George Cope President & CEO, TELUS Mobility November 10, 2004 Telecom & Tech 2005

2 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 see TELUS’ Annual Information Form, 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. forward-looking statement

3 about TELUS  Canada’s 2nd largest telco - only national pure-play, facilities- based, full-service telecom provider  Executing national growth strategy focused on data, IP & wireless  2004ERevenues$7.5 to 7.575B,  5 to 6% EBITDA$3.025 to 3.075B,  7 to 9% FCF$1.25 to 1.3B,  48 to 54% EPS$1.40 to 1.50,  52 to 63%  Operating segments:Communications: wireline Mobility: wireless  Enterprise value:~$18B (equity ~$11B)  Daily trading 1 :1.2M shares 1 trailing 12 month average. TSX: T, T.A; NYSE: TU

4  Quarterly dividend increased 33% to 20¢ for Jan. 1, 2005 payment  Targeting dividend payout ratio guideline of 45 to 55% of net earnings  Approval for Normal Course Issuer Bid for up to 10% of public float or ~25.5M shares  Changes to Dividend Reinvestment Plan  discontinue 3% discount – in line with peers  to begin open market purchases in 2005 shareholder value enhancing initiatives

5 Data & wireless revenues from 28% to 55% in 4 yrs $5.7B 43% 18% 10% 6% Other 12ME Q3-04 $7.4B Local Voice Wireless Data 29% 36% 19% 4% Other LD Wireless 12ME Q2-00 Local Voice 23% Data 12% LD TELUS Communications TELUS Communications TELUS Mobility TELUS Mobility about TELUS Consolidated revenue profile evolution

6 TELUS consolidated - YTD review Change 1 Includes restructuring & workforce reduction costs of $12M & $33M for YTD Q3-03 & Q3-04, respectively 2 Free Cash Flow defined as: EBITDA (including restructuring & workforce reduction costs) less capex, net cash interest, net cash taxes, cash restructuring payments, and excess share compensation expense over share compensation payments..  56%$430M$277MNet Income  52%$1.20$0.79EPS  6%$5.62B$5.32BRevenue  9%$2.32B$2.13BEBITDA 1 YTD Q3-04YTD Q3-03 Excellent revenue, profitability & free cash flow growth  52%$1,175M$773MFree Cash Flow 2

7 about TELUS Mobility 31.8M: Cdn. PopulationLicensed POPs: 29.7M (93%)Network coverage: Verizon Wireless & NextelStrategic relationships: 55 MHz in major marketsSpectrum position: only one in Canada (Nextel in US)iDEN Mike network: coast to coast 1XCDMA footprint: $1.1B to 1.125B (  35 to 38%)EBITDA (2004E) 1 : $2.775 to 2.8B (  18 to 19%)Revenue (2004E) 1 : 3.75MSubscribers: leading Canadian national wireless provider 1 Guidance provided October 29, 2004

8 Canadian subscriber growth accelerating 4.5%4.0%Penetration gain 1.5M1.3MNet subscriber additions 31.8MPopulation31.5M 14.4MCdn wireless market12.8M Q3-04Q %40.7%Penetration 12ME

9 Source: Industry analysts % 2007E 55-59% 2004YTD 45% 13.4M subs 18-19M subs 14.4M subs 4 million or more net adds expected over next 3 yrs Canadian wireless penetration growth prospects

10 $2,626M $1,954M YTD Q3-04 YTD Q3-03 TELUS Mobility 32% TELUS Mobility 33% Source: Company reports. 1 Sum of reported wireless EBITDA for BCE, Rogers Wireless, Microcell and TELUS Mobility Industry EBITDA up 34% YTD total industry EBITDA 1

11 TELUS Mobility EBITDA & cash flow growth 56% compounded EBITDA growth rate over four years 1 Guidance provided October 29, 2004 $173 $ $ $ $1,100 to 1, E 1 $(360) $455 $(288) $750 to 775 $75 EBITDA EBITDA less capex ($M)

12 Net additions Net additions up 21% YTD, with 41% postpaid growth YTD Q K YTD Q3-04 Prepaid Postpaid 326K

13 Network revenue growth Network revenue up 19% on strong subscriber & ARPU growth YTD Q3-03 $1,596M YTD Q3-04 $1,904M

14 TELUS MobilityBCE WirelessRogers Wireless $57 $47 Source: Company reports $59 $49 $50 Microcell $38 $41 ARPU - continued industry leadership YTD Q3-03 YTD Q3-04 significant premium with positive industry-wide trend

