<SEC-DOCUMENT>0001047469-16-011689.txt : 20160329
<SEC-HEADER>0001047469-16-011689.hdr.sgml : 20160329
<ACCEPTANCE-DATETIME>20160329125311
ACCESSION NUMBER:		0001047469-16-011689
CONFORMED SUBMISSION TYPE:	F-10/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20160329
DATE AS OF CHANGE:		20160329

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELUS CORP
		CENTRAL INDEX KEY:			0000868675
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO TELEPHONE COMMUNICATIONS [4812]
		IRS NUMBER:				980361292

	FILING VALUES:
		FORM TYPE:		F-10/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-210204
		FILM NUMBER:		161534586

	BUSINESS ADDRESS:	
		STREET 1:		3777 KINGSWAY
		CITY:			BURNABY
		STATE:			D1
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-10/A
<SEQUENCE>1
<FILENAME>a2227944zf-10a.htm
<DESCRIPTION>FORM F-10/A
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</FONT> <FONT SIZE=2><B>AS FILED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION ON MARCH&nbsp;29,&nbsp;2016  </B></FONT></P>

<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><B> REGISTRATION NO.&nbsp;333-210204&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT></P>


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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>WASHINGTON,&nbsp;D.C. 20549  </B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>AMENDMENT NO.&nbsp;1<BR>
TO<BR>  </B></FONT><FONT SIZE=5><B>FORM F-10<BR>  </B></FONT><FONT SIZE=2><B>REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF&nbsp;1933  </B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>TELUS CORPORATION<BR>  </B></FONT><FONT SIZE=2><B>(Exact name of Registrant as specified in its charter)  </B></FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>British Columbia, Canada</B></FONT><FONT SIZE=2><BR>
(Province or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> 4812</B></FONT><FONT SIZE=2><BR>
(Primary Standard Industrial<BR>
Classification Code Number)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> Not Applicable</B></FONT><FONT SIZE=2><BR>
(I.R.S. Employer Identification No.,<BR>
if applicable)</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>510&nbsp;West Georgia Street<BR>
Vancouver, British Columbia V6B&nbsp;0M3<BR>
Canada<BR>
(604)&nbsp;697-8044</B></FONT><FONT SIZE=2><BR>
(Address and telephone number of Registrant's principal executive offices) </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>CT Corporation System<BR>
111&nbsp;Eighth Avenue, 13th&nbsp;Floor<BR>
New&nbsp;York, New&nbsp;York 10011<BR>
(212)&nbsp;590-9070</B></FONT><FONT SIZE=2><BR>
(Name, address (including zip code) and telephone number<BR>
(including area code) of agent for service in the United&nbsp;States) </FONT></P>

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<TD COLSPAN=5 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><I>Copies to:</I></FONT></TD>
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<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B>Andrew J. Foley<BR>
Paul, Weiss, Rifkind, Wharton&nbsp;&amp;<BR>
Garrison&nbsp;LLP<BR>
1285&nbsp;Avenue of the Americas<BR>
New&nbsp;York, NY 10019-6064<BR>
(212)&nbsp;373-3000</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B> Stephen Lewis<BR>
TELUS Corporation<BR>
510&nbsp;W. Georgia St., 23rd&nbsp;Floor<BR>
Vancouver, British Columbia V6B&nbsp;0M3<BR>
Canada<BR>
(604)&nbsp;697-8044</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2><B> Francis Legault<BR>
Pierre Dagenais<BR>
Norton Rose Fulbright</B></FONT><BR>
<FONT SIZE=2><B>Canada&nbsp;LLP</B></FONT><BR>
<FONT SIZE=2><B>Bureau 2500, 1&nbsp;Place Ville Marie</B></FONT><BR>
<FONT SIZE=2><B>Montreal, Quebec, H3B&nbsp;1R1</B></FONT><BR>
<FONT SIZE=2><B>Canada</B></FONT><BR>
<FONT SIZE=2><B>(514)&nbsp;847-4747</B></FONT></TD>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>Approximate date of commencement of proposed sale of the securities to the public:</B></FONT><FONT SIZE=2> From time to time after the effective date of this Registration
Statement. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>British Columbia, Canada</B></FONT><FONT SIZE=2><BR>
(Principal jurisdiction regulating this offering) </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is proposed that this filing shall become effective (check appropriate box&nbsp;below): </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>A.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;upon
filing with the Commission pursuant to Rule&nbsp;467(a) (if&nbsp;in connection with an
offering being made contemporaneously in the United&nbsp;States and&nbsp;Canada).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>B.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;at
some future date (check the appropriate box below):
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;pursuant
to Rule&nbsp;467(b) on (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) at (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) (designate a time not
sooner than seven calendar days after&nbsp;filing).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;pursuant
to Rule&nbsp;467(b) on (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) at (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) (designate a time seven
calendar days or sooner after filing) because the securities regulatory authority in the review jurisdiction has issued a receipt or notification of clearance
on&nbsp;(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;pursuant
to Rule&nbsp;467(b) as soon as practicable after notification of the Commission by
the Registrant or the Canadian securities regulatory authority of the review jurisdiction that a receipt or notification of clearance has been issued with
respect&nbsp;hereto.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;after
the filing of the next amendment to this Form (if&nbsp;preliminary material is
being&nbsp;filed). </FONT></DD></DL>
</DD></DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to the home jurisdiction's shelf prospectus
offering procedures, check the following box.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>
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<BR></FONT><FONT SIZE=2><B>  PART I<BR>  INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>I-1</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SHORT FORM BASE SHELF PROSPECTUS  </B></FONT></P>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><I><U>New&nbsp;Issue</U></I></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2> March&nbsp;29, 2016</FONT></TD>
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<IMG SRC="g488832.jpg" ALT="GRAPHIC" WIDTH="243" HEIGHT="45">
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=5><B>TELUS Corporation  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>$3,000,000,000  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=4><B>Debt Securities<BR>
Preferred Shares<BR>
Common Shares<BR>
Warrants to Purchase Equity Securities<BR>
Warrants to Purchase Debt Securities<BR>
Share Purchase Contracts<BR>
Share Purchase or Equity Units<BR>
Subscription Receipts  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>TELUS Corporation ("TELUS" or the "Company") may offer and issue from time to time any bonds, debentures, notes or other evidences of indebtedness of any kind,
nature or description (collectively, "Debt Securities"), preferred shares or common shares (collectively, the "Equity Securities"), warrants to purchase Equity Securities and warrants to purchase Debt
Securities (collectively, the "Warrants"), Share Purchase Contracts (as&nbsp;defined under "Description of Share Purchase Contracts and Share Purchase or Equity Units" herein), Share Purchase or
Equity Units (as&nbsp;defined under "Description of Share Purchase Contracts and Share Purchase or Equity Units" herein), and subscription receipts that entitle the holder to receive upon
satisfaction of certain release conditions, and for no additional consideration, Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units ("Subscription
Receipts", and together with the Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units, the "Securities") of up to $3,000,000,000 aggregate initial
offering price of Securities (or&nbsp;the equivalent thereof in one or more foreign currencies or composite currencies, including United&nbsp;States dollars) during the 25&nbsp;month period that
this short form base shelf prospectus (the&nbsp;"Prospectus"), including any amendments thereto, is valid. Securities may be offered separately or together, in amounts, at prices and on terms to be
determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement (a&nbsp;"Prospectus Supplement"). </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>The
specific terms of the Securities with respect to a particular offering will be set out in the applicable Prospectus Supplement and may include, where applicable (i)&nbsp;in the case of Debt
Securities, the specific designation, aggregate principal amount, the currency or the currency unit for which the Debt Securities may be purchased, the maturity, interest provisions, authorized
denominations, offering price, covenants, events of default, any terms for redemption or retraction, any exchange or conversion terms, whether the debt is senior or subordinated and any other terms
specific to the Debt Securities being offered; (ii)&nbsp;in the case of common shares of TELUS ("Common Shares"), the number of Common Shares offered and the offering price; (iii)&nbsp;in the case
of Equity Securities other than Common Shares, the designation of the particular class and series, the number of shares offered, the issue price, dividend rate, if any, and any other terms specific to
the Equity Securities being offered; (iv)&nbsp;in the case of Warrants, the designation, number and terms of the Equity Securities or Debt Securities purchasable upon exercise of the Warrants, any
procedures that will result in the adjustment of these numbers, the exercise price, dates and periods of exercise, the currency in which the Warrants are issued and any other specific terms;
(v)&nbsp;in the case of Share Purchase Contracts, the designation, number and terms of the Equity Securities to be purchased under the Share Purchase Contract, any procedures that will result in the
adjustment of these numbers, the purchase price and purchase date or dates of the Equity Securities, any requirements of the purchaser to secure its obligations under the share purchase contract and
any other specific terms; (vi)&nbsp;in the case of Share Purchase or Equity Units, the terms of the component share purchase contract and Debt Securities or third party obligations, any requirements
of the purchaser to secure its obligations under the share purchase contract by the Debt Securities or third party obligations and any other specific terms; and (vii)&nbsp;in the case of
Subscription Receipts, the offering price (or&nbsp;the manner of determination thereof if offered on a non-fixed price basis), the procedures for the exchange of Subscription Receipts for Debt
Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units, as the case may be, and any other specific terms thereof. Where required by statute, regulation or
policy, and where Securities are offered in </FONT></P>

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<P style="font-family:times;text-align:justify"><FONT SIZE=2>currencies
other than Canadian dollars, appropriate disclosure of foreign exchange rates applicable to such Securities will be included in the Prospectus Supplement describing such Securities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>All
information permitted under applicable securities laws to be omitted from this Prospectus will be contained in one or more Prospectus Supplements that will be delivered to purchasers together with
this Prospectus. Each Prospectus Supplement will be deemed to be incorporated by reference into this Prospectus as of the date of the Prospectus Supplement and only for the purposes of the
distribution of the Securities to which the Prospectus Supplement pertains. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>TELUS
has filed an undertaking with the British Columbia Securities Commission that it will not distribute Securities that, at the time of distribution, are novel specified derivatives or asset-backed
securities without pre-clearing with the applicable regulator the disclosure to be contained in the Prospectus Supplement pertaining to the distribution of such Securities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>For
the purpose of calculating the Canadian dollar equivalent of the aggregate principal amount of Securities issued under this Prospectus from time to time, Securities denominated in or issued in, as
applicable, a currency (the&nbsp;"Securities Currency") other than Canadian dollars will be translated into Canadian dollars using the Bank of Canada noon rate of exchange of Canadian dollars with
the Securities Currency in effect as of noon (Toronto time) on the date of issue of such Securities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>TELUS
maintains its registered office at 510&nbsp;W.&nbsp;Georgia&nbsp;St., 7th&nbsp;Floor, Vancouver, British Columbia&nbsp;V6B&nbsp;0M3 and its executive office at 510&nbsp;W. Georgia
St., 23rd&nbsp;Floor, Vancouver, British Columbia V6B&nbsp;0M3. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>This offering is made by a Canadian issuer that is permitted, under a multijurisdictional disclosure system adopted by the United&nbsp;States, to prepare this Prospectus in
accordance with the disclosure requirements of Canada. Prospective investors in the United&nbsp;States should be aware that such requirements are different from those of the United&nbsp;States.
The financial statements included or incorporated herein have been prepared using International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS-IASB"),
and they are subject to Canadian and United&nbsp;States auditing and auditor independence standards. They may not be comparable to financial statements of United&nbsp;States
companies.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>Prospective investors should be aware that acquisition of the Securities described herein may have tax consequences both in the United&nbsp;States and in Canada. Such
consequences for investors who are resident in, or citizens of, the United&nbsp;States may not be described fully&nbsp;herein.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>The enforcement by investors of civil liabilities under the United&nbsp;States federal securities laws may be affected adversely by the fact that TELUS is incorporated or
organized under the laws of the Province of British Columbia, that some or all of its officers and directors may be residents of Canada, that some or all of the underwriters or experts named in this
Prospectus and/or in a Prospectus Supplement may be residents of Canada, and that all or a substantial portion of the assets of TELUS and said persons may be located outside the
United&nbsp;States.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B>THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR HAS THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION PASSED
UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>This
Prospectus constitutes a public offering of the Securities only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such Securities.
The Company may offer and sell Securities to or through underwriters or dealers and also may offer and sell certain Securities directly to other purchasers or through agents. A Prospectus Supplement
relating to each issue of Securities offered thereby will set forth the names of any underwriters, dealers or agents involved in the sale of such Securities and the compensation of any such
underwriters, dealers or agents. The Common Shares are listed on the Toronto Stock Exchange ("TSX") under the symbol "T" and the New&nbsp;York Stock Exchange (the&nbsp;"NYSE") under the symbol
"TU". Unless otherwise specified in the applicable Prospectus Supplement, Securities other than the Common Shares will not be listed on any securities exchange. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>The
offering of Securities hereunder is subject to approval of certain legal matters on behalf of TELUS by Norton Rose Fulbright Canada&nbsp;LLP, Toronto, Ontario and by Paul, Weiss, Rifkind,
Wharton&nbsp;&amp; Garrison&nbsp;LLP, New&nbsp;York, New&nbsp;York. </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_table_of_contents"> </A>
<A NAME="toc_da19902_1"> </A>
<BR></FONT><FONT SIZE=2><B>  TABLE OF CONTENTS    <BR>    </B></FONT></P>

<DIV
style='position:relative;float:left;margin:right=3%;width:47%'>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Page </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DOCUMENTS INCORPORATED BY REFERENCE</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>REFERENCE TO CURRENCY</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>FORWARD-LOOKING STATEMENTS</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>TELUS CORPORATION</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>USE OF PROCEEDS</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>EARNINGS COVERAGE RATIOS</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>PRIOR SALES</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>MARKET PRICE AND TRADING VOLUME</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DESCRIPTION OF DEBT SECURITIES</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DESCRIPTION OF SHARE CAPITAL</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>14</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DESCRIPTION OF WARRANTS</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>17</FONT></TD>
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<P style="font-family:times;text-align:justify"></FONT></P>

