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<SEC-DOCUMENT>0001047469-07-001298.txt : 20070220
<SEC-HEADER>0001047469-07-001298.hdr.sgml : 20070219
<ACCEPTANCE-DATETIME>20070220171349
ACCESSION NUMBER:		0001047469-07-001298
CONFORMED SUBMISSION TYPE:	F-9
PUBLIC DOCUMENT COUNT:		10
FILED AS OF DATE:		20070220
DATE AS OF CHANGE:		20070220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUNCOR ENERGY INC
		CENTRAL INDEX KEY:			0000311337
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-9
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-140797
		FILM NUMBER:		07636345

	BUSINESS ADDRESS:	
		STREET 1:		112 4TH AVENUE SW PO BOX 38
		STREET 2:		CALGARY
		CITY:			ALBERTA CANADA
		STATE:			A0
		ZIP:			T2P 2V5
		BUSINESS PHONE:		4032698100

	MAIL ADDRESS:	
		STREET 1:		112 FOURTH AVE SW BOX 38
		STREET 2:		CALGARY
		CITY:			ALBERTA CANADA
		ZIP:			T2P 2V5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUNCOR INC
		DATE OF NAME CHANGE:	19970430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREAT CANADIAN OIL SANDS & SUN OIL CO LTD
		DATE OF NAME CHANGE:	19791129
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-9
<SEQUENCE>1
<FILENAME>a2176157zf-9.htm
<DESCRIPTION>FORM F-9
<TEXT>
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<HEAD>
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<FONT SIZE=3 ><A HREF="#07ZAC3742_1">QuickLinks</A></FONT>
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<P ALIGN="CENTER"><FONT SIZE=1><B>As filed with the U.S.&nbsp;Securities and Exchange Commission on February&nbsp;20, 2007.  </B></FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=1><B> Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </B></FONT></P>


<P><FONT SIZE=1><B> <hr noshade width=100% align=left size=4>
<hr noshade width=100% align=left size=1>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=4><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=1><B>Washington,&nbsp;D.C. 20549  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=4><B>FORM F-9<BR>  </B></FONT><FONT SIZE=1><B>REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF&nbsp;1933  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=4><B>SUNCOR ENERGY&nbsp;INC.<BR>  </B></FONT><FONT SIZE=1>(Exact name of Registrant as specified in its charter) </FONT></P>

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<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=1><B>Canada</B></FONT><FONT SIZE=1><BR>
(Province or other jurisdiction<BR>
of incorporation or organization)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=1><B>1311, 1321, 2911, 4613, 5171, 5172</B></FONT><FONT SIZE=1><BR>
(Primary Standard Industrial<BR>
Classification Code Number)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=1><B>98-0343201</B></FONT><FONT SIZE=1><BR>
(I.R.S. Employer<BR>
Identification Number)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="TOP"><BR><FONT SIZE=1><B>112- 4<SUP>th</SUP>&nbsp;Avenue S.W., P.O. Box&nbsp;38, Calgary, Alberta, Canada, T2P&nbsp;2V5,<BR>
(403)&nbsp;269-8100</B></FONT><FONT SIZE=1><BR>
(Address and&nbsp;telephone number of Registrant's principal executive offices)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="TOP"><BR><FONT SIZE=1><B>CT Corporation System<BR>
111&nbsp;Eighth Avenue, 13<SUP>th</SUP>&nbsp;Floor, New&nbsp;York, NY 10011<BR>
(212)&nbsp;894-8700</B></FONT><FONT SIZE=1><BR>
(Name, address and telephone number of agent for service in the United&nbsp;States</FONT></TD>
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<TD COLSPAN=5 ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=1><BR>
<BR></FONT> <FONT SIZE=1><B>Copies to:</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER"><BR><FONT SIZE=1><B>Terrence J. Hopwood</B></FONT><FONT SIZE=1><BR>
Suncor Energy&nbsp;Inc.<BR>
112&nbsp;-&nbsp;4<SUP>th</SUP>&nbsp;Avenue S.W.<BR>
Calgary, Alberta<BR>
Canada T2P&nbsp;2V5<BR>
(403)&nbsp;269-8100</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><BR><FONT SIZE=1><B>Christopher J. Cummings</B></FONT><FONT SIZE=1><BR>
Shearman&nbsp;&amp; Sterling&nbsp;LLP<BR>
Commerce Court West<BR>
199&nbsp;Bay Street, Suite&nbsp;4405<BR>
Toronto, Ontario<BR>
Canada M5L&nbsp;1E8<BR>
(416)&nbsp;360-8484</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><BR><FONT SIZE=1><B>Andrew J. Foley</B></FONT><FONT SIZE=1><BR>
Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison&nbsp;LLP<BR>
1285&nbsp;Avenue of the Americas<BR>
New&nbsp;York, New&nbsp;York 10019-6064<BR>
(212)&nbsp;373-3000</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=1><B>Approximate date of commencement of proposed sale of the securities to the&nbsp;public:</B></FONT><FONT SIZE=1><BR>
From time to time after the effective date of this Registration Statement as determined by market conditions. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=1><B>Province of Alberta, Canada</B></FONT><FONT SIZE=1><BR>
(Principal jurisdiction regulating this offering) </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=1>It
is proposed that this filing shall become effective (check appropriate box): </FONT></P>

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<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1>A.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5><FONT SIZE=1>Upon filing with the Commission pursuant to Rule&nbsp;467(a) (if&nbsp;in connection with an offering being made contemporaneously in the United&nbsp;States and&nbsp;Canada).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1><BR>
B.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
<FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD COLSPAN=5><FONT SIZE=1><BR>
At some future date (check the appropriate box below):</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
1.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=1><BR>
pursuant to Rule&nbsp;467(b) on (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) at (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) (designate a time not sooner than seven calendar days
after&nbsp;filing).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
2.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=1><BR>
pursuant to Rule&nbsp;467(b) on (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) at (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) (designate a time seven calendar days or sooner after filing)
because the securities regulatory authority in the review jurisdiction has issued a receipt or notification of clearance on (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
3.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
<FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=1><BR>
pursuant to Rule&nbsp;467(b) as soon as practicable after notification of the Commission by the Registrant or the Canadian securities regulatory authority of the review jurisdiction that a receipt or notification of clearance has been issued with
respect&nbsp;hereto.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
4.</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=1><BR>
after the filing of the next amendment to this Form (if&nbsp;preliminary material is being&nbsp;filed).</FONT></TD>
</TR>
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<P><FONT SIZE=1>If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to the home jurisdiction's shelf prospectus offering procedures, check the following
box.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=1><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>

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<TD COLSPAN=7><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ALIGN="CENTER"><FONT SIZE=1><B>Title of Each Class of<BR>
Securities to be Registered</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="23%" ALIGN="CENTER"><FONT SIZE=1><B>Amount to be<BR>
Registered</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="23%" ALIGN="CENTER"><FONT SIZE=1><B>Proposed Maximum<BR>
Aggregate&nbsp;Offering Price(1)</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="23%" ALIGN="CENTER"><FONT SIZE=1><B>Amount of<BR>
Registration Fee(1)</B></FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=1><B>Debt securities</B></FONT></TD>
<TD WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>U.S.$2,000,000,000</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>U.S.$2,000,000,000</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>$61,400</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7><HR NOSHADE></TD>
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<DL compact>
<DT style='margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD><FONT SIZE=1>Estimated
solely for the purpose of calculating the amount of the registration fee. There are being registered under this Registration Statement such indeterminate principal amount of
debt securities of the Registrant as shall have an aggregate initial offering price not to exceed U.S.$2,000,000,000. If any debt securities are issued at an original issue discount, then the debt
securities registered shall include such additional debt securities as may be necessary such that the aggregate initial public offering price of all debt securities issued pursuant to this
Registration Statement will equal U.S.$2,000,000,000. Any debt securities registered under this Registration Statement may be sold separately or as units with other debt securities registered under
this Registration Statement. The proposed maximum initial offering price per debt security will be determined, from time to time, by the registrant in connection with the sale of the debt securities
registered under this Registration Statement. </FONT></DD></DL>
<BR>
<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=1><B>The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the registration statement
shall become effective as provided in Rule&nbsp;467 under the Securities Act of 1933 or on such date as the Commission, acting pursuant to Section&nbsp;8(a) of the Act,
may&nbsp;determine.</B></FONT></P>

<P><FONT SIZE=1><hr
noshade width=100% align=left size=1>
<hr noshade width=100% align=left size=4> </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="1",CHK=664715,FOLIO='blank',FILE='DISK125:[07ZAC2.07ZAC3742]BA3742A.;12',USER='RRICKEN',CD='19-FEB-2007;12:37' -->
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_bc3742_1_1"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bc3742_part_i_information_required_to__par02825"> </A>
<A NAME="toc_bc3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART I<BR>  <BR>    INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>I-1</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=2,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="1",CHK=480994,FOLIO='I-1',FILE='DISK125:[07ZAC2.07ZAC3742]BC3742A.;3',USER='DSHAPIR',CD='19-FEB-2007;14:03' -->
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<P><FONT SIZE=2><B>Prospectus  </B></FONT></P>

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<IMG SRC="g745244.jpg" ALT="GRAPHIC" WIDTH="243" HEIGHT="102">
 </B></FONT></TD>
<TD WIDTH="31%" ALIGN="CENTER" VALIGN="CENTER"><BR><FONT SIZE=5><B>Suncor Energy&nbsp;Inc.<BR> </B></FONT><FONT SIZE=4><B>U.S.$2,000,000,000<BR>
Debt Securities<BR> </B></FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=4><B><BR>
&nbsp;</B></FONT></TD>
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<P><FONT SIZE=2>We
may offer for sale from time to time, debt securities (the&nbsp;"</FONT><FONT SIZE=2><B>Debt Securities</B></FONT><FONT SIZE=2>") up to an aggregate initial offering price of U.S.$2,000,000,000
(or&nbsp;the equivalent in other currencies or currency units) during the 25&nbsp;month period that this prospectus, including any amendments hereto
(the&nbsp;"</FONT><FONT SIZE=2><B>Prospectus</B></FONT><FONT SIZE=2>"), remains effective. The aggregate amount shall be calculated, in the case of interest bearing Debt Securities, on the basis of
the principal amount of Debt Securities issued, and, in the case of non-interest bearing Debt Securities, on the basis of the gross proceeds received by&nbsp;us. </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=2><B>Neither the U.S.&nbsp;Securities and Exchange Commission nor any state securities commission has approved or disapproved these Debt Securities or determined if this
Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

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<P><FONT SIZE=2><B>We are permitted, under a multi-jurisdictional disclosure system adopted by the United&nbsp;States and Canada, to prepare this Prospectus in accordance with Canadian
disclosure requirements, which are different from those of the United&nbsp;States. We prepare our financial statements incorporated by reference herein in accordance with Canadian generally accepted
accounting practices, and they are subject to Canadian auditing and auditor independence standards. They may not be comparable to financial statements of United&nbsp;States companies. Information
regarding the impact upon our financial statements of significant differences between Canadian and U.S.&nbsp;generally accepted accounting principles is contained in the notes to our consolidated
financial statements incorporated by reference in this Prospectus.</B></FONT></P>

<P><FONT SIZE=2><B>Owning the Debt Securities may subject you to tax consequences both in the United&nbsp;States and Canada. This Prospectus or any applicable Prospectus Supplement
(as&nbsp;defined below) may not describe these tax consequences fully. You should read the tax discussion in any applicable Prospectus Supplement.</B></FONT></P>

<P><FONT SIZE=2><B>Your ability to enforce civil liabilities under the United&nbsp;States federal securities laws may be affected adversely because we are incorporated in Canada, most of our
officers and directors and all of the experts named in this Prospectus are Canadian residents, and many of our assets are located outside the United&nbsp;States.</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>The
date of this prospectus is February&nbsp;20, 2007 </FONT></P>

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<P style='page-break-before:always'></p>
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<P><FONT SIZE=2>
Debt Securities may be offered in amounts and on such terms and conditions as may be determined from time to time depending upon our financing requirements, prevailing market conditions and other
factors. The specific terms of any offering of Debt Securities including, where applicable, the specific designation of the Debt Securities, the currency, the maturity, the offering price, whether the
Debt Securities will bear interest, the interest rate or method for determining the interest rate, any terms of redemption and any other specific terms, will be set forth in a Prospectus Supplement
which will accompany this Prospectus. </FONT></P>

<P><FONT SIZE=2>All
shelf information permitted under applicable law to be omitted from this Prospectus will be contained in one or more Prospectus Supplements (each, a "</FONT><FONT SIZE=2><B>Prospectus
Supplement</B></FONT><FONT SIZE=2>") that will be delivered to purchasers together with this Prospectus, such delivery to be effected in the case of United&nbsp;States purchasers through the filing
of such Prospectus Supplement on the internet at <U>www.sec.gov.</U> Each Prospectus Supplement will be incorporated by reference into this Prospectus for the purposes of
securities legislation as of the date of the Prospectus Supplement and only for the purposes of the distribution of the Debt Securities to which the Prospectus Supplement pertains. </FONT></P>


<P><FONT SIZE=2>We
will provide the specific terms of the Debt Securities and all information omitted from this Prospectus in Prospectus Supplements. You should read this Prospectus and any applicable Prospectus
Supplement carefully before you&nbsp;invest. </FONT></P>

<P><FONT SIZE=2>We
may sell Debt Securities to or through underwriters or dealers purchasing as principals, and may also sell Debt Securities to one or more purchasers directly or through agents. See "Plan of
Distribution". The Prospectus Supplement relating to a particular offering of Debt Securities will identify each underwriter, dealer or agent, as the case may be, engaged by us in connection with the
offering and sale of the Debt Securities, and will set forth terms of the offering of Debt Securities, including the method of distribution of such Debt Securities, the proceeds to us and any fees,
discounts or any other compensation payable to underwriters, dealers or agents and any other material terms of the plan of distribution. It will also set forth the proceeds to&nbsp;us. </FONT></P>

<P><FONT SIZE=2>Unless
otherwise specified in the applicable Prospectus Supplement, each series or issue of Debt Securities will be a new issue of Debt Securities with no established trading market. The Debt
Securities may be sold from time to time in one or more transactions at a fixed price or prices or at non-fixed prices. If offered on a non-fixed price basis, the Debt
Securities may be offered at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at prices to be negotiated with purchasers, in which case the
compensation payable to any underwriter, dealer or agent in connection with any such sale will be the amount, if any, by which the aggregate price paid for the Debt Securities by the purchasers
exceeds the gross proceeds paid by the underwriter, dealer or agent to us and the price at which the Debt Securities will be offered and sold may vary as between purchasers during the distribution
period. </FONT></P>

<P><FONT SIZE=2><B>Unless otherwise specified in the applicable Prospectus Supplement, the Debt Securities will not be listed on any securities or stock exchange. There is no market through which
these securities may be sold and purchasers may not be able to resell securities purchased under this Prospectus. This may affect the pricing of the Debt Securities in the secondary market, the
transparency and availability of trading prices and the liquidity of the Debt Securities. See "Risk&nbsp;Factors".</B></FONT></P>


<P><FONT SIZE=2>Our
registered and principal office is located at 112&nbsp;-&nbsp;4th&nbsp;Avenue S.W., P.O.&nbsp;Box&nbsp;38, Calgary, Alberta, Canada T2P&nbsp;2V5. Telephone:
(403)&nbsp;269-8709. </FONT></P>

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<BR></FONT><FONT SIZE=2><B>TABLE OF CONTENTS    <BR>    </B></FONT></P>

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<TH WIDTH="92%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="CENTER"><FONT SIZE=1><B>Page</B></FONT><HR NOSHADE></TH>
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<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> About this Prospectus</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Documents Incorporated by Reference</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Forward-Looking Information</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Where You Can Find More Information</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Enforceability of Civil Liabilities</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Risk Factors</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Suncor Energy&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Use of Proceeds</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Interest Coverage</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Description of Debt Securities</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Plan of Distribution</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>29</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Certain Income Tax Consequences</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>30</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Legal Matters</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>30</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Interest of Experts</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>30</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="92%"><FONT SIZE=2> Documents Filed as Part of the Registration Statement</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>31</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg3742_about_this_prospectus"> </A>
<A NAME="toc_bg3742_2"> </A>
<BR></FONT><FONT SIZE=2><B>ABOUT THIS PROSPECTUS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>In this Prospectus and in any Prospectus Supplement, unless otherwise specified or the context otherwise requires, all dollar amounts are expressed in Canadian dollars,
references to "dollars" or "$" are to Canadian dollars and references to "U.S.$" are to United&nbsp;States dollars. We prepare our consolidated financial statements in accordance with Canadian
generally accepted accounting principles ("</FONT><FONT SIZE=2><B>Canadian GAAP</B></FONT><FONT SIZE=2>"), which differ from U.S.&nbsp;generally accepted accounting principles
("</FONT><FONT SIZE=2><B>U.S.&nbsp;GAAP</B></FONT><FONT SIZE=2>"). Therefore, unless otherwise indicated, our consolidated financial statements and all financial information contained in this
Prospectus, in any applicable Prospectus Supplement and in the documents incorporated by reference in this Prospectus, may not be comparable to financial statements or financial information prepared
in accordance with U.S.&nbsp;GAAP. You should refer to Note&nbsp;18 of our consolidated financial statements as at and for the year ended December&nbsp;31, 2005 for a discussion of the principal
differences between our financial results and financial condition determined under Canadian GAAP and under U.S.&nbsp;GAAP. </FONT></P>


<P><FONT SIZE=2>Except
as set forth under "Description of Debt Securities", and unless the context otherwise requires, all references in this Prospectus and any Prospectus Supplement to "Suncor", "we", "us" and "our"
mean Suncor Energy&nbsp;Inc. and its subsidiaries and joint venture investments. </FONT></P>

<P><FONT SIZE=2>The
reserve information incorporated by reference herein includes voluntary reserve information prepared in accordance with Canadian standards which differ from U.S.&nbsp;standards. </FONT></P>

<P><FONT SIZE=2>This
Prospectus is part of a registration statement on Form&nbsp;F-9 relating to the Debt Securities that we filed with the U.S.&nbsp;Securities and Exchange Commission
("</FONT><FONT SIZE=2><B>SEC</B></FONT><FONT SIZE=2>"). Under the registration statement, we may, from time to time, sell any combination of the Debt Securities described in this Prospectus in one or
more offerings up to an aggregate initial offering price of U.S.$2,000,000,000. This Prospectus provides you with a general description of the Debt Securities that we may offer. Each time we sell Debt
Securities under the </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 3 -</FONT></P>

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<P><FONT SIZE=2>registration
statement, we will provide a Prospectus Supplement that will contain specific information about the terms of that offering of Debt Securities. The Prospectus Supplement may also add,
update or change information contained in this Prospectus. Before you invest, you should read both this Prospectus and any applicable Prospectus Supplement together with additional information
described under the heading "Where You Can Find More Information". This Prospectus does not contain all of the information set forth in the registration statement, certain parts of which are omitted
in accordance with the rules and regulations of the SEC. You may refer to the registration statement and the exhibits to the registration statement for further information with respect to us and the
Debt Securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg3742_documents_incorporated_by_reference"> </A>
<A NAME="toc_bg3742_3"> </A>
<BR></FONT><FONT SIZE=2><B>DOCUMENTS INCORPORATED BY REFERENCE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>Information has been incorporated by reference in this Prospectus from documents filed with securities commissions or similar authorities in Canada and with the SEC in the
United&nbsp;States. Copies of the documents incorporated by reference may be obtained on request without charge from the Secretary of Suncor at Box&nbsp;38,
112&nbsp;-&nbsp;4th&nbsp;Avenue S.W., Calgary, Alberta, Canada T2P&nbsp;2V5, Telephone (403)&nbsp;269-8709. For the purpose of the Province of Quebec, this Prospectus
contains information to be completed by consulting the permanent information record. A copy of the permanent information record may be obtained from the Secretary of Suncor at the abovementioned
address and telephone number. These documents are also available through the internet on the System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at
<U>www.sedar.com.</U> </FONT></P>

<P><FONT SIZE=2>The
following documents of the Corporation filed with securities commissions or similar authorities in each of the provinces of Canada and the SEC are incorporated by reference into this Prospectus: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
audited consolidated financial statements as at December&nbsp;31, 2005 and December&nbsp;31, 2004 and for each of the years in the three year period ended
December&nbsp;31, 2005, including the notes thereto and the auditor's report thereon included in our Annual Report to Shareholders;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Annual Information Form dated March&nbsp;1, 2006;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Management's Discussion and Analysis for the year ended December&nbsp;31, 2005;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Management Information Circular and Proxy Statement dated March&nbsp;1, 2006 relating to the annual meeting of our shareholders held on April&nbsp;26,&nbsp;2006;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
unaudited consolidated interim financial statements for the nine month's ended September&nbsp;30, 2006 and September&nbsp;30,&nbsp;2005;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
Management's Discussion and Analysis for the nine month's ended September&nbsp;30, 2006;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>our
press release dated January&nbsp;25, 2007, relating to the financial results of Suncor for the twelve months ended December&nbsp;31,&nbsp;2006. </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2>Any
documents of the type referred to above, or required to be incorporated by reference herein under National Instrument&nbsp;44-101&nbsp;&#151;&nbsp;Short Form
Prospectus Distributions, including interim financial statements, filed by the Corporation with the securities commissions or similar authorities in the provinces of Canada subsequent to the date of
this Prospectus and prior to the termination of this offering shall be deemed to be incorporated by reference into this Prospectus. In addition, any report filed or furnished by us with the SEC
pursuant to Section&nbsp;13(a), 13(c) or&nbsp;15(d) of the Exchange Act after the date of this Prospectus shall be deemed to be incorporated by reference into this Prospectus and the registration
statement of which this Prospectus forms&nbsp;a part if and to the extent expressly provided in such&nbsp;report. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 4 -</FONT></P>

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<P><FONT SIZE=2><B>Any statement contained in this Prospectus or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for
purposes of this Prospectus to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or
supersedes such statement. The modifying or superseding statement need not state that it has modified or superseded a prior statement or include any other information set forth in the document that it
modifies or supersedes. The making of a modifying or superseding statement is not to be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a
misrepresentation, an untrue statement of a material fact or an omission to state a material fact that is required to be stated or that is necessary to make a statement not misleading in light of the
circumstances in which it was made. Any statement so modified or superseded shall not constitute a part of this Prospectus, except as so modified or&nbsp;superseded.</B></FONT></P>


<P><FONT SIZE=2>A
Prospectus Supplement containing the specific terms for an offering of Debt Securities will be delivered to purchasers of such Debt Securities together with this Prospectus and will be incorporated
by reference into this Prospectus as of the date of such Prospectus Supplement, solely for the purposes of the offering of the Debt Securities issued under such Prospectus Supplement. </FONT></P>

<P><FONT SIZE=2>Upon
a new Annual Information Form and the related annual financial statements together with the auditors' report thereon and management's discussion and analysis incorporated therein being filed by
us with, and where required, accepted by, the applicable securities regulatory authorities during the currency of this Prospectus, the previous Annual Information Form (and&nbsp;the previous annual
financial statements and management's discussion and analysis and all interim financial statements and material change reports, and information circulars filed prior to the commencement of our
financial year in which the new Annual Information Form is filed) shall be deemed no longer to be incorporated into this Prospectus for purposes of future offers and sales of Debt Securities
hereunder. </FONT></P>

<P><FONT SIZE=2>Updated
interest coverage ratios will be filed quarterly with the applicable securities regulatory authorities either as Prospectus Supplements or as exhibits to the Corporation's interim and audited
annual financial statements, and will be deemed to be incorporated by reference in this Prospectus for the purposes of the offering of the Debt Securities. </FONT></P>


<P><FONT SIZE=2>The
SEC permits oil and natural gas companies, in their filings with the SEC, to disclose only proved reserves net of royalties and interests of others that a company has demonstrated by actual
production or conclusive formation tests to be economically producible under existing economic and operating conditions. Canadian securities laws permit oil and natural gas companies, in their filings
with Canadian securities regulators, to disclose probable reserves. Probable reserves are of a higher risk and are generally believed to be less likely to be recovered than proved reserves. Certain
reserve information included in the documents incorporated by reference to describe our reserves, such as "probable" reserve information, is prohibited in filings with the SEC by
U.S.&nbsp;companies. For additional differences between Canadian and U.S.&nbsp;standards of reporting reserves, see "About this Prospectus" and "Risk
Factors&nbsp;&#151;&nbsp;Our voluntary reserve disclosure may not be comparable to the reserve estimates made by United&nbsp;States Companies subject to SEC reporting and
disclosure requirements" in this Prospectus. </FONT></P>

<P><FONT SIZE=2><B>You should rely only on the information contained in or incorporated by reference in this Prospectus or any applicable Prospectus Supplement and on the other information
included in the registration statement of which this Prospectus forms&nbsp;a part. We have not authorized anyone to provide you with different or additional information. We are not making an offer
of these Debt Securities in any jurisdiction where the offer is not permitted by law. You should not assume that the information contained in or incorporated by reference in this Prospectus or any
applicable Prospectus Supplement is accurate as of any date other than the date on the front of the applicable Prospectus Supplement.</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 5 -</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<BR></FONT><FONT SIZE=2><B>FORWARD-LOOKING INFORMATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>Certain statements contained in this Prospectus, including certain documents incorporated by reference in this Prospectus, constitute forward-looking statements within the
meaning of applicable securities laws, relating, but not limited, to our operations, anticipated financial performance, business prospects and strategies and which are based on our current
expectations, estimates, projections and assumptions and were made by us in light of our experience and our perception of historical trends. All statements that address expectations or projections
about the future, including statements about our strategy for growth, expected expenditures, commodity prices, costs, schedules and production volumes, operating or financial results, are
forward-looking statements. Some of the forward-looking statements may be
identified by words like "expects", "anticipates", "estimate", "plans", "intends", "believes", "projects", "indicates", "could", "vision", "goal", "target", "objective" and similar expressions. Our
business is subject to risks and uncertainties, some of which are similar to other oil and gas companies and some of which are unique to us. Our actual results may differ materially from those
expressed or implied by our forward-looking statements as a result of known and unknown risks, uncertainties and other&nbsp;factors. </FONT></P>

<P><FONT SIZE=2>You
are cautioned not to place undue reliance on our forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties both general
and specific that contribute to the possibility that the predicted outcomes will not occur. The risks, uncertainties and other factors, many of which are beyond our control, that could influence our
actual results include, but are not limited to: changes in the general economic, market and business conditions; fluctuations in supply and demand for our products; fluctuations in commodity prices
and currency exchange rates; our ability to respond to changing markets, and to receive timely regulatory approvals; the accuracy of cost estimates, some of which are provided at the conceptual or
other preliminary stage of projects and prior to commencement of conception of the detailed engineering needed to reduce the margin of error or level of accuracy; the integrity and reliability of our
capital assets; the cumulative impact of other resource development; future environmental laws; the accuracy of our reserve, resource and future production estimates and our success at exploration and
development drilling and related activities; the maintenance of satisfactory relationships with unions, employee associations and joint venture partners; competitive actions of other companies,
including increased competition from other oil and gas companies and from companies that provide alternative sources of energy; labour and material shortages; and other facilities uncertainties
resulting from potential delays or changes in plans with respect to projects or capital expenditures; actions by governmental authorities including the imposition of taxes or changes to fees and
royalties; changes in environmental and other regulations; the ability and willingness of parties with whom we have material relationships to perform their obligations to us; and the occurrence of
unexpected events such as fires, blowouts, freezeups, equipment failures and other similar events affecting us or other parties whose operations or assets directly or indirectly affect us; and other
factors, many of which are beyond our control. These important factors are not&nbsp;exhaustive. </FONT></P>


<P><FONT SIZE=2>Statements
relating to "reserves" and "resources" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and
resources described can be profitably produced in the&nbsp;future. </FONT></P>

<P><FONT SIZE=2><B>We caution that the foregoing list of important factors is not exhaustive. Events or circumstances could cause our actual results to differ materially from those estimated or
projected and expressed in, or implied by, these forward-looking statements. You should also carefully consider the matters discussed under "Risk Factors" or "Risk Factors Affecting Performance" in
this Prospectus, in any applicable Prospectus Supplement and in the documents incorporated herein by reference. The forward-looking statements contained in this Prospectus, any Prospectus Supplement
or any document incorporated by reference  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 6 -</FONT></P>

