Suncor Energy Investor Presentation — May 2024

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2024 Business Update

SUNCOR ENERGY 2Agenda

Winning proposition1

Chief Executive Officer

40+ years experience

Executive VP, Downstream30+ years experience

Executive VP, Oil Sands25+ years experienceKris Smith

Chief Financial Officer25+ years experience

Closing commentsSUNCOR ENERGY 3No significant spend on Base Mine replacement in next 5 years

•Capital spend profile reducing over forecast periodFree Funds Flow improvement of $3.3B by 2026E (@ US$75 WTI)

•WTI breakeven reduction of $10/bbl US by 2026E to ~$43/bbl USContinued Focus on the Fundamentals

•Significant progress, priority on safety, operational execution, reliability

Revised Net Debt Target*

•Increasing final target from $5B to $8B; have moved to 75% share buyback allocationExecutive summary

* Excludes capitalized leases SUNCOR ENERGY 4Creating value through our unparalleled, integrated upstream and downstream asset base,

underpinned by large scale, long -life oil sands resourcesSuncor’s strategy to win

in safety, operational

reliabilityAchieve a cost

resiliency in a less

environmentLeverage integration

customersDecarbonize base

business and capture

2050Grow free cash flow

per share and deliver

financial returns to

Oil Sands in situEast Coast offshore 790,000

bpd1Refining capacity

Commerce City466,000

EdmontonThere is integration...and there is “Suncor Integration”

1SUNCOR ENERGY 6•Smaller, more focused above -field support organization

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