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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Page </B></FONT></TH>
</TR>
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<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DESCRIPTION OF SHARE PURCHASE CONTRACTS AND SHARE PURCHASE OR EQUITY UNITS</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>19</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DESCRIPTION OF SUBSCRIPTION RECEIPTS</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>20</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DENOMINATIONS, REGISTRATION AND TRANSFER</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>21</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>RISK FACTORS</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>PLAN OF DISTRIBUTION</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>LEGAL MATTERS</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>EXPERT</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>22</FONT></TD>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Unless the context otherwise indicates, references in this Prospectus to "TELUS" or the "Company" are references to TELUS Corporation, its consolidated
subsidiaries and predecessor companies.</I></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_documents_incorporated_by_reference"> </A>
<A NAME="toc_da19902_2"> </A>
<BR></FONT><FONT SIZE=2><B>  DOCUMENTS INCORPORATED BY REFERENCE    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents of the Company, which have been filed by the Company with the securities commissions or similar regulatory
authorities in each of the provinces of Canada, are specifically incorporated by reference into, and form an integral part of, this Prospectus: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
annual information form of the Company dated March&nbsp;10, 2016 for the year ended December&nbsp;31,&nbsp;2015;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
audited consolidated financial statements of the Company as at and for the years ended December&nbsp;31, 2015 and December&nbsp;31, 2014, together
with the report of the independent registered public accounting firm thereon and the notes&nbsp;thereto;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Management's
Discussion and Analysis of financial results for the year ended December&nbsp;31, 2015;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
information circular dated March&nbsp;18, 2015 prepared in connection with the Company's annual general meeting held on May&nbsp;7,&nbsp;2015. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Any documents of a type described in Item&nbsp;11.1 of Form&nbsp;44-101F1&nbsp;&#151;&nbsp;</B></FONT><FONT SIZE=2><B><I>Short Form
Prospectus</I></B></FONT><FONT SIZE=2><B>, including the types referred to above, any material change reports (excluding confidential reports), and business acquisition reports filed by the Company pursuant
to the requirements of securities legislation of any province of Canada, and any other disclosure document which the Company has filed pursuant to an undertaking to a securities regulatory authority
of any province of Canada, in each case, after the date of this Prospectus and prior to the date on which this Prospectus ceases to be effective, shall be deemed to be incorporated by reference into
this Prospectus. In addition, to the extent indicated in any Report on Form&nbsp;6-K filed with the United&nbsp;States Securities and Exchange Commission (the&nbsp;"SEC") or in any Report on
Form&nbsp;40-F filed with the SEC, any information included therein shall be deemed to be incorporated by reference in this Prospectus.</B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for the purposes
of this Prospectus to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. The modifying or superseding statement need
not state that it has modified or superseded a prior statement or include any other information set forth in the document which it modifies or supersedes. The making of such a modifying or superseding
statement shall not be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission
to state a material fact that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which it was made. Any statement so modified or
superseded shall not constitute a part of this Prospectus, except as so modified or&nbsp;superseded.</B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>1</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Prospectus Supplement containing the specific terms of an offering of Securities, updated disclosure of earnings coverage ratios, if applicable, and other information relating to the
Securities, will be delivered to prospective purchasers of such Securities together with this Prospectus and will be deemed to be incorporated into this Prospectus as of the date of such Prospectus
Supplement only for the purpose of the offering of the Securities covered by that Prospectus Supplement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
a new annual information form and the related annual financial statements being filed by the Company with and, where required, accepted by, the applicable securities regulatory
authorities during the currency of this Prospectus, the previous annual information form, the previous annual financial statements and all interim financial statements, and the accompanying
Management's Discussion and Analysis, and material change reports filed prior to the commencement of the Company's financial year in which the new annual information form is filed, and information
circulars and business acquisition reports filed prior to the commencement of the Company's financial year in respect of which the new annual information form is filed, shall be deemed no longer to be
incorporated into this Prospectus for purposes of further offers and sales of Securities hereunder. Upon interim financial statements and the accompanying Management's Discussion and Analysis being
filed with the applicable securities regulatory authorities during the currency of this Prospectus, all interim financial statements and the accompanying Management's Discussion and Analysis filed
prior to the new interim financial statements will be deemed no longer to be incorporated into this Prospectus for purposes of further offers and sales of Securities hereunder. Upon the Company filing
an information circular in connection with an annual general meeting, the information circular filed in connection with the previous annual general meeting (unless such information circular also
related to a special meeting) will be deemed no longer to be incorporated into this Prospectus for purposes of further offers and sales of the Securities hereunder. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to its continuous disclosure obligations under the securities laws of the provinces of Canada, TELUS is subject to the information requirements of the </FONT> <FONT SIZE=2><I>United&nbsp;States Securities Exchange Act of 1934</I></FONT><FONT
SIZE=2>, as amended, and in accordance therewith files reports and other information with the SEC. Under
the multijurisdictional disclosure system adopted by the United&nbsp;States, such reports and other information may be prepared in accordance with the disclosure requirements of Canada, which
requirements are different from those of the United&nbsp;States. Such reports and other information, when filed by TELUS in accordance with such requirements, can be inspected and copied at the
public reference facilities maintained by the SEC at 100&nbsp;F Street, N.E., Washington,&nbsp;D.C., 20549. Copies of such material can be obtained at prescribed rates from such public reference
facilities of the SEC at 100&nbsp;F Street, N.E., Washington,&nbsp;D.C., 20549. In addition, such materials are also available to the public on the SEC's website at www.sec.gov. The Common Shares
are listed on the New&nbsp;York Stock Exchange and reports and other information concerning TELUS can be inspected at the offices of the New&nbsp;York Stock Exchange, 20&nbsp;Broad Street,
New&nbsp;York, New&nbsp;York,&nbsp;10005. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prospective
investors should rely only on the information contained in or incorporated by reference in this Prospectus or any applicable Prospectus Supplement. The Company has not
authorized anyone to provide prospective investors with different or additional information. The Company is not making an offer of the Securities in any jurisdiction where the offer is not permitted
by law. Prospective investors should not assume that the information contained in or incorporated by reference in this Prospectus or any applicable Prospectus Supplement is accurate as of any date
other than the date on the front of this Prospectus or the applicable Prospectus Supplement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
"template version" of any "marketing materials" (as&nbsp;such terms are defined in National
Instrument&nbsp;41-101&nbsp;&#151;&nbsp;</FONT><FONT SIZE=2><I>General Prospectus Requirements</I></FONT><FONT SIZE=2>) filed after the date of a Prospectus Supplement and
before the termination of the distribution of the Securities offered pursuant to such Prospectus Supplement (together with this Prospectus) is deemed to be incorporated by reference in such Prospectus
Supplement. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_reference_to_currency"> </A>
<A NAME="toc_da19902_3"> </A>
<BR></FONT><FONT SIZE=2><B>  REFERENCE TO CURRENCY    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the context otherwise requires, all references herein to currency are references to Canadian dollars. For Securities issued in
other than Canadian currency, potential purchasers should be aware that foreign exchange fluctuations are likely to occur from time to time and that the Company does not make any representation with
respect to currency values from time to time. Investors should consult their own advisors with respect to the potential risk of currency fluctuations. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
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<A NAME="page_da19902_1_3"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_forward-looking_statements"> </A>
<A NAME="toc_da19902_4"> </A>
<BR></FONT><FONT SIZE=2><B>  FORWARD-LOOKING STATEMENTS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Prospectus, together with the documents incorporated by reference herein, contain forward-looking statements about expected events
and the financial and operating performance of TELUS. Forward-looking statements include statements relating to annual targets, outlook, guidance and updates, the Company's multi-year dividend growth
program, the Company's multi-year share purchase program, and trends. Forward-looking statements are typically identified by the words "assumption", "goal", "guidance", "objective", "outlook",
"strategy", "target" and other similar expressions, or future or conditional verbs such as "aim", "anticipate", "believe", "predict", "could", "expect", "intend", "may", "plan", "seek", "should",
"strive" and "will". By their nature, forward-looking statements do not refer to historical facts, are subject to inherent risks and require the Company to make assumptions. There is significant risk
that forward-looking statements will not prove to be accurate. Accordingly, readers are
cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements.
The Company's general trends, outlook and assumptions for 2016 are described in the Company's Management's Discussion and Analysis of financial results for the year ended December&nbsp;31, 2015.
Factors that could cause actual performance to differ materially from the forward-looking statements made herein and in the documents incorporated by reference include, but are not limited to,
the&nbsp;following:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Competition</U> including: continued intense rivalry across all services among wireless and
wireline telecommunications companies, cable-TV providers, other communications companies and over-the-top ("OTT") services, which, among other things, places pressures on average revenue per
subscriber unit per month ("ARPU") and churn for all services; mergers and acquisitions of industry competitors, including the integration of cable-TV and wireless companies; the potential entry of
new competitors; competition from global players for international roaming services; the Company's ability to continue to retain customers through an enhanced customer service experience; pressures on
wireless ARPU and churn from market conditions and government actions, customer usage patterns, flat-rate pricing trends for voice and data, inclusive long distance plans for voice, moderating growth
in postpaid market penetration and increasing availability of Wi-Fi networks for data; pressures on high-speed Internet and TV ARPU and churn resulting from market conditions, government actions and
customer usage patterns; residential network access line ("NAL") losses; subscriber additions and retention volumes and associated costs for wireless, TV and high-speed Internet
services; competition for wireless spectrum; and the Company's ability to obtain and offer content on a timely basis across multiple devices on wireless and TV platforms at a reasonable&nbsp;cost. </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Technological substitution</U> including: reduced utilization and increased commoditization of
traditional wireline voice local and long distance services from impacts of OTT applications and wireless substitution, and overall slower subscriber growth in the wireline segment; the increasing
number of households that have only wireless and/or Internet-based telephone services; continuation of wireless voice ARPU declines as a result of, among other factors, substitution to messaging and
OTT applications; substitution to increasingly available Wi-Fi services from wireless services; and OTT Internet protocol ("IP") services that may displace TV and entertainment services, and
impact&nbsp;revenue. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Technology</U> including: subscriber demand for data that challenges wireless networks and
spectrum capacity levels; the Company's reliance on legacy systems and information technology; technology options, evolution paths and roll-out plans for wireline and wireless networks (including
broadband initiatives, such as fibre-to-the-premises ("FTTP") and wireless small-cell deployment); the Company's reliance on wireless network access agreements; choice of suppliers and those
suppliers' ability to maintain and service their product lines; supplier concentration and market power for network equipment, TELUS TV&reg; and wireless handsets; the performance of long-term
evolution ("LTE") wireless technology; the Company's expected long-term need to acquire additional spectrum capacity through future spectrum auctions and from third parties to address increasing
demand for data; deployment and operation of new wireless networks and success of new products, new services and supporting systems, including the Internet of Things ("IoT") services for
Internet-connected devices; deployment and operation of new wireline broadband networks at a reasonable cost and availability, and success of new products and services to be rolled out on such
networks; availability of resources and ability to build out adequate broadband capacity; network reliability and change management (including </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=7,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=809653,FOLIO='3',FILE='DISK132:[16ZAR2.16ZAR19902]DA19902A.;23',USER='RHERRIN',CD='29-MAR-2016;08:01' -->
<A NAME="page_da19902_1_4"> </A>
<UL>
<UL>
</UL>
</UL>
<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>migration
risks related to technology and customer retention, to new, more efficient Internet data centres ("IDCs") and realizing the expected benefits); timing of decommissioning of certain legacy
wireline networks, systems and services to reduce operating costs; timing of decommissioning of CDMA and iDEN wireless networks to redeploy spectrum and reduce operating costs, and the associated
subscriber migration costs and customer retention risks; and success of upgrades and evolution of TELUS TV technology, which depend on third-party suppliers. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Regulatory decisions and developments</U> including: potential of government intervention to
further increase wireless competition; the Canadian Radio-television and Telecommunications Commission ("CRTC") wireless wholesale services review, in which it was determined that the CRTC will
regulate wholesale GSM-based domestic roaming rates and the setting of such rates; future spectrum auctions (including limitations on established wireless providers, spectrum set-aside favouring
certain carriers and other advantages provided to new and foreign participants, and the amount and cost of spectrum acquired); restrictions on the purchase, sale and transfer of spectrum licences; the
undetermined long-term impact of the CRTC's wireline wholesale services review, which concluded that wholesale competitors shall receive regulated access to FTTP facilities owned by incumbent Internet
service providers; increased subsidy requirements for telecommunications facilities in Yukon, Nunavut and the Northwest Territories, and possible changes to the scope and nature of basic service
obligations, including higher minimum Internet access speeds; the CRTC's new code of conduct for TV services; vertical integration by competitors moving into broadcast content ownership and timely and
effective enforcement of related regulatory safeguards; ongoing monitoring and compliance with restrictions on non-Canadian ownership of the Common Shares; modification, interpretation and application
of tower sharing and roaming rules; and the non-harmonization of provincial consumer protection legislation, particularly in light of the CRTC's mandatory national wireless code (the&nbsp;"Code") in
effect since December&nbsp;2, 2013, and pressures on retention costs and other operational challenges resulting from the retroactive application of the Code, which led to two-year and three-year
customer contracts ending coterminously starting in June&nbsp;2015. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Economic growth and fluctuations</U> including: the state of the economy in Canada, which may be
influenced by economic developments outside of Canada; future interest rates; inflation; unemployment levels; effects of low oil prices; effects of low business spend (reducing investments and cost
structure); pension investment returns, funding and discount rates; and Canada: U.S.&nbsp;dollar exchange&nbsp;rates. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Capital expenditure levels and potential outlays for spectrum licences in spectrum auctions or from third
parties,</U> due to: the Company's ongoing deployment of wireless LTE and future technologies; utilizing newly acquired spectrum; the Company's wireline broadband initiatives, including
connecting more homes and businesses directly to fibre; investments in network resiliency and reliability; subscriber demand for data; evolving systems and business processes; implementing efficiency
initiatives; supporting large complex deals; and future wireless spectrum auctions held by the Department of Innovation, Science and Economic Development. The Company's capital expenditure levels
could be impacted by the achievement of its targeted operational and financial results. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Ability to successfully implement cost reduction initiatives and realize planned savings, net of
restructuring and other costs, without losing customer service focus or negatively affecting business operations</U>. Initiatives include: the Company's earnings enhancement program to
drive improvements in earnings before interest, income taxes, depreciation and amortization ("EBITDA"), including the initiative announced in November&nbsp;2015; business integrations; business
process outsourcing; offshoring and reorganizations, including any full-time equivalent ("FTE") employee reduction programs; procurement initiatives; and real estate rationalization. Additional cost
reduction initiatives may be needed if the Company does not achieve its targeted operational and financial results. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Financing and debt requirements</U> including the Company's ability to carry out financing
activities and the Company's ability to maintain investment grade credit ratings in the range of BBB+ or the&nbsp;equivalent. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Ability to sustain the Company's dividend growth program of circa 10% per annum through 2016 and the
Company's ability to sustain and complete its multi-year share purchase program through 2016</U>. These programs may be affected by factors such as regulatory decisions and developments,
the Company's </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=8,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=261754,FOLIO='4',FILE='DISK132:[16ZAR2.16ZAR19902]DA19902A.;23',USER='RHERRIN',CD='29-MAR-2016;08:01' -->
<A NAME="page_da19902_1_5"> </A>
<UL>
<UL>
</UL>
</UL>
<UL>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>earnings
and free cash flow, the Company's levels of capital expenditures and spectrum licence purchases, the competitive environment and economic performance in Canada. Quarterly dividend decisions
are subject to assessment and determination by the Company's Board of Directors (the&nbsp;"Board"), based on the Company's financial position and outlook. The share purchase program may be affected
by a change in the
Company's intention to purchase shares, and the assessment and determination of the Board from time to time. Consequently, there can be no assurance that these programs will be maintained through 2016
and/or renewed thereafter. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Human resource matters</U> including: recruitment, retention and appropriate training in a highly
competitive industry; the future outcome of collective bargaining for an agreement with the Telecommunications Workers Union ("TWU"), United Steel Workers Local Union 1944, which expired at the end of
2015; and the level of employee engagement. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Process risks</U> including: the Company's reliance on legacy systems and ability to implement
and support new products and services and business operations; the Company's ability to implement effective change management for system replacements and upgrades, process redesigns and business
integrations; implementation of complex large enterprise deals that may be adversely impacted by available resources, system limitations and degree of co-operation from other service providers; the
Company's ability to successfully manage operations in foreign jurisdictions; information security and privacy breaches, including data loss or theft of data; intentional threats to our infrastructure
and business operations; and real estate joint venture re-development risks. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Tax matters</U> including: complex tax laws that may be subject to interpretation by the tax
authorities that may differ from the Company's interpretations; changes in tax laws, including tax rates; elimination of income tax deferrals through the use of different tax year-ends for operating
partnerships and corporate partners; and international tax complexity and&nbsp;compliance. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Business continuity events</U> including: the Company's ability to maintain customer service and
operate the Company's networks in the event of human error or human-caused threats, such as electronic attacks and equipment failures that could cause various degrees of network outages; supply chain
disruptions; natural disaster threats; epidemics and pandemics; and the completeness and effectiveness of business continuity and disaster recovery plans and&nbsp;responses. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Litigation and legal matters</U> including: the Company's ability to defend successfully against
investigations, claims and lawsuits, including class actions pending against TELUS and possible class actions based on consumer claims, data or security breaches and secondary market liability; and
the complexity of legal compliance in domestic and foreign jurisdictions. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Acquisitions or divestitures</U> including: the Company's ability to successfully integrate
acquisitions or complete divestitures in a timely manner, and realize expected strategic benefits. </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2><U>Health, safety and environmental developments and other risk factors</U> discussed herein and
listed from time to time in the Company's reports and public disclosure documents, including the Company's annual report, annual information form, and other filings with securities commissions or
similar regulatory authorities in Canada (on&nbsp;SEDAR at www.sedar.com) and in the Company's filings with the SEC in the United&nbsp;States, including Form&nbsp;40-F (on&nbsp;EDGAR at
www.sec.gov). </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>For further information, see the section entitled "Risks and risk management" in the Company's Management's Discussion and Analysis of financial results for the
year ended December&nbsp;31,&nbsp;2015.</I></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_telus_corporation"> </A>
<A NAME="toc_da19902_5"> </A>
<BR></FONT><FONT SIZE=2><B>  TELUS CORPORATION    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TELUS was incorporated under the </FONT><FONT SIZE=2><I>Company Act</I></FONT><FONT SIZE=2> (British Columbia) (the&nbsp;"BC Company
Act") on October&nbsp;26, 1998 under the name BCT.TELUS Communications&nbsp;Inc. ("BCT"). On January&nbsp;31, 1999, pursuant to a court-approved plan of arrangement under the </FONT> <FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT
SIZE=2> among BCT, BC TELECOM&nbsp;Inc. ("BC&nbsp;TELECOM") and the former Alberta based TELUS Corporation ("TC"), BCT
acquired all of the shares of BC TELECOM and TC in exchange for common shares and non-voting shares of BCT, and BC TELECOM was dissolved. On May&nbsp;3, 2000, BCT changed its name to TELUS
Corporation and in </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=9,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=341431,FOLIO='5',FILE='DISK132:[16ZAR2.16ZAR19902]DA19902A.;23',USER='RHERRIN',CD='29-MAR-2016;08:01' -->
<A NAME="page_da19902_1_6"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>February&nbsp;2005,
the Company transitioned under the </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2> (British Columbia), successor to the BC Company Act. On
February&nbsp;4, 2013, in accordance with the terms of a court-approved plan of arrangement under the </FONT><FONT SIZE=2><I>Business Corporations Act</I></FONT><FONT SIZE=2> (British Columbia),
TELUS exchanged all of its issued and outstanding non-voting shares (the&nbsp;"Non-Voting Shares") into Common Shares on a one-for-one basis. On May&nbsp;9, 2013, TELUS amended its Articles and
Notice of Articles to eliminate the Non-Voting Shares from the authorized share structure of the Company, increase the maximum number of authorized Common Shares from 1,000,000,000 to 2,000,000,000,
and incorporate certain "housekeeping" or administrative amendments. TELUS maintains its registered office at 510&nbsp;W.&nbsp;Georgia&nbsp;St., 7th&nbsp;Floor, Vancouver,
British&nbsp;Columbia&nbsp;V6B&nbsp;0M3 and its executive office at 510&nbsp;W. Georgia St., 23rd&nbsp;Floor, Vancouver, British Columbia V6B&nbsp;0M3. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TELUS
is one of Canada's largest telecommunications companies, providing a wide range of telecommunications services and products including wireless and wireline voice and data. Data
services include: Internet protocol, television, hosting, managed information technology and cloud-based services, and certain healthcare solutions. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_use_of_proceeds"> </A>
<A NAME="toc_da19902_6"> </A>
<BR></FONT><FONT SIZE=2><B>  USE OF PROCEEDS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as may otherwise be set forth in a Prospectus Supplement, the net proceeds to be received by the Company from the issue and sale
from time to time of Securities will be added to the general funds of the Company to be used to repay existing indebtedness of TELUS, to fund capital expenditures and for other general corporate
purposes. Each Prospectus Supplement will contain specific information concerning the use of proceeds from that sale of&nbsp;Securities. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_earnings_coverage_ratios"> </A>
<A NAME="toc_da19902_7"> </A>