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<P><FONT SIZE=2><B> herein or therein are made as of the date of such document and, except as required under applicable laws, we undertake no obligation to update publicly or otherwise revise any forward-looking
information, whether as a result of new information, future events or otherwise, or the foregoing list of factors affecting this information.</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg3742_where_you_can_find_more_information"> </A>
<A NAME="toc_bg3742_5"> </A>
<BR></FONT><FONT SIZE=2><B>WHERE YOU CAN FIND MORE INFORMATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>We have filed with the SEC a registration statement on Form&nbsp;F-9 relating to the Debt Securities. This Prospectus, which constitutes a part of the
registration statement, does not contain all of the information contained in the registration statement, certain items of which are contained in the exhibits to the registration statement as permitted
by the rules and regulations of the SEC. Statements included or incorporated by reference in this Prospectus about the contents of any contract, agreement or other documents referred to are not
necessarily complete, and in each instance, you should refer to the exhibits for a more complete description of the matter involved. Each such statement is qualified in its entirety by
such&nbsp;reference. </FONT></P>

<P><FONT SIZE=2>We
file with the securities commissions or similar authorities in each of the provinces of Canada, material change, annual and quarterly reports and other information. We are subject to the
informational requirements of the U.S.&nbsp;Securities Exchange Act of 1934, as amended (the&nbsp;"Exchange Act") and, in accordance with the Exchange Act, we also file certain reports with and
furnish other information to the SEC. Under the multijurisdictional disclosure system adopted by the United&nbsp;States and Canada, these reports and other information may be prepared in accordance
with the disclosure requirements of Canada, which differ from those in the United&nbsp;States. You may read and copy any document we furnish to the SEC at the SEC's Public Reference Room at
100&nbsp;F Street, N.E., Washington,&nbsp;D.C. 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. You may read and download reports and other information we have filed electronically with the SEC by accessing the SEC's website at
<U>www.sec.gov</U>. You may read and download any public document that we have filed with the securities commission or similar authorities in each of the provinces of Canada at
<U>www.sedar.com.</U> </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg3742_enforceability_of_civil_liabilities"> </A>
<A NAME="toc_bg3742_6"> </A>
<BR></FONT><FONT SIZE=2><B>ENFORCEABILITY OF CIVIL LIABILITIES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>We are a corporation existing under the </FONT><FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT SIZE=2>. Most of our directors and officers, and most of the
experts named in this Prospectus, are residents of Canada or otherwise reside outside the United&nbsp;States. We have appointed an agent for service of process in the United&nbsp;States, but it
may be difficult for holders of Debt Securities who reside in the United&nbsp;States to effect service within the United&nbsp;States upon those directors, officers, and experts who are not
residents of the United&nbsp;States. It may also be difficult for holders of Debt Securities who reside in the United&nbsp;States to realize in the United&nbsp;States upon judgments of courts of
the United&nbsp;States predicated upon our civil liability and the civil liability of our directors, officers and experts under the United&nbsp;States federal securities laws. We have been advised
by our Canadian counsel, Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP, that a judgment of a United&nbsp;States court predicated solely upon civil liability under United Stated federal securities laws
would probably be enforceable in Canada if the United&nbsp;States court in which judgment was obtained has a basis for jurisdiction in the matter that would be recognized by a Canadian court for the
same purposes. We have also been advised by Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP, however, that there is substantial doubt whether an action could be brought in Canada in the first instance on
the basis of liability predicated solely upon United&nbsp;States federal securities&nbsp;laws. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 7 -</FONT></P>

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<P><FONT SIZE=2>We
filed with the SEC, concurrently with our registration statement on Form&nbsp;F-9, an appointment of agent for service of process on Form&nbsp;F-X. Under the
Form&nbsp;F-X, we appointed CT Corporation System as our agent for service of process in the United&nbsp;States in connection with any investigation or administrative proceeding
conducted by the SEC, and any civil suit or action brought against or involving us in a United&nbsp;States court arising out of or related to or concerning the offering of the Debt Securities under
this Prospectus. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg3742_risk_factors"> </A>
<A NAME="toc_bg3742_7"> </A>
<BR></FONT><FONT SIZE=2><B>RISK FACTORS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><I>You should consider carefully the risk factors set forth below as well as the other information contained in and incorporated by reference in this
Prospectus and in the applicable Prospectus Supplement before purchasing the Debt Securities. Additional risk factors are discussed in our Annual Information Form and in our Management's Discussion
and Analysis for the year ended December&nbsp;31, 2005, which are incorporated by reference in this Prospectus. If any event arising from these risks occurs, our business, prospects, financial
condition, results of operation or cash flows could be materially adversely affected.</I></FONT></P>

<P><FONT SIZE=2><B>Our voluntary reserve disclosure may not be comparable to the reserve estimates made by United&nbsp;States companies subject to SEC reporting and disclosure requirements  </B></FONT></P>

<P><FONT SIZE=2>In addition to our estimates of reserves reported in accordance with U.S.&nbsp;disclosure requirements, we provide further voluntary disclosure in our filings made with
Canadian securities authorities, including certain of the documents incorporated in this Prospectus. Our voluntary disclosure is materially different from the practices used to estimate reserves in
reports and other materials filed with the SEC by United&nbsp;States companies. The primary differences are summarized below: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>In
the United&nbsp;States, production and reserve volumes are reported after deducting royalties and similar payments. In our voluntary disclosure, we also report gross
production and reserve volumes, which are prior to the deduction of these&nbsp;amounts;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>In
our voluntary disclosure, we convert estimates of reserves from barrels of bitumen to barrels of synthetic crude oil for aggregation purposes;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>The
estimates of our reserves contained in our voluntary disclosure are evaluated based on annual average differential pricing assumptions. The SEC requires the use of
constant cost and pricing assumptions in filings made with the&nbsp;SEC;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>We
include in our voluntary disclosure estimates of probable reserves. The SEC prohibits the inclusion of estimates of probable reserves in filings made with the&nbsp;SEC. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>As
a consequence, our voluntary reserve disclosure may not be comparable to the reserve estimates made by United&nbsp;States companies subject to SEC reporting and disclosure requirements. </FONT></P>


<P><FONT SIZE=2><B>There can be no assurance as to the liquidity of the trading market for the Debt Securities or that a trading market for the debt securities will&nbsp;develop.  </B></FONT></P>

<P><FONT SIZE=2>There is no public market for the Debt Securities and, unless otherwise specified in the applicable Prospectus Supplement, we do not intend to apply for listing of the Debt
Securities on any securities exchanges. If the Debt Securities are traded after their initial issue, they may trade at a discount from their initial offering prices depending on prevailing interest
rates, the market for similar securities and other factors, including general economic conditions and our financial condition. There can be no assurance as to the liquidity of the trading market for
the Debt Securities or that a trading market for the Debt Securities will&nbsp;develop. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 8 -</FONT></P>

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<P><FONT SIZE=2><B>The Debt Securities will be effectively subordinated to certain indebtedness of our corporate and partnership subsidiaries.  </B></FONT></P>

<P><FONT SIZE=2>We carry on our business through corporate and partnership subsidiaries. The majority of our assets are held in one or more corporate or partnership subsidiaries. Our results
of operations and ability to service indebtedness, including the Debt Securities, are dependent upon the results of operations of these subsidiaries and the payment of funds by these subsidiaries to
us in the form of loans, dividends or otherwise. In the event of the liquidation of any corporate or partnership subsidiary, the assets of the subsidiary would be used first to repay the indebtedness
of the subsidiary, including trade payables or obligations under any guarantees, prior to being used by us to pay our indebtedness, including any Debt Securities. The Indenture pursuant to which the
Debt Securities will be issued does not limit our ability or the ability of our subsidiaries to incur additional unsecured indebtedness. </FONT></P>

<P><FONT SIZE=2><B>Credit ratings may not reflect all risks of an investment in the Debt Securities and may&nbsp;change.  </B></FONT></P>

<P><FONT SIZE=2>Credit ratings may not reflect all risks associated with an investment in the Debt Securities. Any credit ratings applied to the Debt Securities are an assessment of our
ability to pay our obligations. Consequently, real or anticipated changes in the credit ratings will generally affect the market value of the Debt Securities. The credit ratings, however, may not
reflect the potential impact of risks related to structure, market or other factors discussed herein on the value of the Debt Securities. There is no assurance that any credit rating assigned to Debt
Securities will remain in effect for any given period of time or that any rating will not be lowered or withdrawn entirely by the relevant rating&nbsp;agency. </FONT></P>

<P><FONT SIZE=2><B>Changes in interest rates may cause the value of the Debt Securities to decline.  </B></FONT></P>


<P><FONT SIZE=2>Prevailing interest rates will affect the market price or value of the Debt Securities. The market price or value of the Debt Securities may decline as prevailing interest
rates for comparable debt instruments rise, and increase as prevailing interest rates for comparable debt instruments decline. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 9 -</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de3742_suncor_energy_inc."> </A>
<A NAME="toc_de3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>SUNCOR ENERGY&nbsp;INC.    <BR>    </B></FONT></P>

<P><FONT SIZE=2>We are an integrated energy company, with corporate headquarters in Calgary, Alberta, Canada. We are strategically focused on developing one of the world's largest petroleum
resource basins&nbsp;&#151;&nbsp;Canada's Athabasca oil sands. In addition, we explore for, acquire, develop, produce and market crude oil and natural gas, transport and refine
crude oil and market petroleum and petrochemical products. Periodically, we also market third party petroleum products. We also carry on energy trading activities focused principally on buying and
selling futures contracts and other derivative instruments based on the commodities we&nbsp;produce. </FONT></P>


<P><FONT SIZE=2>We
have four principal operating businesses: </FONT></P>

<P><FONT SIZE=2>Oil
Sands, based near Fort McMurray, Alberta, recovers bitumen, primarily through oil sands mining and in-situ development, and upgrades it into refinery feedstock and diesel fuel. Bitumen
feedstock is also occasionally supplemented by third party suppliers. </FONT></P>

<P><FONT SIZE=2>Natural
Gas, based in Calgary, Alberta, explores for, acquires, develops and produces natural gas from reserves in Western Alberta and Northeastern British Columbia. The sale of Natural Gas production
provides a natural price hedge for natural gas purchased for consumption at the Oil Sands facility and refineries in Sarnia, Ontario and near Denver, Colorado. In addition, our indirectly wholly owned
U.S.&nbsp;subsidiary, Suncor Energy (Natural Gas) America&nbsp;Inc., acquires land and explores for coal bed methane in the United&nbsp;States. </FONT></P>


<P><FONT SIZE=2>Our
third business, Energy Marketing and Refining&nbsp;&#151;&nbsp;Canada, headquartered in Toronto, Ontario, refines crude oil at our refinery in Sarnia, Ontario, into a broad
range of petroleum products. These products are then marketed to industrial, wholesale and commercial customers principally in Ontario and Quebec, and to retail customers in Ontario through
Sunoco-branded and joint venture operated retail networks. We also engage in third party energy marketing and trading activities through this&nbsp;business. </FONT></P>

<P><FONT SIZE=2>Our
fourth business, Refining and Marketing&nbsp;&#151;&nbsp;U.S.A., headquartered in Denver, Colorado, refines crude oil at our refinery in Commerce City, Colorado, near
Denver, into a broad range of petroleum products, and markets these refined products to industrial, wholesale and commercial customers principally in Colorado and to retail customers in Colorado
through Phillips 66&reg;&nbsp;&#151;&nbsp;branded sites. We also transport crude oil on our wholly or partly owned pipelines in Wyoming and&nbsp;Colorado. </FONT></P>

<P><FONT SIZE=2>Suncor's
registered and principal office is located at 112&nbsp;-&nbsp;4th&nbsp;Avenue S.W., P.O.&nbsp;Box&nbsp;38, Calgary, Alberta, Canada T2P&nbsp;2V5. Our common shares are
listed for trading on the Toronto Stock Exchange and the New&nbsp;York Stock Exchange under the trading symbol&nbsp;"SU". </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de3742_use_of_proceeds"> </A>
<A NAME="toc_de3742_2"> </A>
<BR></FONT><FONT SIZE=2><B>USE OF PROCEEDS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise indicated in an applicable Prospectus Supplement, we will use the net proceeds we receive from the sale of the Debt Securities for general corporate purposes.
We may also use the net proceeds for the repayment of indebtedness. The amount of net proceeds to be used for any such purpose will be described in an applicable Prospectus Supplement. We may invest
funds that we do not immediately require in short-term marketable securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 10 -</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de3742_interest_coverage"> </A>
<A NAME="toc_de3742_3"> </A>
<BR></FONT><FONT SIZE=2><B>INTEREST COVERAGE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>The following consolidated financial ratios are calculated for the twelve month periods ended December&nbsp;31, 2005 and September&nbsp;30, 2006 and are based on audited
financial information, in the case of December&nbsp;31, 2005, and unaudited financial information in the case of September&nbsp;30, 2006. The financial ratios do not give effect to the Debt
Securities offered by this Prospectus since the aggregate principal amount of Debt Securities that will be issued under this Prospectus and the terms of issue are not presently known. The interest and
asset coverage ratios set forth below do not purport to be indicative of interest coverage ratios for any future periods. </FONT></P>

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<DIV ALIGN="CENTER"><TABLE WIDTH="65%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=2><B>September&nbsp;30, 2006</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="19%" ALIGN="CENTER"><FONT SIZE=2><B>December&nbsp;31, 2005</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Interest coverage on long-term debt:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Earnings</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>28.6&nbsp;times</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT"><FONT SIZE=2>12.5&nbsp;times</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Cash flow</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>32.9&nbsp;times</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT"><FONT SIZE=2>16.9&nbsp;times</FONT></TD>
</TR>
</TABLE></DIV>
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<P><FONT SIZE=2><B>Interest coverage on long-term debt on an earnings basis is equal to earnings before interest on long-term debt and income taxes divided by interest
expense and capitalized interest. Interest coverage on long-term debt on a cash flow basis is equal to cash flow from operations before interest expense and cash income taxes divided by
interest expense and capitalized interest. For purposes of calculating the interest coverage ratios set forth in this Prospectus, long-term debt includes the current portion of
long-term debt and does not include any amounts with respect to Debt Securities that may be issued under this Prospectus.</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de3742_description_of_debt_securities"> </A>
<A NAME="toc_de3742_4"> </A>
<BR></FONT><FONT SIZE=2><B>DESCRIPTION OF DEBT SECURITIES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>In this section only, "we", "us", "our" or "Suncor" refers only to Suncor Energy&nbsp;Inc. and not any of its subsidiaries. The following description sets forth certain
general terms and provisions of the Debt Securities. We will provide the particular terms and provisions of a series of Debt Securities and a description of how the general terms and provisions
described below may apply to that series in a Prospectus Supplement. </FONT></P>

<P><FONT SIZE=2>The
Debt Securities will be issued under an indenture to be entered into between us and The Bank of New&nbsp;York, as trustee (the&nbsp;"</FONT><FONT SIZE=2><B>Trustee</B></FONT><FONT SIZE=2>")
(hereinafter referred to as the "</FONT><FONT SIZE=2><B>Indenture</B></FONT><FONT SIZE=2>"). The Indenture will be subject to and governed by the U.S.&nbsp;Trust Indenture Act of 1939, as amended.
A copy of the form of Indenture has been filed as an exhibit to the registration statement filed with the SEC. The following is a summary of the Indenture which sets forth certain general terms and
provisions of the Debt Securities and is not intended to be complete. For a more complete description, including the definition
of capitalized terms used but not defined under this section, prospective investors should refer to the Indenture. Whenever we refer to particular provisions of the Indenture, those provisions are
qualified in their entirety by reference to the Indenture. References in parentheses are to section numbers or articles of the&nbsp;Indenture. </FONT></P>

<P><FONT SIZE=2>We
may issue securities (including debt securities) and incur additional indebtedness other than through the offering of Debt Securities under this Prospectus. </FONT></P>

<P><FONT SIZE=2><B>General  </B></FONT></P>

<P><FONT SIZE=2>The Indenture does not limit the aggregate principal amount of Debt Securities which we may issue under the Indenture and does not limit the amount of other indebtedness we may
incur. The Indenture provides that Debt Securities may be issued from time to time in one or more series and may be denominated and payable in U.S.&nbsp;dollars or any foreign currency. Special
Canadian and U.S.&nbsp;federal income tax </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 11 -</FONT></P>

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<P><FONT SIZE=2>considerations
applicable to any of the Debt Securities denominated in a foreign currency will be described in the Prospectus Supplement relating to any offering of Debt Securities denominated in a
foreign currency. Unless otherwise indicated in a Prospectus Supplement, the Debt Securities will be unsecured obligations. The Debt Securities offered pursuant to this Prospectus will be issued in an
amount up to U.S.$2.0&nbsp;billion or the equivalent foreign currency. The Indenture also permits us to increase the principal amount of any series of the Debt Securities previously issued and to
issue that increased principal amount. </FONT></P>

<P><FONT SIZE=2>The
applicable Prospectus Supplement will describe the specific terms of the Debt Securities of any series being offered and may include, but is not limited to, any of the&nbsp;following: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
title and the aggregate principal amount of the Debt Securities;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
date or dates, or the method by which such date or dates will be determined or extended, on which the principal of (and&nbsp;premium, if any, on) the Debt Securities
will be payable and
the portion (if&nbsp;less than the principal amount) to be payable upon a declaration of acceleration of&nbsp;maturity;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
rate or rates (whether fixed or variable) at which the Debt Securities will bear interest, if any, or the method by which such rate or rates will be determined and the
date or dates from which such interest will&nbsp;accrue;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
date or dates, or the method by which such date or dates will be determined or extended, on which any interest will be payable and the regular record dates for the
payment of interest on the Debt Securities in registered&nbsp;form;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
place or places where the principal of (and&nbsp;premium, if any) and interest, if any, on the Debt Securities will be payable and each office or agency where the Debt
Securities may be presented for registration of transfer or&nbsp;exchange;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>each
office or agency where the principal of (and&nbsp;premium, if any) and interest, if any, on the Debt Securities of such series will be&nbsp;payable;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
period or periods within which, the price or prices at which, the currency or currency unit in which, and other terms and conditions upon which the Debt Securities may
be redeemed or purchased, in whole or in part, by&nbsp;us;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
terms and conditions upon which you may redeem the Debt Securities prior to maturity and the price or prices at which and the currency or currency unit in which the Debt
Securities are&nbsp;payable;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
mandatory or optional redemption or sinking fund or analogous provisions;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>if
other than denominations of U.S.$1,000 and any integral multiple thereof, the denomination or denominations in which any registered securities of the series shall be
issuable and, if other than the denomination of U.S.$5,000, the denomination or denominations in which any bearer securities of the series shall be&nbsp;issuable;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>if
other than U.S.&nbsp;dollars, the currency or currency unit in which the Debt Securities are denominated or in which currency payment of the principal of
(and&nbsp;premium, if any) or interest, if any, on such Debt Securities will be&nbsp;payable;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
index formula or other method used to determine the amount of payments of principal of (and&nbsp;premium, if any) or interest, if any, on the Debt Securities; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 12 -</FONT></P>

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<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>whether
the series of the Debt Securities are to be registered securities, bearer securities (with or without coupons) or&nbsp;both;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>whether
the Debt Securities will be issuable in the form of one or more global securities and, if so, the identity of the depository for the global securities;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>whether
and under what circumstances we will be required to pay any Additional Amounts (defined below under "Additional Amounts") for withholding or deduction for Canadian
taxes with respect to the securities, and whether we will have the option to redeem the Debt Securities rather than pay the Additional Amounts;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
terms, if any, on which the Debt Securities may be converted or exchanged for other of our securities or securities of other&nbsp;entities;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>if
payment of the Debt Securities will be guaranteed by any other person;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
extent and manner, if any, in which payment on or in respect of the Debt Securities will be senior or will be subordinated to the prior payment of our other liabilities
and obligations;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
percentage or percentages of principal amount at which the Debt Securities will be&nbsp;issued;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
applicable Canadian and U.S.&nbsp;federal income tax consequences; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
other terms, conditions, rights and preferences (or&nbsp;limitations on such rights and preferences) of the Debt Securities including covenants and events of default
which apply solely to a particular series of the Debt Securities being offered which do not apply generally to other Debt Securities, or any covenants or events of default generally applicable to the
Debt Securities which do not apply to a particular series of the Debt Securities. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>Unless
otherwise indicated in a Prospectus Supplement, the Indenture does not afford holders of the Debt Securities the right to tender such Debt Securities to us for repurchase or provide for any
increase in the rate or rates of interest at which the Debt Securities will bear interest, in the event we should become involved in a highly leveraged transaction or in the event we have a change
in&nbsp;control. </FONT></P>

<P><FONT SIZE=2>The
Debt Securities may be issued under the Indenture bearing no interest or at a discount below their stated principal amount. The Canadian and U.S.&nbsp;federal income tax consequences and other
special considerations applicable to any such discounted Debt Securities or other Debt Securities offered and sold at par which are treated as having been issued at a discount for Canadian and/or
U.S.&nbsp;federal income tax purposes will be described in a Prospectus Supplement. </FONT></P>

<P><FONT SIZE=2><B>Ranking and Other Indebtedness  </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise indicated in an applicable Prospectus Supplement, the Debt Securities will be unsecured obligations and will rank equally with all of our other unsecured and
unsubordinated debt from time to time outstanding and equally with other securities issued under the Indenture. The Debt Securities will be structurally subordinated to all existing and future
liabilities, including trade payables and other indebtedness, of our subsidiaries. </FONT></P>

<P><FONT SIZE=2><B>Form, Denominations and Exchange  </B></FONT></P>

<P><FONT SIZE=2>A series of the Debt Securities may be issued solely as registered securities, solely as bearer securities or as both registered securities and bearer securities. Registered
securities will be issuable in denominations of U.S.$1,000 and any integral multiple thereof and bearer securities will be issuable in denominations of U.S.$5,000 or, in each case, in such other
denominations as may be set out in the terms of the Debt </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 13 -</FONT></P>

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<P><FONT SIZE=2>Securities
of any particular series. The Indenture will provide that a series of the Debt Securities may be issuable in global form. Unless otherwise indicated in a Prospectus Supplement, bearer
securities will have interest coupons attached. </FONT></P>

<P><FONT SIZE=2>Registered
securities of any series will be exchangeable for other registered securities of the same series and of a like aggregate principal amount and tenor of different authorized denominations.
If, but only if, provided in a Prospectus Supplement, bearer securities (with all unmatured coupons, except as provided below, and all matured coupons in default) of any series may be exchanged for
registered securities of the same series of any authorized denominations and of a like aggregate principal amount and tenor. In such event, bearer securities surrendered in a permitted exchange for
registered securities between a regular record date or a special record date and the relevant date for payment of interest shall be surrendered without the coupon relating to such date for payment of
interest, and interest will not be payable on such date for payment of interest in respect of the registered security issued in exchange for such bearer security, but will be payable only to the
holder of such coupon when due in accordance with the terms of the Indenture. Unless otherwise specified in a Prospectus Supplement, bearer securities will not be issued in exchange for registered
securities. </FONT></P>

<P><FONT SIZE=2>The
applicable Prospectus Supplement may indicate the places to register a transfer of the Debt Securities. Except for certain restrictions set forth in the Indenture, no service charge will be made
for
any registration of transfer or exchange of the Debt Securities, but we may, in certain instances, require a sum sufficient to cover any tax or other governmental charges payable in connection with
these transactions. </FONT></P>

<P><FONT SIZE=2>We
shall not be required to: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>issue,
register the transfer of or exchange any series of the Debt Securities during a period beginning at the opening of business 15&nbsp;days before any selection of
that series of the Debt Securities to be redeemed and ending at the close of business on (A)&nbsp;if the series of the Debt Securities are issuable only as registered securities, the day of mailing
of the relevant notice of redemption and (B)&nbsp;if the series of the Debt Securities are issuable as bearer securities, the day of the first publication of the relevant notice of redemption or, if
the series of the Debt Securities are also issuable as registered securities and there is no publication, the mailing of the relevant notice of&nbsp;redemption;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>register
the transfer of or exchange any registered security, or portion thereof, called for redemption, except the unredeemed portion of any registered security being
redeemed in&nbsp;part;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>exchange
any bearer security selected for redemption, except that, to the extent provided with respect to such bearer security, such bearer security may be exchanged for a
registered security of that series and like tenor, provided that such registered security shall be immediately surrendered for redemption with written instruction for payment consistent with the
provisions of the Indenture;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>issue,
register the transfer of, or exchange any of the Debt Securities which have been surrendered for repayment at the option of the holder, except the portion, if any,
thereof not to be so&nbsp;repaid. </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2><B>Global Securities  </B></FONT></P>

<P><FONT SIZE=2>A series of the Debt Securities may be issued in whole or in part in global form as a "global security" and will be registered in the name of and be deposited with a
depositary, or its nominee, each of which will be </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 14 -</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>identified
in the Prospectus Supplement relating to that series. Unless and until exchanged, in whole or in part, for the Debt Securities in definitive registered form, a global security may not be
transferred except as a whole by the depositary for such global security to a nominee of the depositary, by a nominee of the depositary to the depositary or another nominee of the depositary or by the
depositary or any such nominee to a successor of the depositary or a nominee of the&nbsp;successor. </FONT></P>

<P><FONT SIZE=2>The
specific terms of the depositary arrangement with respect to any portion of a particular series of the Debt Securities to be represented by a global security will be described in a Prospectus
Supplement relating to such series. We anticipate that the following provisions will apply to all depositary arrangements. </FONT></P>

<P><FONT SIZE=2>Upon
the issuance of a global security, the depositary therefor or its nominee will credit, on its book entry and registration system, the respective principal amounts of the Debt Securities
represented by the global security to the accounts of such persons, designated as "participants", having accounts with such depositary or its nominee. Such accounts shall be designated by the
underwriters, dealers or agents participating in the distribution of the Debt Securities or by us if such Debt Securities are offered and sold directly by us. Ownership of beneficial interests in a
global security will be limited to participants or persons that may hold beneficial interests through participants. Ownership of beneficial interests in a global security will be shown on, and the
transfer of that ownership will be effected only through, records maintained by the depositary therefor or its nominee (with respect to interests of participants) or by participants or persons that
hold through participants (with respect to interests of persons other than participants). The laws of some states in the United&nbsp;States may require that certain purchasers of securities take
physical delivery of such securities in definitive&nbsp;form. </FONT></P>

<P><FONT SIZE=2>So
long as the depositary for a global security or its nominee is the registered owner of the global security, such depositary or such nominee, as the case may be, will be considered the sole owner or
holder of the Debt Securities represented by the global security for all purposes under the Indenture. Except as provided below, owners of beneficial interests in a global security will not be
entitled to have a series of the Debt Securities represented by the global security registered in their names, will not receive or be entitled to receive physical delivery of such series of the Debt
Securities in definitive form and will not be considered the owners or holders thereof under the&nbsp;Indenture. </FONT></P>


<P><FONT SIZE=2>If
a depositary for a global security representing a particular series of the Debt Securities is at any time unwilling or unable to continue as depositary and a successor depositary is not appointed
by us within 90&nbsp;days, we will issue such series of Debt Securities in definitive form in exchange for a global security representing such series of Debt Securities. In addition, we may at any
time and in our sole discretion determine not to have a series of Debt Securities represented by a global security and, in such event, will issue a series of Debt Securities in definitive form in
exchange for all of the global securities representing the series of Debt Securities. </FONT></P>

<P><FONT SIZE=2><B>Payment  </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise indicated in a Prospectus Supplement, payment of principal of (and&nbsp;premium, if any) and interest on the Debt Securities will be made at the office or
agency of the Trustee, at 101&nbsp;Barclay Street, 4&nbsp;East, New&nbsp;York, New&nbsp;York 10286, Attn: Global Finance Americas, or at our option we can pay principal, interest and any
premium by (1)&nbsp;check mailed or delivered to the address of the person entitled as the address appearing in the security register of the Trustee or (2)&nbsp;wire transfer to an account in the
United&nbsp;States of the person entitled to receive payments if such person is a holder of U.S.$1.0&nbsp;million or more in aggregate principal amount of the Debt Securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 15 -</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>Unless
otherwise indicated in a Prospectus Supplement, payment of any interest will be made to the persons in whose name the Debt Securities are registered at the close of business on the day or days
specified by&nbsp;us. </FONT></P>

<P><FONT SIZE=2>Any
payments of principal (and&nbsp;premium, if any) and interest, if any, on global securities registered in the name of a depositary or its nominee will be made to the depositary or its nominee,
as the case may be, as the registered owner of the global security representing such Debt Securities. None of us, the Trustee or any paying agent for the Debt Securities represented by the global
securities will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of the global security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests. </FONT></P>

<P><FONT SIZE=2>We
expect that the depositary for a global security or its nominee, upon receipt of any payment of principal, premium or interest, will credit participants' accounts with payments in amounts
proportionate to their respective beneficial interests in the principal amount of the global security as
shown on the records of such depositary or its nominee. We also expect that payments by participants to owners of beneficial interests in a global security held through such participants will be
governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers registered in "street name", and will be the responsibility of such
participants. </FONT></P>

