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1 st quarter 2003 TELUS Mobility results

1 st quarter 2003 TELUS Mobility results. George Cope, CEO TELUS Mobility. TELUS Mobility’s strategy. “Focus on profitable subscriber growth rather than industry-leading net additions”. TELUS 2000 Annual Report, page 17. subscribers wireless industry penetration growth.

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1 st quarter 2003 TELUS Mobility results

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  1. 1st quarter 2003 TELUS Mobility results George Cope, CEO TELUS Mobility

  2. TELUS Mobility’s strategy “Focus on profitable subscriber growth rather than industry-leading net additions” TELUS 2000 Annual Report, page 17

  3. subscriberswireless industry penetration growth Source: Company reports, CWTA and TELUS Mobility estimates

  4. subscribers market share of net additions Q1-03E TELUS Mobility xx% TELUS Mobility 33% Microcell1 5% Bell Mobility 31% Rogers 25% Source: Company & analyst reports 1 Estimate Aliant 4% net additions of 67K in Q1-03 continue trend of significant share of industry net additions

  5. ARPU $54 $52 Q1-03 Q1-02 Average Revenue Per Unit ($/month) ARPU up $2 year-over-year network revenue growth of 19% exceeds 15% subscriber growth

  6. Source: Company reports 1 Microcell ARPU for 9ME - Q3-02 ARPUcontinued leadership Q1-03 ARPU $54 $45 $45 $40 Microcell1 TELUS Mobility Rogers AT&T BCE Wireless 20% premium to closest competitor maintained

  7. pricing change evenings & weekend clock change to 8 pm

  8. churnstrong improvement 2.0% 1.9% 1.7% 1.7% 1.5% Q4-02 Q1-03 Q1-02 Q2-02 Q3-02 significant 35pt year-over-year churn improvement

  9. churnleading performance 3.1% 2.6% 2.3% 2.1% 2.0% 1.9% 1.5% 1.4% AT&T BCE Verizon TELUS Rogers Nextel Sprint PCS Cingular churn improvement makes TELUS Mobility’s low churn rate one of best in North America

  10. COA (excl. retention) $404  $425 ARPU $52  $54 Churn 1.88%  1.53% COA/ Lifetime revenue 14%  12% profitable subscriber growth Q1-02 Q1-03 Lifetime revenue $2,800  $3,500 marketing cost as % of lifetime revenue declining

  11. EBITDA growth margin expansion EBITDA margin (network revenue) $179M 36.3% $123M 29.5% $77M 19.9% Q1-01 Q1-02 Q1-03 Wireless EBITDA ($) industry leading EBITDA growth of 46% yields significant year-over-year margin enhancement

  12. EBITDA-Capex $124M $26M Q1-01 Q1-03 Q1-02 ($381M) $99M cash flow improvement

  13. conclusionTELUS Mobility executing to plan • Capturing solid share of industry subscriber growth • Strong 19% network revenue growth • Financial discipline - pricing initiatives • One of the lowest churn rates in North America • Industry-leading client lifetime revenue generation • Excellent EBITDA growth & margin expansion • Mobility significant contributor to consolidated FCF TELUS Mobility is a premium operator in fundamentally strong Canadian wireless market

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