<BR></FONT><FONT SIZE=2><B>  EARNINGS COVERAGE RATIOS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following consolidated earnings coverage ratio has been calculated for the 12-month periods ended December&nbsp;31, 2015. The
earnings coverage ratio refers to the ratio of (i)&nbsp;consolidated net income attributable to equity shares before borrowing costs and income taxes, and (ii)&nbsp;borrowing costs. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the 12-month period ended December&nbsp;31, 2015, the Company's consolidated net income attributable to equity shares before borrowing costs and income taxes was
$2,409&nbsp;million. Borrowing costs for this 12-month period was $511&nbsp;million. </FONT></P>
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<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:times;"></TD>
<TD WIDTH="64pt" style="font-family:times;"></TD>
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>December&nbsp;31,<BR>
2015 </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Earnings coverage ratio</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>4.7</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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 </DIV>
 <P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
earnings coverage ratio at December&nbsp;31, 2015 gives a pro&nbsp;forma effect to the issuance, repayment and redemption of all long-term debt of the Company since the date of
the December&nbsp;31, 2015 financial statements, as if each had occurred at the beginning of such 12-month period. The earnings coverage ratios set out above do not give effect to any offering of
Securities pursuant to this Prospectus and do not purport to be indicative of earnings coverage ratios for any future&nbsp;periods. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_prior_sales"> </A>
<A NAME="toc_da19902_8"> </A>
<BR></FONT><FONT SIZE=2><B>  PRIOR SALES    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Company's various employee share option plans, during the 12&nbsp;month period before the date of this Prospectus,
the Company issued 836,835&nbsp;Common Shares on the exercise of 1,967,878&nbsp;options at a weighted average price of $22.07&nbsp;per&nbsp;share. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March&nbsp;27, 2015, the Company issued 1.50% Series&nbsp;CS notes due March&nbsp;27, 2018 in an aggregate principal amount of $250&nbsp;million, 2.35% Series&nbsp;CT notes
due March&nbsp;28, 2022 in an aggregate principal amount of $1&nbsp;billion, and 4.40% Series&nbsp;CU notes due January&nbsp;29, 2046 in an aggregate principal amount of $500&nbsp;million.
On December&nbsp;8, 2015, the Company issued re-opened 4.85% Series&nbsp;CP notes due April&nbsp;5, 2044 in an aggregate principal amount of $400&nbsp;million, and 3.75% Series&nbsp;CV notes
due March&nbsp;10, 2026 in an aggregate principal amount of $600&nbsp;million. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=10,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=638425,FOLIO='6',FILE='DISK132:[16ZAR2.16ZAR19902]DA19902A.;23',USER='RHERRIN',CD='29-MAR-2016;08:01' -->
<A NAME="page_da19902_1_7"> </A>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_market_price_and_trading_volume"> </A>
<A NAME="toc_da19902_9"> </A>
<BR></FONT><FONT SIZE=2><B>  MARKET PRICE AND TRADING VOLUME    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Common Shares are listed for trading on the TSX under the symbol "T" and the NYSE under the symbol "TU". The following table sets
forth the reported high and low closing sale prices and the aggregate volume of trading of the Common Shares on the TSX during the 12&nbsp;months preceding the date of this Prospectus. </FONT></P>
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Price Range </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
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<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>High </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Low </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Volume </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
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<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
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<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>($)</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=1>($)</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>2015</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>January</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>44.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>20,779,410</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>February</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>44.57</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>42.28</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>19,379,359</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>44.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.31</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>29,075,660</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>April</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>43.63</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.73</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>19,751,758</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>May</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>42.80</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40.86</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>19,399,953</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>June</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>43.05</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40.77</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>28,508,988</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>July</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>45.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>43.50</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>21,578,466</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>August</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>44.81</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.90</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>21,688,175</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>43.16</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.43</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>24,602,786</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>October</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>44.26</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>41.57</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>25,592,783</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>November</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>43.71</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40.15</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>25,072,839</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>December</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>42.46</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>37.92</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40,130,989</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>2016</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>January</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>38.97</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>36.35</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>31,478,342</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>February</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>40.45</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>38.44</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>33,611,572</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March&nbsp;1-28</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>42.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>39.13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>25,608,231</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da19902_description_of_debt_securities"> </A>
<A NAME="toc_da19902_10"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF DEBT SECURITIES    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following description of the terms of Debt Securities sets forth certain general terms and provisions of Debt Securities in respect
of which a Prospectus Supplement will be filed. The particular terms and provisions of Debt Securities offered by any Prospectus Supplement will be described in the Prospectus Supplement filed in
respect of such Debt Securities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt
Securities will be issued under an indenture dated May&nbsp;22, 2001 (the&nbsp;"Trust Indenture") between the Company and Montreal Trust Company of Canada
(now&nbsp;Computershare Trust Company of Canada), as trustee (the&nbsp;"Trustee"), as supplemented by supplemental indentures applicable to specific Debt Securities (together with the Trust
Indenture, the "Indenture"). The following summary of certain provisions of the Trust Indenture does not purport to be complete and is qualified in its entirety by reference to the Trust Indenture and
any applicable supplemental indentures. All capitalized terms are as defined in the Trust Indenture (unless otherwise defined herein). </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> General  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trust Indenture provides that Debt Securities may be issued thereunder from time to time in one or more series. Specific terms and
conditions which apply to such series will be set out in a supplement to the Trust Indenture. The Debt Securities will be direct, unconditional and, unless otherwise indicated in the relevant
Prospectus Supplement, unsecured obligations of the Company. As of December&nbsp;31, 2015, $11,250&nbsp;million principal amount of Debt Securities are outstanding under the Trust Indenture. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Prospectus Supplement relating to the particular Debt Securities offered thereby will describe the terms of such Debt Securities, including, where
applicable: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation, aggregate principal amount and denominations of such Debt Securities; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=11,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=60714,FOLIO='7',FILE='DISK132:[16ZAR2.16ZAR19902]DA19902A.;23',USER='RHERRIN',CD='29-MAR-2016;08:01' -->
<A NAME="page_da19902_1_8"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
price at which such Debt Securities will be issued or whether such Debt Securities will be issued on a non-fixed price&nbsp;basis;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date or dates on which such Debt Securities will mature and the portion (if&nbsp;less than all of the principal amount) of such Debt Securities to
be payable upon declaration of an acceleration of&nbsp;maturity;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
currency or currencies in which such Debt Securities are being sold and in which the principal of (and&nbsp;premium, if any), and interest, if any,
on, such Debt Securities will be payable, whether the holder of any such Debt Securities or the Company may elect the currency in which payments thereon are to be made and, if so, the manner of
such&nbsp;election;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>whether
the Debt Securities of such series are interest bearing and, in the case of interest bearing Debt Securities, the rate or rates (which may be fixed
or variable) per annum at which such Debt Securities will bear interest, if&nbsp;any;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date from which interest on such Debt Securities, whether payable in cash, in kind, or in shares, will accrue, the date or dates on which such interest
will be payable and the date on which payment of such interest will&nbsp;commence;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
dates on which and the price or prices at which such Debt Securities will, pursuant to any required repayment provisions, or may, pursuant to any
repurchase or redemption provisions, be repurchased, redeemed or repaid and the other terms and provisions of any such optional repurchase or redemption or required repayment;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
special provisions for the payment of additional interest with respect to such Debt Securities;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
additional covenants included for the benefit of holders of such Debt Securities;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
general terms or provisions, if any, pursuant to which such Debt Securities are to be guaranteed or&nbsp;secured;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
additional events of default provided with respect to such Debt Securities;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
exchange on which Debt Securities of a series will be listed;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>terms
for any conversion or exchange into other securities;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>subordination
terms, if any, of the Debt Securities of such series;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
special tax implications of or any special tax provision, or indemnities relating to Debt Securities of such series;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xvi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other terms of such Debt Securities. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Payment  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in the applicable Prospectus Supplement, payment of principal of (and&nbsp;premium, if any on) Debt
Securities will be made in the designated currency against surrender of such Debt Securities at the place or places specified in the applicable Prospectus Supplement. Unless otherwise indicated in the
Prospectus Supplement related thereto, payment of any instalment of interest on Debt Securities will be made to the Person (as&nbsp;defined under "&#151;&nbsp;Certain Definitions"
below) in whose name such Debt Security is registered at the close of business on the record date for such interest and may be made by electronic funds&nbsp;transfer. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Negative Pledge  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trust Indenture contains provisions to the effect that the Company will not, nor will it permit any Restricted Subsidiary
(as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below) to, create or assume any Lien (as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below) (other
than Permitted Liens (as&nbsp;defined herein)) upon any present or future Principal Property (as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below), or any Property
(as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below), which, together with any other Property subject to Liens in the same transaction or a series of related transactions,
would in the aggregate constitute a Principal Property, of </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>the
Company or any Restricted Subsidiary, to secure Indebtedness (as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below) of the Company or a Restricted Subsidiary
(the&nbsp;"Negative Pledge") unless the Debt Securities, other than Debt Securities which by their terms do not have the benefit of the Negative Pledge (together with, if the Company shall so
determine, any other Indebtedness of the Company or any Restricted Subsidiary ranking at least equally with the Debt Securities then existing or thereafter created), shall be concurrently secured
equally and ratably with (or&nbsp;prior to) such other Indebtedness so long as such Lien is&nbsp;outstanding. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
restrictions set forth above shall not apply to "Permitted Liens", which are defined in the Trust Indenture to&nbsp;include: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>with
respect to any series of Debt Securities, Liens existing on the Closing Date (as&nbsp;defined under "&#151;&nbsp;Certain Definitions"
below) for such&nbsp;series;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Liens
on any Property of any Person existing at the time such Person becomes a Restricted Subsidiary, or at the time such Person amalgamates or merges with
the Company or a Restricted Subsidiary, which Liens are not created in contemplation of such Person becoming a Restricted Subsidiary or effecting such amalgamation or&nbsp;merger;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Liens
on any Property, including any improvements from time to time on such property, existing at the time such Property is acquired by the Company or a
Restricted Subsidiary, including any acquisition by means of amalgamation, consolidation or merger, or Liens to secure the payment of all or any part of the purchase price of such Property upon the
acquisition of such Property by the Company or a Restricted Subsidiary or to secure any Indebtedness incurred prior to, at the time of, or within 270&nbsp;days after, the later of the date of
acquisition of such Property and the date such Property is placed in service, for the purpose of financing all or any part of the purchase price thereof, or Liens to secure any Indebtedness incurred
for the purpose of financing the cost to the Company or a Restricted Subsidiary of improvements to such acquired Property or to secure any indebtedness incurred for the purpose of financing all or any
part of the purchase price or the cost of construction of the Property subject to such&nbsp;Liens;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Liens
securing any Indebtedness of a Restricted Subsidiary owing to the Company or to another Restricted Subsidiary;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Liens
on Property of the Company or a Restricted Subsidiary securing indebtedness or other obligations issued by Canada or the United&nbsp;States of
America or any province, state or any department, agency or instrumentality or political subdivision of Canada or the United&nbsp;States of America or any state, or by any other country or any
political subdivision of any other country, for the purpose of financing all or any part of the purchase price of, or, in the case of real property, the cost of construction on or improvement of, any
property or assets subject to the Liens, including Liens incurred in connection with pollution control, industrial revenue or similar financings;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>Liens
securing any extension, renewal or replacement (or&nbsp;successive extensions, renewals or replacements) in whole or in part of any Permitted Lien
pursuant to the Trust Indenture; provided, however, that such new Lien is limited to the Property which was subject to the prior Lien immediately before such extension, renewal or replacement, and
provided, further, that the principal amount of Indebtedness secured by the prior Lien immediately prior to such extension, renewal or replacement is not&nbsp;increased;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other Liens not otherwise qualifying as a Permitted Lien provided that, at the applicable time, the aggregate principal amount of the Indebtedness
secured by all such other Liens, when added to the Attributable Debt determined at such time of the then outstanding Unrestricted Sale and Lease-Back Transactions (as&nbsp;defined under
"&#151;&nbsp;Limitation on Sale and Lease-Back Transactions" below) to which the Company or a Restricted Subsidiary is a party, does not exceed 15% of the then applicable Consolidated
Net Tangible Assets (as&nbsp;defined under "&#151;&nbsp;Certain Definitions" below);
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
interest or title of a lessor in the property subject to any capitalized lease or operating lease;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other Liens identified in the Prospectus Supplement relating to the series of Debt Securities issued. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>9</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<UL>
<UL>
</UL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Limitation on Sale and Lease-Back Transactions  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any Restricted Subsidiary may enter into any Sale and Lease-Back Transaction (as&nbsp;defined under
"&#151;&nbsp;Certain Definitions" below), except&nbsp;for: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
Sale and Lease-Back Transaction constituting a Permitted Lien under the Trust Indenture (other than clause&nbsp;(vii) or&nbsp;(viii)) under
"Negative Pledge"&nbsp;above;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
Sale and Lease-Back Transaction that is not otherwise permitted under clause&nbsp;(i) above or (iii)&nbsp;below, and in respect of which the
Company or such Restricted Subsidiary would be entitled, in the manner described under "Negative Pledge" above, to incur Indebtedness secured by a Lien on the applicable Property at least equal in
amount to the Attributable Debt in respect of such Sale and Lease-Back Transaction without equally and ratably securing the Debt Securities (any&nbsp;Sale and Lease-Back Transaction entered into in
compliance with this clause&nbsp;(ii) being an "Unrestricted Sale and Lease-Back Transaction");&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
Sale and Lease-Back Transaction if the Company or such Restricted Subsidiary shall apply or cause to be applied, in the case of such sale or transfer
for cash, an amount equal to the greater of the fair market value of the Principal Property sold or transferred and leased back pursuant to such Sale and Lease-Back Transaction or the net proceeds of
such Sale and Lease-Back Transaction and, in the case of such sale or transfer otherwise than for cash, an amount equal to the fair market value of the Principal Property sold or transferred and
leased back pursuant to such Sale and Lease-Back Transaction, to (a)&nbsp;the retirement (other than any mandatory retirement), within 180&nbsp;days after the effective date of such Sale and
Lease-Back Transaction, of Indebtedness of the Company (which may but need not include any Debt Securities) ranking on a parity with, or prior to, such Debt Securities and owing to a Person other than
the Company or any Affiliate of the Company, or (b)&nbsp;the purchase, construction or improvement of real property or personal property used by the Company or its Restricted Subsidiaries in the
ordinary course of&nbsp;business. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Modification of the Trust Indenture  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With certain exceptions, the Trust Indenture, the rights and obligations of the Company and the rights of the holders of a particular
series of Debt Securities may be modified by the Company with the consent of the holders of not less than a majority in aggregate principal amount of such series of Debt Securities or a majority in
principal amount of such series voted at a duly constituted meeting; but no such modification may be made which would: (i)&nbsp;reduce in any manner the amount of, or change the currency of payment
of, or delay the time of any payments (whether of principal, premium, interest or otherwise); (ii)&nbsp;change the definition of or the manner of calculating amounts (including any change in the
applicable rate or rates of interest) to which any holder is entitled; or (iii)&nbsp;reduce the above-stated percentage of Debt Securities of such series, in each case without the consent of the
holder of each Debt Security of such series so affected or the consent of 100% of the principal amount of such the Debt Securities of such series voted at a duly constituted meeting. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Events of Default  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trust Indenture provides that an event of default with respect to any series of Debt Securities means any one of the following
events (whatever the reason for such event of default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any government
authority): </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
default in the payment by the Company of the principal of (or&nbsp;premium, if any, on) any Debt Securities of such series when the same becomes due and
payable at maturity, upon acceleration, redemption or otherwise, or in any obligation to repurchase Debt Securities of such series when required pursuant to the&nbsp;Indenture;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
default in the payment by the Company of interest on any Debt Securities of such series when the same becomes due and payable, and such default continues
for a period of 30&nbsp;days; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>10</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<UL>
<UL>
</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
default by the Company in the performance of or breach of any other covenant or agreement of the Company with respect to such series of Debt Securities
and such default or breach continues for a period of 60&nbsp;days after written notice to the Company by the Trustee or the holders of at least 25% of the unpaid aggregate principal amount of the
outstanding Debt Securities of such&nbsp;series;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
any representation or warranty made by the Company in relation to a series of Debt Securities was incorrect in any material respect when made and, if it
is capable of being corrected with reference to the presently existing facts and circumstances, such representation or warranty is not corrected within 60&nbsp;days after written notice to the
Company by the Trustee or the holders of at least 25% of the unpaid aggregate principal amount of the outstanding Debt Securities of such&nbsp;series;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
failure by the Company or any Subsidiary to pay when due or within any applicable grace period, any payment of Indebtedness of the Company or any
Subsidiary in an aggregate principal amount in excess of US$75&nbsp;million (or&nbsp;its equivalent in any other currency or currencies), or any default occurs in respect of any Indebtedness of
the Company or any Subsidiary in respect of any series of Debt Securities having an aggregate principal amount exceeding US$75&nbsp;million (or&nbsp;its equivalent in any other currency or
currencies) after the expiration of any applicable grace period, if such default has resulted in such Indebtedness in excess of such aggregate principal amount becoming due prior to its stated
maturity;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>a
distress, attachment, execution or other similar legal process for any amount exceeding US$75&nbsp;million (or&nbsp;its equivalent in any other
currency or currencies) is levied or enforced against any part of the Property of the Company or any Subsidiary and such distress, attachment, execution or similar legal process has not been paid out,
satisfied or withdrawn within 60&nbsp;days of the date of such levy or enforcement;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>certain
events of bankruptcy, insolvency or reorganization of the Company or any&nbsp;Subsidiary. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is required to file with the Trustee an annual officers' certificate as to the absence of certain defaults under the Trust Indenture. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trust Indenture provides that if an event of default (other than an event of default specified in clause&nbsp;(vii) above in relation to the Company) shall occur and be continuing
with respect to a series of Debt Securities issued thereunder, the Trustee may in its discretion and shall upon request of the holders of not less than 25% in principal amount of the outstanding Debt
Securities of such series declare the principal of, together with accrued interest on, all Debt Securities of such series to be due and payable. In certain cases, the holders of a majority in
aggregate principal amount of such series of Debt Securities or a majority in principal amount of such series voted at a duly constituted meeting may on behalf of the holders of all such Debt
Securities waive any past default or event of default and rescind and annul any such declaration and its consequences. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trust Indenture further provides that if an event of default specified in clause&nbsp;(vii) above in relation to the Company occurs, the principal of and any accrued interest on
the Debt Securities then outstanding shall become immediately due and payable; provided however that at any time after an automatic acceleration with respect to the Debt Securities has been made, the
holders of a majority in aggregate principal amount of such series of Debt Securities or a majority in principal amount of such series voted at a duly constituted meeting may, under certain
circumstances, rescind and annul such acceleration and its consequences. </FONT></P>