<P><FONT SIZE=2><B>Certain Definitions  </B></FONT></P>

<P><FONT SIZE=2>Set forth below is a summary of certain of the defined terms used in the Indenture. Reference is made to the Indenture for the full definition of all such&nbsp;terms. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Capital Lease Obligation</I></B></FONT><FONT SIZE=2>" means the obligation of a person, as lessee, to pay rent or other amounts to the lessor under a lease of real or personal
property which is required to be classified and accounted for as a capital lease on a consolidated balance sheet of such person in accordance with generally accepted accounting principles. </FONT></P>


<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Consolidated Net Tangible Assets</I></B></FONT><FONT SIZE=2>" means the total amount of assets of Suncor on a consolidated basis after deducting therefrom: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>all
current liabilities (excluding any current liabilities which are by their terms extendible or renewable at the option of the obligor thereon to a time more than
12&nbsp;months after the time as of which the amount thereof is being computed);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>all
goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other similar intangibles;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>appropriate
adjustments on account of minority interests of other persons holding stock of Suncor's Subsidiaries; </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>in
each case, as shown on the most recent annual audited or quarterly unaudited consolidated balance sheet of Suncor and computed in accordance with generally accepted accounting principles. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Current Assets</I></B></FONT><FONT SIZE=2>" means current assets as determined in accordance with generally accepted accounting principles. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 16 -</FONT></P>

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<P><FONT SIZE=2><A
NAME="page_dg3742_1_17"> </A> </FONT> <FONT SIZE=2>
"</FONT><FONT SIZE=2><B><I>Debt</I></B></FONT><FONT SIZE=2>" means as at the date of determination, all items of indebtedness in respect of any amounts borrowed which, in accordance with generally accepted
accounting principles, would be recorded as debt in the consolidated financial statements of any person, including: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
obligation for borrowed money;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
obligation evidenced by bonds, debentures, notes, or other similar instruments;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
Purchase Money Obligation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
Capital Lease Obligation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
payment obligation under Financial Instrument Obligations; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
guarantee of Debt of another person. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Financial Instrument Obligations</I></B></FONT><FONT SIZE=2>" means obligations arising under: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>interest
rate swap agreements, forward rate agreements, floor, cap or collar agreements, futures or options, insurance or other similar agreements or arrangements, or any
combination thereof, entered into by a person of which the subject matter is interest rates or pursuant to which the price, value or amount payable thereunder is dependent or based upon interest rates
in effect from time to time or fluctuations in interest rates occurring from time to&nbsp;time;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>currency
swap agreements, cross-currency agreements, forward agreements, floor, cap or collar agreements, futures or options, insurance or other similar agreements or
arrangements, or any combination thereof, entered into by a person of which the subject matter is currency exchange rates or pursuant to which the price, value or amount payable thereunder is
dependent or based upon currency exchange rates in effect from time to time or fluctuations in currency exchange rates occurring from time to time;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>commodity
swap or hedging agreements, floor, cap or collar agreements, commodity futures or options or other similar agreements or arrangements, or any combination thereof,
entered into by a person of which the subject matter is one or more commodities or pursuant to which the price, value or amount payable thereunder is dependent or based upon the price of one or more
commodities in effect from time to time or fluctuations in the price of one or more commodities occurring from time to&nbsp;time. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>generally accepted accounting principles</I></B></FONT><FONT SIZE=2>" means generally accepted accounting principles which Suncor reports its financial statements in and which are
in effect from time to&nbsp;time. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Lien</I></B></FONT><FONT SIZE=2>" means any security by way of an assignment, mortgage, charge, pledge, lien, encumbrance, title retention agreement or other security interest
whatsoever, but not including any security interest in respect of a lease which is not a Capital Lease Obligation and provided that such term shall not include any encumbrance that may be deemed to
arise solely as a result of entering into an agreement, not in violation of the terms of the Indenture, to sell or otherwise transfer assets or&nbsp;property. </FONT></P>


<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Property</I></B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B><I>property</I></B></FONT><FONT SIZE=2>" means all property owned by Suncor or a Restricted Subsidiary except such
property which is determined by a resolution of our board of directors delivered to the Trustee not to be property of material importance to the total business conducted by us and our Restricted
Subsidiaries. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Purchase Money Mortgage</I></B></FONT><FONT SIZE=2>" means any Lien created, issued, incurred or assumed by Suncor or a Restricted Subsidiary to secure a Purchase Money
Obligation; provided that such Lien is limited to the property </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 17 -</FONT></P>

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<P><FONT SIZE=2>(including
the rights associated therewith) acquired, constructed, installed or improved in connection with such Purchase Money Obligation. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Purchase Money Obligation</I></B></FONT><FONT SIZE=2>" means Debt of Suncor or a Restricted Subsidiary incurred or assumed to finance the purchase price, in whole or in part, of
any property or incurred to finance the cost, in whole or in part, of construction or installation of or improvements to any property; provided, however, that such Debt is incurred or assumed within
180&nbsp;days after the purchase of such property or the completion of such construction, installation or improvements, as the case may be, provided that the principal amount of such&nbsp;Debt
which is secured by the Lien does not exceed 100% of such purchase price or cost, as the case may be, and includes any extension, renewal or refunding of any such Debt provided the principal amount
thereof outstanding on the date of such extension, renewal or refunding is not increased, and provided further that any such extension, renewal or refunding does not extend to any property other than
the property in connection with which such obligation was created and improvements erected or constructed thereon. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Restricted Subsidiary</I></B></FONT><FONT SIZE=2>" means a Subsidiary of Suncor provided, however, such term shall not include any Subsidiary of Suncor if the amount of Suncor's
share of the shareholder's equity in such Subsidiary does not, at the time of determination, exceed 2% of Shareholders' Equity. </FONT></P>


<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Shareholders' Equity</I></B></FONT><FONT SIZE=2>" means the aggregate amount of shareholders' equity (including but not limited to share capital, contributed surplus and retained
earnings) of Suncor as shown on the most recent annual audited or quarterly unaudited consolidated balance sheet of Suncor and computed in accordance with generally accepted accounting principles. </FONT></P>

<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Subsidiary</I></B></FONT><FONT SIZE=2>" of any person means, at the date of determination, any corporation or other person of which Voting Shares or other interests carrying more
than 50% of the voting rights attached to all outstanding Voting Shares or other interests are owned, directly or indirectly, by or for such person or one or more Subsidiaries thereof. </FONT></P>


<P><FONT SIZE=2>"</FONT><FONT
SIZE=2><B><I>Voting Shares</I></B></FONT><FONT SIZE=2>" means shares of any class of a corporation having under all circumstances the right to vote for the election of the directors of such
corporation, provided that, for the purpose of this definition, shares which only carry the right to vote conditionally on the happening of an event shall not be considered Voting Shares whether or
not such event shall have&nbsp;happened. </FONT></P>

<P><FONT SIZE=2><B>Covenants  </B></FONT></P>

<P><FONT SIZE=2><I>Limitation on Liens  </I></FONT></P>

<P><FONT SIZE=2>The Indenture provides that so long as any of our Debt Securities are outstanding, we will not, and will not permit any of our Restricted Subsidiaries to, create, incur or
assume any Lien on or over any present or future property securing any Debt of ours or a Restricted Subsidiary without also simultaneously or prior thereto securing, or causing such Restricted
Subsidiary to secure, equally and ratably with such other Debt all of the Debt Securities then outstanding under the Indenture, except: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
existing as of the date of the Indenture;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
Purchase Money Mortgage;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
on any property in favor of any federal government or any province, state or territory thereof or any municipality therein or any political subdivision, department,
agency or instrumentality of any of them to secure the performance of any covenant or obligation to or in favor of or entered into at the request of such authorities where such security is required
pursuant to any contract, statute or regulation or with respect to any franchise, grant, license </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 18 -</FONT></P>

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<UL>
<UL>

<P><FONT SIZE=2>or
permit and any defects in title in structures or other facilities arising solely from the fact that such structures or facilities are constructed or installed on lands held by us under government
permits, leases or other&nbsp;grants; </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
on any property or any interest therein to secure all or any part of the costs incurred after the date of the Indenture for surveying, exploration, extraction,
drilling, development, construction, alteration, repair or improvement of or on such&nbsp;property;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
on any oil and/or gas property or products derived from such property to secure obligations incurred or guarantees of obligations incurred in connection with or
necessarily incidental to commitments of purchase or sale of, or the transportation, storage or distribution of, such property or the products derived from such&nbsp;property;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
existing on properties when acquired, provided that such Liens were not incurred in anticipation of such acquisition;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
existing on property of a person when such person becomes a Restricted Subsidiary, or arising thereafter pursuant to contractual commitments entered into prior to and
not in contemplation of such person becoming a Restricted Subsidiary, or is merged into or amalgamated or consolidated with us or a Restricted Subsidiary or such property is otherwise acquired by us
or a Restricted Subsidiary or when given in compliance with obligations under trust deeds and similar instruments entered into prior to their becoming Restricted Subsidiaries or being merged into or
amalgamated or consolidated with us or such property is otherwise acquired, provided such Liens do not attach to property owned by us or owned by our Restricted Subsidiaries prior to such merger,
amalgamation or consolidation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
arising under partnership agreements, oil and natural gas leases, overriding royalty agreements, net profits agreements, royalty trust agreements, master limited
partnership agreements, farm-out agreements, division orders, unitization and pooling designations, declarations, orders and agreements, development agreements, operating agreements,
production sales contracts (including security in respect of take or pay or similar obligations thereunder), area of mutual interest agreements, natural gas balancing or deferred production
agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, which in each of the foregoing cases is customary
in the oil and natural gas business, and other similar agreements which are customary in the oil and natural gas business, provided in all instances that such Lien is limited to the assets that are
the subject of the relevant agreement;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
incurred or arising by operation of law;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
incurred in connection with Debt which by its terms is non-recourse to us or any Restricted Subsidiary;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
in favor of us or any Restricted Subsidiary;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
on Current Assets to secure Debt repayable on demand or maturing within 12&nbsp;months of the date when such Debt is incurred or the date of any renewal or extension
thereof provided that such security is given at the time that the Debt is&nbsp;incurred;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
granted in the ordinary course of business in connection with Financial Instrument Obligations; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 19 -</FONT></P>

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<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
extension, renewal, alteration, refinancing, replacement, exchange or refunding (or&nbsp;successive extensions, renewals, alterations, refinancings, replacements,
exchanges or refundings) of all or part of any Lien referred to in the foregoing clauses; provided however that (A)&nbsp;such new Lien shall be limited to all or part of the property which is
secured by the Lien plus improvements on such property and (B)&nbsp;the Debt secured by the new Lien is not increased from the amount of the Debt then existing at the time of such extension,
renewal, alteration, refinancing, replacement, exchange or refunding, plus an amount necessary to pay fees and expenses, including premiums, related to such extensions;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Liens
that would otherwise be prohibited by the foregoing clauses, provided that the aggregate Debt outstanding and secured pursuant to this clause does not at the time of
granting the Lien exceed an amount equal to 10% of Consolidated Net Tangible Assets. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>Notwithstanding
the foregoing, transactions such as the sale (including any forward sale) or other transfer of (A)&nbsp;oil, gas, minerals or other resources of a primary nature, whether in place or
when
produced, for a period of time until, or in an amount such that, the purchaser will realize therefrom a specified amount of money or a specified amount of such oil, gas, minerals, or other resources
of a primary nature, or (B)&nbsp;any other interest in property of the character commonly referred to as a "production payment", will not constitute secured Debt and will not result in us being
required to secure the Debt Securities. </FONT></P>

<P><FONT SIZE=2><I>Consolidation, Amalgamation, Merger and Sale of Assets  </I></FONT></P>

<P><FONT SIZE=2>We may not consolidate or amalgamate with or merge into or enter into any statutory arrangement with any other corporation, or convey, transfer or lease all or substantially
all the properties and assets of us and our subsidiaries on a consolidated basis to any person,&nbsp;unless: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
entity formed by or continuing from such consolidation or amalgamation or into which we are merged or with which we enter into such arrangement or the person which
acquires or leases all or substantially all of our properties and assets is organized and existing under the laws of the United&nbsp;States, any state thereof or the District of Columbia, the laws
of Canada or any province or territory thereof, or, if such consolidation, amalgamation, merger, arrangement or other transaction would not impair the rights of holders of the Debt Securities, in any
other country, provided that if such successor entity is organized under the laws of a jurisdiction other than Canada or the United&nbsp;States, the successor entity assumes our obligations under
the Debt Securities and the Indenture to pay Additional Amounts, substituting the name of such successor jurisdiction for Canada in each place that Canada appears in
"&#151;&nbsp;Additional Amounts", below;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
successor entity expressly assumes or assumes by operation of law all of our obligations under the Debt Securities and under the&nbsp;Indenture;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>immediately
before and after giving effect to such transaction, no event of default, and no event which, after notice or lapse of time or both, would become an event of
default, shall have happened and be continuing;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>certain
other conditions are met. </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2>Notwithstanding
anything to the contrary, we may consolidate or amalgamate with or merge into or enter into a statutory arrangement with any direct or indirect wholly owned subsidiary and convey,
transfer or lease all or substantially all of the properties and assets of us and our subsidiaries on a consolidated basis to any direct or indirect wholly owned subsidiary without complying with the
above provisions in a </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 20 -</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>transaction
or series of transactions in which we remain the obligor on the Debt Securities (a&nbsp;"</FONT><FONT SIZE=2><B>Permitted Reorganization</B></FONT><FONT SIZE=2>") provided we have
provided the Trustee and all of our then current ratings agencies with notice of our intention to enter into a Permitted Reorganization at least 45&nbsp;days prior to the proposed date of completion
of such Permitted Reorganization (the&nbsp;"</FONT><FONT SIZE=2><B>Permitted Reorganization Date</B></FONT><FONT SIZE=2>") and provided further that on or prior to the Permitted Reorganization Date
we have delivered to the Trustee an officers' certificate confirming that, as of the Permitted Reorganization Date: (i)&nbsp;all of our Debt which ranked </FONT> <FONT SIZE=2><I>pari&nbsp;passu</I></FONT><FONT SIZE=2> with the then outstanding Debt
Securities immediately prior to the proposed Permitted Reorganization will rank no better than </FONT> <FONT SIZE=2><I>pari&nbsp;passu</I></FONT><FONT SIZE=2> with such Debt Securities after the Permitted Reorganization; for certainty, there is no
requirement for any such other Debt to obtain
or maintain similar ranking to such Debt Securities and such other Debt may be structurally subordinated or otherwise subordinated to the Debt Securities; or (ii)&nbsp;at least two of our then
current credit rating agencies (or&nbsp;if only one credit rating agency maintains ratings in respect of our debt securities at such time, that one rating agency) have affirmed that the rating
assigned by them to the Debt Securities shall not be downgraded as a result of the Permitted Reorganization, or notice&nbsp;thereof. </FONT></P>

<P><FONT SIZE=2>If,
as a result of any such transaction, any of our properties or assets or any properties or assets of any Subsidiary of Suncor becomes subject to a Lien, then, unless such Lien could be created
pursuant to the Indenture provisions described under the "</FONT><FONT SIZE=2><I>Limitation on Liens</I></FONT><FONT SIZE=2>" covenant above without equally and ratably securing the Debt Securities,
we, simultaneously with or prior to such transaction, will cause the Debt Securities to be secured equally and ratably with or prior to the Debt secured by such&nbsp;Lien. </FONT></P>

<P><FONT SIZE=2><B>Additional Amounts  </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise specified in a Prospectus Supplement, all payments made by us under or with respect to the Debt Securities will be made free and clear of and without
withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including penalties, interest and other liabilities related
thereto) imposed or levied by or on behalf of the Government of Canada or any province or territory thereof or by any authority or agency therein or thereof having power to tax
("</FONT><FONT SIZE=2><B>Canadian Taxes</B></FONT><FONT SIZE=2>"), unless we are required to withhold or deduct Canadian Taxes by law or by the interpretation or administration thereof. If we are so
required to withhold or deduct any amount for or on account of Canadian Taxes from any payment made under or
with respect to the Debt Securities, we will pay to each holder of such Debt Securities as additional interest such additional amounts ("</FONT><FONT SIZE=2><B>Additional
Amounts</B></FONT><FONT SIZE=2>") as may be necessary so that the net amount received by each such holder after such withholding or deduction (and&nbsp;after deducting any Canadian Taxes on such
Additional Amounts) will not be less than the amount such holder would have received if such Canadian Taxes had not been withheld or deducted. However, no Additional Amounts will be payable with
respect to a payment made to a Debt Securities holder (such holder, an "</FONT><FONT SIZE=2><B>Excluded Holder</B></FONT><FONT SIZE=2>") in respect of the beneficial owner&nbsp;thereof: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>with
which we do not deal at arm's length (within the meaning of the </FONT><FONT SIZE=2><I>Income Tax&nbsp;Act</I></FONT><FONT SIZE=2> (Canada)) at the time of making
such&nbsp;payment;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>which
is subject to such Canadian Taxes by reason of the holder of the Debt Securities being a resident, domicile or national of, or engaged in business or maintaining a
permanent establishment or other physical presence in or otherwise having some connection with Canada or any province or territory thereof otherwise than by the mere holding of Debt Securities or the
receipt of payments thereunder;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>which
is subject to such Canadian Taxes by reason of the holder of the Debt Securities failure to comply with any certification, identification, documentation or other
reporting </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 21 -</FONT></P>

<HR NOSHADE>
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<UL>
<UL>

<P><FONT SIZE=2>requirements
if compliance is required by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from, or a reduction in the rate of deduction or withholding
of, such Canadian&nbsp;Taxes. </FONT></P>

</UL>
</UL>

<P><FONT SIZE=2>We
will also (i)&nbsp;make such withholding or deduction; and (ii)&nbsp;remit the full amount deducted or withheld to the relevant authority in accordance with applicable&nbsp;law. </FONT></P>

<P><FONT SIZE=2>We
will furnish to the holders of the Debt Securities, within 60&nbsp;days after the date the payment of any Canadian Taxes is due pursuant to applicable law, certified copies of tax receipts or
other documents evidencing such payment by&nbsp;us. </FONT></P>

<P><FONT SIZE=2>We
will indemnify and hold harmless each holder of Debt Securities (other than an Excluded Holder) and upon written request reimburse each such holder for the amount, excluding any payment of
Additional Amounts by us,&nbsp;of: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
Canadian Taxes levied or imposed and paid by such holder as a result of payments made under or with respect to the Debt Securities;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
liability (including penalties, interest and expenses) arising therefrom or with respect thereto;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>any
Canadian Taxes imposed with respect to any reimbursement under clause&nbsp;(i) or&nbsp;(ii) of this paragraph, but excluding any such Canadian Taxes on such holder's
net&nbsp;income. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>Wherever
in the Indenture there is mentioned, in any context, the payment of principal (and&nbsp;premium, if any), interest or any other amount payable under or with respect to a debt security, such
mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. </FONT></P>


<P><FONT SIZE=2><B>Tax Redemption  </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise specified in a Prospectus Supplement, a series of Debt Securities will be subject to redemption at any time, in whole but not in part, at a redemption price
equal to the principal amount thereof together with accrued and unpaid interest to the date fixed for redemption, upon the giving of a notice as described below, if we (or&nbsp;our successor)
determine that (i)&nbsp;as a result of (A)&nbsp;any amendment to or change (including any announced prospective change) in the laws (or&nbsp;any regulations thereunder) of Canada (or&nbsp;our
successor's jurisdiction of organization) or of any political subdivision or taxing authority thereof or therein, as applicable, or (B)&nbsp;any amendment to or change in an interpretation or
application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority (including the enactment of any legislation and the publication of any judicial
decision or regulatory determination), which amendment or change is announced or becomes effective on or after the date specified in the applicable Prospectus Supplement (or&nbsp;the date a party
organized in a jurisdiction other than Canada or the United&nbsp;States becomes our successor), we have or will become obligated to pay, on the next succeeding date on which interest is due,
additional amounts with respect to any debt security of such series as described under "Additional Amounts", or (ii)&nbsp;on or after the date specified in the applicable Prospectus Supplement
(or&nbsp;the date a party organized in a jurisdiction other than Canada or the United&nbsp;States becomes our successor), any action has been taken by any taxing authority of, or any decision has
been rendered by a court of competent jurisdiction in, Canada (or&nbsp;our successor's jurisdiction of organization) or any political subdivision or taxing authority thereof or therein, including
any of those actions specified in (i)&nbsp;above, whether or not such action was taken or decision was rendered with respect to us, or any change, amendment, application or interpretation shall be
officially proposed, which, in any </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 22 -</FONT></P>

<HR NOSHADE>
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<BR>

<P><FONT SIZE=2>such
case, in the written opinion to us of legal counsel of recognized standing, will result in our becoming obligated to pay, on the next succeeding date on which interest is due, additional amounts
with respect to any debt security of such&nbsp;series. </FONT></P>

<P><FONT SIZE=2>In
the event that we elect to redeem a series of the Debt Securities pursuant to the provisions set forth in the preceding paragraph, we shall deliver to the Trustee a certificate, signed by an
authorized officer, stating that we are entitled to redeem such series of the Debt Securities pursuant to their&nbsp;terms. </FONT></P>

<P><FONT SIZE=2>Notice
of intention to redeem such series of our Debt Securities will be given not more than 60&nbsp;nor less than 30&nbsp;days prior to the date fixed for redemption and will specify the date
fixed for&nbsp;redemption. </FONT></P>

<P><FONT SIZE=2><B>Provision of Financial Information  </B></FONT></P>

<P><FONT SIZE=2>We will file with the Trustee, within 15&nbsp;days after we file them with the SEC, copies of our annual and quarterly reports and of the information, documents and other
reports (or&nbsp;copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which we are required to file with the SEC pursuant to Section&nbsp;13
or&nbsp;15(d) of the Exchange Act. Notwithstanding that we may not remain subject to the reporting requirements of Section&nbsp;13 or&nbsp;15(d) of the Exchange Act or otherwise report on an
annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by the SEC, we will continue to provide the&nbsp;Trustee: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>within
the time periods required for the filing of such forms by the SEC, annual reports on Form&nbsp;40-F or Form&nbsp;20-F, as applicable,
or&nbsp;any successor form;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>within
the time periods required for the filing of such forms by the SEC, reports on Form&nbsp;6-K (or&nbsp;any successor form), containing the information
which, regardless of applicable requirements shall, at a minimum, contain such information required to be provided in quarterly reports under the laws of Canada or any province thereof to security
holders of a corporation with securities listed on the Toronto Stock Exchange, whether or not we have any of our securities listed on such exchange. Each of such reports, to the extent permitted by
the rules and regulations of the SEC, will be prepared in accordance with Canadian disclosure requirements and generally accepted accounting principles provided, however, that we shall not be
obligated to file such reports with the SEC if the SEC does not permit such&nbsp;filings. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B>Events of Default  </B></FONT></P>

<P><FONT SIZE=2>The following are summaries of events with respect to any series of our Debt Securities which will constitute an event of default with respect to the Debt Securities of
that&nbsp;series: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>default
in the payment of any interest on any debt security of that series or additional amounts on any debt security of that series, when it becomes due and payable, and continuance
of such default for a period of 30&nbsp;days;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>default
in the payment of the principal of (or&nbsp;premium, if any, on) any debt security of that series when it becomes due and&nbsp;payable;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>default
in the performance, or breach, of any covenant or warranty in the Indenture in respect of the Debt Securities of that series, and continuance of such default or breach for a
period of 90&nbsp;days after written notice has been given to us by the Trustee or by the holders of at least 25% in principal amount of all outstanding Debt Securities of any series affected
thereby; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 23 -</FONT></P>

<HR NOSHADE>
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</UL>
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<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD><FONT SIZE=2>if
an event of default (as&nbsp;defined in any indenture or instrument under which we or any Restricted Subsidiary has at the time of the Indenture or shall thereafter have
outstanding any Debt for borrowed money) shall happen and be continuing, or we or any Restricted Subsidiary shall have failed to pay principal amounts with respect to such Debt at maturity (whether or
not constituting an event of default) and such event of default or failure to pay shall result in Debt being declared due and payable or otherwise being accelerated, in either event so that an amount
in excess of the greater of US$75,000,000 and 3.5% of our Shareholders' Equity shall be or become due and payable upon such declaration or prior to the date on which the same would otherwise have
become due and payable (the&nbsp;"</FONT><FONT SIZE=2><B>Accelerated Indebtedness</B></FONT><FONT SIZE=2>"), and such acceleration shall not be rescinded or annulled, or such event of default or
failure to pay under such indenture or instrument shall not be remedied or cured, whether by payment or otherwise, or waived by the holders of such Accelerated Indebtedness, then (a)&nbsp;if the
Accelerated Indebtedness shall be as a result of an event of default which is not related to the failure to pay principal on the conditions set out in any such indenture or instrument, it shall not be
considered an event of default for purposes of the Indenture until 30&nbsp;days after such Debt has been accelerated, or (b)&nbsp;if the Accelerated Indebtedness shall occur as a result of such
failure to pay principal or as a result of an event of default which is related to the failure to pay principal on the conditions set out in any such indenture or instrument, then (i)&nbsp;if such
Accelerated Indebtedness is, by its terms, non-recourse to the borrower, it shall not be considered an event of default for purposes of the Indenture; or (ii)&nbsp;if such Accelerated
Indebtedness is recourse to the borrower, any requirement for the giving of notice or the lapse of time or the happening of any further condition, event or act under such other indenture or instrument
in connection with such failure to pay principal or event of default shall be applicable together with an additional seven days before being considered an event of default for purposes of
the&nbsp;Indenture;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD><FONT SIZE=2>certain
events in bankruptcy, insolvency, assignment for the benefit of creditors or analogous process have occurred with respect to us;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD><FONT SIZE=2>any
other events of default provided with respect to Debt Securities of that&nbsp;series. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>If
an event of default occurs and is continuing with respect to Debt Securities of any series, unless the principal of all of the Debt Securities of that series shall have already become due and
payable, the
Trustee may, in its discretion, and shall upon request in writing made by the holders of not less than 25% in principal amount of the outstanding Debt Securities of that series, declare the principal
of (and&nbsp;premium, if any, on) all the outstanding Debt Securities of that series and the interest accrued thereon and all other money, if any, owing under the provisions of the Indenture in
respect of those Debt Securities to be due and payable immediately on&nbsp;demand. </FONT></P>

<P><FONT SIZE=2>Reference
is made to the Prospectus Supplement relating to each series of the Debt Securities which are original issue discount Debt Securities for the particular provisions relating to acceleration
of the maturity of a portion of the principal amount of such original issue discount securities upon the occurrence of any event of default and the continuation thereof. </FONT></P>

<P><FONT SIZE=2>Subject
to certain limitations set forth in the Indenture, the holders of a majority in principal amount of the outstanding Debt Securities of all series affected by an event of default shall have the
right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Debt
Securities of all series affected by such event of&nbsp;default. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 24 -</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>No
holder of a debt security of any series will have any right to institute any proceeding with respect to the Indenture, or for the appointment of a receiver or a Trustee, or for any other remedy
thereunder, unless: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>such
holder has previously given to the Trustee written notice of a continuing event of default with respect to the Debt Securities of such series affected by such event
of&nbsp;default;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
holders of at least 25% in aggregate principal amount of the outstanding Debt Securities of such series (voting as one class) affected by such event of default have made
written request, and such holder or holders have offered reasonable indemnity, to the Trustee to institute such proceeding as Trustee;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
Trustee has failed to institute such proceeding, and has not received from the holders of a majority in aggregate principal amount of the outstanding Debt Securities of
such series affected by such event of default a direction inconsistent with such request, within 60&nbsp;days after such notice, request and&nbsp;offer. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>However,
such above-mentioned limitations do not apply to a suit instituted by the holder of a debt security for the enforcement of payment of the principal of or any premium, if any, or interest on
such debt security on or after the applicable due date specified in such debt&nbsp;security. </FONT></P>

<P><FONT SIZE=2>We
will annually furnish to the Trustee a statement by certain of our officers as to whether or not Suncor, to the best of their knowledge, is in compliance with all conditions and covenants of the
Indenture and, if not, specifying all such known defaults. We will also be required under the Indenture to notify the Trustee as soon as practicable upon becoming aware of any event of&nbsp;default. </FONT></P>

