Suncor Strategy

Our purpose

Our strategy

Our six strategic objectives

1

Grow long term returns on invested capital

Cash return to shareholders

6 to 8%

Return profits through dividends and share buybacks

Free funds flow growth

3 to 5%

Long-term annual growth: $2B annual free funds flow growth by 2025

Return on capital

Mid-teens+

For new investments. Increase returns on existing investments

Maintain financial discipline and strong balance sheet so we continue to be resilient and competitive

Balance maximizing value of base business and economically competitive energy expansion investments

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2

Be a net-zero greenhouse gas emissions company by 2050 and substantially contribute to society’s net zero goals

3

Sustain and optimize our base business while improving its cost and carbon competitiveness

Operational excellence

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Safety

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Reliability

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Cost competitiveness

Reduce emissions

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Energy efficiency improvements

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Fuel switching

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Carbon capture storage (CCUS)

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Implementation of new technologies

4

Grow low GHG emissions businesses that will materially contribute to earnings and cash flow

Grow our renewable fuels production to meet our customer needs for low carbon fuel

Renewable fuels

Grow our renewable fuels production to meet our customer needs for low carbon fuels

Deliver low GHG electricity capacity to market

Electricity

Deliver low GHG electricity capacity to market

Develop a low GHG hydrogen to market business

Hydrogen

Develop a low GHG hydrogen to market business

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5

Grow our customer connection through new low carbon products and services

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Provide cleaner energy choices for customers

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Develop solutions for customers to buy energy in simple ways

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Listen to and help customers understand consumption and lower their GHG emissions

6

Achieve world-class ESG performance and disclosure while being recognized as a leader in sustainability and the energy transition

This page contains forward-looking information. Please see Advisory for further information.