1. Q1 2013 TELUS investor conference call May 9, 2013 Darren Entwistle President & Chief Executive Officer Joe Natale EVP & Chief Commercial Officer John Gossling EVP & Chief Financial Officer

2. TELUS forward looking statement 2 Today'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 Management’s 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.

3. Agenda  CEO Introduction  Q1 operational highlights  Q1 financial results  Questions and Answers 3

4. Series of shareholder friendly initiatives  Increasing dividend July 2 – up 11.5% from a year ago  Extending dividend growth program of circa 10% annually to 2016  Launching $500M issuer bid to December 2013, subject to TSX approval  Targeting share repurchase program of $500M in 2014, 2015, 2016  Reporting strong Q1 results CEO introduction 4 Returning to shareholders up to $6B or $10 per share 2013 - 2016

5. Robust postpaid net additions 5 Postpaid net adds (000s) Q1-12 52 63 Q1-13 Postpaid base up 6.6% YoY Now 2 nd largest player in national mobility market Postpaid base up 6.6% YoY Now 2 nd largest player in national mobility market Q1-11 Wireless subscribers 7.7M total 1.1M prepaid 86% 14% 6.6M postpaid 59

6. Strong smartphone adoption and ARPU growth 6 Q1-11Q1-12Q1-13 5.8 6.2 6.6 Postpaid subscribers (millions) Smartphone % of postpaid $58.87 $60.04 $57.89 Voice ARPU Data ARPU Smartphone penetration up 12 points to 68% of postpaid base supporting ARPU growth of 2% in Q1 Smartphone penetration up 12 points to 68% of postpaid base supporting ARPU growth of 2% in Q1 Q1-11Q1-12Q1-13 17.71 40.18 22.83 36.04 25.62 34.42 38% 56% 68%

7. Industry leading wireless churn 7 1.55% Q1-12 1.48% Q1-13 BlendedPostpaid 1.14% Q1-12 1.11% Q1-13 Q1-11 1.70% 1.33% Best Q1 blended churn since 2007 Cost of Retention stable Best Q1 blended churn since 2007 Cost of Retention stable

8. Industry leading lifetime revenue per susbcriber 1 8 Q1-12Q1-13 $4,057 $3,798 1 Lifetime revenue derived by dividing ARPU by blended churn rate Q1-11 $3,405 Industry leading ARPU and churn generating leading lifetime revenue per subscriber Industry leading ARPU and churn generating leading lifetime revenue per subscriber

9. Healthy TV and Internet growth 9 712 553 29% TELUS TV (000s)High-speed Internet (000s) 1,342 1,257 6.8% 358 1,183 TELUS focused on balancing subscriber growth with profitability TELUS focused on balancing subscriber growth with profitability Q1-12Q1-13Q1-11Q1-12Q1-13Q1-11

10. Continued strength in Optik 10 TELUS TVResidential NALsHigh-speed Internet Q1-12 Q1-13 60K 50K -34K 44K 16K -47K 34K 16K TV and high-speed Internet loading exceeds residential NAL losses for tenth consecutive quarter TV and high-speed Internet loading exceeds residential NAL losses for tenth consecutive quarter

11. Q1 2013 wireless financial results 11 ($M, except margins) Q1 2013Change Revenue (external)1,4726.4% EBITDA 1 6667.4% EBITDA margins (network revenue) 48.6%0.5 pts Capital expenditures134(11)% TELUS delivers another strong quarter of wireless results 1 For definition, see Section 11.1 in Q1 2013 Management’s discussion and analysis

12. Wireless data revenue ($M) Q1-12 498 Q1-13 583 366 Q1-11 Strong Q1 data revenue growth of 17% year-over-year Data now 43% of wireless network revenue, up 4 points Strong Q1 data revenue growth of 17% year-over-year Data now 43% of wireless network revenue, up 4 points 12

13. Q1 2013 wireline financial results ($M, except margins) Q1 2013Change Revenue (external)1,2842.9% EBITDA3681.9% EBITDA margins (total revenue) 27.8%(0.2) pts Capital expenditures33315% Another quarter of EBITDA growth reflecting revenue growth and improved Optik TV and high-speed Internet margins 13

14. Wireline data revenue ($M) Q1-12 700 Q1-13 764 619 Q1-11 Strong data revenue growth of 9% driven by TV and Internet Data revenue 60% of external revenue, up 4 points Strong data revenue growth of 9% driven by TV and Internet Data revenue 60% of external revenue, up 4 points 14

15. Q1 2013 consolidated financial results ($M, except EPS) Q1 2013Change Revenue (external)2,7564.8% EBITDA1,0345.4% EPS (basic)0.5614% Capex4675.9% EBITDA less capex5675.0% Free cash flow 1 (FCF)358 __ FCF before cash taxes506 25% 1 For definition, see Section 11.2 in Q1 2013 Management’s discussion and analysis Strong consolidated results driven by both wireless and wireline Strong consolidated results driven by both wireless and wireline 15

16. EPS continuity analysis Higher EBITDA Change in tax expense Depreciation & Amortization Q1-13 reported Q1-12 reported EPS up 14.3% driven by strong EBITDA growth 16 0.49 0.06 0.02 (0.01) 0.56

17.  $1.1 billion 11 year at 3.35%  $600 million 30 year at 4.40%  Funds $300 million 5.0% Notes maturing June 2013  Redeeming one year early May 2014 $700 million 4.95% Notes  Early redemption fee to negatively impact Q2 EPS by approx 3 cents Successful $1.7 billion financing 17

18. TELUS long-term debt maturity profile ($M) Reducing financing risk Average term to maturity 9 years from 5.2 Reducing financing risk Average term to maturity 9 years from 5.2 18 201520162017201820192020202120222023202420252043 300 700 625 600 700 1,000 175 245 500 1,100 200 600 2013 1 2014 1 1 $300 million June 2013 notes to be repaid at maturity; $700 million May 2014 notes to be redeemed one year early on May 15, 2013 New debt issue Debt to be repaid

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20. Appendix – Q1 2013 free cash flow comparison 2013 Q1 2012 Q1 C$ millions EBITDA 9811,034 Capex (441)(467) Net Employee Defined Benefit Plans Expense2726 Employer Contributions to Employee Defined Benefit Plans(116)(36) Interest expense paid, net(55)(57) Income taxes refunded (paid), net(48)(148) Share-based compensation 7 12 Restructuring costs net of cash payments 2 (6) Free Cash Flow 358 (188)(209) Dividends Working Capital and Other (62) (138) Funds Available for debt redemption 61(19) Net Issuance (Repayment) of debt (39) (67) Increase (decrease) in cash 22(85) Cash payments for acquisitions and related investments (30) 358 (26) Real estate joint venture (16) (4)