<P><FONT SIZE=2><B>Defeasance  </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise specified in the applicable Prospectus Supplement, the Indenture provides that, at our option, we will be discharged from any and all obligations in respect of
the outstanding Debt Securities of any series upon irrevocable deposit with the Trustee, in trust, of money and/or government securities which will provide money in an amount sufficient in the opinion
of a nationally recognized firm of independent chartered accountants to pay the principal of and premium, if any, and each installment of interest on the outstanding Debt Securities of such series
(hereinafter referred to as a "</FONT><FONT SIZE=2><B>Defeasance</B></FONT><FONT SIZE=2>") (except with respect to the authentication, transfer, exchange or replacement of our Debt Securities or the
maintenance of a place of payment and certain other obligations set forth in the Indenture). Such trust may only be established if, among other&nbsp;things: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
have delivered to the Trustee an opinion of counsel in the United&nbsp;States stating that (a)&nbsp;Suncor has received from, or there has been published by, the
Internal Revenue Service a ruling, or (b)&nbsp;since the date of execution of the Indenture, there has been a change in the applicable U.S.&nbsp;federal income tax law, in either case to the
effect that the holders of the outstanding Debt Securities of such series will not recognize income, gain or loss for U.S.&nbsp;federal income tax purposes as a result of such Defeasance and will be
subject to U.S.&nbsp;federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Defeasance had not&nbsp;occurred;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
have delivered to the Trustee an opinion of counsel in Canada or a ruling from Canada Customs and Revenue Agency to the effect that the holders of the outstanding Debt
Securities of such series will not recognize income, gain or loss for Canadian federal or provincial income or other tax purposes as a result of such Defeasance and will be subject to Canadian federal
or provincial income and other tax on the same amounts, in the same manner and at the same times as would have been the case had such Defeasance not occurred </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 25 -</FONT></P>

<HR NOSHADE>
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<UL>
<UL>

<P><FONT SIZE=2>(and&nbsp;for
the purposes of such opinion, such Canadian counsel shall assume that holders of the outstanding Debt Securities of such series include holders who are not resident in&nbsp;Canada); </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
are not an "insolvent person" within the meaning of the </FONT><FONT SIZE=2><I>Bankruptcy and Insolvency Act</I></FONT><FONT SIZE=2> (Canada) on the date of such deposit
or at any time during the period ending on the 91st&nbsp;day following such&nbsp;deposit;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>no
event of default or event that, with the passing of time or the giving of notice, or both, shall constitute an event of default shall have occurred and be continuing on
the date of such deposit;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>other
customary conditions precedent are satisfied. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>We
may exercise our Defeasance option notwithstanding our prior exercise of our Covenant Defeasance option described in the following paragraph if we meet the conditions described in the preceding
sentence at the time we exercise the Defeasance option. </FONT></P>

<P><FONT SIZE=2>The
Indenture provides that, at our option, unless and until we have exercised our Defeasance option described in the preceding paragraph, we may omit to comply with the
"</FONT><FONT SIZE=2><I>Limitation on Liens</I></FONT><FONT SIZE=2>" and "</FONT><FONT SIZE=2><I>Consolidation, Amalgamation, Merger and Sale of Assets</I></FONT><FONT SIZE=2>" covenants and certain
other covenants and such omission shall not be deemed to be an event of default under the Indenture and its outstanding Debt Securities upon irrevocable deposit with the Trustee, in trust, of money
and/or government securities which will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent chartered accountants to pay the principal of and premium,
if any, and each installment of interest, if any, on the outstanding Debt Securities (hereinafter referred to as "</FONT><FONT SIZE=2><B>Covenant Defeasance</B></FONT><FONT SIZE=2>"). If we exercise
our Covenant Defeasance option, the obligations under the Indenture
other than with respect to such covenants and the events of default other than with respect to such covenants shall remain in full force and effect. Such trust may only be established if, among
other&nbsp;things: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
have delivered to the Trustee an opinion of counsel in the United&nbsp;States to the effect that the holders of the outstanding Debt Securities will not recognize
income, gain or loss for U.S.&nbsp;federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S.&nbsp;federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Covenant Defeasance had not&nbsp;occurred;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
have delivered to the Trustee an opinion of counsel in Canada or a ruling from Canada Customs and Revenue Agency to the effect that the holders of the outstanding Debt
Securities will not recognize income, gain or loss for Canadian federal or provincial income or other tax purposes as a result of such Covenant Defeasance and will be subject to Canadian federal or
provincial income and other tax on the same amounts, in the same manner and at the same times as would have been the case had such Covenant Defeasance not occurred (and&nbsp;for the purposes of such
opinion, such Canadian counsel shall assume that holders of our outstanding Debt Securities include holders who are not resident in&nbsp;Canada);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>we
are not an "insolvent person" within the meaning of the </FONT><FONT SIZE=2><I>Bankruptcy and Insolvency Act</I></FONT><FONT SIZE=2> (Canada) on the date of such deposit
or at any time during the period ending on the 91st&nbsp;day following such&nbsp;deposit;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>no
event of default or event that, with the passing of time or the giving of notice, or both, shall constitute an event of default shall have occurred and be continuing on
the date of such deposit;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>other
customary conditions precedent are satisfied. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 26 -</FONT></P>

<HR NOSHADE>
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<A NAME="page_di3742_1_27"> </A>
<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2><B>Modification and Waiver  </B></FONT></P>

<P><FONT SIZE=2>Modifications and amendments of the Indenture may be made by us and the Trustee with the consent of the holders of a majority in principal amount of the outstanding Debt
Securities of each series issued under the Indenture affected by such modification or amendment (voting as one class); provided, however, that no such modification or amendment may, without the
consent of the holder of each outstanding debt security of such affected series: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>change
the stated maturity of the principal of, or any installment of interest, if any, on any debt&nbsp;security;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>reduce
the principal amount of, or the premium, if any, or interest rate, if any, on any debt&nbsp;security;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>change
the place of payment;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>change
the currency or currency unit of payment of principal of (or&nbsp;premium, if any) or interest, if any, on any debt&nbsp;security;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>impair
the right to institute suit for the enforcement of any payment on or with respect to any debt&nbsp;security;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>reduce
the percentage of principal amount of outstanding Debt Securities of such series, the consent of the holders of which is required for modification or amendment of the
applicable Indenture or for waiver of compliance with certain provisions of the Indenture or for waiver of certain defaults;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>modify
any provisions of the Indenture relating to the modification and amendment of the Indenture or the waiver of past defaults or covenants except as otherwise specified
in the&nbsp;Indenture. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>The
holders of a majority in principal amount of the outstanding Debt Securities of any series may on behalf of the holders of all Debt Securities of that series waive, insofar as that series is
concerned, compliance by us with certain restrictive provisions of the Indenture. The holders of a majority in principal amount of outstanding Debt Securities of any series may waive any past default
under the Indenture with respect to that series, except a default in the payment of the principal of (or&nbsp;premium, if any) and interest, if any, on any debt security of that series or in respect
of a provision which under the Indenture cannot be modified or amended without the consent of the holder of each outstanding debt security of that series. The Indenture or the Debt Securities may be
amended or supplemented, without the consent of any holder of such Debt Securities, in order to, among other things, cure any ambiguity or inconsistency or to make any change that, in each case, does
not adversely affect the rights of any holder of such Debt Securities. </FONT></P>

<P><FONT SIZE=2><B>Resignation of Trustee  </B></FONT></P>

<P><FONT SIZE=2>The Trustee may resign or be removed with respect to one or more series of the Debt Securities and a successor Trustee may be appointed to act with respect to such series. In
the event that two or more persons are acting as Trustee with respect to different series of Debt Securities, each such Trustee shall be a Trustee of a trust under the Indenture separate and apart
from the trust administered by any other such Trustee, and any action described herein to be taken by the "Trustee" may then be taken by each such Trustee with respect to, and only with respect to,
the one or more series of Debt Securities for which it is&nbsp;Trustee. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 27 -</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2><B>Consent to Jurisdiction and Service  </B></FONT></P>

<P><FONT SIZE=2>Under the Indenture, we irrevocably appoint CT Corporation System, 111 8th&nbsp;Avenue, 13th&nbsp;Floor, New&nbsp;York, New&nbsp;York 10011, as our authorized agent for
service of process in any suit or proceeding arising out of or relating to the Debt Securities or the Indenture and for actions brought under federal or state securities laws in any federal or state
court located in the Borough of Manhattan in The City of New&nbsp;York, and we irrevocably submit to the non-exclusive jurisdiction of such&nbsp;courts. </FONT></P>

<P><FONT SIZE=2><B>Governing Law  </B></FONT></P>

<P><FONT SIZE=2>Our Debt Securities and the Indenture will be governed by and construed in accordance with the laws of the State of New&nbsp;York. </FONT></P>

<P><FONT SIZE=2><B>Enforceability of Judgments  </B></FONT></P>

<P><FONT SIZE=2>Since a significant portion of all of our assets, as well as the assets of a number of our directors and officers, are outside the United&nbsp;States, any judgment obtained
in the United&nbsp;States against us or certain of our directors or officers, including judgments with respect to the payment of principal on any Debt Securities, may not be collectible within the
United&nbsp;States. </FONT></P>

<P><FONT SIZE=2>We
have been informed by Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP that the laws of the Province of Alberta and the federal laws of Canada applicable therein permit an action to be brought in a court
of competent jurisdiction in the Province of Alberta on any final and conclusive judgment in personam of any federal or state court located in the State of New&nbsp;York (hereinafter referred to as
a "</FONT><FONT SIZE=2><B>New&nbsp;York Court</B></FONT><FONT SIZE=2>") against us, which judgment is subsisting and unsatisfied for a sum certain with respect to the enforceability of the
Indenture and our Debt Securities that is not impeachable as void or voidable under the internal laws of the State of New&nbsp;York&nbsp;if: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
New&nbsp;York Court rendering such judgment had jurisdiction over the judgment debtor, as recognized by the courts of the Province of Alberta or the federal courts of
Canada (and&nbsp;submission by us in the Indenture to the jurisdiction of the New&nbsp;York Court will be sufficient for that purpose with respect to our Debt Securities);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>such
judgment was not obtained by fraud or in a manner contrary to natural justice and the enforcement thereof would not be inconsistent with public policy, as such terms
are understood under the laws of the Province of Alberta, the federal laws of Canada or contrary to any order made by the Attorney General of Canada under the </FONT><FONT SIZE=2><I>Foreign
Extraterritorial Measures Act</I></FONT><FONT SIZE=2> (Canada) or by the Competition Tribunal under the </FONT><FONT SIZE=2><I>Competition Act</I></FONT><FONT SIZE=2>&nbsp;(Canada);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
enforcement of such judgment would not be contrary to the laws of general application limiting the enforcement of creditors' rights including bankruptcy, reorganization,
winding up, moratorium and similar laws and does not constitute, directly or indirectly, the enforcement of foreign revenue, expropriatory or penal laws in the Province of Alberta or any applicable
federal laws in&nbsp;Canada;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>no
new admissible evidence relevant to the action is discovered prior to the rendering of judgment by the court in the Province of Alberta or a federal court
of&nbsp;Canada;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>interest
payable on our Debt Securities is not characterized by a court in the Province of Alberta as interest payable at a criminal rate within the meaning of
section&nbsp;347 of the </FONT><FONT SIZE=2><I>Criminal Code</I></FONT><FONT SIZE=2> (Canada);&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
action to enforce such judgment is commenced within the appropriate limitation period </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 28 -</FONT></P>

<HR NOSHADE>
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<A NAME="page_di3742_1_29"> </A>
<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>except
that any court in the Province of Alberta or federal court of Canada may only give judgment in Canadian dollars. </FONT></P>

<P><FONT SIZE=2>We
have been advised by such counsel that there is doubt as to the enforceability in Canada in original actions, or in motions to enforce judgments of U.S.&nbsp;courts, of civil liabilities
predicated solely upon U.S.&nbsp;federal securities&nbsp;laws. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di3742_plan_of_distribution"> </A>
<A NAME="toc_di3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>PLAN OF DISTRIBUTION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>We may sell Debt Securities to or through underwriters or dealers and may also sell Debt Securities directly to purchasers or through&nbsp;agents. </FONT></P>

<P><FONT SIZE=2>The
applicable Prospectus Supplement will also set forth the terms of the offering relating to the particular Debt Securities, including to the extent applicable, the name or names of any underwriters
or agents, the initial public offering price (in&nbsp;the event the offering is a fixed price distribution), our proceeds from the offering, the underwriting discounts or commissions, and any other
discounts, commissions or concessions to be allowed or reallowed to dealers. Any initial public offering price and any underwriting discounts, commissions or concessions allowed or reallowed or paid
to dealers may be changed from time to&nbsp;time. </FONT></P>

<P><FONT SIZE=2>The
distribution of Debt Securities may be effected from time to time in one or more transactions at a fixed price or non-fixed prices, which may be changed, at market prices prevailing at
the time of sale, or at prices related to such prevailing market prices to be negotiated with purchasers. </FONT></P>

<P><FONT SIZE=2>In
connection with the sale of Debt Securities, underwriters may receive compensation from us or from purchasers of Debt Securities for whom they may act as agents in the form of discounts,
concessions or commissions. Underwriters, dealers and agents that participate in the distribution of Debt Securities may be deemed to be underwriters and any commissions received by them from us and
any profit on the resale of Debt Securities by them may be deemed to be underwriting discounts and commissions under the U.S.&nbsp;</FONT><FONT SIZE=2><I>Securities Act of
1933</I></FONT><FONT SIZE=2> (the&nbsp;"</FONT><FONT SIZE=2><B>Securities Act</B></FONT><FONT SIZE=2>"). Any such underwriter or agent will be identified, and any such compensation will be
described in the applicable Prospectus Supplement. </FONT></P>

<P><FONT SIZE=2>If
so indicated in the applicable Prospectus Supplement, we may authorize dealers or other persons acting as our agents to solicit offers by certain institutions to purchase the Debt Securities
directly from us pursuant to contracts providing for payment and delivery on a future date. These contracts will be subject only to the conditions set forth in the applicable Prospectus Supplement(s),
which will also set forth the commission payable for solicitation of these contracts. </FONT></P>

<P><FONT SIZE=2>Under
agreements which may be entered into by us, underwriters, dealers and agents who participate in the distribution of Debt Securities may be entitled to indemnification by us against certain
liabilities, including liabilities under the Securities Act and Canadian provincial securities legislation, or to contributions with respect to payments which such underwriters, dealers or agents may
be required to make in respect thereof. The underwriters, dealers and agents with whom we enter into agreements
may be customers of, engage in transactions with or perform services for us in the ordinary course of&nbsp;business. </FONT></P>

<P><FONT SIZE=2>In
connection with any offering of Debt Securities, the underwriters, dealers or agents may over allot or effect transactions intended to fix or stabilize the market price of such Debt Securities at a
level above that which might otherwise prevail in the open market. Transactions may be begun or interrupted at any time during the distribution. Each series of Debt Securities will be a new issue of
Debt Securities with no established trading market. Unless otherwise specified in a Prospectus Supplement relating to a series of Debt Securities, the Debt Securities will not be listed on any
securities exchange or on any automated dealer quotation system. Certain broker-dealers may make a market in the Debt Securities, but will not be </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 29 -</FONT></P>

<HR NOSHADE>
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<BR>

<P><FONT SIZE=2>obligated
to do so and may discontinue any market making at any time without notice. We cannot assure you that any broker-dealer will make a market in the Debt Securities of any series or as to the
liquidity of the trading market, if any, for the Debt Securities of any series, whether or not the Debt Securities of any series are listed on a securities exchange. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di3742_certain_income_tax_consequences"> </A>
<A NAME="toc_di3742_2"> </A>
<BR></FONT><FONT SIZE=2><B>CERTAIN INCOME TAX CONSEQUENCES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>The applicable Prospectus Supplement will describe certain Canadian federal income tax consequences to an investor who is a non-resident of Canada of acquiring any
Debt Securities offered thereunder, including whether the payments of principal of, premium, if any, and interest on the Debt Securities will be subject to Canadian non-resident
withholding&nbsp;tax. </FONT></P>

<P><FONT SIZE=2>The
applicable Prospectus Supplement will also describe certain United&nbsp;States federal income tax consequences of the acquisition, ownership and disposition of any Debt Securities offered under
this Prospectus by an initial investor who is a United&nbsp;States person (within the meaning of the United&nbsp;States Internal Revenue Code), including, to the extent applicable, any such
consequences relating to Debt Securities payable in a currency other than the United&nbsp;States dollar, issued at an original issue discount for United&nbsp;States federal income tax purposes or
containing early redemption provisions or other special&nbsp;items. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di3742_legal_matters"> </A>
<A NAME="toc_di3742_3"> </A>
<BR></FONT><FONT SIZE=2><B>LEGAL MATTERS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>Unless otherwise specified in the applicable Prospectus Supplement, certain legal matters relating to Canadian law in connection with the issuance of the Debt Securities will
be passed upon for us by Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP, Calgary, Alberta, Canada. Certain legal matters relating to United&nbsp;States law in connection with the issuance of the Debt
Securities will be passed upon for us by Shearman&nbsp;&amp; Sterling&nbsp;LLP, Toronto, Ontario, Canada. Certain legal matters in connection with the issuance of Debt Securities relating to
United&nbsp;States law will be passed upon for the underwriters by Paul, Weiss, Rifkind, Wharton&nbsp;&amp; Garrison, New&nbsp;York, New&nbsp;York. </FONT></P>


<P><FONT SIZE=2>As
of the date of this Prospectus, the partners and associates of Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP, as a group, beneficially own, directly or indirectly, less than 1% of any class of our
outstanding securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di3742_interest_of_experts"> </A>
<A NAME="toc_di3742_4"> </A>
<BR></FONT><FONT SIZE=2><B>INTEREST OF EXPERTS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>The consolidated balance sheets of the Corporation as at December&nbsp;31, 2005 and 2004 and the consolidated statements of earnings, cash flows and changes in shareholders'
equity for each of the years in the three year period ended December&nbsp;31, 2005 incorporated by reference in this Prospectus have been audited by PricewaterhouseCoopers&nbsp;LLP, independent
chartered accountants, as indicated in their report dated March&nbsp;1, 2006 and are incorporated herein in reliance upon the authority of said firm as experts in auditing and accounting in giving
said&nbsp;report. </FONT></P>

<P><FONT SIZE=2>Certain
information relating to our reserves in our Annual Information Form incorporated by reference in this Prospectus has, in the case of all reserves, been calculated by our engineers and audited
and opined on at December&nbsp;31, 2005 by GLJ Petroleum Consultants&nbsp;Ltd. ("</FONT><FONT SIZE=2><B>GLJ</B></FONT><FONT SIZE=2>"), independent petroleum consultants retained by us has been
compiled by us based on reports dated February&nbsp;21, 2006 and February&nbsp;24, 2006, prepared by GLJ and have been so incorporated in reliance on the opinion and report, respectively, of GLJ,
given upon the authority of said firm as experts in evaluating petroleum reserves. As of the date of this Prospectus, the partners of GLJ as a group beneficially own, directly or indirectly, less than
1% of our&nbsp;securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>- 30 -</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di3742_documents_filed_as_part_of_the_registration_statement"> </A>
<A NAME="toc_di3742_5"> </A>
<BR></FONT><FONT SIZE=2><B>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT    <BR>    </B></FONT></P>

<P><FONT SIZE=2>The following documents have been filed with the SEC as part of the registration statement of which this Prospectus is a&nbsp;part: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
documents listed in the second paragraph under "Documents Incorporated by Reference" in this Prospectus;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
consent of our accountants PricewaterhouseCoopers&nbsp;LLP;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
consent of our counsel Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
consent of our independent petroleum consultant GLJ Petroleum Consultants&nbsp;Ltd.;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>powers
of attorney from directors and officers of Suncor Energy&nbsp;Inc.;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
form of indenture relating to the Debt Securities; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>statement
of eligibility of the trustee on Form&nbsp;T-1. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>- 31 -</FONT></P>

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<UL>
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NAME="page_je3742_1_1"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="je3742_part_ii_information_not_requir__par03037"> </A>
<A NAME="toc_je3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II<BR>  <BR>    INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>INDEMNIFICATION  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;124 of the </FONT><FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT SIZE=2> provides as follows: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124.(1)&nbsp;&nbsp;Indemnification.
A corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or another individual who acts
or acted at the corporation's request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to
settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved
because of that association with the corporation or other&nbsp;entity. </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Advance
of costs. A corporation may advance moneys to a director, officer or other individual for the costs, charges and expenses of a proceeding referred to in subsection&nbsp;(1).
The individual shall repay the moneys if the individual does not fulfil the conditions of subsection&nbsp;(3).
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD><FONT SIZE=2>Limitation.
A corporation may not indemnify an individual under subsection&nbsp;(1) unless the&nbsp;individual
<BR><BR></FONT>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>acted
honestly and in good faith with a view to the best interests of the corporation, or, as the case may be, to the best interests of the other entity for which the individual acted
as director or officer or in a similar capacity at the corporation's request;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>in
the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the individual had reasonable grounds for believing that the individual's
conduct was&nbsp;lawful.
<BR><BR></FONT></DD></DL>
</DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD><FONT SIZE=2>Indemnification
in derivative actions. A corporation may with the approval of a court, indemnify an individual referred to in subsection&nbsp;(1), or advance moneys under
subsection&nbsp;(2), in respect of an action by or on behalf of the corporation or other entity to procure a judgment in its favour, to which the individual is made a party because of the
individual's association with the corporation or other entity as described in subsection&nbsp;(1) against all costs, charges and expenses reasonably incurred by the individual in connection with
such action, if the individual fulfils the conditions set out in subsection&nbsp;(3).
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD><FONT SIZE=2>Right
to indemnity. Despite subsection&nbsp;(1), an individual referred to in that subsection is entitled to indemnity from the corporation in respect of all costs, charges and
expenses reasonably incurred by the individual in connection with the defence of any civil, criminal, administrative, investigative or other proceeding to which the individual is subject because of
the individual's association with the corporation or other entity as described in subsection&nbsp;(1), if the individual seeking indemnity
<BR><BR></FONT>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>was
not judged by the court or other competent authority to have committed any fault or omitted to do anything that the individual ought to have done;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>fulfils
the conditions set out in subsection&nbsp;(3).
<BR><BR></FONT></DD></DL>
</DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(6)</FONT></DT><DD><FONT SIZE=2>Insurance.
A corporation may purchase and maintain insurance for the benefit of an individual referred to in subsection&nbsp;(1) against any liability incurred by
the&nbsp;individual
<BR><BR></FONT>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>in
the individual's capacity as a director or officer of the corporation; or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>in
the individual's capacity as a director or officer, or similar capacity, of another entity, if the individual acts or acted in that capacity at the corporation's request. </FONT></DD></DL>
</DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>II-1</FONT></P>

<HR NOSHADE>
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<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(7)</FONT></DT><DD><FONT SIZE=2>Application
to court. A corporation, an individual or an entity referred to in subsection&nbsp;(1) may apply to a court for an order approving an indemnity under this section and
the court may so order and make any further order that it sees&nbsp;fit.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(8)</FONT></DT><DD><FONT SIZE=2>Notice
to Director. An applicant under subsection&nbsp;(7) shall give the Director notice of the application and the Director is entitled to appear and be heard in person or
by&nbsp;counsel.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(9)</FONT></DT><DD><FONT SIZE=2>Other
notice. On an application under subsection&nbsp;(7) the court may order notice to be given to any interested person and the person is entitled to appear and be heard in person
or by&nbsp;counsel. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4
of the Registrant's By-Law provides as follows: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>Indemnity&nbsp;&#151;&nbsp;Subject
to the limitations contained in the </FONT><FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT SIZE=2>, the
Registrant shall indemnify a director or officer of the Registrant, a former director or officer of the Registrant, or a person who acts or acted at the Registrant's request as a director or officer
of a body corporate of which the Registrant is or was a shareholder or creditor, and his heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an
action or satisfy a judgment, reasonably incurred by him in respect of any civil, criminal or administrative action or proceeding to which he is made a party by reason of being or having been a
director or officer of the Registrant or such body corporate,&nbsp;if
<BR><BR></FONT>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>he
acted honestly and in good faith with a view to the best interests of the Registrant;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>in
the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he had reasonable grounds for believing that his conduct
was&nbsp;lawful. </FONT></DD></DL>
</DD></DL>
</UL>
<UL>
<UL>

<P><FONT SIZE=2>The
Registrant shall indemnify any person referred to above who has been substantially successful in the defence of any civil, criminal or administrative action or proceeding to which he is made a
party by reason of being or having been a director or officer of the Registrant or body corporate, against all costs, charges and expenses reasonably incurred by him in respect of such action
or&nbsp;proceeding. </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>Insurance&nbsp;&#151;&nbsp;The
Registrant may purchase and maintain insurance for the benefit of any person referred to in clause&nbsp;4(a) hereof against
such liability as the board of directors may from time to time determine and as permitted by the </FONT><FONT SIZE=2><I>Canada Business Corporations&nbsp;Act</I></FONT><FONT SIZE=2>. </FONT></DD></DL>
</UL>
<UL>
<UL>

<P><FONT SIZE=2>The
Registrant carries directors' and officers' liability insurance covering any actual or alleged error or misstatement, misleading statement or act or omission, or neglect or breach of duty of the
directors and officers of the Registrant. The policy has a covering limit of Cdn.$150&nbsp;million for the directors and officers of the Registrant. The policies are subject to certain exclusions,
and provide for a corporate deductible in circumstances where the Registrant is permitted by law to indemnify individual directors or officers. If the Registrant is unable by law to indemnify
individual directors and officers, there is no&nbsp;deductible. </FONT></P>

<P><FONT SIZE=2>Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
the Registrant has been informed that in the opinion of the U.S.&nbsp;Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and
is therefore unenforceable. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>II-2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_je3742_1_3"> </A>
<UL>
<UL>
<BR>
</UL>
</UL>

<P><FONT SIZE=2><B>EXHIBITS  </B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="10%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibit<BR>
Number</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="88%" ALIGN="LEFT"><FONT SIZE=1><B>Description<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>Audited consolidated financial statements as at December&nbsp;31, 2005 and December&nbsp;31, 2004 and for each of the years in the three year period ended December&nbsp;31, 2005, including the notes thereto and the
auditors' report thereon (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10,&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Annual Information Form dated March&nbsp;1, 2006 (incorporated by reference from the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10,&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Management's Discussion and Analysis for the year ended December&nbsp;31, 2005 (incorporated by reference from Exhibit No.&nbsp;99.2 to&nbsp;the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10,&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.4</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Management Proxy Circular dated March&nbsp;1, 2006 (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;6-K, filed with the Commission on March&nbsp;10,&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Unaudited consolidated interim financial statements for the nine months ended September&nbsp;30, 2006 and September&nbsp;30, 2005 (incorporated by reference from Exhibit No.&nbsp;99.3 to&nbsp;the Registrant's Form&nbsp;6-K filed with the Commission
on October&nbsp;26,&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.6</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Interim Management's Discussion and Analysis for the nine months ended September&nbsp;30, 2006 (incorporated by reference from Exhibit No.&nbsp;99.2 to&nbsp;the Registrant's Form&nbsp;6-K filed with the Commission on October&nbsp;26,
&nbsp;2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
4.7</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Press release dated January&nbsp;25, 2007 relating to the financial results of the Registrant for the twelve months ended December&nbsp;31, 2006 (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;6-K filed with
the Commission on January&nbsp;25,&nbsp;2007).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
5.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of PricewaterhouseCoopers&nbsp;LLP.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
5.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
5.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of GLJ Petroleum Consultants&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
6.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Powers of attorney (included on page&nbsp;III-3 of the Registration Statement).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
7.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Form of Indenture between the Registrant and The Bank of New&nbsp;York, as Trustee, relating to securities to which this Registration Statement relates.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2><BR>
7.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Statement of Eligibility under the Trust Indenture Act of 1939 on Form&nbsp;T-1 of The Bank of New&nbsp;York.</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>II-3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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NAME="page_jg3742_1_1"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jg3742_part_iii_undertaking_an__jg302270"> </A>
<A NAME="toc_jg3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART III<BR>  <BR>    UNDERTAKING AND CONSENT TO SERVICE OF PROCESS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>Item&nbsp;1.&nbsp;&nbsp;Undertaking  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant undertakes to make available, in person or by telephone, representatives to respond to inquires made by the Commission staff, and to furnish
promptly, when requested to do so by the Commission staff, information relating to the securities registered pursuant to Form&nbsp;F-9 or&nbsp;to transactions in said securities. </FONT></P>

<P><FONT SIZE=2><B>Item&nbsp;2.&nbsp;&nbsp;Consent to Service of Process  </B></FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>Concurrently
with the filing of this Registration Statement on Form&nbsp;F-9, the Registrant is filing with the Commission a written irrevocable consent and power of
attorney on Form&nbsp;F-X.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>Any
change to the name or address of the agent for service of the Registrant shall be communicated promptly to the Commission by amendment to Form&nbsp;F-X referencing
the file number of the relevant registration statement. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>III-1</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_jg3742_1_2"> </A>
<UL>
<UL>
</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jg3742_signatures"> </A>
<A NAME="toc_jg3742_2"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;F-9 and&nbsp;has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of
Calgary, Province of Alberta, Canada, on this 20<SUP>th</SUP>&nbsp;day of February,&nbsp;2007. </FONT></P>