</DIV>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trust Indenture contains a provision entitling the Trustee, subject to its duty during a default to act with the required standard of care, to be indemnified by the holders of Debt
Securities of such series before proceeding to exercise any right or power under the Trust Indenture at the request of such holders. The Trust Indenture provides that no holder of Debt Securities of
any series may pursue a remedy with respect to the Trust Indenture except in the case of failure of the Trustee to&nbsp;act. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Defeasance  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Defeasance of Certain Obligations  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the supplement to the Trust Indenture so provides, the Company may elect, with respect to any series of Debt Securities, either to
be (a)&nbsp;discharged from its obligations in respect of such Debt Securities, or (b)&nbsp;released from its obligations under positive and negative covenants (other than its covenant to maintain
its existence and pay the principal, premium, interest and other amounts on such Debt Securities) and the occurrence of certain events will be deemed not to be or result in a default or
event of default. Following such election, the Company will be so discharged or released, provided: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Company has, at least 91&nbsp;days prior to such discharge becoming effective, irrevocably deposited with the Trustee, as specific security pledged
for, and dedicated solely to, the due payment and ultimate satisfaction of all of its obligations under the Indenture with respect to the Debt Securities of the series affected, and free and clear of
any Lien, (a)&nbsp;funds in the currency or currencies in which such Debt Securities are payable, and/or (b)&nbsp;an amount of direct obligations of, or obligations the payment of principal of and
interest, if any, on which are fully guaranteed by, the government that issued the currency or currencies in which Debt Securities of such series are payable, and that are not subject to prepayment,
redemption or call, as will together with the predetermined and certain income to accrue thereon without consideration of any reinvestment thereof, be sufficient (in&nbsp;the case of such
obligations, through the payment of interest and principal thereunder) to pay (x)&nbsp;the principal of (and&nbsp;premium, if any) and interest and other amounts on the outstanding Debt Securities
of the particular series on their stated due dates or maturity, as the case may be, and (y)&nbsp;any mandatory prepayments on the day on which such prepayments are due and&nbsp;payable;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Company shall have delivered to the Trustee an opinion of counsel to the effect that the holders of the Debt Securities affected will not recognize
income, gain or loss for Canadian federal income tax purposes as a result of such defeasance in respect of the Company's obligations and will be subject to Canadian federal income tax on the same
basis as if such defeasance had not&nbsp;occurred;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>such
defeasance will not result in a breach or violation of, or constitute a default under, the Trust Indenture or any other material agreement or
instrument to which the Company is a party or by which it is&nbsp;bound;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>no
event of default with respect to the Debt Securities of such series or event that, with notice or lapse of time, would become such an event of default
shall have occurred and be continuing on the date of such&nbsp;deposit;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
the Debt Securities affected are listed on any stock exchange or securities exchange, the Company shall have delivered to the Trustee an opinion of
counsel to the effect that such deposit and defeasance will not cause such Debt Securities to be delisted;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Company shall have delivered to the Trustee an officers' certificate and an opinion of counsel, each stating that all conditions precedent to the
defeasance have been&nbsp;satisfied. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Other Defeasance Arrangements  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If so described in the Prospectus Supplement related to Debt Securities of a specific series, the Company may enter into certain other
arrangements providing for the due payment and ultimate satisfaction of its obligations with respect to such series of Debt Securities by the deposit with the Trustee of funds or obligations of the
type referred to under "&#151;&nbsp;Defeasance of Certain Obligations" above. The Prospectus Supplement will more fully describe the provisions, if any, relating thereto. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=16,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=111509,FOLIO='12',FILE='DISK132:[16ZAR2.16ZAR19902]DC19902A.;7',USER='SSTALKE',CD='14-MAR-2016;17:55' -->
<A NAME="page_dc19902_1_13"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Amalgamation, Consolidation, Conveyance, Transfer or Lease  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trust Indenture provides that the Company will not consolidate, merge or amalgamate with any other Person or effect any conveyance,
sale, transfer or lease of its Property substantially as an entirety, unless, in such&nbsp;case: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Person formed by such consolidation or amalgamation or with which the Company is merged (or&nbsp;the Person that leases or that acquires by
conveyance, sale or transfer the Property of the Company substantially as an entirety) (such Person being referred to as the "Successor Corporation") is a corporation organized and validly existing
under the laws of Canada or any province thereof;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Successor Corporation shall expressly, by supplemental indenture, assume and become bound by the obligations of the Company under the terms of
the&nbsp;Indenture;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>after
giving effect to such transaction no default or event of default is or will be occurring under the Trust Indenture or in respect of the Debt
Securities of any series;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
Company delivers to the Trustee an officer's certificate and opinion of counsel confirming that the foregoing conditions have been&nbsp;met. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Governing Law  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trust Indenture is governed by, and construed in accordance with, the laws of the Province of&nbsp;Ontario. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Certain Definitions  </B></FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Affiliate</B></FONT><FONT SIZE=2>" means, with respect to any Person, any other Person that directly, or indirectly through one or
more intermediaries, controls, or is controlled by, or is under common control with, such&nbsp;Person.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Attributable Debt</B></FONT><FONT SIZE=2>" shall mean, in respect of a Sale and Lease-Back Transaction, at the time of
determination, the Capital Lease Obligations under the Capital Lease resulting from such Sale and Lease-Back Transaction as reflected on the consolidated balance sheet of the Company. Attributable
Debt may be reduced by the present value of the rental obligations, calculated on the same basis that any sublessee has for all or part of the same&nbsp;property.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Capital Lease</B></FONT><FONT SIZE=2>" means a lease that is required to be capitalized for financial reporting purposes in
accordance with Canadian generally accepted accounting principles consistently applied.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Capital Lease Obligations</B></FONT><FONT SIZE=2>" means indebtedness represented by obligations under a Capital Lease. The amount
of indebtedness will be the capitalized amount of the obligations determined in accordance with Canadian generally accepted accounting principles consistently applied.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Closing Date</B></FONT><FONT SIZE=2>" means the date on which the Debt Securities are issued.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Consolidated Net Tangible Assets</B></FONT><FONT SIZE=2>" means the consolidated total assets of TELUS and its Subsidiaries as
reflected in TELUS' most recent consolidated balance sheet preceding the date of determination prepared in accordance with Canadian generally accepted accounting principles consistently applied, less
(a)&nbsp;current liabilities, excluding the amount of those which are by their terms extendable or renewable at the option of the obligor to a date more than 12&nbsp;months after the date as of
which the amount is being determined and current maturities of long-term debt and Capital Lease Obligations, and (b)&nbsp;goodwill, tradenames, trademarks, patents, minority interests of others,
unamortized debt discount and expense and other similar intangible assets, excluding any investments in permits, licenses and the subscriber&nbsp;base.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Indebtedness</B></FONT><FONT SIZE=2>" means, with respect to any Person, (without duplication) (a)&nbsp;any liability of such
Person (1)&nbsp;for borrowed money, or under any reimbursement obligation relating to a letter of credit, or (2)&nbsp;evidenced by a bond, note, debenture or similar instrument (including a
purchase money obligation arising in connection with the acquisition of any businesses, properties or assets of any kind, other than a trade payable or a current liability arising in the ordinary
course of business), or (3)&nbsp;for the payment of Capital Lease Obligations; (b)&nbsp;any liability of others described in the preceding clause&nbsp;(a) that the Person has guaranteed or that
is otherwise its legal liability; (c)&nbsp;any amendment, supplement, modification, </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dc19902_1_14"> </A>
<UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>deferral,
renewal, extension or refunding of any liability of the types referred to in clauses&nbsp;(a) and&nbsp;(b) above; and (d)&nbsp;in the case of any Restricted Subsidiary, the aggregate
amount at which any preference shares of such Restricted Subsidiary are redeemable or retractable at the option of the holder (excluding any such preference shares that are owned by the Company or any
Restricted Subsidiary).  </FONT></P>

</UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Lien</B></FONT><FONT SIZE=2>" means any mortgage, pledge, lien, security interest, charge or other encumbrance or preferential
arrangement (including any conditional sale or other title retention agreement or lease in the nature thereof other than a title retention agreement in connection with the purchase of goods in the
ordinary course of business which is outstanding for not more than 90&nbsp;days).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Person</B></FONT><FONT SIZE=2>" means any natural person, corporation, firm, partnership, joint venture or other unincorporated
association, trust, government or governmental authority and pronouns have a similar extended meaning.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Principal Property</B></FONT><FONT SIZE=2>" means at any time any Property which has a fair market value or a book value in excess
of US$5&nbsp;million (or&nbsp;its equivalent in any other currency or&nbsp;currencies).
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Property</B></FONT><FONT SIZE=2>" means any asset, revenue or any other property or property right or interest, whether tangible
or intangible, real or personal, including, without limitation, any right to receive&nbsp;income.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Restricted Subsidiary</B></FONT><FONT SIZE=2>" means (a)&nbsp;TELUS Communications&nbsp;Inc. and (b)&nbsp;at any time any
other Subsidiary of TELUS, if at the end of the most recent fiscal quarter for which the Company has issued its financial statements, the total assets of such Subsidiary exceeds 10% of the
consolidated assets of TELUS and its Subsidiaries, determined in accordance with Canadian generally accepted accounting principles consistently applied, provided that Restricted Subsidiary shall not
include any Subsidiary that is principally engaged in the wireless business or TELUS Quebec&nbsp;Inc.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Sale and Lease-Back Transaction</B></FONT><FONT SIZE=2>" means any transaction or series of related transactions pursuant to
which the Company or any Restricted Subsidiary sells or transfers any Principal Property, or any Property which together with any other Property subject to the same transaction or series of related
transactions would in the aggregate constitute a Principal Property, of the Company or such Restricted Subsidiary to any Person and leases back such Principal Property (or&nbsp;other Properties) by
way of a Capital Lease Obligation but does not include (a)&nbsp;any Sale and Lease-Back Transaction between the Company and its Restricted Subsidiaries or between Restricted Subsidiaries, or
(b)&nbsp;any Sale and Lease-Back Transaction where the term of the lease back is less than three&nbsp;years.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>"</FONT><FONT
SIZE=2><B>Subsidiary</B></FONT><FONT SIZE=2>" means any company or other business entity which the Company owns or controls (either
directly or through one or more other Subsidiaries) more than 50% of the issued share capital or other ownership interest, in each case having ordinary voting power to elect directors, managers or
trustees of such company or other business entity (whether or not capital stock or other ownership interest or any other class or classes shall or might have voting power upon the occurrence of any
contingency). </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_description_of_share_capital"> </A>
<A NAME="toc_dc19902_1"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF SHARE CAPITAL    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> General  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following sets forth the terms and provisions of the existing capital of the Company. The particular terms and provisions of the
Equity Securities offered by a Prospectus Supplement and the extent to which these general terms and provisions apply will be described in such Prospectus Supplement. The Company is authorized under
its Notice of Articles to issue up to 1,000,000,000&nbsp;shares of each class of first preferred shares (the&nbsp;"First Preferred Shares"), second preferred shares (the&nbsp;"Second Preferred
Shares") and up to 2,000,000,000&nbsp;Common Shares. Certain of the rights and attributes of each class are described below. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> First Preferred Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Shares Issuable in Series  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The First Preferred Shares may be issued at any time or from time to time in one or more series. Before any shares of a series are
issued, the Board of Directors of the Company shall fix the number of shares that will form such series and shall, subject to the limitations set out in the articles of the Company, determine the
designation, </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dc19902_1_15"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>rights,
privileges, restrictions and conditions to be attached to the First Preferred Shares of such series, except that no series shall be granted the right to vote at a general meeting of the
shareholders of the Company or the right to be convertible or exchangeable for Common Shares, directly or&nbsp;indirectly. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Priority  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The First Preferred Shares of each series shall rank on a parity with the First Preferred Shares of every other series with respect to
dividends and return of capital and shall be entitled to a preference over the Second Preferred Shares and the Common Shares and over any other shares ranking junior to the First Preferred Shares with
respect to priority in payment of dividends and in the distribution of assets in the event of liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, or any other
distribution of the assets of the Company among its shareholders for the purpose of winding-up its&nbsp;affairs. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Voting Rights  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as required by law, holders of the First Preferred Shares as a class shall not be entitled to receive notice of, to attend or to
vote at any meeting of the shareholders of the Company, provided that the rights, privileges, restrictions and conditions attached to the First Preferred Shares as a class may be added to, changed or
removed only with the approval of the holders of the First Preferred Shares given in such manner as may then be required by law, subject to a minimum requirement that such approval be given by
resolution signed by the holders of not less than two-thirds of the First Preferred Shares then outstanding, or passed by an affirmative vote of at least two-thirds of the votes cast at a meeting of
the holders of the First Preferred Shares duly called for that&nbsp;purpose. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Second Preferred Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Shares Issuable in Series  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Second Preferred Shares may be issued at any time or from time to time in one or more series. Before any shares of a series are
issued, the Board of Directors of the Company shall fix the number of shares that will form such series and shall, subject to the limitations set out in the articles of the Company, determine the
designation, rights, privileges, restrictions and conditions to be attached to the Second Preferred Shares of such series, except that no series shall be granted the right to vote at a general meeting
of the shareholders of the Company or the right to be convertible or exchangeable for Common Shares, directly or&nbsp;indirectly. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Priority  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Second Preferred Shares of each series shall rank on a parity with the Second Preferred Shares of every other series with respect
to dividends and return of capital and shall, subject to the prior rights of the holders of the First Preferred Shares, be entitled to a preference over the Common Shares and over any other shares
ranking junior to the Second Preferred Shares with respect to priority in payment of dividends and in the distribution of assets in the event of liquidation, dissolution or winding-up of the Company,
whether voluntary or involuntary, or any other distribution of the assets of the Company among its shareholders for the purpose of winding-up its&nbsp;affairs. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Voting Rights  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as required by law, holders of the Second Preferred Shares as a class shall not be entitled to receive notice of, to attend or
to vote at any meeting of the shareholders of the Company, provided that the rights, privileges, restrictions and conditions attached to the Second Preferred Shares as a class may be added to, changed
or removed only with the approval of the holders of the Second Preferred Shares given in such manner as may then be required by law, subject to a minimum requirement that such approval be given by
resolution signed by the holders of not less than two-thirds of the Second Preferred Shares then outstanding, or passed by an affirmative vote of at least two-thirds of the votes cast at a meeting of
the holders of the Second Preferred Shares duly called for that&nbsp;purpose. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dc19902_1_16"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Common Shares  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Priority  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of Common Shares shall be entitled to participate equally with each other as to dividends and the Company shall pay
dividends thereon, as and when declared by the Board of Directors of the Company out of monies properly applicable to the payment of dividends, in amounts per share and at the same time on all such
Common Shares at the time outstanding as the Board of Directors of the Company may from time to time determine. In the event of the liquidation, dissolution or winding-up of the Company or other
distribution of assets of the Company among its shareholders for the purpose of winding-up its affairs, all the property and assets of the Company which remain after payment to the holders of any
shares ranking in priority to the Common Shares in respect of payment upon liquidation, dissolution or winding-up of all amounts attributed and properly payable to such holders of such other shares in
the event of such liquidation, dissolution or winding-up or distribution, shall be paid and distributed equally, share for share, to the holders of the Common Shares, without preference
or&nbsp;distinction. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Voting Rights  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of the Common Shares shall be entitled to receive notice of and to attend (in&nbsp;person or by proxy) and be heard at
all general meetings of the shareholders of the Company (other than separate meetings of the holders of shares of any other class of shares of the Company or any other series of shares of such other
class of shares) and to vote at all such general meetings with each holder of Common Shares being entitled to one vote per Common Share held at all such&nbsp;meetings. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> Ownership and Voting Restrictions  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Canadian persons shall not beneficially own or control, otherwise than by way of security only, in the aggregate more than the
Restricted Percentage (as&nbsp;defined below) of the issued and outstanding voting shares of the Company (the&nbsp;"non-Canadian share constraint"). The Restricted Percentage is the maximum
percentage of the issued and outstanding voting shares of the Company that may be beneficially owned or controlled, otherwise than by way of security only, by non-Canadian persons without rendering
any subsidiary of the Company ineligible to operate as a telecommunications common carrier pursuant to the </FONT><FONT SIZE=2><I>Telecommunications Act</I></FONT><FONT SIZE=2>, or to be granted a
licence under the </FONT><FONT SIZE=2><I>Broadcasting Act</I></FONT><FONT SIZE=2> or the </FONT><FONT SIZE=2><I>Radiocommunication&nbsp;Act</I></FONT><FONT SIZE=2>. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
power of the Company to issue any voting shares and to restrict the right of any holder of voting shares of the Company to transfer or vote such voting shares is as provided in the
Telecommunications Regulations, the Broadcasting Direction and the Radiocommunication Regulations, as amended from time to time (collectively, the "Applicable Regulations") or in the articles of the
Company. The Company has the power to suspend voting rights, to refuse the transfer of shares, to redeem or purchase, or to sell or to require the sale of voting shares of the Company as provided in
the Applicable Regulations or the articles of the
Company, for the purpose of ensuring that any subsidiary of the Company is not ineligible to operate as a telecommunications common carrier pursuant to the </FONT><FONT SIZE=2><I>Telecommunications
Ac</I></FONT><FONT SIZE=2>t, or to be granted a licence under the </FONT><FONT SIZE=2><I>Broadcasting Act</I></FONT><FONT SIZE=2> or the </FONT> <FONT SIZE=2><I>Radiocommunication&nbsp;Act</I></FONT><FONT SIZE=2>. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to declarations which may be requested by the Company pursuant to the Applicable Regulations, the Company may request that a person who: (1)&nbsp;is or proposes to be a
registered holder of voting shares of the Company; (2)&nbsp;holds or proposes to hold or is believed by the Company to hold voting shares of the Company on behalf of another person, other than as a
registered holder; (3)&nbsp;subscribes for voting shares of the Company; (4)&nbsp;requests registration of a transfer of voting shares of the Company; (5)&nbsp;requests a change in registration
of voting shares of the Company; or (6)&nbsp;elects to convert or exchange any securities into or for voting shares of the Company, file&nbsp;a declaration with the Company or its transfer agent
within the time limit prescribed in the request. The person to whom a request is made pursuant to the articles of the Company shall submit the declaration in a form authorized by the Company, and
shall contain the information requested by the Company to enable the Company to determine whether the non-Canadian share constraint is being or may be&nbsp;contravened. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=20,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=240404,FOLIO='16',FILE='DISK132:[16ZAR2.16ZAR19902]DC19902A.;7',USER='SSTALKE',CD='14-MAR-2016;17:55' -->
<A NAME="page_dc19902_1_17"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision of the articles of the Company or the rules or operating procedures established pursuant to the articles of the Company, a contravention of the
non-Canadian share constraint shall have no consequences except those that are expressly provided for in the articles of the Company or the Applicable Regulations. For greater certainty but without
limiting the generality of the foregoing: (1)&nbsp;no transfer, issue or ownership of, and no title to, voting shares of the Company; (2)&nbsp;no resolution of shareholders (except to the extent
that the result thereof is affected as a result of a determination pursuant to the Applicable Regulations to suspend the voting rights of any voting shareholders); and (3)&nbsp;no act of the
Company, including any transfer of property to or by the Company, shall be invalid or otherwise affected by any contravention of the non-Canadian share constraint or the failure to make the adjustment
in voting as may be required or permitted pursuant to the Applicable Regulations. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
administering the ownership restriction provisions of the articles of the Company and the Applicable Regulations, including, without limitation, in making any directors'
determination, the Company and any of its directors, officers, employees and agents may rely on, among other things, the Company's central securities register. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
ownership restriction provisions of the articles of the Company shall cease to be binding on the Company and its shareholders upon the repeal of the Applicable Regulations, and shall
cease to be applicable and binding to the extent permitted by all of the </FONT><FONT SIZE=2><I>Telecommunications Act</I></FONT><FONT SIZE=2>, the </FONT><FONT SIZE=2><I>Radiocommunication
Act</I></FONT><FONT SIZE=2> and the </FONT><FONT SIZE=2><I>Broadcasting Act</I></FONT><FONT SIZE=2>, from time to&nbsp;time. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B><I> TELUS Shareholder Rights Plan  </I></B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TELUS first adopted a shareholder rights plan in March&nbsp;2000. In May&nbsp;2010, the holders of the Common Shares and Non-Voting
Shares ratified a substantially similar shareholder rights plan. On May&nbsp;9, 2013, the holders of the Common Shares approved the amendment of, and reconfirmation of, the shareholder rights plan
(the&nbsp;"Rights Plan"), which among other things, reflects the elimination of the Non-Voting Share class from TELUS' authorized share structure. Under the Rights Plan, TELUS issued one right
(a&nbsp;"Right") in respect of each Common Share outstanding as at such date. The Rights Plan expires upon the conclusion of TELUS' annual meeting in 2019 and is subject to shareholder confirmation
every three years. The Rights will separate from the Common Shares and will be exercisable eight trading days after a person has acquired, or commences to acquire, 20% or more of the Common Shares,
other than by acquisition pursuant to a takeover bid permitted by the Rights Plan (a&nbsp;"Permitted Bid"). The acquisition by any person (an&nbsp;"Acquiring Person") of more than 20% of the
Voting Shares (as&nbsp;defined in the Rights Plan), other than by way of a Permitted Bid, is referred to as a "Flip-in Event". Any Rights held by an Acquiring Person will become void upon the
occurrence of a Flip-in Event. Eight trading days after the occurrence of the Flip-in Event, each Right (other than those held by the Acquiring Person), will permit the purchase of $320 worth of
Common Shares for $160 (i.e.&nbsp;at a 50%&nbsp;discount). </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_description_of_warrants"> </A>
<A NAME="toc_dc19902_2"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF WARRANTS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This section describes the general terms that will apply to any Warrants for the purchase of Equity Securities (the&nbsp;"Equity
Warrants") or for the purchase of Debt Securities (the&nbsp;"Debt Warrants"). </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warrants
may be offered separately or together with Equity Securities or Debt Securities, as the case may be. Each series of Warrants will be issued under a separate Warrant agreement to
be entered into between the Company and one or more banks or trust companies acting as Warrant agent. The applicable Prospectus Supplement will include details of the Warrant agreements covering the
Warrants being offered. The Warrant agent will act solely as the agent of the Company and will not assume a relationship of agency with any holders of Warrant certificates or beneficial owners of
Warrants. The specific terms of the Warrants, and the extent to which the general terms described in this section apply to those Warrants, will be set forth in the applicable Prospectus Supplement. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Original
purchasers of Equity Warrants or Debt Warrants (if&nbsp;offered separately) will be granted a contractual right of rescission against the Company in respect of the conversion,
exchange or exercise of such Equity Warrant or Debt Warrant. The contractual right of rescission will entitle such original purchasers to receive the amount paid upon conversion, exchange or exercise,
upon surrender of the underlying securities gained thereby, in the event that this Prospectus (as&nbsp;supplemented or amended) contains a misrepresentation, </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=21,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=561443,FOLIO='17',FILE='DISK132:[16ZAR2.16ZAR19902]DC19902A.;7',USER='SSTALKE',CD='14-MAR-2016;17:55' -->
<A NAME="page_dc19902_1_18"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>provided
that: (i)&nbsp;the conversion, exchange or exercise takes place within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or exercisable security under this
Prospectus; and (ii)&nbsp;the right of rescission is exercised within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or exercisable security under this Prospectus. This
contractual right of rescission will be consistent with the statutory right of rescission described under section&nbsp;131 of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2>
(British Columbia), and is in addition to any other right or remedy available to original purchasers under section&nbsp;131 of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2>
(British Columbia) or otherwise at&nbsp;law. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
an offering of Warrants, investors are cautioned that the statutory right of action for damages for a misrepresentation contained in the prospectus is limited, in certain provincial
securities legislation, to the price at which the Warrant is offered to the public under the prospectus offering. This means that, under the securities legislation of certain provinces, if the
purchaser pays additional amounts upon conversion, exchange or exercise of the security, those amounts many not be recoverable under the statutory right of action for damages that applies in those
provinces. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province for the particulars of this right of action for damages and consult with a
legal&nbsp;adviser. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Equity Warrants  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The particular terms of each issue of Equity Warrants will be described in the related Prospectus Supplement. This description will
include, where applicable: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation and aggregate number of Equity Warrants;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
price at which the Equity Warrants will be offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
currency or currencies in which the Equity Warrants will be offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation and terms of the Equity Securities purchasable upon exercise of the Equity Warrants;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date on which the right to exercise the Equity Warrants will commence and the date on which the right will&nbsp;expire;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
number of Equity Securities that may be purchased upon exercise of each Equity Warrant and the price at which and currency or currencies in which that
amount of securities may be purchased upon exercise of each Equity&nbsp;Warrant;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation and terms of any securities with which the Equity Warrants will be offered, if any, and the number of the Equity Warrants that will be
offered with each&nbsp;security;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date or dates, if any, on or after which the Equity Warrants and the related securities will be transferable separately;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>whether
the Equity Warrants are subject to redemption or call and, if so, the terms of such redemption or call provisions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>material
United&nbsp;States and Canadian tax consequences of owning the Equity Warrants;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other material terms or conditions of the Equity Warrants. </FONT></DD></DL>
</UL>

