Fourth Quarter Fiscal 2014 Investor Conference Call

October 23, 2014

1:30pm MT/3:30pm ET

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Forward Looking Information Disclaimer

Statements included in this presentation that

are not historic (including those showing “2015 Free Cash Flow

Guidance") constitute forward-looking statements. Forward-

looking statements are based on assumptions and involve risks

and other factors which may cause actual results to be

materially different from views expressed or implied by such

statements. Accordingly, forward-looking statements are not

guaranteed and undue reliance should not be placed on them.

Material risks and other factors that could cause actual results

to differ materially from the views expressed in forward-looking

statements and material assumptions underlying forward-

looking statements are identified in the Company's

Management’s Discussion and Analysis (“MD&A”) for fiscal

2014 and for Q4 2014 which have been filed with the Canadian

securities regulatory authorities and the U.S. Securities and

Exchange Commission.

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Exceptional

Customer

Experience

Customer surveys indicate a

75% likelihood to recommend

Continue to build awareness

and define Exceptional

Customer Experience

Company wide commitment

Performance based

management / accountability

Leading

Technology

Invest in and leverage our

network advantage to

support emerging

technology trends

WiFi reach +45K hotspots

and +1.25M registered

devices on the network

Launched 13 TVE apps,

Shaw Go Gateway app and

shomi announcement

Announcement of ViaWest

acquisition (growth vehicle;

combined with Shaw

Business)

Customer

Profitability

Disciplined pricing and

promotion strategies –

maintaining RGU base

(6.1M)

+42% Q4/14 margins (~49%

Cable, ~33% Satellite, and

~18% Media)

~35% lower churn in F14 for

Shaw Internet WiFi users

Delivered FCF of $698M

and EBITDA growth of 3%

in F14 (excluding impact of

M&A)

Introduced F15 FCF

guidance of +$650M and

EBITDA growth of 5-7%

(incl. ViaWest)

Diligent cost management

(i.e. FTD) continue to

support strong margins

Operational

Efficiencies

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1 Operating income is before restructuring costs and amortization. Growth in operating income takes into account the net impact of

acquisition and disposition activity during the period. “Operating income before amortization” is defined and discussed under “Key

Performance Drivers” in the MD&A

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Financial Strength & Flexibility

FCF Generation Supports Return of Capital

1 Operating income is before restructuring costs and amortization. Growth in operating income takes into account the net impact of

acquisition and disposition activity during the period. “Operating income before amortization” is defined and discussed under “Key

Performance Drivers” in the MD&A 2 Pro forma for ViaWest acquisition. Assumes 50% debt treatment for preferred shares. Calculation excludes ViaWest subsidiary

net debt of ~US$370M 3 Consumer and Business “core” capex in F16+

Consumer Media Business

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Improves retention

Increases value proposition of Broadband

Complements Shaw GO/TVE Strategy

Portland

2 facilities

50k sq. ft.

Minneapolis

1 facility

43k sq. ft. Denver

5 facilities

196k sq. ft.

Dallas & Austin

8 facilities

140k sq. ft.

Salt Lake City

7 facilities

101k sq. ft.

Las Vegas

3 facilities

58k sq. ft.

Phoenix

1 facility

42k sq. ft.

1 data centre

1 market

2009 1999 2012 2014 2005

5 data centres

2 markets

16 data centres

5 markets

23 data centres

5 markets

27 data centres

8 markets

ViaWest will allow us to capitalize on growing and less competitive Western U.S. markets while leveraging

management expertise to provide best in class services to Shaw customers in Western Canada

Note: Square footage represents built out square footage.

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» Broadband is the most important service in the home » Sustainable customer

acquisition and retention initiatives across all RGU’s » Exercising financial

discipline » Sound returns through divestiture of non-core assets » Acquisition of

complementary assets to strengthen our core offerings » Providing exceptional

customer experiences » Accelerating investment to extend our infrastructure

advantage » Expanding our WiFi network across Western Canada » Launching

new value-added services » Additional bandwidth upgrades » Top-rated

programming and content » Focus on family values and the communities we

operate in » Loyalty to customers, employees and shareholders

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Thank you!

8 Note: For additional questions, please contact investor.relations@sjrb.ca