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<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=5><FONT SIZE=2>SUNCOR ENERGY&nbsp;INC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>BART W. DEMOSKY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="34%"><FONT SIZE=2>Bart W. Demosky</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="34%"><FONT SIZE=2>Vice President and Treasurer</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>III-2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_jg3742_1_3"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jg3742_powers_of_attorney"> </A>
<A NAME="toc_jg3742_3"> </A>
<BR></FONT><FONT SIZE=2><B>POWERS OF ATTORNEY    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints each of Terrence J. Hopwood and Janice B. Odegaard, his or her true and lawful
attorney-in-fact and agent, each acting alone, with full power of substitution and resubstitution, for him or her in his or her name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments) and supplements to this Registration Statement, and to file the same, with all exhibits hereto, and other
documents in connection therewith, with the U.S.&nbsp;Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full power and
authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as they might or could do themselves, hereby ratifying and confirming
all that said attorneys-in-fact and agents or any of them acting alone, or his or her or their substitute or substitutes, may lawfully do or cause to be done by
virtue&nbsp;hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated: </FONT></P>

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<TH WIDTH="37%" ALIGN="CENTER"><FONT SIZE=1><B>Signature</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="36%" ALIGN="CENTER"><FONT SIZE=1><B>Title</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER"><FONT SIZE=1><B>Date</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="37%" ALIGN="CENTER" VALIGN="TOP"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><FONT SIZE=2>/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>J. KENNETH ALLEY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> J. Kenneth Alley</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2>Senior Vice President and Chief Financial Officer (Principal Financial Officer)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2>February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>MEL E. BENSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Mel E. Benson</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>BRIAN A. CANFIELD</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Brian A. Canfield</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>BRYAN P. DAVIES</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Bryan P. Davies</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>BRIAN A. FELESKY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Brian A. Felesky</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JOHN T. FERGUSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> John T. Ferguson</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>W. DOUGLAS FORD</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> W. Douglas Ford</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>RICHARD L. GEORGE</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Richard L. George</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
President, Chief Executive Officer and Director<BR>
(Principal Executive Officer and<BR>
Principal Accounting Officer)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="37%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="36%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>

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<BR>
<P ALIGN="CENTER"><FONT SIZE=2>III-3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JOHN R. HUFF</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> John R. Huff</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>M. ANN MCCAIG</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> M. Ann McCaig</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>MICHAEL W. O'BRIEN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Michael W. O'Brien</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JR SHAW</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> JR Shaw</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Chairman of the Board<BR>
of Directors</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" ALIGN="CENTER"><BR><FONT SIZE=2> /s/&nbsp;&nbsp;</FONT><FONT SIZE=2>EIRA M. THOMAS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Eira M. Thomas</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="CENTER"><FONT SIZE=2><BR>
February&nbsp;20, 2007</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>III-4</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=40,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="1",CHK=133825,FOLIO='4',FILE='DISK125:[07ZAC2.07ZAC3742]JG3742A.;6',USER='STOTHA',CD='20-FEB-2007;14:19' -->
<A NAME="page_jg3742_1_5"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jg3742_authorized_representative"> </A>
<A NAME="toc_jg3742_4"> </A>
<BR></FONT><FONT SIZE=2><B>AUTHORIZED REPRESENTATIVE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section&nbsp;6(a) of the Securities Act of 1933, the Authorized Representative has signed this Registration Statement, solely in
his capacity as the duly authorized representative of Suncor Energy&nbsp;Inc. in the United&nbsp;States, on this 20<SUP>th</SUP>&nbsp;day of February,&nbsp;2007. </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=5><FONT SIZE=2>SUNCOR ENERGY (U.S.A.)&nbsp;INC.<BR>
Authorized representative in the United&nbsp;States</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>BART W. DEMOSKY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="34%"><FONT SIZE=2>Bart W. Demosky</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="46%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="34%"><FONT SIZE=2>Treasurer</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>III-5</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ji3742_exhibits"> </A>
<A NAME="toc_ji3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBITS    <BR>    </B></FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="10%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibit<BR>
Number</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="88%" ALIGN="LEFT"><FONT SIZE=1><B>Description<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=2>4.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>Audited consolidated financial statements as at December&nbsp;31, 2005 and December&nbsp;31, 2004 and for each of the years in the three year period ended December&nbsp;31, 2005, including the notes thereto and the
auditors' report thereon (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Annual Information Form dated March&nbsp;1, 2006 (incorporated by reference from the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Management's Discussion and Analysis for the year ended December&nbsp;31, 2005 (incorporated by reference from Exhibit No.&nbsp;99.2 to&nbsp;the Registrant's Form&nbsp;40-F, filed with the Commission on March&nbsp;10, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.4</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Management Proxy Circular dated March&nbsp;1, 2006 (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;6-K, filed with the Commission on March&nbsp;10, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.5</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Unaudited consolidated interim financial statements for the nine months ended September&nbsp;30, 2006 and September&nbsp;30, 2005 (incorporated by reference from Exhibit No.&nbsp;99.3 to&nbsp;the Registrant's Form&nbsp;6-K filed with the Commission
on October&nbsp;26, 2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.6</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Interim Management's Discussion and Analysis for the nine months ended September&nbsp;30, 2006 (incorporated by reference from Exhibit No.&nbsp;99.2 to&nbsp;the Registrant's Form&nbsp;6-K filed with the Commission on October&nbsp;26,
2006).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 4.7</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Press release dated January&nbsp;25, 2007 relating to the financial results of the Registrant for the twelve months ended December&nbsp;31, 2006 (incorporated by reference from Exhibit No.&nbsp;99.1 to&nbsp;the Registrant's Form&nbsp;6-K filed with
the Commission on January&nbsp;25, 2007).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 5.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 5.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of PricewaterhouseCoopers&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 5.3</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Consent of GLJung Petroleum Consultants&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 6.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Powers of attorney (included on page&nbsp;III-3 of the Registration Statement).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 7.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Form of Indenture between the Registrant and The Bank of New&nbsp;York, as Trustee, relating to securities to which this Registration Statement relates.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=2> 7.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2><BR>
Statement of Eligibility under the Trust Indenture Act of 1939 on Form&nbsp;T-1 of The Bank of New&nbsp;York.</FONT></TD>
</TR>
</TABLE>
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<HR NOSHADE>
<P style='page-break-before:always'></p>
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<BR>
<P><br><A NAME="07ZAC3742_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_bc3742_1">PART I INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_bg3742_1">TABLE OF CONTENTS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_2">ABOUT THIS PROSPECTUS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_3">DOCUMENTS INCORPORATED BY REFERENCE</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_4">FORWARD-LOOKING INFORMATION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_5">WHERE YOU CAN FIND MORE INFORMATION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_6">ENFORCEABILITY OF CIVIL LIABILITIES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_bg3742_7">RISK FACTORS</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_de3742_1">SUNCOR ENERGY INC.</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de3742_2">USE OF PROCEEDS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de3742_3">INTEREST COVERAGE</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_de3742_4">DESCRIPTION OF DEBT SECURITIES</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_di3742_1">PLAN OF DISTRIBUTION</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di3742_2">CERTAIN INCOME TAX CONSEQUENCES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di3742_3">LEGAL MATTERS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di3742_4">INTEREST OF EXPERTS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_di3742_5">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_je3742_1">PART II INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jg3742_1">PART III UNDERTAKING AND CONSENT TO SERVICE OF PROCESS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_jg3742_2">SIGNATURES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_jg3742_3">POWERS OF ATTORNEY</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_jg3742_4">AUTHORIZED REPRESENTATIVE</A></FONT><BR>

<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ji3742_1">EXHIBITS</A></FONT><BR>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>a2176157zex-5_1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#07ZAC3742_2">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<!-- TOC_END -->
<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 5.1  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ga3742_consent_of_pricewaterhousecoopers_llp"> </A>
<A NAME="toc_ga3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>Consent of PricewaterhouseCoopers LLP    <BR>    </B></FONT></P>

<P><FONT SIZE=2>We
hereby consent to the incorporation by reference in the Registration Statement on Form&nbsp;F-9 (the "Registration Statement") of Suncor Energy Inc. (the "Corporation") of our report dated
March&nbsp;1, 2006 to the shareholders of the Corporation on the following financial statements: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>the
consolidated balance sheets of the Corporation as at December&nbsp;31, 2005 and 2004;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>the
consolidated statements of earnings, cash flows and changes in shareholders' equity for each of the years in the three year period ended
December&nbsp;31,&nbsp;2005. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>We
also consent to the reference to us under the heading "Interest of Experts" in such Regitration&nbsp;Statement. </FONT></P>

<P><FONT SIZE=2>Yours
very truly, </FONT></P>


<P><FONT SIZE=2><B>
<IMG SRC="g3201.jpg" ALT="LOGO" WIDTH="409" HEIGHT="52">
  </B></FONT></P>

<P><FONT SIZE=2>Chartered
Accountants<BR>
Calgary, Alberta<BR>
February&nbsp;20, 2007 </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<BR>
<P><br><A NAME="07ZAC3742_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ga3742_1">Consent of PricewaterhouseCoopers LLP</A></FONT><BR>
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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>a2176157zex-5_2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 5.2  </B></FONT></P>

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<TD WIDTH="69%"><BR><FONT SIZE=2><B>
<IMG SRC="g617620.jpg" ALT="LOGO" WIDTH="241" HEIGHT="72">
 </B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="29%" ALIGN="RIGHT"><BR><FONT SIZE=1>Blake, Cassels &amp; Graydon LLP<BR>
Barristers &amp; Solicitors<BR>
Patent &amp; Trade-mark Agents<BR>
855 - 2nd Street S.W.<BR>
Suite 3500, Bankers Hall East Tower<BR>
Calgary AB T2P 4J8 Canada<BR>
Tel: 403-260-9600&nbsp;&nbsp;&nbsp;&nbsp;Fax: 403-260-9700</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2>February&nbsp;20,
2007 </FONT></P>

<P><FONT SIZE=2>The
Securities and Exchange Commission </FONT></P>

<P><FONT SIZE=2><B>Re: F-9 Registration Statement of Suncor Energy&nbsp;Inc. (the&nbsp;"Corporation")</B></FONT></P>

<P><FONT SIZE=2>Dear
Sirs/Mesdames: </FONT></P>

<P><FONT SIZE=2>We
hereby consent to all references to our firm name in the registration statement on Form&nbsp;F-9 (the&nbsp;"Registration Statement") filed by the Corporation under the Securities
Act of 1933, including the references in the Registration Statement on the face page and under the headings "Legal Matters", "Enforceability of Civil Liabilities" and "Description of Debt
Securities&nbsp;&#151;&nbsp;Enforceability of Judgments" in the&nbsp;Prospectus. </FONT></P>

<P><FONT SIZE=2>Yours
truly, </FONT></P>

<P><FONT SIZE=2><I>/s/ Blake, Cassels&nbsp;&amp; Graydon&nbsp;LLP  </I></FONT></P>

<P><FONT SIZE=1>MONTR&Eacute;AL&nbsp;&nbsp;&nbsp;&nbsp;OTTAWA&nbsp;&nbsp;&nbsp;&nbsp;TORONTO&nbsp;&nbsp;&nbsp;&nbsp;CALGARY&nbsp;&nbsp;&nbsp;&nbsp;VANCOUVER&nbsp;&nbsp;&nbsp;&nbsp;NEW
YORK&nbsp;&nbsp;&nbsp;&nbsp;CHICAGO&nbsp;&nbsp;&nbsp;&nbsp;LONDON&nbsp;&nbsp;&nbsp;&nbsp;BEIJING&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=1><B>blakes.com  </B></FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>4
<FILENAME>a2176157zex-5_3.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 5.3  </B></FONT></P>

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<TD WIDTH="76%"><FONT SIZE=2><B>
<IMG SRC="g774510.jpg" ALT="LOGO" WIDTH="351" HEIGHT="70">
 </B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=1>Principal Officers:<BR>
Harry Jung, P. Eng.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;President, C.E.O.<BR>
Dana B. Laustsen, P. Eng.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Executive V.P., C.O.O.<BR>
Keith M. Braaten, P. Eng.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Executive V.P.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=1><BR>
Officers / Vice Presidents:</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=1><BR>
Terry L. Aarsby, P. Eng.<BR>
Jodi L. Anhorn, P. Eng.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" ALIGN="CENTER"><FONT SIZE=3><B>LETTER OF CONSENT</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=1>Neil I. Dell, P. Eng.<BR>
David G. Harris, P. Geol.<BR>
Myron J. Hladyshevsky, P. Eng.<BR>
Bryan M. Joa, P. Eng.<BR>
John H. Stilling, P. Eng.<BR>
Douglas R. Sutton, P. Eng.<BR>
James H. Willmon, P. Eng.</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2><B>To: The Securities and Exchange Commission  </B></FONT></P>

<P><FONT SIZE=2>Dear
Sirs: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;<U>Suncor Energy&nbsp;Inc. (the&nbsp;"Corporation")</U></B></FONT></P>

<P><FONT SIZE=2>We
refer to the Registration Statement on Form&nbsp;F-9 (the&nbsp;"Registration Statement") filed by the Corporation under the Securities Act of 1933, as&nbsp;amended. </FONT></P>


<P><FONT SIZE=2>We
are a firm of independent petroleum consultants of Calgary, Alberta having prepared reports for the Corporation evaluating the Corporation's reserves as at December&nbsp;31, 2005, as described in
the Annual Information Form ("AIF") of the Corporation dated March&nbsp;1,&nbsp;2006. </FONT></P>

<P><FONT SIZE=2>We
hereby consent to the use of and reference to our name under the heading "Interests of Experts" in the Registration Statement and to all other references to our firm and the inclusion of
information derived from our reports in: (i)&nbsp;the AIF which is incorporated by reference in the Registration Statement; (ii)&nbsp;the Form&nbsp;40-F of the Corporation for the
fiscal year ending December&nbsp;31, 2005 filed with the U.S.&nbsp;Securities and Exchange Commission; and (iii)&nbsp;the Registration Statement. </FONT></P>


<P><FONT SIZE=2>We
also confirm that we have read the Registration Statement and that we have no reason to believe that there are any misrepresentations in the information contained in it that are derived from the
above-mentioned reports or that are within our knowledge as a result of the services we performed in connection with the&nbsp;reports. </FONT></P>

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<TD WIDTH="49%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2>Yours very truly,</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%"><BR><FONT SIZE=2><B>GLJ PETROLEUM CONSULTANTS&nbsp;LTD.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2><BR>
/s/ James H. Willmon</FONT></TD>
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<TD WIDTH="49%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2><BR>
James H. Willmon, P. Eng.<BR>
Vice-President</FONT></TD>
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<P><FONT SIZE=2>Dated:
February&nbsp;20, 2007<BR>
Calgary, Alberta<BR>
CANADA </FONT></P>

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<TD WIDTH="100%"><HR NOSHADE><FONT SIZE=1> 4100, 400 - 3<SUP>rd</SUP>&nbsp;Avenue S.W., Calgary, Alberta, Canada T2P 4H2 &#149; (403) 266-9500 &#149; Fax (403) 262-1855 &#149; GLJPC.com</FONT></TD>
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<P style='page-break-before:always'></p>
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<DOCUMENT>
<TYPE>EX-7.1
<SEQUENCE>5
<FILENAME>a2176157zex-7_1.htm
<DESCRIPTION>EXHIBIT 7.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 7.1  </B></FONT></P>

<HR NOSHADE>
<BR>
<P ALIGN="CENTER"><FONT SIZE=2>SUNCOR
ENERGY&nbsp;INC.,<BR>
as Issuer </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>and
</FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>THE
BANK OF NEW YORK,<BR>
as Trustee </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Indenture  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Dated as
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Providing
for the issue of<BR>
Debt Securities<BR>
in unlimited principal amount </FONT></P>

<HR NOSHADE>
<BR>
<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><B>SUNCOR ENERGY&nbsp;INC.  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Reconciliation and tie between Trust Indenture Act<BR>
of 1939 and Indenture, dated as of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,  </B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="19%" ALIGN="CENTER"><FONT SIZE=1><B>Trust Indenture<BR>
Act Section </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="58%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="19%" ALIGN="CENTER"><FONT SIZE=1><B>Indenture Section</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2> &sect;310(a)(1)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>607</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(2)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>607</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>608</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&sect;312(c)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>701</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&sect;314(a)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>705</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(4)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>1004</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)(1)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>102</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)(2)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>102</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>102</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&sect;315(b)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>601</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2> &sect;316(a)(last&nbsp;sentence)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>101 ("Outstanding")</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(1)(A)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>512</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(1)(B)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>502, 513</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>508</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>104(e)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2> &sect;317(a)(1)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>503</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(2)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>504</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>1003</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="19%"><FONT SIZE=2>&sect;318(a)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="58%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%"><FONT SIZE=2>116</FONT></TD>
</TR>
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<HR NOSHADE ALIGN="LEFT" WIDTH="60">

<P><FONT SIZE=2>Note: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the&nbsp;Indenture. </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><B>TABLE OF CONTENTS  </B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="10%" ALIGN="CENTER"><FONT SIZE=1><B>Page</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>PARTIES</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>RECITALS OF THE COMPANY</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE ONE<BR>
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;101. Definitions</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2><BR>
1</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Accelerated Indebtedness</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Act</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Additional Amounts</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Affiliate</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Authenticating Agent</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Authorized Newspaper</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Bearer Security</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Board of Directors</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Board Resolution</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Business Day</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>calculation period</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Canadian Taxes</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Capital Lease Obligation</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Clearstream</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Commission</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Common Depositary</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Company Request</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>Company Order</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Consolidated Net Tangible Assets</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Component Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Conversion Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Conversion Event</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Corporate Trust Office</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>corporation</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>coupon</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>covenant defeasance</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Current Assets</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="88%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Debt</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="60">

<P><FONT SIZE=2>Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=3,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="5",CHK=735046,FOLIO='blank',FILE='DISK127:[07ZAE2.07ZAE3742]BI3742A.;15',USER='SMAH',CD='14-FEB-2007;21:53' -->
<A NAME="page_bi3742_1_2"> </A>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Default</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Defaulted Interest</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>defeasance</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Depositary for Securities</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Dollar</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>$</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Dollar Equivalent of the Currency Unit</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Dollar Equivalent of the Foreign Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Election Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Equity Interest</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Euro</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Euroclear</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Event of Default</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Exchange Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Exchange Rate Agent</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Exchange Rate Officer's Certificate</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Excluded Holder</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Extension Notice</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Extension Period</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Final Maturity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Financial Instrument Obligations</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>First Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Foreign Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>GAAP</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Government Obligations</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Holder</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Indenture</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Indexed Security</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>interest</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Interest Payment Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Judgment Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Lien</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>mandatory sinking fund payment</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Market Exchange Rate</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Maturity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Officers' Certificate</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Opinion of Counsel</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Optional Reset Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>optional sinking fund payment</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Original Issue Discount Security</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Original Stated Maturity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Outstanding</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Paying Agent</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Person</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Place of Payment</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Predecessor Security</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Property</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Purchase Money Mortgage</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Purchase Money Obligation</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>10</FONT></TD>
</TR>
</TABLE>
<!-- insert table folio -->
<P ALIGN="CENTER"><FONT SIZE=2>ii</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=4,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="5",CHK=590714,FOLIO='ii',FILE='DISK127:[07ZAE2.07ZAE3742]BI3742A.;15',USER='SMAH',CD='14-FEB-2007;21:53' -->
<A NAME="page_bi3742_1_3"> </A>
<!-- end of table folio -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>rate(s) of exchange</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Redemption Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Redemption Price</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Registered Security</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Regular Record Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Repayment Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Repayment Price</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Required Currency</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Reset Notice</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Responsible Officer</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Restricted Subsidiary</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Securities</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>11</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Security Register</B></FONT><FONT SIZE=2>" and "</FONT><FONT SIZE=2><B>Security Registrar</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Shareholders' Equity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Special Record Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Specified Amount</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Stated Maturity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Subsidiary</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Subsequent Interest Period</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Trust Indenture Act</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>TIA</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Trustee</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>United&nbsp;States</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>United&nbsp;States person</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>12</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Valuation Date</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Vice President</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Voting Shares</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Yield to Maturity</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="86%"><FONT SIZE=2>"</FONT><FONT SIZE=2><B>Wholly Owned Subsidiary</B></FONT><FONT SIZE=2>"</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;102. Compliance Certificates and Opinions</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>13</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;103. Form of Documents Delivered to Trustee</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>14</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;104. Acts of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>14</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;105. Notices, etc. to Trustee and Company</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>16</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;106. Notice to Holders; Waiver</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>16</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;107. Effect of Headings and Table of Contents</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;108. Successors and Assigns</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;109. Separability Clause</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>17</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;110. Benefits of Indenture</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;111. Governing Law</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;112. Legal Holidays</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;113. Agent for Service; Submission to Jurisdiction; Waiver of Immunities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>18</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;114. Conversion of Currency</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>19</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;115. Currency Equivalent</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>20</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;116. Conflict with Trust Indenture Act</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>20</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;117. Incorporators, Shareholders, Officers and Directors of the Company Exempt from Individual Liability</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>20</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;118. Security Interest</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>20</FONT></TD>
</TR>
</TABLE>
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<BR>
<P ALIGN="CENTER"><FONT SIZE=2>iii</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_bi3742_1_4"> </A>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE TWO<BR>
SECURITIES FORMS</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;201. Forms Generally</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
21</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;202. Form of Trustee's Certificate of Authentication</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;203. Securities Issuable in Global Form</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>22</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE THREE<BR>
THE SECURITIES</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;301. Amount Unlimited; Issuable in Series</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
23</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;302. Denominations</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>27</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;303. Execution, Authentication, Delivery and Dating</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>27</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;304. Temporary Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>29</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;305. Registration, Registration of Transfer and Exchange</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>32</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;306. Mutilated, Destroyed, Lost and Stolen Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>35</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;307. Payment of Principal and Interest; Interest Rights Preserved; Optional Interest Reset</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>36</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;308. Optional Extension of Stated Maturity</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>39</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;309. Persons Deemed Owners</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;310. Cancellation</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>40</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;311. Computation of Interest</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>41</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;312. Currency and Manner of Payments in Respect of Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>41</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;313. Appointment and Resignation of Successor Exchange Rate Agent</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>44</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE FOUR<BR>
SATISFACTION AND DISCHARGE</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;401. Satisfaction and Discharge of Indenture</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
45</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;402. Application of Trust Money</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>46</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE FIVE<BR>
REMEDIES</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;501. Events of Default</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
46</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;502. Acceleration of Maturity; Rescission and Annulment</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>48</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;503. Collection of Debt and Suits for Enforcement by Trustee</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>49</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;504. Trustee May File Proofs of Claim</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>50</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;505. Trustee May Enforce Claims Without Possession of Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>50</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;506. Application of Money Collected</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>51</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;507. Limitation on Suits</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>51</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;508. Unconditional Right of Holders to Receive Principal, Premium and Interest</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>52</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;509. Restoration of Rights and Remedies</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>52</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;510. Rights and Remedies Cumulative</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>52</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;511. Delay or Omission Not Waiver</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>52</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;512. Control by Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>53</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>iv</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=6,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="5",CHK=613270,FOLIO='iv',FILE='DISK127:[07ZAE2.07ZAE3742]BI3742A.;15',USER='SMAH',CD='14-FEB-2007;21:53' -->
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;513. Waiver of Past Defaults</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>53</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;514. Waiver of Stay or Extension Laws</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>53</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE SIX<BR>
THE TRUSTEE</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;601. Notice of Defaults</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
54</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;602. Certain Rights of Trustee</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>54</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;603. Trustee Not Responsible for Recitals or Issuance of Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>55</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;604. May Hold Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>56</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;605. Money Held in Trust</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>56</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;606. Compensation and Reimbursement</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>56</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;607. Corporate Trustee Required; Eligibility</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>57</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;608. Resignation and Removal; Appointment of Successor</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>57</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;609. Acceptance of Appointment by Successor</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>59</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;610. Merger, Conversion, Consolidation or Succession to Business</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>60</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;611. Appointment of Authenticating Agent</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>60</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE SEVEN<BR>
HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;701. Company to Furnish Trustee Names and Addresses of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
62</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;702. Preservation of List of Names and Addresses of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>62</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;703. Disclosure of Names and Addresses of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>62</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;704. Reports by Trustee</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>63</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;705. Reports by the Company</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>63</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE EIGHT<BR>
CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;801. Company May Consolidate, etc., Only on Certain Terms</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
64</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;802. Successor&nbsp;Person Substituted</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>65</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;803. Securities to Be Secured in Certain Events</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>66</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE NINE<BR>
SUPPLEMENTAL INDENTURES</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;901. Supplemental Indentures Without Consent of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
66</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;902. Supplemental Indentures with Consent of Holders</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>68</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;903. Execution of Supplemental Indentures</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;904. Effect of Supplemental Indentures</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;905. Conformity with Trust Indenture Act</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;906. Reference in Securities to Supplemental Indentures</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>69</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;907. Notice of Supplemental Indentures</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>69</FONT></TD>
</TR>
</TABLE>
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<BR>
<P ALIGN="CENTER"><FONT SIZE=2>v</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_bi3742_1_6"> </A>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE TEN<BR>
COVENANTS</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1001. Payment of Principal, Premium, if any, and Interest</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
70</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1002. Maintenance of Office or Agency</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>70</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1003. Money for Securities Payments to Be Held in Trust</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>71</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1004. Statement as to Compliance and Notice of Default</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>73</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1005. Additional Amounts</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>73</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1006. Payment of Taxes and Other Claims</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>74</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1007. To Carry on Business</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>74</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1008. Corporate Existence</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>75</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1009. Limitation on Liens</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>75</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1010. Waiver of Certain Covenants</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>77</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1011. Calculation of Original Issue Discount</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>77</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE ELEVEN<BR>
REDEMPTION OF SECURITIES</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1101. Applicability of Article</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
78</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1102. Election to Redeem; Notice to Trustee</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>78</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1103. Selection by Trustee of Securities to Be Redeemed</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>78</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1104. Notice of Redemption</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>78</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1105. Deposit of Redemption Price</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>79</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1106. Securities Payable on Redemption Date</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>80</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1107. Securities Redeemed in Part</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>80</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1108. Tax Redemption</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>81</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE TWELVE<BR>
SINKING FUNDS</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1201. Applicability of Article</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
81</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1202. Satisfaction of Sinking Fund Payments with Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>82</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1203. Redemption of Securities for Sinking Fund</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>82</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE THIRTEEN<BR>
REPAYMENT AT OPTION OF HOLDERS</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1301. Applicability of Article</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
83</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1302. Repayment of Securities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>83</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1303. Exercise of Option</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>84</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1304. When Securities Presented for Repayment Become Due and Payable</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>84</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1305. Securities Repaid in Part</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>85</FONT></TD>
</TR>
</TABLE>
<!-- insert table folio -->
<P ALIGN="CENTER"><FONT SIZE=2>vi</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_bi3742_1_7"> </A>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE FOURTEEN<BR>
DEFEASANCE AND COVENANT DEFEASANCE</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1401. Company's Option to Effect Defeasance or Covenant Defeasance</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
85</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1402. Defeasance and Discharge</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>86</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1403. Covenant Defeasance</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>86</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1404. Conditions to Defeasance or Covenant Defeasance</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>87</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1405. Deposited Money and Government Obligations to Be Held in Trust;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Miscellaneous Provisions</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>88</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1406. Reinstatement</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>89</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=3 ALIGN="CENTER"><BR><FONT SIZE=2> ARTICLE FIFTEEN<BR>
MEETINGS OF HOLDERS OF SECURITIES</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> SECTION&nbsp;1501. Purposes for Which Meetings May Be Called</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
90</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1502. Call, Notice and Place of Meetings</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>90</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1503. Persons Entitled to Vote at Meetings</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>90</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1504. Quorum; Action</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>91</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1505. Determination of Voting Rights; Conduct and Adjournment of Meetings</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>92</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1506. Counting Votes and Recording Action of Meetings</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>93</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2><FONT SIZE=2>SECTION&nbsp;1507. Waiver of Jury Trial</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>93</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD COLSPAN=2><BR><FONT SIZE=2> FORMS OF CERTIFICATION</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
EXHIBIT A</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>vii</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDENTURE, dated as&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;between SUNCOR ENERGY&nbsp;INC., a corporation duly organized and existing under the laws of Canada (herein called the
"</FONT><FONT SIZE=2><B>Company</B></FONT><FONT SIZE=2>"), having its principal office at 112-4<SUP>th</SUP>&nbsp;Avenue S.W., Calgary, Alberta T2P&nbsp;2V5, and THE BANK OF NEW
YORK, a New&nbsp;York banking corporation, as trustee (herein called the&nbsp;"</FONT><FONT SIZE=2><B>Trustee</B></FONT><FONT SIZE=2>"). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>RECITALS OF THE COMPANY  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or
other evidences of indebtedness (herein called the "</FONT><FONT SIZE=2><B>Securities</B></FONT><FONT SIZE=2>"), which may be convertible into or exchangeable for any securities of any person
(including the Company), to be issued in one or more series as in this Indenture provided. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended, that are required to be part of this Indenture and shall, to the extent applicable, be
governed by such provisions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been&nbsp;done. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, THIS INDENTURE WITNESSETH: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities or of series thereof, as&nbsp;follows: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE ONE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 101.&nbsp;&nbsp;&nbsp;&nbsp;Definitions.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the&nbsp;singular; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;all
other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein, and the
terms "cash transaction" and "self-liquidating paper", as used in TIA Section&nbsp;311, shall have the meanings assigned to them in the rules of the Commission adopted under the Trust
Indenture&nbsp;Act; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP;&nbsp;and </FONT></P>

