Financial Data and Key Metrics Changes - Suncor reported the highest quarterly adjusted funds from operations in its history at approximately $5.3 billion or $3.80 per share, with free funds flow after capital expenditures of $4.1 billion or $2.88 per share [12][20] - The company returned $3.2 billion or nearly 60% of adjusted funds from operations through dividends and share buybacks back to shareholders [20] - Net debt increased due to FX translation loss from the weaker Canadian dollar, but the company expects to achieve a $12 billion net debt target in the second half of the year [21][22] Business Line Data and Key Metrics Changes - Upstream production was 720,000 barrels per day, with oil sands operations producing 365,000 barrels per day, impacted by planned maintenance and unplanned events [13] - Syncrude production reached 189,000 barrels per day, exceeding plans, while Fort Hills produced 87,000 barrels per day, in line with expectations [14] - Downstream operations generated record adjusted funds from operations, with throughput of 389,000 barrels per day reflecting planned maintenance and unplanned events [15] Market Data and Key Metrics Changes - Upstream realizations were on par with WTI, and downstream captured strong product market values with near 100% market capture [12] - The average price realized for SCO was CAD 141 per barrel, and for bitumen, it was CAD 120 per barrel, both trending above headline benchmarks [22] Company Strategy and Development Direction - The company aims to optimize and sustain its base business while increasing shareholder returns, reducing its carbon footprint, and investing in lower carbon energy [9] - Suncor is reviewing options for its retail business to maximize long-term value for shareholders and plans to disclose results in the fourth quarter [10] - The company signed a sales agreement for its Norway assets for approximately $400 million and is in the final round of selling its wind assets [11] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of improving safety and operating performance, with a commitment to building a better safety culture [8][27] - The company is focused on executing changes necessary to improve performance and deliver expected value to shareholders [7] - Management acknowledged headwinds from higher commodity costs and inflation but noted good progress on initiatives [10] Other Important Information - The company updated its annual production guidance to 740,000 to 760,000 barrels per day and capital guidance to a range of $4.9 billion to $5.2 billion for 2022 [17][18] Q&A Session Summary Question: Can you shed light on safety initiatives and what has been uncovered? - Management discussed in-depth safety assessments and ongoing initiatives to improve safety, including investment in technologies and strengthening risk management systems [35][36] Question: Current status update on oil sands, Fort Hills, and Syncrude? - Management provided updates on strong performance in Syncrude and ongoing maintenance in Fort Hills, with some reliability issues persisting in base plant operations [37][38] Question: Clarification on CapEx increase? - The increase in capital guidance was attributed to the West White Rose project restart, increased spending on turnarounds, and general inflationary pressures [42][44] Question: Status of free cash flow and buybacks? - Management confirmed a focus on buybacks in the second quarter, with plans to shift towards debt reduction in the latter half of the year [45] Question: Impact of CapEx on safety and technology initiatives? - Management indicated ongoing programs for safety improvements and technology implementation, with a focus on accelerating these initiatives where feasible [48][49] Question: Key differences in safety records compared to peers? - Management highlighted that safety issues stem from execution in the field rather than underinvestment in technology, emphasizing the need for robust controls and engagement at the front line [58][60] Question: Why is $9 billion the hard floor for net debt? - The rationale for the $9 billion net debt target is based on historical cash flow generation in low commodity price environments [64] Question: Impact of retail sale on downstream margins? - Management stated that the review of the retail business will consider its impact on downstream margins and overall business value [68] Question: Status of turnaround cycles post-pandemic? - Management confirmed that there are no deferrals from the pandemic, and the company is on a regular turnaround cycle [74] Question: Source of working capital headwind in Q2? - The headwind was primarily price-related, affecting accounts receivable and inventory valuations, with expectations for improvement in the latter half of the year [75]

Suncor Energy Inc. (NYSE:SU) Q1 2022 Results Conference Call May 10, 2022 9:30 AM ET Company Participants Trevor Bell - VP of IR Mark Little - President and CEO Alister Cowan - CFO Conference Call Participants Greg Pardy - RBC Capital Markets Phil Gresh - JPMorgan Neil Mehta - Goldman Sachs Dennis Fong - CIBC Capital Roger Read - Wells Fargo Menno Hulshof - TD Securities Manav Gupta - Credit Suisse Doug Leggate - Bank of America Operator Good day, and thank you for standing by. Welcome to the Suncor Energy ...

TABLE OF CONTENTS Exhibit 99.1 Annual Report 2021 TABLE OF CONTENTS Our purpose To provide trusted energy that enhances people's lives, while caring for each other and the earth Contents 1 2021 Highlights Message to Shareholders 2 9 2022 Corporate Guidance Advisories 10 14 Management's Discussion and Analysis 82 Management's Statement of Responsibility for Financial Reporting 83 Management's Report on Internal Control over Financial Reporting 84 Independent Auditor's Report 87 Audited Consolidated Financial ...

