Darren Entwistle Member of the TELUS Team Communacopia XIII Conference October 5, 2004

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 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. forward-looking statement

3 Voice focused balanced growth $5.7B 43% 18% 10% 6% Other 12ME Q2, 2004 $7.3B Local Voice Wireless Data 29% 35% 19% 4% Other LD Wireless 12ME Q2, 2000 Local Voice 23% Data 13% LD TELUS Communications TELUS Communications TELUS Mobility TELUS Mobility consolidated revenue profile evolution 28% 54% } }

4 As at August 4, 2004 Note: TELUS data based on 2003 results & mid-point of 2004 guidance Other estimates provided by Bloomberg, company and analyst reports projected EBITDA % growth rates (4) (6) (7) (30) (0.2) (2) TELUSFTDTBCESprintTelstraBTVZAliantKPN NipponPCCWSBCTeliaMTSBLSAT&T 2004E global telecom performance

5 As at August 4, 2004 Note: TELUS data based on 2003 results & mid-point of 2004 guidance Other estimates provided by Bloomberg, company and analyst reports (4) (5) (9) (17) (25) (0.6) (2) (1) (0.5) 9 TELUSSprintAliantBCEVZFTTelstra SBCNipponDTTeliaPCCWBTBLS KPNMTSAT&T projected Cash Flow (EBITDA - Capex) % growth rates 2004E global telecom performance

6 long-term value growth Regulatory Pressure Competitive Intensity Technology Substitution + + Digital Home Non-ILEC Growth Organization Effective- ness + + Tip the scales and hold EBITDA flat for the wireline business  = Growth in revenues and EBITDA from the wireless business Continued improvements in revenues and EBITDA for TELUS ≥ investor considerations

7  Sustaining leading financial performance  Beneficial shift in mix of revenue, earnings and cash flow  Sustainable wireless industry growth  Initiatives to address wireline revenue softness  Track record of increasing cash flow and financial strength  Continue to balance interests of equity and debt holders TELUS is a pure play telecom operating company with strong growth profile investor considerations

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