SUNCOR ENERGY Investor Information SUPPLEMENTAL Published May 3, 2021 SUNCOR ENERGY Table of Contents 1. Energy Sources 2. Processing, Infrastructure & Logistics 3. Consumer Channels 4. Sustainability 5. Technology Development 6. Integrated Model Calculation 7. Glossary SUNCOR ENERGY 2 SUNCOR ENERGY EnergyAppendix Sources 3 202003-038 Oil Sands Energy Sources *All values net to Suncor In Situ Mining Firebag Base Plant 215,000 bpd capacity 350,000 bpd capacity Suncor WI 100% Suncor WI 100% 2,743 mmbbls 2P reserves1 1,246 mmbbls 2P reserves1 Note: Millennium and North Steepank Mines do not supply full 350,000 bpd of capacity as significant in-situ volumes are sent through Base Plant MacKay River Syncrude 38,000 bpd capacity Syncrude operated Suncor WI 100% 205,600 bpd net coking capacity 497 mmbbls 2P reserves1 Suncor WI 58.74% 1,160 mmbbls 2P reserves1 Future opportunities Fort Hills ES-SAGD Firebag Expansion Suncor operated Lewis (SU WI 100%) 105,000 bpd net capacity Meadow Creek (SU WI 75%) Suncor WI 54.11% 1,418 mmbbls 2P reserves1 First oil achieved in January 2018 SUNCOR ENERGY 1 See Slide Notes and Advisories. 4 Regional synergy opportunities1 for existing assets Crude logistics Upgrader feedstock optionality from multiple oil sands assets Crude feedstock optionality for Edmonton refinery Supply chain Sparing, warehousing & supply chain management Consolidation of regional contracts (lodging, busing, flights, etc.) Operational optimizations Unplanned outage impact mitigations In SituSitu Turnaround planning optimization Process and technology sharing 100% WI Joint ownership Base mine upgrader and terminal U Syncrude upgrader Assets and resource developments C In situ central processing facility Lease development and asset utilization optimization P Fort Hills primary/secondary extraction Pipelines SUNCOR ENERGY 1 See Slide Notes and Advisories 5 Long life, low decline reserves base Typical attributes1 of North American oil plays Initial Decline Sustaining Operating Reservoir Recovery Illustrative annual FFO2 profiles3 capital rate costs cost risk factor Mining High Very low Low Medium Very low Very high ~90% of Suncor’s 2021 production guidance In Situ Medium Low Low Low Low High Offshore ~10% of Suncor’s 2021 High Medium Medium Very low Medium Medium production guidance Tight Oil Low Very high High Medium High Low 50 Years Beneficial attribute Challenging attribute SUNCOR ENERGY 1, 2, 3 See Slide Notes and Advisories 6 Offshore with ~300 million barrels of 2P reserves1 East Coast Canada North Sea Hibernia ExxonMobil operated Buzzard (UK) Suncor working interest 20% CNOOC Petroleum Europe Limited operated 73 mmboe 2P reserves1 (Suncor WI) Suncor working interest 29.9% 1 2020 avg net production: 23.2 mbbls/d 60 mmboe 2P reserves (Suncor WI) 2020 avg net production: 25.9 mboe/d Hebron ExxonMobil operated Suncor working interest 21.0% Golden Eagle (UK) 113 mmboe 2P reserves1 (Suncor WI) CNOOC Petroleum Europe Limited operated 2020 avg net production: 29.7 mbbls/d Suncor working interest 26.7% 12 mmboe 2P reserves1 (Suncor WI) 2020 avg net production: 7.8 mboe/d Terra Nova Divestiture announced - effective Jan 1, 2021 Suncor Energy operated Suncor working interest 37.7% 19 mmboe 2P reserves1 (Suncor WI) Oda (Norway) 2020 avg net production: 0 mbbls/d Spirit Energy operated3 Suncor working interest 30% 3 mmboe 2P reserves1 (Suncor WI) White Rose First oil achieved March 2019 Cenovus operated 2020 avg net production: 7.5 mboe/d Suncor working interest 27.5%2 4 mmboe 2P reserves1 (Suncor WI) 2020 avg net production: 6.7 mbbls/d SUNCOR ENERGY 1, 2, 3 See Slide Notes and Advisories 7 E&P – Investing in high value, low risk projects Recent performance Sanctioned projects1 mboe/d Fenja (Norway) 120 • 17.5% working interest Oda • 6 mbbls/d anticipated net peak production 100 Hebron White Rose 80 Buzzard Phase 2 (UK) Hibernia • 29.9% working interest 60 Terra Nova Golden Eagle • Production anticipated to offset natural declines 40 Buzzard 4 5 20 West White Rose Project (ECC ) • ~26% working interest 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 • 20 mbbls/d anticipated net peak production $billions Terra Nova Asset Life Extension4 (ECC5) 2.5 112 109 99 • 37.7% working interest • Extend asset life by approximately a decade 2.0 • Expect to produce additional 30 million barrels (Suncor WI) 64 2 1.5 71 FFO Free funds flow3 54 Capital spend 52 1.0 44 42 Brent ($US/bbl) Future opportunities • Rosebank – UK (40% Suncor WI) 0.5 • Near field developments including subsea tie-backs, field extensions and infill drilling - 2012 2013 2014 2015 2016 2017 2018 2019 2020 SUNCOR ENERGY 1, 2, 3, 4 See Slide Notes and Advisories 8 Power Generation Generating power for internal use & sale to the grid, including EV applications; currently 5th largest power producer in Alberta. 