Telus 2013 Annual Report Download - page 5

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our earnings and free cash flow, and levels of capital expenditures and spectrum
licence purchases. Quarterly dividend decisions are subject to our Board of
Directors’ (Board) assessment and determination based on the Company’s financial
situation and outlook. Share purchase programs may be affected by the change in
our intention to purchase shares, and the assessment and determination of our
Board from time to time. Consequently, there can be no assurance that these
programs will be maintained through 2016.
 Human resource matters including recruitment, retention and appropriate training in
a highly competitive industry.
 Ability to successfully implement cost reduction initiatives and realize planned
savings, net of restructuring and other like costs, without losing customer service
focus or negatively impacting business operations. Initiatives include: our earnings
enhancement program to drive improvements in earnings before interest, income
taxes, depreciation and amortization (EBITDA) of $250 million by the end of 2015;
business integrations; business process outsourcing; internal offshoring and
reorganizations; procurement initiatives; and consolidation of real estate.
 Process risks including: reliance on legacy systems and ability to implement and
support new products and services and business operations; our ability to implement
effective change management for system replacements and upgrades, process
redesigns and business integrations; implementation of large enterprise deals that
may be adversely impacted by available resources and degree of co-operation from
other service providers; our ability to successfully manage operations in foreign
jurisdictions; information security breaches, including data loss or theft; and real
estate joint venture development risks.
 Tax matters including: tax law that may be subject to differing interpretation and the
tax authority’s interpretation that may be different from ours; 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 compliance.
 Business continuity events including: our ability to maintain customer service and
operate our networks in the event of human-caused threats such as electronic
attacks and human errors; equipment failures; supply chain disruptions; natural
disaster threats, epidemics and pandemics; and effectiveness of business continuity
and disaster recovery plans and responses.
 Litigation and legal matters including ability to successfully defend class actions
pending against us.
 Acquisitions or divestitures including ability to successfully integrate acquisitions or
complete divestitures in a timely manner, and realizing expected strategic benefits.
Health, safety and environmental developments and other risk factors discussed herein
and listed from time to time in our reports and public disclosure documents including our
annual report, annual information form, and other filings with securities commissions or
similar regulatory authorities in Canada (on SEDAR at sedar.com) and in our filings with
the Securities and Exchange Commission (SEC) in the United States, including Form
40-F (on EDGAR at sec.gov). Section 10: Risks and risk management in this MD&A is
incorporated by reference in this cautionary statement.