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      Caution regarding forward-looking statements summary

      This report contains statements about expected future events and financial and operating performance of TELUS that are forward-looking. By their nature, forward-looking statements are subject to inherent risks and uncertainties and require the Company to make certain assumptions.

      There is significant risk that the assumptions, predictions and other 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 assumptions, actual performance and events to differ materially from those expressed in the forward-looking statements. Accordingly, this report is subject to the disclaimer and qualified in its entirety by the assumptions (including assumptions for 2012 financial and CSR targets and guidance), qualifications and risk factors referred to in the Caution regarding forward-looking statements in the 2011 Management’s discussion and analysis (MD&A) starting on page 38 of TELUS’ 2011 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). TELUS disclaims any intention or obligation to update or revise forward-looking statements, except as required by law, and reserves the right to change, at any time at its sole discretion, its current practice of updating annual targets and guidance.

      All financial information is reported in Canadian dollars unless otherwise specified.

      Copyright © 2012 TELUS Corporation. All rights reserved. Certain products and services named in this report are trademarks. The symbols ™ and ® indicate those owned by TELUS Corporation or its subsidiaries. All other trademarks are the property of their respective owners.