Telus 2014 Annual Report Download - page 3

3
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements about expected events and the
financial and operating performance of TELUS Corporation. Forward-looking statements
include statements relating to annual targets, outlook, guidance and updates, our multi-
year dividend growth program, our 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 us 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, we disclaim any intention or obligation to update
or revise any forward-looking statements. Our general trends, outlook and assumptions
for 2015 are described in Section 9 of the MD&A.
Factors that could cause actual performance to differ materially from the forward-looking
statements made herein and in other TELUS filings include, but are not limited to:
 Competition including: continued intense rivalry across all services among
established telecommunications companies, new entrants, cable-TV providers, other
communications companies and growing over-the-top (OTT) services; the potential
entry of new competitors; competition for wireless spectrum; our ability to continue to
retain customers through an enhanced customer service experience; network access
line (NAL) losses; subscriber additions and retention volumes and associated costs
for wireless, TV and high-speed Internet services; pressures on wireless average
revenue per subscriber unit per month (ARPU) from market conditions and
government actions, flat-rate pricing trends for voice and data, inclusive long
distance plans for voice, and increasing availability of Wi-Fi networks for data; and
our ability to obtain and offer content on a timely basis across multiple devices on
wireless and TV platforms at a reasonable cost.
 Regulatory decisions and developments including: the federal government’s stated
intention to further increase wireless competition, including a fourth national wireless
provider, reduce roaming costs on wireless networks in Canada, including the
Competition Bureau’s recommendation to the Canadian Radio-television and
Telecommunications Commission (CRTC) that it should implement remedies to
provide more favourable roaming access terms to new entrant service providers and
require further unbundling of TV channels; future spectrum auctions (including
limitations on established wireless providers, spectrum set-aside favouring new
entrant 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 outcome of the CRTC review of mandated wireline
wholesale services, including consideration of mandated competitor access to fibre-
to-the-premises facilities; 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; vertical integration by competitors into broadcast content ownership
and timely and effective enforcement of related regulatory safeguards; ongoing
monitoring and compliance with restrictions on non-Canadian ownership of TELUS
Common Shares; modification, interpretation and application of tower sharing and