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Darren Entwistle Member of the TELUS Team February 18, 2005
2004 – 4th quarter review Darren Entwistle Member of the TELUS Team February 18, 2005 leading the way …
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strong Q4 momentum going into 2005
leading the way …. strong Q4 momentum going into 2005 TELUS Mobility Record quarter and year for wireless net additions Highest EBITDA and cash flow in Canadian industry strong track record of execution and performance
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Canadian Wireless Industry 2004
TELUS achieving profitable subscriber growth Canadian Wireless Industry 2004 subscriber growth EBITDA growth + $800M + 1.5M TELUS Mobility 41% 34% + $660M cash flow1 growth 50% 1. EBITDA less Capital expenditures Source: Company reports. Sum of reported results for BCE, Rogers Wireless pro forma Microcell, & TELUS Mobility
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2004 wireless cash flow yield1 comparison (%)
30.3 29.3 27.9 21.9 19.2 12.4 10.8 3.9 TELUS Mobility Bell Mobility France Telecom Nextel Verizon Sprint PCS Rogers Cingular Wireless Wireless Wireless Wireless 1.EBITDA less capital expenditures divided by network revenue Source: Company reports
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strong Q4 momentum going into 2005
leading the way …. strong Q4 momentum going into 2005 TELUS Mobility Best ever quarter for wireless net additions Highest EBITDA and cash flow in Canadian industry TELUS Communications Third quarter of sequential revenue growth Data revenue growth 9% Long distance decline only 1% First ever quarter of positive EBITDA in non-ILEC Consolidated: 5 of 6 original annual targets achieved strong track record of execution and performance
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benefits of secondary offering
73.5M secondary share offering for $2.24B $148M in cash, $97M in reduced future payments wireless roaming agreement for TELUS Mobility oversubscribed, shares up 15% since closing broadened shareholder base internationally increased Canadian ownership share liquidity increased 26% Verizon deal positive for shareholders
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corporate priorities for 2005
Enhance our leadership position in wireless Leverage our investments in high speed Internet through Future Friendly home services Accelerate our wireline performance in Ontario & Quebec Grow brand value through superior customer experience (via leading IP solutions and improved customer care) Drive continual improvements in productivity Reach a new collective agreement 2005 priorities entirely consistent with 2004
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labour relations update
CIRB overturned its ruling that imposed binding arbitration Narrow communications ban reinstated Union has appealed this week to CIRB and Federal Court of Appeal
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framework for medium term growth
Wireline Growth Opportunities Challenges Non-ILEC Growth Future Friendly Home Organization Effectiveness Technological Substitution Competitive Intensity Price Cap Regulatory Framework + + + + Short-term dilutive Strive to hold wireline EBITDA (before restructuring) flat over medium term Growth in revenues and EBITDA from large exposure to wireless business = Continued improvements in consolidated results
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2004 global telecom performance
actual/projected Revenue % growth rates 6.1 % 5.9 5.3 5.2 4.7 4.5 3.7 2.4 2.2 0.2 Aliant Telstra BT Nippon KPN MTS AT&T TELUS BLS SBC VZ Sprint PCCW DT BCE FT Telia (1.2) (1.6) (2.2) (2.5) (2.7) (5.5) As at February 16, 2005 Notes: TELUS data based on actual results Other estimates provided by Bloomberg, company and analyst reports (11.6)
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2004 global telecom performance
actual/projected EBITDA % growth rates % 10 7 6 4 2 2 2 Telstra BLS BT KPN SBC MTS Nippon PCCW Aliant AT&T TELUS DT FT Sprint VZ BCE Telia (0.3) (2) (2) (2) (3) (4) (8) (15) (17) As at February 16, 2005 Notes: TELUS data based on actual results Other estimates provided by Bloomberg, company and analyst reports (20)
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2004 global telecom performance
actual/projected EPS % growth rates 135% 77 74 72 54 48 35 31 22 18 6 VZ BLS PCCW SBC Aliant DT FT Telia TELUS KPN Sprint MTS BT Telstra Nippon BCE (4) (6) (7) (21) (29) As at February 16, 2005 Notes: TELUS data based on actual results Other estimates provided by Bloomberg, company and analyst reports
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2004 global telecom performance
actual/projected Cash Flow (EBITDA - Capex) % growth rates 13 % 7 4 4 1 BCE Telia VZ Telstra AT&T SBC BLS BT KPN Nippon Aliant PCCW TELUS FT Sprint MTS DT (1) (4) (5) (5) (7) (8) (10) (10) (14) (16) (20) As at February 16, 2005 Notes: TELUS data based on actual results Other estimates provided by Bloomberg, company and analyst reports (21)
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