</UL>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;the
words "herein", "hereof" and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
terms, used principally in Article Three, are defined in that Article. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Accelerated Indebtedness</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;501. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Act</B></FONT><FONT SIZE=2>", when used with respect to any Holder, has the meaning specified in Section&nbsp;104. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Additional Amounts</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1005. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Affiliate</B></FONT><FONT SIZE=2>" of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition, "control" when used with respect to any specified Person means the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to
the&nbsp;foregoing. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Authenticating Agent</B></FONT><FONT SIZE=2>" means any Person appointed by the Trustee to act on behalf of the Trustee pursuant to Section&nbsp;611
to&nbsp;authenticate Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Authorized Newspaper</B></FONT><FONT SIZE=2>" means a newspaper (which in the case of Canada, will, if practicable, be The Globe&nbsp;&amp; Mail, in the case of
The City of New&nbsp;York, will, if practicable, be The Wall Street Journal (Eastern Edition), in the case of the United&nbsp;Kingdom will, if practicable, be The Financial Times (London Edition)
and, in the case of Luxembourg, will, if practicable, be The Luxembourg (Wort)), in the English language or in an official language of the country of publication, customarily published on each
Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in Canada, The City of New&nbsp;York, the United&nbsp;Kingdom or Luxembourg, as applicable.
Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting the foregoing
requirements and in each case on any Business&nbsp;Day. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Bearer Security</B></FONT><FONT SIZE=2>" means any Security except a Registered Security. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Board of Directors</B></FONT><FONT SIZE=2>" means either the board of directors of the Company or any duly authorized committee of that&nbsp;board. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Board Resolution</B></FONT><FONT SIZE=2>" means a copy of a resolution certified by the Senior Vice President and General Counsel or the Vice President,
Associate General Counsel and Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to
the&nbsp;Trustee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Business Day</B></FONT><FONT SIZE=2>", when used with respect to any Place of Payment, Calgary, New&nbsp;York, London, Luxembourg or any other particular
location referred to in this Indenture or in the Securities, means, unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301, each Monday, Tuesday, Wednesday, Thursday
and Friday which is not a day on which banking institutions in that Place of Payment, Calgary, New&nbsp;York, London, Luxembourg or other location are authorized or obligated by law or executive
order to&nbsp;close. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<A NAME="page_de3742_1_3"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>calculation period</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;311. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Canadian Taxes</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1005. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Capital Lease Obligation</B></FONT><FONT SIZE=2>" means the obligation of a Person, as lessee, to pay rent or other amounts to the lessor under a lease of real
or personal property which is required to be classified and accounted for as a capital lease on a consolidated balance sheet of such person in accordance with&nbsp;GAAP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Clearstream</B></FONT><FONT SIZE=2>" means Clearstream Banking, soci&eacute;t&eacute; anonyme, or its successor. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Collateral Documents</B></FONT><FONT SIZE=2>" means, in connection with the issuance under this Indenture pursuant to Section&nbsp;301 of any series of
Securities secured pursuant to Section&nbsp;301 hereof, any agreement or agreements creating or relating to any security interest securing the due and punctual payment of all amounts at any time
owing under such series of&nbsp;Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Commission</B></FONT><FONT SIZE=2>" means the U.S.&nbsp;Securities and Exchange Commission, as from time to time constituted, created under the Securities
Exchange Act of 1934, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body
performing such duties at such&nbsp;time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Common Depositary</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;304. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Company</B></FONT><FONT SIZE=2>" means the Person named as the "Company" in the first paragraph of this Indenture until a successor Person shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter "Company" shall mean such successor Person. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Company Request</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>Company Order</B></FONT><FONT SIZE=2>" means a written request or order signed in the name
of the Company by its President and Chief Executive Officer, its Chief Final Officer, its Vice President, Finance, its Senior Vice President and General Counsel, its Vice President, Associate General
Counsel and Secretary or any Vice President and delivered to the&nbsp;Trustee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Consolidated Net Tangible Assets</B></FONT><FONT SIZE=2>" means the total amount of assets of the Company on a consolidated basis (less applicable reserves)
after deducting therefrom: (i)&nbsp;all current liabilities (excluding any current liabilities which are by their terms extendible or renewable at the option of the obligor thereon to a time more
than 12&nbsp;months after the time as of which the amount thereof is being computed); (ii)&nbsp;all goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other
similar intangibles; and (iii)&nbsp;appropriate adjustments on account of minority interests of other Persons holding stock of the Company's Subsidiaries; in each case as shown on the most recent
annual audited or quarterly unaudited consolidated balance sheet of the Company and computed in accordance with&nbsp;GAAP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Component Currency</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_4"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Conversion Date</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Conversion Event</B></FONT><FONT SIZE=2>" means the cessation of use of (i)&nbsp;a Foreign Currency (other than the Euro or other currency unit) both by the
government of the country which issued such Currency and by a central bank or other public institution of or within the international banking community for the settlement of transactions,
(ii)&nbsp;the Euro or (iii)&nbsp;any currency unit (or&nbsp;composite currency) other than the Euro for the purposes for which it was established. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Corporate Trust Office</B></FONT><FONT SIZE=2>" means the principal office of the Trustee at which at any time its corporate trust business shall be
administered, which office at the date hereof is located at 101&nbsp;Barclay Street, Floor 4&nbsp;East, New&nbsp;York, New&nbsp;York 10286, Attention: Global Finance Americas Unit, facsimile:
(212)&nbsp;815-5802 or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any
successor Trustee (or&nbsp;such other address as such successor Trustee may designate from time to time by notice to the Holders and the&nbsp;Company). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>corporation</B></FONT><FONT SIZE=2>" includes corporations, associations, companies and business trusts. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>coupon</B></FONT><FONT SIZE=2>" means any interest coupon appertaining to a Bearer Security. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>covenant defeasance</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1403. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Currency</B></FONT><FONT SIZE=2>" means any currency or currencies, composite currency or currency unit or currency units, including, without limitation, the
Euro, issued by the government of one or more countries or by any recognized confederation or association of such governments. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Current Assets</B></FONT><FONT SIZE=2>" means current assets as determined in accordance with GAAP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Debt</B></FONT><FONT SIZE=2>" means as at the date of determination, all items of indebtedness in respect of any amounts borrowed which, in accordance with GAAP,
would be recorded as debt in the consolidated financial statements of any person, including: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>any
obligation for borrowed money;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>any
obligation evidenced by bonds, debentures, notes, or other similar instruments;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>any
Purchase Money Obligation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD><FONT SIZE=2>any
Capital Lease Obligation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD><FONT SIZE=2>any
payment obligation under Financial Instrument Obligations; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD><FONT SIZE=2>any
guarantee of Debt of another person. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Default</B></FONT><FONT SIZE=2>" means any event which is, or after notice or passage of time or both would be, an Event of&nbsp;Default. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Defaulted Interest</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;307. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_5"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>defeasance</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1402. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Depositary for&nbsp;Securities</B></FONT><FONT SIZE=2>" means The Depository Trust Company, or any successor thereto, or any other Person designated pursuant
to Section&nbsp;301. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Dollar</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>$</B></FONT><FONT SIZE=2>" means a dollar or other equivalent unit in such coin or currency of the
United&nbsp;States as at the time shall be legal tender for the payment of public and private&nbsp;debts. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Dollar Equivalent of the Currency Unit</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Dollar Equivalent of the Foreign Currency</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Election Date</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Equity Interest</B></FONT><FONT SIZE=2>" of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other
equivalents of or interests in (however designated) corporate stock or other equity participations, including partnership interests, whether general or limited, of such&nbsp;Person. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Euro</B></FONT><FONT SIZE=2>" means the single currency of the participating member states from time to time of the European Union described in legislation of
the European Counsel for the operation of a single unified European currency (whether known as the Euro or&nbsp;otherwise). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Euroclear</B></FONT><FONT SIZE=2>" means Morgan Guaranty Trust Company of New&nbsp;York, Brussels Office, or its successor as operator of the Euroclear System. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Event of Default</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;501. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Exchange Date</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;304. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Exchange Rate Agent</B></FONT><FONT SIZE=2>" means, with respect to Securities of or within any series, unless otherwise specified with respect to any Securities
pursuant to Section&nbsp;301, a New&nbsp;York Clearing House bank, designated pursuant to Section&nbsp;301 or&nbsp;Section&nbsp;313. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Exchange Rate Officer's Certificate</B></FONT><FONT SIZE=2>" means a tested telex or a certificate setting forth (i)&nbsp;the applicable Market Exchange Rate
and (ii)&nbsp;the Dollar or Foreign Currency amounts of principal (and&nbsp;premium, if any) and interest, if any (on&nbsp;an aggregate basis and on the basis of a Security having the lowest
denomination principal amount determined in accordance with Section&nbsp;302 in the relevant Currency), payable with respect to a Security of any series on the basis of such Market Exchange Rate,
sent (in&nbsp;the case of a telex) or signed (in&nbsp;the case of a certificate) by the Chief Financial Officer, the Vice President, Finance or any Vice President of the&nbsp;Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Excluded Holder</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1005. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Extension Notice</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;308. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_6"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Extension Period</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;308. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Final Maturity</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;308. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Financial Instrument Obligations</B></FONT><FONT SIZE=2>" means obligations arising under: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>interest
rate swap agreements, forward rate agreements, floor, cap or collar agreements, futures or options, insurance or other similar agreements or arrangements, or
any combination thereof, entered into by a Person of which the subject matter is interest rates or pursuant to which the price, value or amount payable thereunder is dependent or based upon interest
rates in effect from time to time or fluctuations in interest rates occurring from time to&nbsp;time;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>currency
swap agreements, cross-currency agreements, forward agreements, floor, cap or collar agreements, futures or options, insurance or other similar agreements or
arrangements, or any combination thereof, entered into by a Person of which the subject matter is currency exchange rates or pursuant to which the price, value or amount payable thereunder is
dependent or based upon currency exchange rates in effect from time to time or fluctuations in currency exchange rates occurring from time to time;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>commodity
swap or hedging agreements, floor, cap or collar agreements, commodity futures or options or other similar agreements or arrangements, or any combination
thereof, entered into by a Person of which the subject matter is one or more commodities or pursuant to which the price, value or amount payable thereunder is dependent or based upon the price of one
or more commodities in effect from time to time or fluctuations in the price of one or more commodities occurring from time to&nbsp;time. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>First Currency</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;115. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Foreign Currency</B></FONT><FONT SIZE=2>" means any Currency other than Currency of the United&nbsp;States. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>GAAP</B></FONT><FONT SIZE=2>" means generally accepted accounting principles which such Person reports its financial statements in and which are in effect from
time to&nbsp;time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Government Obligations</B></FONT><FONT SIZE=2>" means, unless otherwise specified with respect to any series of Securities pursuant to Section&nbsp;301,
securities which are (i)&nbsp;direct obligations of the government which issued the Currency in which the Securities of a particular series are payable or (ii)&nbsp;obligations of a Person
controlled or supervised by and acting as an agency or instrumentality of the government which issued the Currency in which the Securities of such series are payable, the payment of which is
unconditionally guaranteed by such government, which, in either case, are full faith and credit obligations of such government payable in such Currency and are not callable or redeemable at the option
of the issuer thereof and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or
principal of any such Government Obligation held by such custodian for the account of the holder of a depository receipt; <U>provided</U> that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or
the specific payment of interest or principal of the Government Obligation evidenced by such depository receipt. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

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<A NAME="page_de3742_1_7"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Holder</B></FONT><FONT SIZE=2>" means, in the case of a Registered Security, the Person in whose name a Security is registered in the Security Register and, in
the case of a Bearer Security, the bearer thereof and, when used with respect to any coupon, shall mean the bearer&nbsp;thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Indenture</B></FONT><FONT SIZE=2>" means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof, and shall include the terms of particular series of Securities established as contemplated by
Section&nbsp;301; <U>provided</U>, <U>however</U>, that, if at any time more than one Person is acting as Trustee under this instrument, "Indenture" shall
mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities for which such Person is Trustee
established as contemplated by Section&nbsp;301, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless of
when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such Person had become
such Trustee but to which such Person, as such Trustee, was not a&nbsp;party. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Indexed Security</B></FONT><FONT SIZE=2>" means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or
less than the principal face amount thereof at original issuance. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>interest</B></FONT><FONT SIZE=2>", when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means
interest payable after Maturity at the rate prescribed in such Original Issue Discount Security. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Interest Payment Date</B></FONT><FONT SIZE=2>", when used with respect to any Security, means the Stated Maturity of an installment of interest on
such&nbsp;Security. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Judgment Currency</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;114. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Lien</B></FONT><FONT SIZE=2>" means any security by way of an assignment, mortgage, charge, pledge, lien, encumbrance, title retention agreement or other
security interest whatsoever, but not including any security interest in respect of a lease which is not a Capital Lease Obligation and provided that such term shall not include any encumbrance that
may be deemed to arise solely as a result of entering into an agreement, not in violation of the terms of this Indenture, to sell or otherwise transfer assets or&nbsp;Property. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>mandatory sinking fund payment</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1201. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_8"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Market Exchange Rate</B></FONT><FONT SIZE=2>" means, unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301,
(i)&nbsp;for&nbsp;any conversion involving a currency unit on the one hand and Dollars or any Foreign Currency on the other, the exchange rate between the relevant currency unit and Dollars or
such Foreign Currency calculated by the method specified pursuant to Section&nbsp;301 for&nbsp;the Securities of the relevant series, (ii)&nbsp;for any conversion of Dollars into any Foreign
Currency, the noon (New&nbsp;York City time) buying rate for such Foreign Currency for cable transfers quoted in New&nbsp;York City as certified for customs purposes by the Federal Reserve Bank of
New&nbsp;York and (iii)&nbsp;for any conversion of one Foreign Currency into Dollars or another Foreign Currency, the spot rate at noon local time in the relevant market at which, in accordance
with normal banking procedures, the Dollars or Foreign Currency into which conversion is being made could be purchased with the Foreign Currency from which conversion is being made from major banks
located in either New&nbsp;York City, London or any other principal market for Dollars or such purchased Foreign Currency, in each case determined by the Exchange Rate Agent. Unless otherwise
specified with respect to any Securities pursuant to Section&nbsp;301, in the event of the unavailability of any of the exchange rates provided for in the foregoing clauses&nbsp;(i),
(ii)&nbsp;and&nbsp;(iii), the Exchange Rate Agent shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New&nbsp;York as of the most
recent available date, or quotations from one or more major banks in New&nbsp;York City, London, England or another principal market for the Currency in question, or such other quotations as the
Exchange Rate Agent shall deem appropriate. Unless otherwise specified by the Exchange Rate Agent, if there is more than one market for dealing in any Currency by reason of foreign exchange
regulations or otherwise, the market to be used in respect of such Currency shall be that upon which a non-resident issuer of securities designated in such Currency would purchase such
Currency in order to make payments in respect of such securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Maturity</B></FONT><FONT SIZE=2>", when used with respect to any Security, means the date on which the principal of such Security or an installment of principal
becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption, notice of option to elect repayment or&nbsp;otherwise. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Officers' Certificate</B></FONT><FONT SIZE=2>" means a certificate signed by any two of the President and Chief Executive Officer, the Chief Financial Officer,
the Vice President, Finance, the Senior Vice President and General Counsel, the Vice President, Associate General Counsel and Secretary or any Vice President of the Company, and delivered to
the&nbsp;Trustee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Opinion of Counsel</B></FONT><FONT SIZE=2>" means a written opinion of counsel, who may be counsel for the Company, including an employee of the&nbsp;Company. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Optional Reset Date</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;307. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>optional sinking fund payment</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;1201. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Original Issue Discount Security</B></FONT><FONT SIZE=2>" means any Security which provides for an amount less than the principal amount thereof to be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section&nbsp;502. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Original Stated Maturity</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;308. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_9"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Outstanding</B></FONT><FONT SIZE=2>", when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and
delivered under this Indenture, <U>except</U>: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>Securities
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>Securities,
or portions thereof, for whose payment or redemption or repayment at the option of the Holder money in the necessary amount has been theretofore deposited
with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if&nbsp;the Company shall act as its own Paying Agent) for the Holders of
such Securities and any coupons appertaining thereto; <U>provided</U> that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been&nbsp;made;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>Securities,
except to the extent provided in Sections&nbsp;1402 and&nbsp;1403, with respect to which the Company has effected defeasance and/or covenant defeasance
as provided in Article Fourteen;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD><FONT SIZE=2>Securities
which have been paid pursuant to Section&nbsp;306 or&nbsp;in exchange for or in lieu of which other Securities have been authenticated and delivered
pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected
purchaser (as&nbsp;defined in Article&nbsp;8 of the UCC) in whose hands such Securities are valid obligations of the&nbsp;Company; </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><U>provided</U>,
<U>however</U>, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given any
request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, and for the purpose of making the calculations required by
TIA Section&nbsp;313, (i)&nbsp;the principal amount of an Original Issue Discount Security that may be counted in making such determination or calculation and that shall be deemed to be
Outstanding for such purpose shall be equal to the amount of principal thereof that would be (or&nbsp;shall have been declared to be) due and payable, at the time of such determination, upon a
declaration of acceleration of the maturity thereof pursuant to Section&nbsp;502, (ii)&nbsp;the principal amount of any Security denominated in a Foreign Currency that may be counted in making
such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to the Dollar equivalent, determined as of the date such Security is originally issued by the
Company as set forth in an Exchange Rate Officers' Certificate delivered to the Trustee, of the principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent as of
such date of original issuance of the amount determined as provided in clause&nbsp;(i) above) of such Security, (iii)&nbsp;the principal amount of any Indexed Security that may be counted in
making such determination or calculation and that shall be deemed outstanding for such purpose shall be equal to the principal face amount of such Indexed Security at original issuance, unless
otherwise provided with respect to such Security pursuant to Section&nbsp;301, and (iv)&nbsp;Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such calculation or in relying upon
any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded. Securities so
owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Securities
and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or such other&nbsp;obligor. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

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<A NAME="page_de3742_1_10"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Paying Agent</B></FONT><FONT SIZE=2>" means any Person (including the Company acting as Paying Agent) authorized by the Company to pay the principal of
(or&nbsp;premium, if any) or interest, if any, on any Securities on behalf of the&nbsp;Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Permitted Reorganization</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;801. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Permitted Reorganization Date"</B></FONT><FONT SIZE=2> has the meaning specified in Section&nbsp;801. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Person</B></FONT><FONT SIZE=2>" means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Place of Payment</B></FONT><FONT SIZE=2>" means, when used with respect to the Securities of or within any series, the place or places where the principal of
(and&nbsp;premium, if any) and interest, if any, on such Securities are payable as specified as contemplated by Sections&nbsp;301 and&nbsp;1002. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Predecessor&nbsp;Security</B></FONT><FONT SIZE=2>" of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section&nbsp;306 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security or a Security to which a mutilated, destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen
Security or the Security to which the mutilated, destroyed, lost or stolen coupon appertains, as the case may&nbsp;be. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Property</B></FONT><FONT SIZE=2>" means all property owned by the Company or a Restricted Subsidiary except such property which is determined by a resolution of
the Company's Board of Directors delivered to the Trustee not to be property of material importance to the total business conducted by the Company and its Restricted Subsidiaries. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Purchase Money Mortgage</B></FONT><FONT SIZE=2>" means any Lien created, issued, incurred or assumed by the Company or a Restricted Subsidiary to secure a
Purchase Money Obligation; <U>provided</U> that such Lien is limited to the Property (including the rights associated therewith) acquired, constructed, installed or improved in
connection with such Purchase Money Obligation. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Purchase Money Obligation</B></FONT><FONT SIZE=2>" means Debt of the Company or a Restricted Subsidiary incurred or assumed to finance the purchase price, in
whole or in part, of any Property or incurred to finance the cost, in whole or in part, of construction or installation of or improvements to any Property; provided, however, that such Debt is
incurred or assumed within 180&nbsp;days after the purchase of such Property or the completion of such construction, installation or improvements, as the case may be,
<U>provided</U> that the principal amount of such Debt which is secured by the Lien does not exceed 100% of such purchase price or cost, as the case may be, and includes any
extension, renewal or refunding of any such Debt <U>provided</U> the principal amount thereof outstanding on the date of such extension, renewal or refunding is not increased,
and <U>provided further</U> that any such extension, renewal or refunding does not extend to any Property other than the Property in connection with which such obligation was
created and improvements erected or constructed thereon. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>10</FONT></P>

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<A NAME="page_de3742_1_11"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>rate(s) of exchange</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;114. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Redemption Date</B></FONT><FONT SIZE=2>", when used with respect to any Security to be redeemed, in whole or in part, means the date fixed for such redemption by
or pursuant to this&nbsp;Indenture. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Redemption Price</B></FONT><FONT SIZE=2>", when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to
this&nbsp;Indenture. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Registered Security</B></FONT><FONT SIZE=2>" means any Security registered in the Security Register. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Regular Record Date</B></FONT><FONT SIZE=2>" for the interest payable on any Interest Payment Date on the Registered Securities of or within any series means the
date specified for that purpose as contemplated by Section&nbsp;301. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Repayment Date</B></FONT><FONT SIZE=2>" means, when used with respect to any Security to be repaid at the option of the Holder, the date fixed for such repayment
pursuant to this&nbsp;Indenture. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Repayment Price</B></FONT><FONT SIZE=2>" means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be
repaid pursuant to this&nbsp;Indenture. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Required Currency</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;114. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Reset Notice</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;307. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Responsible Officer</B></FONT><FONT SIZE=2>", when used with respect to the Trustee, means any vice president, any assistant treasurer, any trust officer or
assistant trust officer, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above-designated officers, and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Restricted Subsidiary</B></FONT><FONT SIZE=2>" means a Subsidiary of the Company; <U>provided</U>, <U>however</U>,
such term shall not include any Subsidiary of the Company if the amount of the Company's share of the shareholder's equity in such Subsidiary does not, at the time of determination, exceed 2% of
Shareholders' Equity. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Securities</B></FONT><FONT SIZE=2>" has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and
delivered under this Indenture; <U>provided</U>, <U>however</U>, that if at any time there is more than one Person acting as Trustee under this Indenture,
"Securities" with respect to the Indenture as to which such Person is Trustee shall have the meaning stated in the first recital of this Indenture and shall more particularly mean Securities
authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not&nbsp;Trustee. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_12"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Security Register</B></FONT><FONT SIZE=2>" and "</FONT><FONT SIZE=2><B>Security Registrar</B></FONT><FONT SIZE=2>" have the respective meanings specified in
Section&nbsp;305. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Shareholders' Equity</B></FONT><FONT SIZE=2>" means the aggregate amount of shareholders' equity (including but not limited to share capital, contributed surplus
and retained earnings) of the Company as shown on the most recent annual audited or quarterly unaudited consolidated balance sheet of the Company and computed in accordance with&nbsp;GAAP. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Special Record Date</B></FONT><FONT SIZE=2>" for the payment of any Defaulted Interest on the Registered Securities of or within any series means a date fixed by
the Trustee pursuant to Section&nbsp;307. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Specified Amount</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Stated Maturity</B></FONT><FONT SIZE=2>", when used with respect to any Security or any installment of principal thereof or interest thereon, means the date
specified in such Security or a coupon representing such installment of interest as the fixed date on which the principal of such Security or such installment of principal or interest is due and
payable, as such date may be extended pursuant to the provisions of Section&nbsp;308. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Subsidiary</B></FONT><FONT SIZE=2>" of any person means, at the date of determination, any corporation or other person of which Voting Shares or other interests
carrying more than 50% of the voting rights attached to all outstanding Voting Shares or other interests are owned, directly or indirectly, by or for such person or one or more Subsidiaries thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Subsequent Interest Period</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;307. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Trust Indenture Act</B></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><B>TIA</B></FONT><FONT SIZE=2>" means the Trust Indenture Act of 1939 as in force at the
date as of which this Indenture was executed, except as provided in Section&nbsp;905. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Trustee</B></FONT><FONT SIZE=2>" means the Person named as the "Trustee" in the first paragraph of this Indenture until a successor Trustee shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter "Trustee" shall mean or include each Person who is then a Trustee hereunder; <U>provided</U>,
<U>however</U>, that if at any time there is more than one such Person, "Trustee" as used with respect to the Securities of any series shall mean only the Trustee with respect to
Securities of that&nbsp;series. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>United&nbsp;States</B></FONT><FONT SIZE=2>" means, unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301, the
United&nbsp;States of America (including the states and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>United&nbsp;States person</B></FONT><FONT SIZE=2>" means, unless otherwise specified with respect to any Securities pursuant to Section&nbsp;301, an
individual who is a citizen or resident of the United&nbsp;States, a corporation, partnership or other entity created or organized in or under the laws of the United&nbsp;States or an estate or
trust the income of which is subject to United&nbsp;States federal income taxation regardless of its&nbsp;source. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>12</FONT></P>

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<A NAME="page_de3742_1_13"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Valuation Date</B></FONT><FONT SIZE=2>" has the meaning specified in Section&nbsp;312(c). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Vice President</B></FONT><FONT SIZE=2>", when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or
a word or words added before or after the title "vice president". </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Voting Shares</B></FONT><FONT SIZE=2>" means shares of any class of a corporation having under all circumstances the right to vote for the election of the
directors of such corporation, <U>provided</U> that, for the purpose of this definition, shares which only carry the right to vote conditionally on the happening of an event
shall not be considered Voting Shares whether or not such event shall have&nbsp;happened. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Wholly Owned Subsidiary</B></FONT><FONT SIZE=2>" means a Subsidiary of which all the Equity Interests are owned by the Company or another Wholly Owned Subsidiary
of the Company, other than directors' qualifying shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Yield to Maturity</B></FONT><FONT SIZE=2>" means the yield to maturity, computed at the time of issuance of a Security (or, if applicable, at the most recent
redetermination of interest on such Security) and as set forth in such Security in accordance with generally accepted United&nbsp;States bond yield computation principles. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 102.&nbsp;&nbsp;&nbsp;&nbsp;Compliance Certificates and Opinions.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee,
to the extent required by the Trust Indenture Act, an Officers' Certificate stating that all conditions precedent, if any, provided for in this Indenture (including any covenant compliance with which
constitutes a condition precedent) relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any,
have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to
such particular application or request, no additional certificate or opinion need be&nbsp;furnished. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every
certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section&nbsp;1004) shall&nbsp;include: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;a
statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion
are&nbsp;based; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;a
statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been complied with;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;a
statement as to whether, in the opinion of each such individual, such covenant or condition has been complied&nbsp;with. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>13</FONT></P>

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<A NAME="page_de3742_1_14"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 103.&nbsp;&nbsp;&nbsp;&nbsp;Form of Documents Delivered to Trustee.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be
certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some
matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless
such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the
Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are&nbsp;erroneous. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
certificate or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of, or representations by,
an accountant or firm of accountants in the employ of the Company, unless such officer or counsel, as the case may be, knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to the accounting matters upon which such certificate or opinion may be based are erroneous. Any certificate or opinion of any independent firm of public
accountants filed with the Trustees shall contain a statement that such firm is&nbsp;independent. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they
may, but need not, be consolidated and form one&nbsp;instrument. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 104.&nbsp;&nbsp;&nbsp;&nbsp;Acts of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Any
request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders of the Outstanding
Securities of all series or one or more series, as the case may be, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by
agents duly appointed in writing. If Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Holders of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in
person or by proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of Article Fifteen, or a combination of
such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the
Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and&nbsp;the action embodied therein and evidenced thereby) are herein
sometimes referred to as the "Act" of the Holders signing such instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such
agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section&nbsp;1506. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_15"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where
such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of authority. The fact and date of the
execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The
principal amount and serial numbers of Registered Securities held by any Person, and the date of holding the same, shall be proved by the Security Register. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;The
principal amount and serial numbers of Bearer Securities held by any Person, and the date of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary, wherever situated, if such certificate shall be deemed by the Trustee to be
satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by
the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that
such ownership of any Bearer Security continues until (1)&nbsp;another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2)&nbsp;such
Bearer Security is produced to the Trustee by some other Person, or (3)&nbsp;such Bearer Security is surrendered in exchange for a Registered Security, or (4)&nbsp;such Bearer Security is no
longer Outstanding. The principal amount and serial numbers of Bearer Securities held by any Person, and the date of holding the same, may also be proved in any other manner that the Trustee deems
sufficient. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;If
the Company shall solicit from the Holders of Registered Securities any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company
may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section&nbsp;316(c), such record date shall be the record date specified in or pursuant to such
Board Resolution, which shall be a date not earlier than the date 30&nbsp;days prior to the first solicitation of Holders generally in connection therewith and not later than the date such
solicitation is completed. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only
the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities
have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of
such record date; <U>provided</U> that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than eleven months after the record&nbsp;date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_16"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and
the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or
the Company in reliance thereon, whether or not notation of such action is made upon such&nbsp;Security. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 105.&nbsp;&nbsp;&nbsp;&nbsp;Notices, etc. to Trustee and Company.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other documents provided or permitted by this Indenture to be made
upon, given or furnished to, or filed&nbsp;with, </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its
Corporate Trust Office, Attention: Global Finance Americas Unit,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company, facsimile: (403)&nbsp;269-6200, Attention: Senior Vice President and General Counsel, addressed to it at the address of its principal office
specified in the first paragraph of this Indenture or at any other address previously furnished in writing to the Trustee by the&nbsp;Company. </FONT></P>

