2012 targets

Growing goals

TELUS' 2012 consolidated financial targets reflect continued growth generated by significant broadband infrastructure investments and are consistent with our long-standing and successful national growth strategy focused on wireless and data. In the past two years, we have met or exceeded six of our eight consolidated financial targets. For more information and a complete set of 2012 financial targets and assumptions, see Sections 1.4 and 1.5 of Management's discussion and analysis in this report.

Revenues ($ billions)

Revenues

Target increasing by 3 to 6%, driven by growth in wireless and wireline data

EBITDA ($ billions)

EBITDA

Target growing by 1 to 6%, driven by wireless operations

EPS - BASIC ($)

EPS - BASIC

Target increasing by 0 to 10%, driven by operating earnings growth and lower financing costs

Capital expenditures ($ billions)

Capital expenditures

Target reflects increasing investment in new wireless LTE network offset by reduced spending in wireline

These 2012 targets are qualified in their entirety by the Caution regarding forward-looking statements.