<P style="font-family:times;text-align:justify"><FONT SIZE=2><B> Debt Warrants  </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The particular terms of each issue of Debt Warrants will be described in the related Prospectus Supplement. This description will
include, where applicable: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation and aggregate number of Debt Warrants;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
price at which the Debt Warrants will be offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
currency or currencies in which the Debt Warrants will be offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
aggregate principal amount, currency or currencies, denominations and terms of the series of Debt Securities that may be purchased upon exercise of the
Debt&nbsp;Warrants; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=22,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=567043,FOLIO='18',FILE='DISK132:[16ZAR2.16ZAR19902]DC19902A.;7',USER='SSTALKE',CD='14-MAR-2016;17:55' -->
<A NAME="page_dc19902_1_19"> </A>
<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation and terms of any securities with which the Debt Warrants will be offered, if any, and the number of the Debt Warrants that will be offered
with each&nbsp;security;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date or dates, if any, on or after which the Debt Warrants and the related securities will be transferable separately;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
principal amount of Debt Securities that may be purchased upon exercise of each Debt Warrant and the price at which and currency or currencies in
which that principal amount of securities may be purchased upon exercise of each Debt&nbsp;Warrant;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
date on which the right to exercise the Debt Warrants will commence and the date on which the right will&nbsp;expire;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
minimum or maximum amount of Debt Warrants that may be exercised at any one&nbsp;time;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>whether
the Debt Warrants will be subject to redemption or call, and, if so, the terms of such redemption or call provisions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>material
United&nbsp;States and Canadian tax consequences of owning the Debt Warrants;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other material terms or conditions of the Debt Warrants. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_description_of_share_purchase___des03066"> </A>
<A NAME="toc_dc19902_3"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF SHARE PURCHASE CONTRACTS<BR>  AND SHARE PURCHASE OR EQUITY UNITS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue share purchase contracts, including contracts obligating holders to purchase from the Company, and the Company to
sell to the holders, a specified number of Equity Securities, at a future date or dates, or similar contracts issued on a "prepaid" basis (in&nbsp;each case, "Share Purchase Contracts"). The price
per Equity Security and the number of Equity Securities may be fixed at the time the Share Purchase Contracts are issued or may be determined by reference to a specific formula set forth in the Share
Purchase Contracts. The Share Purchase Contracts will require either the share purchase price be paid at the time the Share Purchase Contracts are issued or that payment be made at a specified future
date. The Share Purchase Contracts may be issued separately or as part of units consisting of a Share Purchase Contract and Debt Securities or obligations of third parties (including
U.S.&nbsp;treasury securities) (the&nbsp;"Share Purchase or Equity Units"), and may or may not serve as collateral for a holder's obligations. The Share Purchase Contracts may require holders to
secure their obligations thereunder in a specified manner. The Share Purchase Contracts also may require the Company to make periodic payments to the holders of the Share Purchase Contracts or vice
versa, and such payments may be unsecured or refunded on some&nbsp;basis. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
applicable Prospectus Supplement will describe the terms of the Share Purchase Contracts or Share Purchase or Equity Units. The description in the Prospectus Supplement will not
necessarily be complete, and reference will be made to the Share Purchase Contracts, and, if applicable, collateral, depositary or custodial arrangements, relating to the Share Purchase Contracts or
Share Purchase or Equity Units. Material United&nbsp;States and Canadian federal income tax considerations applicable to the holders of the Share Purchase or Equity Units and the Share Purchase
Contracts will also be discussed in the applicable Prospectus Supplement. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Original
purchasers of Share Purchase Contracts or Share Purchase or Equity Units will be granted a contractual right of rescission against the Company in respect of the conversion,
exchange or exercise of such Share Purchase Contract or Share Purchase or Equity Unit. The contractual right of rescission will entitle such original purchasers to receive the amount paid upon
conversion, exchange or exercise, upon surrender of the underlying securities gained thereby, in the event that this Prospectus (as&nbsp;supplemented or amended) contains a misrepresentation,
provided that: (i)&nbsp;the conversion, exchange or exercise takes place within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or exercisable security under this
Prospectus; and (ii)&nbsp;the right of rescission is exercised within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or exercisable security under this Prospectus. This
contractual right of rescission will be consistent with the statutory right of rescission described under section&nbsp;131 of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2>
(British Columbia), and is in addition to any other right or remedy available to original purchasers under section&nbsp;131 of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2>
(British Columbia) or otherwise at&nbsp;law. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=23,EFW="2227944",CP="TELUS CORPORATION",DN="1",CHK=151391,FOLIO='19',FILE='DISK132:[16ZAR2.16ZAR19902]DC19902A.;7',USER='SSTALKE',CD='14-MAR-2016;17:55' -->
<A NAME="page_dc19902_1_20"> </A>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
an offering of Share Purchase Contracts or Share Purchase or Equity Units, investors are cautioned that the statutory right of action for damages for a misrepresentation contained in
the prospectus is limited, in certain provincial securities legislation, to the price at which the Share Purchase Contracts or Share Purchase or Equity Units are offered to the public under the
prospectus offering. This means that, under the securities legislation of certain provinces, if the purchaser pays additional amounts upon conversion, exchange or exercise of the security, those
amounts many not be recoverable under the statutory right of action for damages that applies in those provinces. The purchaser should refer to any applicable provisions of the securities legislation
of the purchaser's province for the particulars of this right of action for damages and consult with a legal&nbsp;adviser. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_description_of_subscription_receipts"> </A>
<A NAME="toc_dc19902_4"> </A>
<BR></FONT><FONT SIZE=2><B>  DESCRIPTION OF SUBSCRIPTION RECEIPTS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TELUS may issue Subscription Receipts that entitle the holder to receive upon satisfaction of certain release conditions, and for no
additional consideration, Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units or any combination thereof. The Subscription Receipts may be offered
separately or together with other Securities, and Subscription Receipts sold with other Securities may be attached to or separate from the other Securities. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Subscription Receipts will be issued under one or more subscription receipt agreements that TELUS will enter into with one or more escrow agents. If underwriters or agents are
involved in the sale of Subscription Receipts, one or more of such underwriters or agents may also be parties to the subscription receipt agreement governing those Subscription Receipts. The relevant
subscription receipt agreement will establish the terms of the Subscription Receipts. Under the subscription receipt agreement, original purchasers of Subscription Receipts will be granted a
contractual right of rescission against the Company in respect of the conversion, exchange or exercise of such Subscription Receipts. The contractual right of rescission will entitle such original
purchasers to receive the amount paid for the Subscription Receipts, upon surrender of the underlying securities gained thereby, in the event that this Prospectus (as&nbsp;supplemented or amended)
contains a misrepresentation, provided that: (i)&nbsp;the conversion, exchange or exercise takes place within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or
exercisable security under this Prospectus; and (ii)&nbsp;the right of rescission is exercised within 180&nbsp;days of the date of the purchase of the convertible, exchangeable or exercisable
security under this Prospectus. This contractual right of rescission will be consistent with the statutory right of rescission described under section&nbsp;131 of the </FONT> <FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (British Columbia),
and is in addition to any other right or remedy available to original purchasers under section&nbsp;131 of the </FONT> <FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (British Columbia) or otherwise at&nbsp;law.
 </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
particular terms and provisions of any Subscription Receipts offered by TELUS, and the extent to which the general terms and provisions described in this section apply to those
Subscription Receipts, will be set out in the applicable Prospectus Supplement. All such terms will comply with any applicable requirements of the TSX relating to Subscription Receipts. The Prospectus
Supplement will include some or all of the&nbsp;following: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
number of Subscription Receipts offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
price at which the Subscription Receipts will be offered;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
designation, number and terms, as applicable, of the Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or
Equity Units to be received by holders of Subscription Receipts upon satisfaction of the release conditions, and the anti-dilution provisions that will result in the adjustment of
those&nbsp;numbers;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
release conditions that must be met in order for holders of Subscription Receipts to receive for no additional consideration, Debt Securities, Equity
Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units, as&nbsp;applicable;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
procedure for the issuance and delivery of Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share Purchase or Equity Units, as
applicable, to holders of Subscription Receipts upon satisfaction of the release conditions; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_dc19902_1_21"> </A>
<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>whether
any payments will be made to holders of Subscription Receipts upon delivery of the Debt Securities, Equity Securities, Warrants, Share Purchase
Contracts or Share Purchase or Equity Units, as applicable, upon satisfaction of the release conditions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
terms and conditions under which the escrow agent will hold in escrow all or a portion of the proceeds from the sale of the Subscription Receipts
together with any interest income earned thereon (collectively, the "Escrowed Funds"), pending satisfaction of the release conditions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
terms and conditions under which the escrow agent will hold the Debt Securities, Equity Securities, Warrants, Share Purchase Contracts or Share
Purchase or Equity Units, as applicable, pending the satisfaction of the release conditions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>the
terms and conditions under which the escrow agent will release all or a portion of the Escrowed Funds to TELUS upon satisfaction of the release
conditions;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>if
the Subscription Receipts are sold to or through underwriters or agents, the terms and conditions under which the escrow agent will release a portion of
the Escrowed Funds to such underwriters or agents in payment of all or a portion of their fees or commission in connection with the sale of the Subscription Receipts;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>procedures
for the refund by the escrow agent to holders of Subscription Receipts of all or a portion of the subscription price for their Subscription
Receipts, plus any pro&nbsp;rata entitlement to interest earned or income generated on such amount, if the release conditions are not&nbsp;satisfied;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
entitlement of TELUS to purchase the Subscription Receipts in the open market by private agreement or&nbsp;otherwise;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiii)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>whether
TELUS will issue the Subscription Receipts as global securities and, if so, who the depository will&nbsp;be;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xiv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>provisions
as to modification, amendment or variation of the subscription receipt agreement or any rights or terms attaching to the Subscription Receipts;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xv)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>material
Canadian tax consequences of owning Subscription Receipts; and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(xvi)</FONT></DT><DD style="font-family:times;text-align:justify"><FONT SIZE=2>any
other material terms, preferences, rights or limitations of, or restrictions on, the Subscription Receipts. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_denominations,_registration_and_transfer"> </A>
<A NAME="toc_dc19902_5"> </A>
<BR></FONT><FONT SIZE=2><B>  DENOMINATIONS, REGISTRATION AND TRANSFER    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities will be issued in fully registered form without coupons attached in either global or definitive form and in
denominations and integral multiples as set out in the applicable Prospectus Supplement (unless otherwise provided with respect to a particular series of Debt Securities pursuant to the provisions of
the Trust Indenture, as supplemented by a supplemental indenture). Other than in the case of book-entry only securities, Securities may be presented for registration of transfer (with the form of
transfer endorsed thereon duly executed) in the city specified for such purpose at the office of the registrar or transfer agent designated by the Company for such purpose with respect to any issue of
Securities referred to in the Prospectus Supplement. No service charge will be made for any transfer, conversion or exchange of the Securities but the Company may require payment of a sum to cover any
transfer tax or other governmental charge payable in connection therewith. Such transfer, conversion or exchange will be effected upon such registrar or transfer agent being satisfied with the
documents of title and the identity of the Person making the request. If a Prospectus Supplement refers to any registrar or transfer agent designated by the Company with respect to any issue of
Securities, the Company may at any time rescind the designation of any such registrar or transfer agent and appoint another in its place or approve any change in the location through which such
registrar or transfer agent&nbsp;acts. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the case of book-entry only securities, a global certificate or certificates representing the Securities will be held by a designated depository for its participants. The Securities
must be purchased or transferred through such participants, which includes securities brokers and dealers, banks and trust companies. The depository will establish and maintain book-entry accounts for
its participants acting on behalf of holders of the Securities. The </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<P style="font-family:times;text-align:justify"><FONT SIZE=2>interests
of such holders of Securities will be represented by entries in the records maintained by the participants. Holders of Securities issued in book-entry only form will not be entitled to
receive a certificate or other instrument evidencing their ownership thereof, except in limited circumstances. Each holder will receive a customer confirmation of purchase from the participants from
which the Securities are purchased in accordance with the practices and procedures of that participant. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_risk_factors"> </A>
<A NAME="toc_dc19902_6"> </A>
<BR></FONT><FONT SIZE=2><B>  RISK FACTORS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prospective investors in the Securities should consider carefully the matters set forth in the section entitled "Risks and risk
management" in Management's Discussion and Analysis of financial results in respect of the Company's most recent annual financial statements and in Management's Discussion and Analysis of financial
results in respect of the Company's interim financial statements filed thereafter, each of which is deemed to be incorporated by reference in this Prospectus. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_plan_of_distribution"> </A>
<A NAME="toc_dc19902_7"> </A>
<BR></FONT><FONT SIZE=2><B>  PLAN OF DISTRIBUTION    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may sell the Securities to or through underwriters or dealers, and also may sell Securities to one or more other purchasers
directly or through agents. Each Prospectus Supplement will set forth the terms of the offering, including the name or names of any underwriters or agents, the purchase price or prices of the
Securities and the proceeds to the Company from the sale of the&nbsp;Securities. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Securities may be sold, from time to time in one or more transactions at a fixed price or prices which may be changed or at market prices prevailing at the time of sale, at prices
related to such prevailing market prices or at negotiated prices. </FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriters,
dealers and agents who participate in the distribution of the Securities may be entitled under agreements to be entered into with the Company to indemnification by the
Company against certain liabilities, including liabilities under securities legislation, or to contribution with respect to payments which such underwriters, dealers or agents may be required to make
in respect thereof. Such underwriters, dealers and agents may be customers of, engage in transactions with, or perform services for, the Company in the ordinary course of&nbsp;business. </FONT></P>


