Forward-Looking Statements

This content contains certain “forward-looking statements” including statements about: Suncor’s vision, strategy and the business plans to achieve its strategic objectives; expectations about achieving a cost structure that provides financial resiliency in a $45 US WTI business environment, beliefs about decarbonization of base business and achieving net zero GHG emissions by 2050;  and expectations regarding free cash flow per share and delivery industry leading financial returns to investors. Some of the forward-looking statements may be identified by words such as “grow”, “estimated”, “target”, “goal”, “illustrative”, “strategy”, “expected”, “objectives”, “plans” and similar expressions. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Suncor. Users of this information are cautioned that actual results may differ materially as a result of, among other things, assumptions regarding:  commodity prices and interest and foreign exchange rates; the performance of assets and equipment; capital efficiencies and cost savings; assumptions relating to production, funds from operations, free funds flow, utilization, cash operating costs, annual capital expenditures, asset sustainment and maintenance capital, corporate and operating breakeven and the basis for such expectations; Suncor’s capital allocation framework; applicable government policies; the development and execution of projects;  assumptions contained in or relevant to Suncor’s Corporate Guidance; product supply and demand; market competition; future production rates; assets and facilities not performing as anticipated; expected debottlenecks, cost reductions and margin improvements not being achieved to the extent anticipated; dividends declared and share repurchases; the sufficiency of budgeted capital expenditures in carrying out planned activities; risks inherent in marketing operations (including credit risks); expected synergies and the ability to sustain reductions in costs; the ability to access external sources of debt and equity capital; the timing and the costs of well and pipeline construction; Suncor’s dependence on pipeline capacity and other logistical constraints, which may affect the company’s ability to distribute products to market; mandatory production curtailments being greater or imposed for longer than anticipated; the timely receipt of regulatory and other approvals; the timing of sanction decisions and Board of Directors’ approval; the availability and cost of labour, services, and infrastructure; the satisfaction by third parties of their obligations to Suncor; the impact of royalty, tax, environmental and other laws or regulations or the interpretations of such laws or regulations; applicable political and economic conditions; risks associated with existing and potential future lawsuits and regulatory actions; improvements in performance of assets; and the timing and impact of technology development. All dividends are at the discretion of Suncor’s Board of Directors.

Although Suncor believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Suncor’s quarterly Management’s Discussion & Analysis (MD&A), its Annual Reports and its most recently filed Annual Information Form/Form 40-F and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3, by calling 1-800-558-9071, or by email request to or by referring to the company’s profile on SEDAR at or EDGAR at Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Suncor’s actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.