<P><FONT SIZE=2><B> SECTION 106.&nbsp;&nbsp;&nbsp;&nbsp;Notice to Holders; Waiver.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where this Indenture provides for notice of any event to Holders of Registered Securities by the Company or the Trustee, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at his address as it appears in the Security Register,
not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders of Registered Securities is given by mail, neither
the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or
the sufficiency of any notice to Holders of Bearer Securities given as provided. Any notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by
such Holder, whether or not such Holder actually receives such&nbsp;notice. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case, by reason of the suspension of or irregularities in regular mail service or by reason of any other cause, it shall be impractical to mail notice of any event to Holders of
Registered Securities when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be
deemed to be sufficient giving of such notice for every purpose hereunder. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_de3742_1_17"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise expressly provided herein or otherwise specified with respect to any Securities pursuant to Section&nbsp;301, where this Indenture provides for notice to Holders of
Bearer Securities of any event, such notice shall be sufficiently given to Holders of Bearer Securities if published in an Authorized Newspaper in The City of New&nbsp;York and in such other city or
cities as may be specified in such Securities on a Business Day at least twice, the first such publication to be not earlier than the earliest date, and not later than the latest date, prescribed for
the giving of such notice. Any such notice shall be deemed to have been given on the date of the first such publication. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case, by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause, it shall be impracticable to publish any notice
to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such
Holders for every purpose hereunder. Neither the failure to give notice by publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the
sufficiency of such notice with respect to other Holders of Bearer Securities or the sufficiency of any notice to Holders of Registered Securities given as provided herein. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
request, demand, authorization, direction, notice, consent or waiver required or permitted under this Indenture shall be in the English language, except that any published notice may
be in an official language of the country of&nbsp;publication. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such&nbsp;waiver. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 107.&nbsp;&nbsp;&nbsp;&nbsp;Effect of Headings and Table of Contents.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 108.&nbsp;&nbsp;&nbsp;&nbsp;Successors and Assigns.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or&nbsp;not. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 109.&nbsp;&nbsp;&nbsp;&nbsp;Separability Clause.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case any provision in this Indenture or in any Security or coupon shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_de3742_1_18"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 110.&nbsp;&nbsp;&nbsp;&nbsp;Benefits of Indenture.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing in this Indenture or in the Securities or coupons, express or implied, shall give to any Person, other than the parties hereto, any Authenticating Agent,
any Paying Agent, any Securities Registrar and their successors hereunder and the Holders of Securities or coupons, any benefit or any legal or equitable right, remedy or claim under
this&nbsp;Indenture. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 111.&nbsp;&nbsp;&nbsp;&nbsp;Governing Law.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture and the Securities and coupons shall be governed by and construed in accordance with the law of the State of New&nbsp;York without regard to
principles of conflicts of laws. This Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of this Indenture and shall, to the extent applicable, be governed
by such provisions. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 112.&nbsp;&nbsp;&nbsp;&nbsp;Legal Holidays.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any case where any Interest Payment Date, Redemption Date, sinking fund payment date or Stated Maturity or Maturity of any Security shall not be a Business Day
at any Place of Payment, then (notwithstanding any other provision of this Indenture or of any Security or coupon other than a provision in the Securities of any series which specifically states that
such provision shall apply in lieu of this Section), payment of principal (or&nbsp;premium, if any) or interest, if any, need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date or sinking fund payment date, or at the Stated
Maturity or Maturity; <U>provided</U> that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date, sinking fund payment date, Stated
Maturity or Maturity, as the case may&nbsp;be. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 113.&nbsp;&nbsp;&nbsp;&nbsp;Agent for Service; Submission to Jurisdiction; Waiver of Immunities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By the execution and delivery of this Indenture, the Company (i)&nbsp;acknowledges that it has irrevocably designated and appointed CT Corporation System, 111
8<SUP>th</SUP>&nbsp;Avenue, 13<SUP>th</SUP>&nbsp;Floor, New&nbsp;York, New&nbsp;York, 10011&nbsp;as its authorized agent upon which process may be served in any suit or proceeding
arising out of or relating to the Securities or this Indenture that may be instituted in any United&nbsp;States federal or New&nbsp;York State court in the Borough of Manhattan in the City of
New&nbsp;York or brought under federal or state securities laws or brought by the Trustee (whether in its individual capacity or in its capacity as Trustee hereunder), (ii)&nbsp;submits to the
non-exclusive jurisdiction of any such court in any such suit or proceeding, and (iii)&nbsp;agrees that service of process upon CT Corporation System and written notice of said service
to the Company (mailed or delivered to the Company, attention: Senior Vice President and General Counsel, at its principal office specified in the first paragraph of this Indenture and in the manner
specified in Section&nbsp;105 hereof), shall be deemed in every respect effective service of process upon the Company in any such suit or proceeding. The Company further agrees to take any and all
action, including the execution and filing of any and all such documents and
instruments, as may be necessary to continue such designation and appointment of CT Corporation System in full force and effect so long as any of the Securities shall be&nbsp;outstanding. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=18,SEQ=27,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="5",CHK=809211,FOLIO='18',FILE='DISK127:[07ZAE2.07ZAE3742]DE3742B.;3',USER='ATOBAK',CD='15-FEB-2007;01:47' -->
<A NAME="page_de3742_1_19"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent that the Company has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to
judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property, the Company hereby irrevocably waives such immunity in respect of its obligations under this
Indenture and the Securities, to the extent permitted by&nbsp;law. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Indenture or the Securities in any federal or state court in the State of New&nbsp;York, Borough of Manhattan. Each of the
parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such&nbsp;court. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 114.&nbsp;&nbsp;&nbsp;&nbsp;Conversion of Currency.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The
Company covenants and agrees that the following provisions shall apply to conversion of currency in the case of the Securities and this&nbsp;Indenture: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;If
for the purposes of obtaining judgment in, or enforcing the judgment of, any court in any country, it becomes necessary to convert into any other currency
(the&nbsp;"</FONT><FONT SIZE=2><B>Judgment Currency</B></FONT><FONT SIZE=2>") an amount due or contingently due under the Securities of any series and this Indenture
(the&nbsp;"</FONT><FONT SIZE=2><B>Required Currency</B></FONT><FONT SIZE=2>"), then the conversion shall be made at the rate of exchange prevailing on the Business Day before the day on which a
final judgment which is not appealable or is not appealed is given or the order of enforcement is made, as the case may be (unless a court shall otherwise determine). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;If
there is a change in the rate of exchange prevailing between the Business Day before the day on which the judgment referred to in (i)&nbsp;above is given or an
order of enforcement is made, as the case may be (or&nbsp;such other date as a court shall determine), and the date of receipt of the amount due, the Company shall pay such additional (or, as the
case may be, such lesser) amount, if any, as may be necessary so that the amount paid in the Judgment Currency when converted at the rate of exchange prevailing on the date of receipt will produce the
amount in the Required Currency originally&nbsp;due. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;In
the event of the winding-up of the Company at any time while any amount or damages owing under the Securities and this Indenture, or any judgment or order
rendered in respect thereof, shall remain outstanding, the Company shall indemnify and hold the Holders and the Trustee harmless against any deficiency arising or resulting from any variation in rates
of exchange between (1)&nbsp;the date as of which the equivalent of the amount in the Required Currency (other than under this Subsection&nbsp;(b)) is calculated for the purposes of such
winding-up and (2)&nbsp;the final date for the filing of proofs of claim in such winding-up. For the purpose of this Subsection&nbsp;(b) the final date for the filing of
proofs of claim in the winding-up of the Company shall be the date fixed by the liquidator or otherwise in accordance with the relevant provisions of applicable law as being the latest
practicable date as at which liabilities of the Company may be ascertained for such winding-up prior to payment by the liquidator or otherwise in respect thereto. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The
obligations contained in Subsections&nbsp;(a)(ii) and&nbsp;(b) of this Section shall constitute separate and independent obligations of the Company from its
other obligations under the Securities and this Indenture, shall give rise to separate and independent causes of action against the Company, shall apply irrespective of any waiver or extension granted
by any Holder or Trustee from time to time and shall continue in full force and effect notwithstanding any judgment or order or the filing of any proof of claim in the winding-up of the
Company for a liquidated sum in respect of amounts due hereunder (other than under Subsection&nbsp;(b) above) or under any such judgment or order. Any such deficiency as aforesaid shall be deemed to
constitute a loss suffered by the Holders or the Trustee, as the case may be, and no proof or evidence of any actual loss shall be required by the Company or the applicable liquidator. In the case of
Subsection&nbsp;(b) above, the amount of such deficiency shall not be deemed to be reduced by any variation in rates of exchange occurring between the said final date and the date of any liquidating
distribution. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
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<A NAME="page_de3742_1_20"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;The
term "</FONT><FONT SIZE=2><B>rate(s) of exchange</B></FONT><FONT SIZE=2>" shall mean the Bank of Canada noon rate for purchases on the relevant date of the Required
Currency with the Judgment Currency, as reported by Telerate on screen 3194 (or&nbsp;such other means of reporting the Bank of Canada noon rate as may be agreed upon by each of the parties to this
Indenture) and includes any premiums and costs of exchange payable. </FONT></P>

<UL>


<P><FONT SIZE=2><B> SECTION 115.&nbsp;&nbsp;&nbsp;&nbsp;Currency Equivalent.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Indenture, for purposes of the construction of the terms of this Indenture or of the Securities, in the event that any amount
is stated herein in the Currency of one nation (the&nbsp;"</FONT><FONT SIZE=2><B>First Currency</B></FONT><FONT SIZE=2>"), as of any date such amount shall also be deemed to represent the amount in
the Currency of any other relevant nation which is required to purchase such amount in the First Currency at the Bank of Canada noon rate as reported by Telerate on screen 3194 (or&nbsp;such other
means of reporting the Bank of Canada noon rate as may be agreed upon by each of the parties to this Indenture) on the date of determination. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 116.&nbsp;&nbsp;&nbsp;&nbsp;Conflict with Trust Indenture Act.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If and to the extent that any provision hereof limits, qualifies or conflicts with the duties imposed by any of Sections&nbsp;310 to&nbsp;318, inclusive, of
the Trust Indenture Act, through operation of Section&nbsp;318(c) thereof, such imposed duties shall&nbsp;control. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION&nbsp;117.&nbsp;&nbsp;&nbsp;&nbsp;Incorporators, Shareholders, Officers and Directors of the Company Exempt from Individual Liability.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby,
shall be had against any incorporator, as such, or against any past, present or future shareholder, officer or director, as such, of the Company or of any successor, either directly or through the
Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability
being expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issue of the&nbsp;Securities. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 118.&nbsp;&nbsp;&nbsp;&nbsp;Security Interest.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where a series of Securities are secured by collateral pursuant to Section&nbsp;301 hereof, then to secure the due and punctual payment of all amounts at any
time owing under such series of Securities when and as the same shall be due and payable, whether on a regularly scheduled payment date, at maturity, by acceleration, redemption or otherwise, and the
performance of all other obligations of the Company to the Holders or the Trustee, the Company shall cause appropriate Collateral Documents to be executed and delivered concurrently with the issuance
of such series of Securities. Where Collateral Documents are executed and delivered concurrently with the issuance of a series of Securities, the Securities of each series, or the supplemental
indenture relating to such series, shall provide that a breach of the Collateral Documents shall constitute a Default, and after passage of time, an Event of Default, under the&nbsp;Indenture. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_de3742_1_21"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Holder, by its acceptance of such series of Securities, consents and agrees to the terms of each Collateral Document, as the same may be in effect or may be amended from time to
time in accordance with their terms, and authorizes and directs the Trustee to enter into any Collateral Document and to perform its obligations and to do or cause to be done all such actions and
things to assure and confirm to the Trustee the security interests contemplated by the Collateral Documents, as from time to time constituted, so as to render the same available for the benefit of the
Holders of such series of Securities secured thereby. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE TWO  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SECURITIES FORMS  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 201.&nbsp;&nbsp;&nbsp;&nbsp;Forms Generally.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registered Securities, if any, of each series and the Bearer Securities, if any, of each series and related coupons shall be in substantially the forms as
shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with
the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities or coupons, as evidenced by their execution of the Securities or coupons.
If the forms of Securities or coupons of any series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Senior Vice
President and General Counsel or the Vice President, Associate General Counsel and Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated
by Section&nbsp;303 for&nbsp;the authentication and delivery of such Securities or coupons. Any portion of the text of any Security may be set forth on the reverse thereof, with an appropriate
reference thereto on the face of the&nbsp;Security. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified as contemplated by Section&nbsp;301, Securities in bearer form shall have interest coupons attached. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee's certificate of authentication on all Securities shall be in substantially the form set forth in this&nbsp;Article. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
definitive Securities and coupons shall be printed, lithographed or engraved on steel-engraved borders or may be produced in any other manner, all as determined by the officers of
the Company executing such Securities, as evidenced by their execution of such Securities or&nbsp;coupons. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2><A
NAME="page_dg3742_1_22"> </A> </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 202.&nbsp;&nbsp;&nbsp;&nbsp;Form of Trustee's Certificate of Authentication.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;611, the Trustee's certificate of authentication shall be in substantially the following&nbsp;form: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TRUSTEE'S
CERTIFICATE OF AUTHENTICATION </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is one of the Securities of the series designated therein referred to in, and issued under, the within-mentioned Indenture. </FONT></P>

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<TD WIDTH="40%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>THE BANK OF NEW YORK,<BR>
as Trustee</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="54%"><BR><HR NOSHADE><FONT SIZE=2> Authorized Signatory</FONT></TD>
</TR>
</TABLE>
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<UL>

<P><FONT SIZE=2><B> SECTION 203.&nbsp;&nbsp;&nbsp;&nbsp;Securities Issuable in Global Form.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of or within a series are issuable in global form, as specified or as contemplated by Section&nbsp;301, then, notwithstanding clause&nbsp;(8) of
Section&nbsp;301, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of
Outstanding Securities of such series from time to time endorsed thereon and that the aggregate amount of Outstanding Securities of such series represented thereby may from time to time be increased
or decreased to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be
made by the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to
Section&nbsp;303 or Section&nbsp;304. Subject to the provisions of Section&nbsp;303 and, if applicable, Section&nbsp;304, the Trustee shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section&nbsp;303 or
Section&nbsp;304 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but
need not comply with Section&nbsp;102 and&nbsp;need not be accompanied by an Opinion of&nbsp;Counsel. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of the last sentence of Section&nbsp;303 shall apply to any Security represented by a Security in global form if such Security was never issued and sold by the Company
and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section&nbsp;102 and&nbsp;need not be accompanied by an Opinion
of Counsel) with regard to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section&nbsp;303. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the provisions of Section&nbsp;307, unless otherwise specified as contemplated by Section&nbsp;301, payment of principal of (and&nbsp;premium, if any) and interest,
if any, on any Security in permanent global form shall be made to the Person or Persons specified therein. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_23"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the provisions of Section&nbsp;309 and&nbsp;except as provided in the preceding paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall
treat as the Holder of such principal amount of Outstanding Securities represented by a permanent global Security (i)&nbsp;in the case of a permanent global Security in registered form, the Holder
of such permanent global Security in registered form, or (ii)&nbsp;in the case of a permanent global Security in bearer form, Euroclear or&nbsp;Clearstream. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE THREE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> THE SECURITIES  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 301.&nbsp;&nbsp;&nbsp;&nbsp;Amount Unlimited; Issuable in Series.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is&nbsp;unlimited. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Securities may be issued in one or more series. There shall be established in one or more Board Resolutions or pursuant to authority granted by one or more Board Resolutions and,
subject to Section&nbsp;303, set forth in, or determined in the manner provided in, an Officers' Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series, any or all of the following, as applicable (each of which (except for the matters set forth in clauses&nbsp;(1), (2)&nbsp;and&nbsp;(17) below), if so provided, may be
determined from time to time by the Company with respect to unissued Securities of the series and set forth in such Securities of the series when issued from time to&nbsp;time): </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
title of the Securities of the series (which shall distinguish the Securities of the series from all other series of&nbsp;Securities); </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;any
limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section&nbsp;304, 305, 306, 906, 1107 or&nbsp;1305); </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;the
date or dates, or the method by which such date or dates will be determined or extended, on which the principal of the Securities of the series is&nbsp;payable; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;the
rate or rates (whether fixed or variable) at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall be
determined, the date or dates from which such interest shall accrue, or the method by which such date or dates shall be determined, the Interest Payment Dates on which such interest shall be payable
and the Regular Record Date, if any, for the interest payable on any Registered Security on any Interest Payment Date, or the method by which such date or dates shall be determined, whether and under
what circumstances Additional Amounts on such Securities or any of them shall be payable, the notice, if any, to Holders regarding the determination of interest on a floating rate Security and the
manner of giving such notice, and the basis upon which interest shall be calculated if other than on the basis of a 360-day year of twelve 30-day&nbsp;months; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_24"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;the
place or places, if any, other than or in addition to the Borough of Manhattan, The City of New&nbsp;York, where the principal of (and&nbsp;premium, if any) and
interest, if any, on Securities of the series shall be payable, where any Registered Securities of the series may be surrendered for registration of transfer, where Securities of the series may be
surrendered for exchange, where Securities of the series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable and, if different from the location specified
in Section&nbsp;105, the place or places where notices or demands to or upon the Company in respect of the Securities of the series and this Indenture may be served, the extent to which, or the
manners in which, any interest payment or Additional Amounts on a global Security on an Interest Payment Date, will be paid and the manner in which any principal of or premium, if any, on any global
Security will be&nbsp;paid; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;the
period or periods within which, the price or prices at which, the Currency in which, and other terms and conditions upon which Securities of the series may be
redeemed, in whole or in part, at the option of the Company, if the Company is to have that&nbsp;option; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;the
obligation, if any, of the Company to redeem, repay or purchase Securities of the series pursuant to any sinking fund or analogous provision or at the option of a
Holder thereof, and the period or periods within which, the price or prices at which, the Currency in which, and other terms and conditions upon which Securities of the series shall be redeemed,
repaid or purchased, in whole or in part, pursuant to such obligation; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;if
other than denominations of $1,000 and any integral multiple thereof, the denomination or denominations in which any Registered Securities of the series shall be
issuable and, if other than denominations of $5,000, the denomination or denominations in which any Bearer Securities of the series shall be&nbsp;issuable; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;if
other than the Trustee, the identity of each Security Registrar and/or Paying&nbsp;Agent; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;if
other than the principal amount thereof, the portion of the principal amount of Securities of the series that shall be payable upon declaration of acceleration of
the Maturity thereof pursuant to Section&nbsp;502 or&nbsp;the method by which such portion shall be&nbsp;determined; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;if
other than Dollars, the Currency in which payment of the principal of (or&nbsp;premium, if any) or interest, if any, on the Securities of the series shall be
payable or in which the Securities of the series shall be denominated and the particular provisions applicable thereto in accordance with, in addition to or in lieu of any of the provisions of
Section&nbsp;312; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;whether
the amount of payments of principal of (or&nbsp;premium, if any) or interest, if any, on the Securities of the series may be determined with reference to an
index, formula or other method (which index, formula or method may be based, without limitation, on one or more Currencies, commodities, equity indices or other indices), and the manner in which such
amounts shall be&nbsp;determined; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;whether
the principal of (or&nbsp;premium, if any) or interest, if any, on the Securities of the series are to be payable, at the election of the Company or a Holder
thereof, in a Currency other than that in which such Securities are denominated or stated to be payable, the period or periods within which (including the Election Date), and the terms and conditions
upon which, such election may be made, and the time and manner of determining the exchange rate between the Currency in which such Securities are denominated or stated to be payable and the Currency
in which such Securities are to be so payable, in each case in accordance with, in addition to or in lieu of any of the provisions of Section&nbsp;312; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;the
designation of the initial Exchange Rate Agent, if any; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;the
applicability, if any, of Sections&nbsp;1402 and/or&nbsp;1403 to the Securities of the series and any provisions in modification of, in addition to or in lieu
of any of the provisions of Article Fourteen that shall be applicable to the Securities of the&nbsp;series; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;provisions,
if any, granting special rights to the Holders of Securities of the series upon the occurrence of such events as may be&nbsp;specified; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17)&nbsp;any
deletions from, modifications of or additions to the Events of Default or covenants (including any deletions from, modifications of or additions to
Section&nbsp;1010) of the Company with respect to Securities of the series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set
forth&nbsp;herein; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18)&nbsp;whether
Securities of the series are to be issuable as Registered Securities, Bearer Securities (with or without coupons) or both, any restrictions applicable to the
offer, sale or delivery of Bearer Securities, whether any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are to be issuable in
permanent global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent global Security may exchange such interests for Securities of such series and of
like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section&nbsp;305, whether Registered
Securities of the series may be exchanged for Bearer Securities of the series (if&nbsp;permitted by applicable laws and regulations), whether Bearer Securities of the series may be exchanged for
Registered Securities of such series, and the circumstances under which and the place or places where any such exchanges may be made and if Securities of the series are to be issuable in global form,
the identity of any initial depository therefor; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19)&nbsp;the
date as of which any Bearer Securities of the series and any temporary global Security representing Outstanding Securities of the series shall be dated if other
than the date of original issuance of the first Security of the series to be&nbsp;issued; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>25</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)&nbsp;the
Person to whom any interest on any Registered Security of the series shall be payable, if other than the Person in whose name that Security (or&nbsp;one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, the manner in which, or the Person to whom, any interest on any Bearer Security of the
series shall be payable, if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest
payable on a temporary global Security on an Interest Payment Date will be paid if other than in the manner provided in Section&nbsp;304; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21)&nbsp;if
Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security of such series) only upon
receipt of certain certificates or other documents or satisfaction of other conditions, the form and/or terms of such certificates, documents or&nbsp;conditions; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22)&nbsp;if
the Securities of the series are to be issued upon the exercise of warrants, the time, manner and place for such Securities to be authenticated and&nbsp;delivered; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23)&nbsp;whether,
under what circumstances and the Currency in which the Company will pay Additional Amounts as contemplated by Section&nbsp;1005 on the Securities of the
series to any Holder who is not a United&nbsp;States person (including any modification to the definition of such term) in respect of any tax, assessment or governmental charge and, if so, whether
the Company will have the option to redeem such Securities rather than pay such Additional Amounts (and&nbsp;the terms of any such&nbsp;option); </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24)&nbsp;if
the Securities of the series are to be convertible into or exchangeable for any securities of any Person (including the Company), the terms and conditions upon which
such Securities will be so convertible or exchangeable; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25)&nbsp;if
payment of the Securities of the series will be guaranteed by any other&nbsp;Person; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26)&nbsp;whether
the Securities of the series will have the benefit of any Lien created under the Collateral Documents; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27)&nbsp;the
extent and manner, if any, in which payment on or in respect of the Securities of the series will be senior or will be subordinated to the prior payment of other
liabilities and obligations of the&nbsp;Company; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28)&nbsp;if
other than The Depository Trust Company, the Person designated as the Depositary with respect to the Securities of such&nbsp;series; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29)&nbsp;the
percentage or percentages of principal amount at which the Securities of the series will be&nbsp;issued; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30)&nbsp;any
applicable Canadian and U.S.&nbsp;federal income tax consequences; and </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
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<A NAME="page_dg3742_1_27"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31)&nbsp;any
other terms, conditions, rights and preferences (or&nbsp;limitations on such rights and preferences) relating to the series (which terms shall not be inconsistent
with the requirements of the Trust Indenture Act or the provisions of this Indenture). </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Securities of any one series and the coupons appertaining to any Bearer Securities of such series shall be substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution (subject to Section&nbsp;303) and&nbsp;set forth in such Officers' Certificate or in any such indenture
supplemental hereto. Not all Securities of any one series need be issued at the same time, and, unless otherwise provided, a series may be reopened for issuances of additional Securities of
such&nbsp;series. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any of the terms of the series are established by action taken pursuant to one or more Board Resolutions, such Board Resolutions shall be delivered to the Trustee at or prior to the
delivery of the Officers' Certificate setting forth the terms of the&nbsp;series. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 302.&nbsp;&nbsp;&nbsp;&nbsp;Denominations.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section&nbsp;301. With respect to Securities of
any series denominated in Dollars, in the absence of any such provisions, the Registered Securities of such series, other than Registered Securities issued in global form (which may be of any
denomination), shall be issuable in denominations of $1,000 and any integral multiple thereof and the Bearer Securities of such series, other than the Bearer Securities issued in global form (which
may be of any denomination), shall be issuable in a denomination of&nbsp;$5,000. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 303.&nbsp;&nbsp;&nbsp;&nbsp;Execution, Authentication, Delivery and Dating.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities and any coupons appertaining thereto shall be executed on behalf of the Company by its President and Chief Executive Officer or its Chief Financial
Officer, together with any one of the Senior Vice President and General Counsel, the Vice President, Associate General Counsel and Secretary, the Vice President, Finance or any Vice President,
attested by its Senior Vice President and General Counsel or its Vice President, Associate General Counsel and Secretary. The signature of any of these officers on the Securities or coupons may be the
manual or facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the&nbsp;Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities
or coupons bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities or&nbsp;coupons. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series together with any coupon appertaining thereto,
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with such Company Order
shall authenticate and deliver such Securities; <U>provided</U>, <U>however</U>, that, in connection with its original issuance, no Bearer Security shall be
mailed or otherwise delivered to any location in the United&nbsp;States; and <U>provided further</U> that, unless otherwise specified with respect to any series of Securities
pursuant to Section&nbsp;301, a Bearer Security may be delivered in connection with its original issuance only if the Person entitled to receive such Bearer Security shall have furnished a
certificate in the form set forth in this Indenture, dated no earlier than 15&nbsp;days prior to the earlier of the date on which such Bearer Security is delivered and the date on which any
temporary Security first becomes exchangeable for such Bearer Security in accordance with the terms of such temporary Security and this Indenture. If any Security shall be represented by a permanent
global Bearer Security, then, for purposes of this Section and Section&nbsp;304, the notation of a beneficial owner's interest therein upon original issuance of such Security or upon exchange of a
portion of a temporary global Security shall be deemed to be delivery in connection with its original issuance of such beneficial owner's interest in such permanent global Security. Except as
permitted by Section&nbsp;306, the Trustee shall not authenticate and deliver any Bearer Security unless all appurtenant coupons for interest then matured have been detached and cancelled. If not
all of the Securities of any series are to be issued at one time and if the Board Resolution or supplemental indenture establishing such series shall so permit, such Company Order may set forth
procedures acceptable to the Trustee for the issuance of such Securities and determining terms of particular Securities of such series such as interest rate, stated maturity, date of issuance and date
from which interest shall&nbsp;accrue. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and
(subject to TIA Sections&nbsp;315(a) through&nbsp;315(d)) shall be fully protected in relying upon, an Opinion of Counsel stating: </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;that
the form or forms of such Securities and any coupons have been established in conformity with the provisions of this&nbsp;Indenture; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;that
the terms of such Securities and any coupons have been established in conformity with the provisions of this&nbsp;Indenture; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;that
such Securities, together with any coupons appertaining thereto, when completed by appropriate insertions and executed and delivered by the Company to the Trustee
for authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute the legal, valid and binding obligations of the Company, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency,
reorganization and other similar laws of general applicability relating to or affecting the enforcement of creditors' rights, to general equitable principles and to such other qualifications as such
counsel shall conclude do not materially affect the rights of Holders of such Securities and any&nbsp;coupons; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;that
all laws and requirements in respect of the execution and delivery by the Company of such Securities, any coupons and the supplemental indentures, if any, have been
complied with and that authentication and delivery of such Securities and any coupons and the execution and delivery of the supplemental indentures, if any, by the Trustee will not violate the terms
of the&nbsp;Indenture; </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_29"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;that
the Company has the corporate power to issue such Securities and any coupons, and has duly taken all necessary corporate action with respect to such
issuance;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;that
the issuance of such Securities and any coupons will not contravene the articles of incorporation or by-laws of the Company or result in any violation
of any of the terms or provisions of any law or regulation or of any indenture, mortgage or other agreement known to such Counsel by which the Company is&nbsp;bound. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the provisions of Section&nbsp;301 and&nbsp;of the preceding two paragraphs, if not all the Securities of any series are to be issued at one time, it shall not be
necessary to deliver the Officers' Certificate otherwise required pursuant to Section&nbsp;301 or&nbsp;the Company Order and Opinion of Counsel otherwise required pursuant to the preceding two
paragraphs prior to or at the time of issuance of each Security, but such documents shall be delivered prior to or at the time of issuance of the first Security of such&nbsp;series. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall not be required to authenticate and deliver any such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee's own rights, duties
or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the&nbsp;Trustee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Registered Security shall be dated the date of its authentication and each Bearer Security shall be dated as of the date specified as contemplated by Section&nbsp;301. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Security or coupon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of
authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section&nbsp;310 together with a written statement (which need not comply with Section&nbsp;102 and&nbsp;need not be accompanied by an Opinion of Counsel) stating that such Security has never
been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the
benefits of this&nbsp;Indenture. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 304.&nbsp;&nbsp;&nbsp;&nbsp;Temporary Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver,
temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu
of which they are issued, in registered form or, if authorized, in bearer form with one or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions and other
variations as conclusively the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. Such temporary Securities may be in
global&nbsp;form. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_30"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
in the case of temporary Securities in global form (which shall be exchanged in accordance with the provisions of the following paragraphs), if temporary Securities of any series
are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of
Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series (accompanied by any unmatured coupons appertaining
thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations;
<U>provided</U>, <U>however</U>, that no definitive Bearer Security shall be delivered in exchange for a temporary Registered Security; and
<U>provided further</U> that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in
Section&nbsp;303. Until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of
such&nbsp;series. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
temporary Securities of any series are issued in global form, any such temporary global Security shall, unless otherwise provided therein, be delivered to the London, England office
of a depositary or common depositary (the&nbsp;"Common Depositary"), for the benefit of Euroclear and Clearstream, for credit to the respective accounts of the beneficial owners of such Securities
(or&nbsp;to such other accounts as they may&nbsp;direct). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
unnecessary delay but in any event not later than the date specified in, or determined pursuant to the terms of, any such temporary global Security (the&nbsp;"Exchange Date"),
the Company shall deliver to the Trustee definitive Securities, in aggregate principal amount equal to the principal amount of such temporary global Security, executed by the Company. On or after the
Exchange Date such temporary global Security shall be surrendered by the Common Depositary to the Trustee, as the Company's agent for such purpose, to be exchanged, in whole or from time to time in
part, for definitive Securities without charge and the Trustee shall authenticate and deliver, in exchange for each portion of such temporary global Security, an equal aggregate principal amount of
definitive Securities of the same series of authorized denominations and of like tenor as the portion of such temporary global Security to be exchanged. The definitive Securities to be delivered in
exchange for any such temporary global Security shall be in bearer form, registered form, permanent global bearer form or permanent global registered form, or any combination thereof, as specified as
contemplated by Section&nbsp;301, and, if any combination thereof is so specified, as requested by the beneficial owner thereof; <U>provided</U>,
<U>however</U>, that, unless otherwise specified in such temporary global Security, upon such presentation by the Common Depositary, such temporary global Security is accompanied
by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear as to the portion of such temporary global Security held for its account then to be exchanged and a certificate
dated the Exchange Date or a subsequent date and signed by Clearstream as to the portion of such temporary global Security held for its account then to be exchanged, each in the form set forth in
Exhibit&nbsp;A-2 to&nbsp;this Indenture (or&nbsp;in such other form as may be established pursuant to Section&nbsp;301); and&nbsp;<U>provided further</U>
that definitive Bearer Securities shall be delivered in exchange for a portion of a temporary global Security only in compliance with the requirements of Section&nbsp;303. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_31"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified in such temporary global Security, the interest of a beneficial owner of Securities of a series in a temporary global Security shall be exchanged for
definitive Securities of the same series and of like tenor following the Exchange Date when the account holder instructs Euroclear or Clearstream, as the case may be, to request such exchange on his
behalf and delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in Exhibit&nbsp;A-1 to&nbsp;this Indenture (or&nbsp;in such other form as may
be established pursuant to Section&nbsp;301), dated no earlier than 15&nbsp;days prior to the Exchange Date, copies of which certificate shall be available from the offices of Euroclear and
Clearstream, the Trustee, any Authenticating Agent appointed for such series of Securities and each Paying Agent. Unless otherwise specified in such temporary global Security, any such exchange shall
be made free of charge to the beneficial owners of such temporary global Security, except that a Person receiving definitive Securities must bear the cost of insurance, postage, transportation and the
like in the event that such Person does not take delivery of such definitive Securities in person at the offices of Euroclear or Clearstream. Definitive Securities in bearer form to be delivered in
exchange for any portion of a temporary global Security shall be delivered only outside the United&nbsp;States. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
exchanged in full as hereinabove provided, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive
Securities of the same series and of like tenor authenticated and delivered hereunder, except that, unless otherwise specified as contemplated by Section&nbsp;301, interest payable on a temporary
global Security on an Interest Payment Date for Securities of such series occurring prior to the applicable Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment Date
upon delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates in the form set forth in Exhibit&nbsp;A-2 to&nbsp;this Indenture (or&nbsp;in such other
form as may be established pursuant to Section&nbsp;301), for credit without further interest thereon on or after such Interest Payment Date to the respective accounts of the Persons who are the
beneficial owners of such temporary global Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as the case may be, a certificate dated no earlier than
15&nbsp;days prior to the Interest Payment Date occurring prior to such Exchange Date in the form set forth in Exhibit&nbsp;A-1 to&nbsp;this Indenture (or&nbsp;in such other form
as may be established pursuant to Section&nbsp;301). Notwithstanding anything to the contrary herein contained, the certifications made pursuant to this paragraph shall satisfy the certification
requirements of the preceding two paragraphs of this Section and of the third paragraph of Section&nbsp;303 of this Indenture and the interests of the Persons who are the beneficial owners of the
temporary global Security with respect to which such certification was made will be exchanged for definitive Securities of the same series and of like tenor on the Exchange Date or the date of
certification if such date occurs after the Exchange Date, without further act or deed by such beneficial owners. Except as otherwise provided in this paragraph, no payments of principal
(or&nbsp;premium, if any) or interest, if any, owing with respect to a beneficial interest in a temporary global Security will be made unless and until such interest in such temporary global
Security shall have been exchanged for an interest in a definitive Security. Any interest so received by Euroclear and Clearstream and not paid as herein provided shall be returned to the Trustee
immediately prior to the expiration of two years after such Interest Payment Date in order to be repaid to the Company in accordance with Section&nbsp;1003. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_32"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 305.&nbsp;&nbsp;&nbsp;&nbsp;Registration, Registration of Transfer and Exchange.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register for each series of Securities (the&nbsp;registers maintained in the
Corporate Trust Office of the Trustee and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the "</FONT><FONT SIZE=2><B>Security
Register</B></FONT><FONT SIZE=2>") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Registered Securities and of transfers of
Registered Securities. The Security Register shall be in written form or any other form capable of being converted into written form within a reasonable time. At all reasonable times, the Security
Register shall be open to inspection by the Trustee. The Trustee is hereby initially appointed as security registrar (the&nbsp;"</FONT><FONT SIZE=2><B>Security Registrar</B></FONT><FONT SIZE=2>")
for the purpose of registering Registered Securities and transfers of Registered Securities as herein provided. The Company shall
have the right to remove and replace from time to time the Security Registrar for any series of Securities; <U>provided that</U>, no such removal or replacement shall be
effective until a successor Security Registrar with respect to such series of Registered Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In
the event that the Trustee shall not be or shall cease to be the Security registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at
all reasonable times. There shall be only one Security Register for such series of&nbsp;Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
surrender for registration of transfer of any Registered Security of any series at the office or agency in a Place of Payment for that series, the Company shall execute, and the
Trustee shall authenticate and deliver, in the name of the designated transferee, one or more new Registered Securities of the same series, of any authorized denominations and of a like aggregate
principal amount and&nbsp;tenor. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series, of any authorized denomination and of a like
aggregate principal amount and tenor, upon surrender of the Registered Securities to be exchanged at such office or agency. Whenever any Registered Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled to receive. Unless otherwise specified with respect to
any series of Securities as contemplated by Section&nbsp;301, Bearer Securities may not be issued in exchange for Registered Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
(but&nbsp;only if) expressly permitted in or pursuant to the applicable Board Resolution and (subject to Section&nbsp;303) set forth in the applicable Officers' Certificate, or in
any indenture supplemental hereto, delivered as contemplated by Section&nbsp;301, at the option of the Holder, Bearer Securities of any series may be exchanged for Registered Securities of the same
series of any authorized denomination and of a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all unmatured
coupons and all matured coupons in default thereto appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons in default,
any such permitted exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company in an amount equal to the face amount of such missing coupon or
coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of
them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of which such a payment shall have been made, such
Holder shall be entitled to receive the amount of such payment; <U>provided</U>, <U>however</U>, that, except as otherwise provided in Section&nbsp;1002,
interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or agency located outside the United&nbsp;States. Notwithstanding the foregoing,
in case a Bearer Security of any series is surrendered at any such office or agency in a permitted exchange for a Registered Security of the same series and like tenor after the close of business at
such office or agency on (i)&nbsp;any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii)&nbsp;any Special Record Date
and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to
such Interest Payment Date or proposed date for payment, as the case may be, and interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date
for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with
the provisions of this&nbsp;Indenture. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
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<A NAME="page_dg3742_1_33"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is
entitled to&nbsp;receive. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section&nbsp;301, any permanent global Security shall be exchangeable only as provided in this
paragraph. If any beneficial owner of an interest in a permanent global Security is entitled to exchange such interest for Securities of such series and of like tenor and principal amount of another
authorized form and denomination, as specified as contemplated by Section&nbsp;301 and&nbsp;provided that any applicable notice provided in the permanent global Security shall have been given,
then without unnecessary delay but in any event not later than the earliest date on which such interest may be so exchanged, the Company shall deliver to the Trustee definitive Securities in aggregate
principal amount equal to the principal amount of such beneficial owner's interest in such permanent global Security, executed by the Company. On or after the earliest date on which such interests may
be so exchanged, such permanent global Security shall be surrendered by the Common Depositary or such other depositary as shall be specified in the Company Order with respect thereto to the Trustee,
as the Company's agent for such purpose, to be exchanged, in whole or from time to time in part, for definitive Securities without charge, and the Trustee shall authenticate and deliver, in exchange
for each portion of such permanent global Security, an equal aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such
permanent global Security to be exchanged which, unless the Securities of the series are not issuable both as Bearer Securities and as Registered Securities, as specified as contemplated by
Section&nbsp;301, shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, as shall be specified by the beneficial owner thereof;
<U>provided</U>, <U>however</U>, that no such exchanges may occur during a period beginning at the opening of business 15&nbsp;days before any selection
of Securities to be redeemed and ending on the relevant Redemption Date if the Security for which exchange is requested may be among those selected for redemption; and
<U>provided</U>, <U>further</U>, that no Bearer Security delivered in exchange for a portion of a permanent global Security shall be mailed or otherwise
delivered to any location in the United&nbsp;States. If a Registered Security is issued in exchange for any portion of a permanent global Security after the close of business at the office or agency
where such exchange occurs on (i)&nbsp;any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii)&nbsp;any Special Record
Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be payable
on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment,
as the case may be, only to the Person to whom interest in respect of such portion of such permanent global Security is payable in accordance with the provisions of this&nbsp;Indenture. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>33</FONT></P>