<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with any offering of Securities, the underwriters or agents may, subject to applicable law, over-allot or effect transactions which stabilize or maintain the market price
of the Securities offered at a level above that which might otherwise prevail in the open market. Such transactions, if commenced, may be discontinued at any&nbsp;time. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_legal_matters"> </A>
<A NAME="toc_dc19902_8"> </A>
<BR></FONT><FONT SIZE=2><B>  LEGAL MATTERS    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters in connection with any offering hereunder will be passed upon by Norton Rose Fulbright Canada&nbsp;LLP,
Toronto, Ontario and by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP, New&nbsp;York, New&nbsp;York for the&nbsp;Company. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_expert"> </A>
<A NAME="toc_dc19902_9"> </A>
<BR></FONT><FONT SIZE=2><B>  EXPERT    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The auditor for the Company is Deloitte&nbsp;LLP, Independent Registered Public Accounting Firm, Vancouver, British Columbia.
Deloitte&nbsp;LLP is independent within the meaning of the Rules of Professional Conduct of the Chartered Professional Accountants of British Columbia. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc19902_documents_filed_as_par__dc102222"> </A>
<A NAME="toc_dc19902_10"> </A>
<BR></FONT><FONT SIZE=2><B>  DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT    <BR>    </B></FONT></P>

