%$600 million 30 year at 4.40% Funds $300 million 5.0% Notes maturing June 2013Redeeming one year early May 2014 $700 million 4.95% NotesEarly redemption fee to negatively impact Q2 EPS by approx 3 cents

Successful $1.7 billion financing1717TELUS long-term debt maturity profile ($M)Reducing financing risk Average term to maturity 9 years from 5.2 18201520162017201820192020202120222023202420252043300 700 625 600 700 1,000 1,000 175 245 500 1,100 200 600 20131201411 $300 million June 2013 notes to be repaid at maturity; $700 million May 2014 notes to be redeemed one year early on May 15, 2013New debt issueDebt to be repaid18

investor relations1-800-667-4871telus.com/investorsir@telus.com19Appendix Q1 2013 free cash flow comparison2013Q12012Q1C$ millionsEBITDA 9811,034Capex(441)(467)Net Employee Defined Benefit Plans Expense2726Employer Contributions to Employee Defined Benefit Plans(116)(36)Interest expense paid, net(55)(57)Income taxes refunded (paid), net(48)(148)Share-based compensation712Restructuring costs net of cash payments2(6)Free Cash Flow358(188)(209)Dividends Working Capital and Other(62)(138)Funds Available for debt redemption61(19)Net Issuance (Repayment) of debt(39)(67)Increase (decrease) in cash22(85)Cash payments for acquisitions and related investments(30)358(26)Real estate joint venture(16)(4)20