15 TELUS Mobility Rogers Wireless BCE Wireless $26 Source: Company reports $11 $12 prepaid ARPU prepaid ARPU double that of closest national competitor Q3-04

16 TELUS Mobility Rogers Wireless BCE Wireless $70 Source: Company reports $62$63 postpaid ARPU Q3-04 premium ARPU across all subscriber categories

17  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, 12% YTD Q3-04  expanding data offering (intercarrier SMS, 1X & RIM)  roaming/resale agreements  Verizon’s preferred Canadian PCS roaming partner  iDEN roaming with Nextel in U.S. ARPU drivers

18 Continued focus on retention evident with postpaid churn down to 1.05% in Q3 Churn low & stable YTD Q3-03YTD Q % blended monthly churn YTD Q3-03YTD Q % 1.1% postpaid-only churn

19  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 Churn control & retention drivers

20 9%10%COA/ Lifetime revenue 1.4% Blended churn $59ARPU$57 $379COA$420 YTD Q3-04YTD Q3-03 $4,300  -    $4,100Lifetime revenue Subscriber economics continue to improve profitable subscriber growth strategy

21 EBITDA growth of 37% YTD & EBITDA margin of 45% EBITDA growth & margin expansion Wireless EBITDA YTD Q3-04 $625M 39% 45% $858M EBITDA margin 1 (network revenue) YTD Q EBITDA margin on total revenue 36% YTD Q3-03, and 41% YTD Q3-04

22 achieving profitable subscriber growth TELUS achieving strategy of profitable subscriber growth $832M 1.5M 12ME Q3-04 EBITDA growth 12ME Q3-04 subscriber growth Source: Company reports. Sum of reported net adds & wireless EBITDA for BCE, Rogers Wireless, Microcell, TELUS Mobility TELUS Mobility 35% 31% TELUS Mobility

23 Wireless capex 11% Capex intensity (total revenue) YTD Q3-04 $228M 13% $232M YTD Q3-03 Capex intensity declining Continued improvement in capex intensity

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

25 Wireless cash flow YTD Q3-04 $398M $625M YTD Q3-03 Cash flow (EBITDA less capex) Cash flow increased by $228 million or 57% YTD

26 13%Capex intensity 2 EBITDA margin (total revenue) 39-40% Cash flow yield % 2004E 1 1 Based on guidance provided October 29, Capex as % of total revenue 3 EBITDA less capex, as a % of total revenue EBITDA margin ( network revenue) 42-43% 11.2% 41.4% 30.2% YTD Q % Operating cash flow yield Attractive wireless cash flow yield above plan YTD

27 30% 21% 19% 18% 13% 10% 6% TELUS Nextel Rogers Verizon PCS Cingular AWE YTD cash flow yield - North America Source: Company reports EBITDA less Capex / Total Revenue YTD results & implied cash flow yield of 26 to 27% in 2004 is best in class (24)% Microcell

what’s new?

29 text messaging  Canadians are sending more than 2 million text messages a day, up 100% year over year  By 2006, an estimated one billion messages will be sent worldwide every day Canadians now send more than 60M text messages per month

30 Fastap  TELUS Mobility exclusive  World’s first phone and full keypad

31 picture messaging  continued focus of award- winning marketing campaign  significant share of sales in 2004  five camera phones in current line-up  Canada’s first megapixel camera phone launched Oct.  new phones with higher quality cameras and flashes 1.3 megapixel 4X zoom, built-in flash

32 Blackberry Good traction, US roaming on both iDEN & PCS Blackberry 7750Blackberry iDEN Push to Talk Colour screen

33 text & picture messaging mobile browser downloads mobile computing & other applications RIM wireless Internet (1X cards) data revenue expanding exponentially Data revenue growth driven by expanding number of applications wireless data business & consumer

34 North American iDEN Direct Connect

35 Mike’s Talk Around i325i315

36 TELUS TV ads

37 Attractive industry fundamentals  Canadian wireless penetration accelerating  Industry consolidation to 3 national wireless carriers  Wireless data market exploding  ARPU up, churn down across industry  Margins in excess of 40%  Free cash flow yields expanding TELUS Mobility is the most profitable wireless carrier in North America conclusion

questions?

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