Suncor Energy Inc. (NYSE:SU) Q4 2021 Earnings Conference Call February 3, 2022 9:30 AM ET .. Company Participants Trevor Bell - VP of IR Mark Little - President and CEO Alister Cowan - CFO Conference Call Participants Neil Mehta - Goldman Sachs Greg Pardy - RBC Capital Markets Phil Gresh - JPMorgan Doug Leggate - Bank of America Merrill Lynch Manav Gupta - Credit Suisse Dennis Fong - CIBC World Markets Operator Good day and thank you for standing by. Welcome to the Suncor Energy Fourth Quarter 2021 Financia ...

| --- | --- | --- | |------------------------------------|-------|-------| | | | | | | | | | SUNCOR ENERGY | | | | Investor Information | | | | Q3 2021 Published October 27, 2021 | | | Integrated Model 2019 / 2020 AVERAGES OF PRODUCTS SOLD TO MARKET OFFSHORE ~15% FFO1 104 kbpd2 PROCESSING, INFRASTRUCTURE & LOGISTICS5 Processing & using extensive infrastructure, logistics & trading to optimize product movement across value chain SYNTHETIC CRUDE OIL ~25% FFO1 315 kbpd2 BASE ENERGY SOURCES4 Sale of unprocessed ...

Suncor Energy Inc. (NYSE:SU) Q3 2021 Earnings Conference Call October 28, 2021 9:30 AM ET Company Participants Trevor Bell – Vice President of Investor Relations Mark Little – President Chief Executive Officer Alister Cowan – Chief Financial Officer Conference Call Participants Neil Mehta – Goldman Sachs Greg Pardy – RBC Capital Markets Phil Gresh – JPMorgan Dennis Fong – CIBC World Markets Menno Hulshof – TD Securities Manav Gupta – Credit Suisse Harry Mateer – Barclays Roger Read – Wells Fargo Operator Go ...

Suncor Energy Inc. (NYSE:SU) Q2 2021 Earnings Conference Call July 29, 2021 9:30 AM ET Company Participants Trevor Bell - Vice President of Investor Relations Mark Little - President and Chief Executive Officer Alister Cowan - Chief Financial Officer Conference Call Participants Greg Pardy - RBC Capital Markets Neil Mehta - Goldman Sachs Phil Gresh - JPMorgan Manav Gupta - Credit Suisse Operator Good day, and thank you for standing by. Welcome to the Suncor Energy Second Quarter Earnings Call. At this time, ...

SUNCOR ENERGY SUNCOR ENERGY Investor Information Q2 2021 Published July 28, 2021 Integrated Model 2019 / 2020 AVERAGES OF PRODUCTS SOLD TO MARKET OFFSHORE ~15% FFO1 104 kbpd2 PROCESSING, INFRASTRUCTURE & LOGISTICS5 Processing & using extensive infrastructure, logistics & trading to optimize product movement across value chain SYNTHETIC CRUDE OIL ~25% FFO1 315 kbpd2 BASE ENERGY SOURCES4 Sale of unprocessed energy products, majority at US Gulf Coast heavy pricing BITUMEN ~10% FFO1 138 kbpd2 HIGH VALUE ENERGY ...

Suncor Energy Inc. (NYSE:SU) Q1 2021 Earnings Conference Call May 4, 2021 9:30 AM ET Company Participants Trevor Bell - Vice President of Investor Relations Mark Little - President and Chief Executive Officer Alister Cowan - Chief Financial Officer Conference Call Participants Greg Pardy - RBC Capital Markets Neil Mehta - Goldman Sachs Group, Inc. Philip Gresh - JPMorgan Chase & Co. Manav Gupta - Credit Suisse AG Christopher Tillett - Barclays Bank PLC Operator Good day, and thank you for standing by, and w ...

SUNCOR ENERGY SUNCOR ENERGY Investor Information Q1 2021 Published May 3, 2021 Integrated Model 2019 / 2020 AVERAGES OF PRODUCTS SOLD TO MARKET OFFSHORE ~15% FFO1 104 kbpd2 PROCESSING, INFRASTRUCTURE & LOGISTICS5 Processing & using extensive infrastructure, logistics & trading to optimize product movement across value chain SYNTHETIC CRUDE OIL ~25% FFO1 315 kbpd2 BASE ENERGY SOURCES4 Sale of unprocessed energy products, majority at US Gulf Coast heavy pricing BITUMEN ~10% FFO1 138 kbpd2 HIGH VALUE ENERGY SO ...