2,400 MW 1,400 MW CURRENT CURRENT + SANCTIONED PROJECTS1 Cogen: 96%; Renewables: 4% (online by YE 2025) Cogen: 89%; Renewables: 11% MW Working interest nameplate capacity Net capacity for grid export Net internal consumption SUNCOR ENERGY 1 See Slide Notes and Advisories. 9 SUNCOR ENERGY Processing,Appendix Infrastructure & Logistics 10 202003-038 Operations & Consumer Network 29 year Oil Sands Reserve Life Index1 ~25 mmbbl storage Western Canada ~1,875 PetroCanada sites2 ~15 mmbbl storage Eastern Canada Only refinery in Colorado ~10 mmbbl storage Central US & Gulf Coast OIL & REFINED PRODUCT STORAGE (SUNCOR OPERATED) CURRENT PIPELINES PROPOSED PIPELINES3 SUNCOR ENERGY 1, 2, 3 See Slide Notes & Advisories 11 Upgrading Upgrading processes heavy bitumen into a lighter, higher value product with a density Upgrading Process similar to that of WTI. LOW Once upgraded, the product can flow on a VALUE Mined & In-Situ Bitumen pipeline without the addition of diluent. HEAVY OIL (10° API) Total Suncor Net Upgrading Capacity: ~555 kbpd1 Coking, hydroconversion, • Base Plant ~15 – 20% yield loss thermal cracking &/or through upgrading process – 2 Upgrading Units hydrocracking • U1: 110 kbpd • U2: 240 kbpd – Produces sour & sweet SCO & diesel HIGH Sour Synthetic Crude Oil Optional: Hydrotreating • Syncrude (Gross values below – Suncor WI 58.74%) VALUE (30 - 35° API) (remove sulfur) LIGHT – 3 Upgrading Units OIL • U1: 100 kbpd • U2: 100 kbpd • U3: 150 kbpd Refinery Sweet Synthetic Crude Oil – Produces sweet SCO (30 - 35° API) • Edmonton Refinery – 30 kbpd coking capacity SUNCOR ENERGY 1 See Slide Notes & Advisories 12 Suncor’s proven oil sands reliability journey Suncor Base Plant upgrader reliability Multi-year journey to reach >90% reliability 91% 1 91% 2 90% 90% 90% 86% 83% Firebag to 81% Base Mine 79% interconnect pipeline fully operational Suncor began focusing on upgrader reliability initiatives in 2011 Culture – Operational excellence mindset Process – Integrated maintenance strategy/approach Infrastructure – Asset integration between Firebag and Base Plant 2012 2013 2014 2015 2016 2017 2018 2019 2020 Syncrude plant reliability In 2019, Syncrude achieved 2nd best annual production in asset’s history 3 A similar multi year journey targeting >90% reliability with 85% utilization4 2016/17 2018/19 >2021 (Target >90% reliability) Collaboration Culture Infrastructure Suncor’s active involvement in 31 technical/management Two bi-directional pipelines connecting Syncrude & Suncor’s Base Plant Syncrude’s reliability secondees from Suncor sharing improvement plan operational discipline learnings Better utilization of existing assets: • Normal operations - Transfer of sour synthetic and bitumen between assets • Planned and unplanned outages - Asset and production optimizations Sharing technical & reliability Process synergies best practices and support to Leveraging service & materials Construction completed and in-service in Q4 2020 improve productivity, reliability economies of scale and reduce costs Maintenance planning & execution coordination SUNCOR ENERGY 1, 2, 3, 4 See Slide Notes & Advisories 13 Market Access Suncor has made strategic investments in refineries and current/proposed logistics infrastructure to mitigate Alberta egress limitations & market disconnects Fort McMurray ~750 Alberta egress bottleneck does not impact the ability to move Suncor barrels1 146 Edmonton Hardisty Enbridge Line 3 Potential Markets Regina Central & Eastern Vancouver Cromer Canada, US Midwest & Gulf Coast 137 Montreal TMEP Potential Superior Markets Asia & California 85 Sarnia Steele City Chicago 98 Commerce Patoka City San Francisco Cushing Los Angeles Pipelines (current and forecasted gross capacity2) Feeder lines 2 Houston/Texas City Trans Mountain Pipeline, TMPL (300 mbpd) Suncor refinery capacity mbpd Trans Mountain Expansion , TMEP – Proposed3 (+590 mbpd)2 Industry approximate rail Express, Platte and Rocky Mountain (280 mbpd)2 mbpd loading capacity in TransCanada Keystone (590 mbpd)2 AB/SK Enbridge Mainline (2,600 mbpd)2 Enbridge Line 3 – Proposed3 (+370 mbpd) 2 Enbridge Line 9 (300 mbpd)2 Flanagan South Pipeline (585 mbpd)2 Marine opportunities SUNCOR ENERGY 1, 2, 3 See Slide Notes & Advisories 14 SUNCOR ENERGY ConsumerAppendix Channels 15 202003-038 Refined Product Markets ~500 mbpd Product sales in 1 2020 Edmonton refinery services region from BC to Ontario Montreal and 20% Sarnia have a Canadian local market reach over 22mm Export consumer fuel people5 capability market2 to US Pacific NW ~315 Wholesale Cardlock Locations3 Commerce City’s asphalt Commerce City is market only refinery in stretches into Colorado & largest Utah & Nevada 44 owned retail refinery in the US ~1,560 stations in Rockies