<P style="font-family:times;text-align:justify"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents have been or will be filed with the SEC as part of the Registration Statement of which this Prospectus
forms&nbsp;a part: the documents referred to under "Documents Incorporated by Reference"; consent of Deloitte&nbsp;LLP; powers of attorney from directors and officers of the Company; and the
Indenture. The Form&nbsp;F-X of the Company and the Form&nbsp;F-X of Computershare Trust Company of Canada have also separately been filed with the&nbsp;SEC. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="de19901_part_ii_information_not_requir__par03037"> </A>
<A NAME="toc_de19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART II<BR>  <BR>    INFORMATION NOT REQUIRED TO BE DELIVERED TO<BR>  OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>

<P style="font-family:times;;margin-left:10.0pt;text-indent:-10.0pt;"><FONT SIZE=2><B>


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Indemnification  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;160 to&nbsp;163 of the Business Corporations Act (British Columbia) (successor to the Company Act (British Columbia))
provide as&nbsp;follows: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160&nbsp;&nbsp;Subject
to section&nbsp;163, a company may do one or both of the following: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;indemnify
an eligible party against all eligible penalties to which the eligible party is or may be&nbsp;liable; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;after
the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an eligible party in respect of that proceeding. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161&nbsp;&nbsp;Subject
to section&nbsp;163, a company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by the eligible
party in respect of that proceeding if the eligible&nbsp;party </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;has
not been reimbursed for those expenses, and </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;is
wholly successful, on the merits or otherwise, in the outcome of the proceeding or is substantially successful on the merits in the outcome of the&nbsp;proceeding. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Subject
to section&nbsp;163 and subsection&nbsp;(2) of this section, a company may pay, as they are incurred in advance of the final disposition of
an eligible proceeding, the expenses actually and reasonably incurred by an eligible party in respect of that proceeding. </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;A
company must not make the payments referred to in subsection&nbsp;(1) unless the company first receives from the eligible party a written undertaking that, if it is
ultimately determined that the payment of expenses is prohibited by section&nbsp;163, the eligible party will repay the amounts advanced. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163&nbsp;&nbsp;(1)&nbsp;&nbsp;A
company must not indemnify an eligible party under section&nbsp;160(a) or&nbsp;pay the expenses of an eligible party under section&nbsp;160(b),
161 or&nbsp;162 if any of the following circumstances apply: </FONT></P>

<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;if
the indemnity or payment is made under an earlier agreement to indemnify or pay expenses and, at the time that the agreement to indemnify or pay expenses was made,
the company was prohibited from giving the indemnity or paying the expenses by its memorandum or&nbsp;articles; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;if
the indemnity or payment is made otherwise than under an earlier agreement to indemnify or pay expenses and, at the time that the indemnity or payment is made, the
company is prohibited from giving the indemnity or paying the expenses by its memorandum or&nbsp;articles; </FONT></P>


<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;if,
in relation to the subject matter of the eligible proceeding, the eligible party did not act honestly and in good faith with a view to the best interests of the
company or the associated corporation, as the case may&nbsp;be; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;in
the case of an eligible proceeding other than a civil proceeding, if the eligible party did not have reasonable grounds for believing that the eligible party's
conduct in respect of which the proceeding was brought was&nbsp;lawful. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>II-1</FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<A NAME="page_de19901_1_2"> </A>
<UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;If
an eligible proceeding is brought against an eligible party by or on behalf of the company or by or on behalf of an associated corporation, the company must not do
either of the&nbsp;following: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;indemnify
the eligible party under section&nbsp;160(a) in respect of the&nbsp;proceeding; </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;pay
the expenses of the eligible party under section&nbsp;160(b), 161 or&nbsp;162 in respect of the&nbsp;proceeding. </FONT></P>

</UL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;20
of the Articles of the Registrant provides as follows: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>20.1</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Mandatory
Indemnification of Eligible Parties </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the Business Corporations Act, the Company must indemnify an eligible party and his or her heirs and legal personal representatives against all eligible penalties to which
such person is or may be liable, and the Company must indemnify and pay expenses in advance of the final disposition of an eligible proceeding in accordance with, and to the fullest extent and in all
circumstances permitted by, the Business Corporations&nbsp;Act.  </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>20.2</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Indemnification
of Other Persons </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to any restrictions in the Business Corporations Act, the Company may indemnify any&nbsp;person.  </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>20.3</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Non-Compliance
with Business Corporations Act </FONT></DD></DL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure of an eligible party or any other person to comply with the Business Corporations Act or these Articles does not invalidate any indemnity to which he or she is entitled under
this&nbsp;Part.  </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>20.4</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Company
May Purchase Insurance </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the limitations contained in the Business Corporations Act, the Company may purchase and maintain insurance for the benefit of any person referred to in this
Article&nbsp;20. </FONT></P>

</UL>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by law, the Company has entered into an indemnification agreement with its directors for liabilities incurred while performing their duties. The Company also
maintains Directors'&nbsp;&amp; Officers' Liability and Fiduciary Liability insurance which protect individual directors and officers and the Company against claims made, provided they acted in good
faith on behalf of the Company, subject to policy restrictions. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be permitted to directors, officers or persons controlling the Registrant pursuant to
the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933, as amended,
and is therefore unenforceable. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>II-2</FONT></P>

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Exhibits  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:times;"></FONT></P>

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<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Exhibit<BR>
No. </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4.1**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Annual Information Form of the Company, dated March&nbsp;10, 2016 (incorporated by reference to Exhibit&nbsp;99.3 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10, 2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.2**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Audited Consolidated Financial Statements of the Company, including the notes thereto, as at and for the years ended December&nbsp;31, 2015 and 2014, together with the report of the independent registered public
accounting firm thereon dated February&nbsp;11, 2016 (incorporated by reference to Exhibit&nbsp;99.4 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10, 2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.3**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Management's Discussion and Analysis of the Company for the year ended December&nbsp;31, 2015 (incorporated by reference to Exhibit&nbsp;99.4 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10,
2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.4**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Information Circular of the Company, dated as of March&nbsp;18, 2015, prepared in connection with the Company's annual general meeting held on May&nbsp;7, 2015 (incorporated by reference to Exhibit&nbsp;99.1
to&nbsp;the Company's Form&nbsp;6-K filed on April&nbsp;2, 2015)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>5.1*&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>6.1***</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Powers of Attorney</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>7.1**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Form of Indenture (incorporated by reference to the Company's Form&nbsp;F-10/A filed on May&nbsp;22, 2001)</FONT></TD>
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 <DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Filed
herewith.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Incorporated
by reference.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>***</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Previously
filed. </FONT></DD></DL>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>II-3</FONT></P>

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NAME="page_di19901_1_1"> </A>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="di19901_part_iii_undertaking_a__di102253"> </A>
<A NAME="toc_di19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  PART III<BR>  UNDERTAKING AND CONSENT TO SERVICE OF PROCESS    <BR>    </B></FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B> Item&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Undertaking  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the Commission
staff, and to furnish promptly, when requested to do so by the Commission staff, information relating to the securities registered pursuant to this Form&nbsp;F-10 or&nbsp;to transactions in said
securities.  </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B> Item&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;Consent to&nbsp;Service of Process  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrently with the filing of this Registration Statement on Form&nbsp;F-10, the Registrant has filed with the Commission a written
irrevocable consent and power of attorney on Form&nbsp;F-X. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrently
with the filing of this Registration Statement on Form&nbsp;F-10, Computershare Trust Company of Canada, as trustee under the indenture relating to the securities
registered hereby, has filed with the Commission a written irrevocable consent and power of attorney on Form&nbsp;F-X. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
change to the name or address of the agent for service of the Registrant or the trustee will be communicated promptly to the Commission by amendment to Form&nbsp;F-X referencing
the file number of this Registration Statement. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>III-1</FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ja19901_signatures"> </A>
<A NAME="toc_ja19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SIGNATURES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form&nbsp;F-10 and&nbsp;has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City
of Vancouver, Province of British Columbia, Country of Canada, on this 29<SUP>th</SUP>&nbsp;day of March,&nbsp;2016. </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2> TELUS CORPORATION</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>/s/&nbsp;DARREN ENTWISTLE<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Name: Darren Entwistle<BR>
Title:&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>/s/&nbsp;JOHN GOSSLING<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Name: John Gossling<BR>
Title:&nbsp;&nbsp;Executive Vice-President and Chief Financial Officer<BR></FONT>
</TD>
</TR>
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<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated on the dates indicated. </FONT></P>
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<TH NOWRAP  COLSPAN=3 ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT SIZE=1><B>Name

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 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:17pt;"><FONT SIZE=1><B>Title

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 </B></FONT></DIV></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:17pt;"><FONT SIZE=1><B>Date


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 </B></FONT></DIV></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Darren Entwistle</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Director, President and Chief Executive Officer (Principal Executive Officer)</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> John Gossling</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Executive Vice-President and Chief Financial Officer (Principal Financial and Accounting Officer)</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> R.H. (Dick) Auchinleck</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Chair</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Micheline Bouchard</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> R. John Butler</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Raymond T. Chan</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Stockwell Day</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


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</FONT> <FONT SIZE=2> Lisa de Wilde</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Ruston E.T. Goepel</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Mary Jo Haddad</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> John S. Lacey</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:17pt;"><FONT SIZE=1><B>Title

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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH NOWRAP  ALIGN="CENTER" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:17pt;"><FONT SIZE=1><B>Date


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</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>*<BR>


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</FONT> <FONT SIZE=2> William A. MacKinnon</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> John Manley</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Sarabjit Marwah</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>
*<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Donald Woodley</FONT></TD>
<TD VALIGN="TOP" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Director</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><BR><FONT SIZE=2>*By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2>STEPHEN LEWIS</FONT><FONT SIZE=2><BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Stephen Lewis</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>Attorney-in-Fact</FONT></TD>
<TD VALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" VALIGN="CENTER" style="font-family:times;"><BR><FONT SIZE=2>March&nbsp;29, 2016</FONT></TD>
</TR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="je19901_authorized_representative"> </A>
<A NAME="toc_je19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  AUTHORIZED REPRESENTATIVE    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section&nbsp;6(a) of the Securities Act of 1933, the authorized representative has duly caused this
Registration Statement to be signed on its behalf by the undersigned, solely in its capacity as the duly authorized representative of TELUS Corporation in the United&nbsp;States, in the State of
Delaware, Country of the United&nbsp;States of America, on this 29<SUP>th</SUP>&nbsp;day of March,&nbsp;2016. </FONT></P>
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<p style="font-family:times;"></FONT></P>

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<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><B> PUGLISI AND ASSOCIATES</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>/s/&nbsp;DONALD J. PUGLISI<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Name: Donald J. Puglisi<BR>
Title:&nbsp;&nbsp;Managing Director<BR></FONT>
</TD>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="jg19901_exhibit_index"> </A>
<A NAME="toc_jg19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT INDEX    <BR>    </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:times;"></FONT></P>

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<TD WIDTH="51pt" style="font-family:times;"></TD>
<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="" style="font-family:times;"></TD>
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<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Exhibit<BR>
No. </B></FONT></TH>
<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>4.1**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Annual Information Form of the Company, dated March&nbsp;10, 2016 (incorporated by reference to Exhibit&nbsp;99.3 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10, 2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.2**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Audited Consolidated Financial Statements of the Company, including the notes thereto, as at and for the years ended December&nbsp;31, 2015 and 2014, together with the report of the independent registered public
accounting firm thereon dated February&nbsp;11, 2016 (incorporated by reference to Exhibit&nbsp;99.4 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10, 2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.3**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Management's Discussion and Analysis of the Company for the year ended December&nbsp;31, 2015 (incorporated by reference to Exhibit&nbsp;99.4 to&nbsp;the Company's Form&nbsp;40-F filed on March&nbsp;10,
2016)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>4.4**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Information Circular of the Company, dated as of March&nbsp;18, 2015, prepared in connection with the Company's annual general meeting held on May&nbsp;7, 2015 (incorporated by reference to Exhibit&nbsp;99.1
to&nbsp;the Company's Form&nbsp;6-K filed on April&nbsp;2, 2015)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>5.1*&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Consent of Deloitte&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>6.1***</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Powers of Attorney</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>7.1**&nbsp;&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Form of Indenture (incorporated by reference to the Company's Form&nbsp;F-10/A filed on May&nbsp;22, 2001)</FONT></TD>
</TR>
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<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Filed
herewith.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>**</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Incorporated
by reference.
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>***</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Previously
filed. </FONT></DD></DL>
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<P><br><A NAME="16ZAR19901_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19901_1">PART I INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_1">TABLE OF CONTENTS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_2">DOCUMENTS INCORPORATED BY REFERENCE</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_3">REFERENCE TO CURRENCY</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_4">FORWARD-LOOKING STATEMENTS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_5">TELUS CORPORATION</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_6">USE OF PROCEEDS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_7">EARNINGS COVERAGE RATIOS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_8">PRIOR SALES</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_9">MARKET PRICE AND TRADING VOLUME</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da19902_10">DESCRIPTION OF DEBT SECURITIES</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_1">DESCRIPTION OF SHARE CAPITAL</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_2">DESCRIPTION OF WARRANTS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_3">DESCRIPTION OF SHARE PURCHASE CONTRACTS AND SHARE PURCHASE OR EQUITY UNITS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_4">DESCRIPTION OF SUBSCRIPTION RECEIPTS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_5">DENOMINATIONS, REGISTRATION AND TRANSFER</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_6">RISK FACTORS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_7">PLAN OF DISTRIBUTION</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_8">LEGAL MATTERS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_9">EXPERT</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dc19902_10">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_de19901_1">PART II INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_di19901_1">PART III UNDERTAKING AND CONSENT TO SERVICE OF PROCESS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ja19901_1">SIGNATURES</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_je19901_1">AUTHORIZED REPRESENTATIVE</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_jg19901_1">EXHIBIT INDEX</A></FONT><BR>
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<FONT SIZE=3 ><A HREF="#16ZAR19901_2">QuickLinks</A></FONT>
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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="ji19901_exhibit_5.1"> </A>
<A NAME="toc_ji19901_1"> </A>
<BR></FONT><FONT SIZE=2><B>  Exhibit&nbsp;5.1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ji19901_consent_of_independent__ji102323"> </A>
<A NAME="toc_ji19901_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Consent of Independent Registered Public Accounting Firm    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the incorporation by reference in this Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;F-10
(Registration Statement No.&nbsp;333-210204) of our reports dated February&nbsp;11, 2016 relating to the consolidated financial statements of TELUS Corporation and subsidiaries
(the&nbsp;"Company") and the effectiveness of the Company's internal controls over financial reporting, appearing in the Annual Report on Form&nbsp;40-F of TELUS Corporation for the year ended
December&nbsp;31,&nbsp;2015. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><U>/s/
Deloitte&nbsp;LLP</U> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>Chartered
Professional Accountants<BR>
Vancouver, Canada<BR>
March&nbsp;29, 2016 </FONT></P>

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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ji19901_1">Exhibit 5.1</A></FONT><BR>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ji19901_2">Consent of Independent Registered Public Accounting Firm</A></FONT><BR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