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<A NAME="page_dg3742_1_34"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
at any time the Depositary for Securities of a series notifies the Company that it is unwilling, unable or no longer qualifies to continue as Depositary for Securities of such series
or if at any time the Depositary for Securities for such series shall no longer be registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or
regulation, the Company shall appoint a successor depositary with respect to the Securities for such series. If a successor to the Depositary for Securities is not appointed by the Company within
90&nbsp;days after the Company receives such notice or becomes aware of such condition, as the case may be, the Company's election pursuant to Section&nbsp;301 shall no longer be effective with
respect to the Securities for such series and the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series,
will authenticate and deliver Securities of such series in definitive registered form, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the global
Security or Securities representing such series in exchange for such global Security or&nbsp;Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may at any time and in its sole discretion determine that the Securities of any series issued in the form of one or more global Securities shall no longer be represented by
such global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver Securities of such series in definitive registered form, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the
global Security or Securities representing such series in exchange for such global Security or&nbsp;Securities. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the exchange of a global Security for Securities in definitive registered form, such global Security shall be cancelled by the Trustee. Securities issued in exchange for a global
Security pursuant to this Section shall be registered in such names and in such authorized denominations as the depositary for such global Security, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver such Securities to the persons in whose names such Securities are so&nbsp;registered. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same
benefits under this Indenture, as the Securities surrendered upon such registration of transfer or&nbsp;exchange. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>34</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dg3742_1_35"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every
Registered Security presented or surrendered for registration of transfer or for exchange shall (if&nbsp;so required by the Company or the Security Registrar) be duly endorsed,
or be accompanied by a written instrument of transfer, in form satisfactory to the Company and the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized
in&nbsp;writing. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section&nbsp;304, 906, 1107 or&nbsp;1305 not involving
any&nbsp;transfer. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall not be required (i)&nbsp;to issue, register the transfer of or exchange Securities of any series during a period beginning at the opening of business 15&nbsp;days
before the day of the selection for redemption of Securities of that series under Section&nbsp;1103 or&nbsp;1203 and ending at the close of business on (A)&nbsp;if Securities of the series are
issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B)&nbsp;if Securities of the series are issuable as Bearer Securities, the day of the first
publication of the relevant notice of redemption or, if Securities of the series are also issuable as Registered Securities and there is no publication, the mailing of the relevant notice of
redemption, or (ii)&nbsp;to register the transfer of or exchange any Registered Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed
in part, or (iii)&nbsp;to exchange any Bearer Security so selected for redemption except that such a Bearer Security may be exchanged for a Registered Security of that series and like tenor;
<U>provided</U> that such Registered Security shall be immediately surrendered for redemption, or (iv)&nbsp;to issue, register the transfer of or exchange any Security which
has been surrendered for repayment at the option of the Holder, except the portion, if any, of such Security not to be so&nbsp;repaid. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 306.&nbsp;&nbsp;&nbsp;&nbsp;Mutilated, Destroyed, Lost and Stolen Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any mutilated Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with coupons
corresponding to the coupons, if any, appertaining to the surrendered Security, or, in case any such mutilated Security or coupon has become or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, with coupons corresponding to the coupons, if any, appertaining to the surrendered Security, pay such Security or&nbsp;coupon. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
there shall be delivered to the Company and to the Trustee (i)&nbsp;evidence to their satisfaction of the destruction, loss or theft of any Security or coupon and (ii)&nbsp;such
security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or
coupon has been acquired by a protected purchaser (as&nbsp;defined in Article&nbsp;8 of the UCC), the Company shall execute and upon Company Order the Trustee shall authenticate and deliver, in
lieu of any such destroyed, lost or stolen Security or in exchange for the Security for which a destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or
stolen), a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any,
appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon appertains. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>35</FONT></P>

<HR NOSHADE>
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<A NAME="page_dg3742_1_36"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security or coupon has become or is about to become due and payable,
the Company in its discretion may, instead of issuing a new Security, with coupons corresponding to the coupons, if any, appertaining to such mutilated, destroyed, lost or stolen Security or to the
Security to which such mutilated, destroyed, lost or stolen coupon appertains, pay such Security or coupon; <U>provided</U>, <U>however</U>, that payment of
principal of (and&nbsp;premium, if any) and interest, if any, on Bearer Securities shall, except as otherwise provided in Section&nbsp;1002, be payable only at an office or agency located outside
the United&nbsp;States and, unless otherwise specified as contemplated by Section&nbsp;301, any interest on Bearer Securities shall be payable only upon presentation and surrender of the coupons
appertaining thereto. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every
new Security of any series with its coupons, if any, issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security or in exchange for a Security to
which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen
Security and its coupons, if any, or the mutilated, destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that series and their coupons, if any, duly issued hereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this Section, as amended or supplemented pursuant to this Indenture with respect to particular Securities or generally, are exclusive and shall preclude (to&nbsp;the
extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or&nbsp;coupons. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 307.&nbsp;&nbsp;&nbsp;&nbsp;Payment of Principal and Interest; Interest Rights Preserved; Optional Interest&nbsp;Reset.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Unless
otherwise provided as contemplated by Section&nbsp;301 with respect to any series of Securities, interest, if any, on any Registered Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or&nbsp;one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section&nbsp;1002;
<U>provided</U>, <U>however</U>, that each installment of the principal of (and&nbsp;premium, if any) and interest, if any, on any Registered Security may
at the Company's option be paid by (i)&nbsp;mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section&nbsp;309, to the address of
such Person as it appears on the Security Register or (ii)&nbsp;wire transfer to an account of the person entitled to receive such payment if such person is a Holder of $1,000,000 or more in
aggregate principal amount of the Securities of such series (with wire transfer instructions provided to the Trustee not less than 15&nbsp;days prior to payment of interest by wire transfer);
<U>provided further</U>, that principal paid in relation to any Security redeemed at the option of the Company pursuant to Article Eleven, or paid at Maturity, shall be paid to
the holder of such Security only upon presentation and surrender of such Security to such office or agency referred to in this Section&nbsp;307(a). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>36</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise provided as contemplated by Section&nbsp;301 with respect to the Securities of any series, payment of interest, if any, may be made, in the case of a Bearer Security,
by transfer to an account located outside the United&nbsp;States maintained by the&nbsp;payee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise provided as contemplated by Section&nbsp;301, every permanent global Security will provide that interest, if any, payable on any Interest Payment Date will be paid to
each of Euroclear and Clearstream with respect to that portion of such permanent global Security held for its account by the Common Depositary, for the purpose of permitting each of Euroclear and
Clearstream to credit the interest, if any, received by it in respect of such permanent global Security to the accounts of the beneficial owners&nbsp;thereof. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
interest on any Registered Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable
to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such defaulted interest and, if applicable, interest on such defaulted interest (to&nbsp;the extent
lawful) at the rate specified in the Securities of such series (such defaulted interest and, if applicable, interest thereon herein collectively called "</FONT><FONT SIZE=2><B>Defaulted
Interest</B></FONT><FONT SIZE=2>") may be paid by the Company, at its election in each case, as provided in clause&nbsp;(1) or&nbsp;(2) below: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Registered Securities of such series (or&nbsp;their respective
Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for&nbsp;the
Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) equal to the aggregate amount proposed to be paid in respect of such Defaulted
Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than
15&nbsp;days and not less than 10&nbsp;days prior to the date of the proposed payment and not less than 10&nbsp;days after the receipt by the Trustee of the notice of the proposed payment. The
Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be given in the manner provided in Section&nbsp;106, not less than 10&nbsp;days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in whose name the Registered Securities of such series (or&nbsp;their
respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause&nbsp;(2). </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>37</FONT></P>

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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;The
Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of
any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the&nbsp;Trustee. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
provisions of this Section&nbsp;307(b) may be made applicable to any series of Securities pursuant to Section&nbsp;301 (with such modifications, additions or
substitutions as may be specified pursuant to such Section&nbsp;301). The interest rate (or&nbsp;the spread or spread multiplier used to calculate such interest rate, if applicable) on any
Security of such series may be reset by the Company on the date or dates specified on the face of such Security (each an "</FONT><FONT SIZE=2><B>Optional Reset Date</B></FONT><FONT SIZE=2>"). The
Company may exercise such option with respect to such Security by notifying the Trustee of such exercise at least 50&nbsp;but not more than 60&nbsp;days prior to an Optional Reset Date for such
Note. Not later than 40&nbsp;days prior to each Optional Reset Date, the Trustee shall transmit, in the manner provided for in Section&nbsp;106, to the Holder of any such Security a notice
(the&nbsp;"</FONT><FONT SIZE=2><B>Reset Notice</B></FONT><FONT SIZE=2>") indicating whether the Company has elected to reset the interest rate (or&nbsp;the spread or spread multiplier used to
calculate such interest rate, if applicable), and if so (i)&nbsp;such new interest rate (or&nbsp;such new spread or spread multiplier, if applicable) and (ii)&nbsp;the provisions, if any, for
redemption during the period from such Optional Reset Date to the next Optional Reset Date or if there is no such next Optional Reset Date, to the Stated Maturity Date of such Security (each such
period a "</FONT><FONT SIZE=2><B>Subsequent Interest Period</B></FONT><FONT SIZE=2>"), including the date or dates on which or the period or periods during which and the price or prices at which such
redemption may occur during the Subsequent Interest Period. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, not later than 20&nbsp;days prior to the Optional Reset Date, the Company may, at its option, revoke the interest rate (or&nbsp;the spread or spread
multiplier used to calculate such interest rate, if applicable) provided for in the Reset Notice and establish an interest rate (or&nbsp;a spread or spread multiplier used to calculate such interest
rate, if applicable) that is higher than the interest rate (or&nbsp;the spread or spread multiplier, if applicable) provided for in the Reset Notice, for the Subsequent Interest Period by causing
the Trustee to transmit, in the manner provided for in Section&nbsp;106, notice of such higher interest rate (or&nbsp;such higher spread or spread multiplier, if applicable) to the Holder of such
Security. Such notice shall be irrevocable. All Securities with respect to which the interest rate (or&nbsp;the spread or spread multiplier used to calculate such interest rate, if applicable) is
reset on an Optional Reset Date, and with respect to which the Holders of such Securities have not tendered such Securities for repayment (or&nbsp;have validly revoked any such tender) pursuant to
the next succeeding paragraph, will bear such higher interest rate (or&nbsp;such higher spread or spread multiplier, if&nbsp;applicable). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Holder of any such Security will have the option to elect repayment by the Company of the principal of such Security on each Optional Reset Date at a price equal to the principal
amount thereof plus interest accrued to such Optional Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder must follow the procedures set forth in Article Thirteen for
repayment at the option of Holders except that the period for delivery or notification to the Trustee shall be at least 25&nbsp;but not more than 35&nbsp;days prior to such Optional Reset Date and
except that, if the Holder has tendered any Security for repayment pursuant to the Reset Notice, the Holder may, by written notice to the Trustee, revoke such tender or repayment until the close of
business on the tenth day before such Optional Reset&nbsp;Date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>38</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the foregoing provisions of this Section and Section&nbsp;305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other&nbsp;Security. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 308.&nbsp;&nbsp;&nbsp;&nbsp;Optional Extension of Stated Maturity.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section&nbsp;308 may be made applicable to any series of Securities pursuant to Section&nbsp;301 (with such modifications, additions or
substitutions as may be specified pursuant to such Section&nbsp;301). The Stated Maturity of any Security of such series may be extended at the option of the Company for the period or periods
specified on the face of such Security (each an "</FONT><FONT SIZE=2><B>Extension Period</B></FONT><FONT SIZE=2>") up to but not beyond the date (the&nbsp;"</FONT><FONT SIZE=2><B>Final
Maturity</B></FONT><FONT SIZE=2>") set forth on the face of such Security. The Company may exercise such option with respect to any Security by notifying the Trustee of such exercise at least
50&nbsp;but not more than 60&nbsp;days prior to the Stated Maturity of such Security in effect prior to the exercise of such option (the&nbsp;"</FONT><FONT SIZE=2><B>Original Stated
Maturity</B></FONT><FONT SIZE=2>"). If the Company exercises such option, the Trustee shall transmit, in the manner provided for in Section&nbsp;106, to the Holder of such Security not later than
40&nbsp;days prior to the Original Stated Maturity a notice (the&nbsp;"</FONT><FONT SIZE=2><B>Extension Notice</B></FONT><FONT SIZE=2>") indicating (i)&nbsp;the election of the Company to
extend the Stated Maturity, (ii)&nbsp;the new Stated Maturity, (iii)&nbsp;the interest rate, if any, applicable to the Extension Period and (iv)&nbsp;the provisions, if any, for redemption
during such Extension Period. Upon the Trustee's transmittal of the Extension Notice, the Stated Maturity of such Security shall be extended automatically and, except as modified by the Extension
Notice and as described in the next paragraph, such Security will have the same terms as prior to the transmittal of such Extension Notice. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, not later than 20&nbsp;days before the Original Stated Maturity of such Security, the Company may, at its option, revoke the interest rate provided for
in the Extension Notice and establish a higher interest rate for the Extension Period by causing the Trustee to transmit, in the manner provided for in Section&nbsp;106, notice of such higher
interest rate to the Holder of such Security. Such notice shall be irrevocable. All Securities with respect to which the Stated Maturity is extended will bear such higher interest&nbsp;rate. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company extends the Maturity of any Security, the Holder will have the option to elect repayment of such Security by the Company on the Original Stated Maturity at a price equal
to the principal amount thereof, plus interest accrued to such date. In order to obtain repayment on the Original Stated Maturity once the Company has extended the Maturity thereof, the Holder must
follow the procedures set forth in Article Thirteen for repayment at the option of Holders, except that the period for delivery or notification to the Trustee shall be at least 25&nbsp;but not more
than 35&nbsp;days prior to the Original Stated Maturity and except that, if the Holder has tendered any Security for repayment pursuant to an Extension Notice, the Holder may by written notice to
the Trustee revoke such tender for repayment until the close of business on the tenth day before the Original Stated Maturity. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>39</FONT></P>

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<UL>


<P><FONT SIZE=2><B> SECTION 309.&nbsp;&nbsp;&nbsp;&nbsp;Persons Deemed Owners.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name such Registered Security is registered as the owner of such Registered Security for the purpose of receiving payment of principal of (and&nbsp;premium, if any) and (subject to
Sections&nbsp;305 and&nbsp;307) interest, if any, on such Security and for all other purposes whatsoever (other than the payment of Additional Amounts, if any), whether or not such Security be
overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the&nbsp;contrary. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title
to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any
Bearer Security and the bearer of any coupon as the absolute owner of such Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever,
whether or not such Security or coupons be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the&nbsp;contrary. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Depositary for Securities may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such global Security for all purposes whatsoever
(other than the payment of Additional Amounts, if any). None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the
records relating to or payments made on account of beneficial ownership interests of a Security in global form or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, with respect to any global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the Company or the Trustee, from giving effect
to any written certification, proxy or other authorization furnished by any depositary, as a Holder, with respect to such global Security or impair, as between such depositary and owners of beneficial
interests in such global Security, the operation of customary practices governing the exercise of the rights of such depositary (or&nbsp;its nominee) as Holder of such global Security. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 310.&nbsp;&nbsp;&nbsp;&nbsp;Cancellation.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against
any current or future sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee. All Securities and coupons so delivered to the Trustee shall be
promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any
manner whatsoever, and may deliver to the Trustee (or&nbsp;to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has
not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a
redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of
or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of by the
Trustee in accordance with its customary procedures and certification of their disposal delivered to the Company unless by Company Order the Company shall direct that cancelled Securities be returned
to&nbsp;it. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>40</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 311.&nbsp;&nbsp;&nbsp;&nbsp;Computation of Interest.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as contemplated by Section&nbsp;301 with respect to any Securities, interest, if any, on the Securities of each series shall be
computed on the basis of a 360-day year of twelve 30-day months. For the purposes of disclosure under the </FONT><FONT SIZE=2><I>Interest Act</I></FONT><FONT SIZE=2> (Canada),
the yearly rate of interest to which interest calculated under a Security for any period in any calendar year (the&nbsp;"</FONT><FONT SIZE=2><B>calculation period</B></FONT><FONT SIZE=2>") is
equivalent, is the rate payable under a Security in respect of the calculation period multiplied by a fraction the numerator of which is the actual number of days in such calendar year and the
denominator of which is the actual number of days in the calculation period. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 312.&nbsp;&nbsp;&nbsp;&nbsp;Currency and Manner of Payments in Respect of Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;With
respect to Registered Securities of any series not permitting the election provided for in paragraph&nbsp;(b) below or the Holders of which have not made the
election provided for in paragraph&nbsp;(b) below, and&nbsp;with respect to Bearer Securities of any series, except as provided in paragraph&nbsp;(d) below, payment of the principal of
(and&nbsp;premium, if any) and interest, if any, on any Registered or Bearer Security of such series will be made in the Currency in which such Registered Security or Bearer Security, as the case
may be, is payable. The provisions of this Section&nbsp;312 may be modified or superseded with respect to any Securities pursuant to Section&nbsp;301. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;It
may be provided pursuant to Section&nbsp;301 with respect to Registered Securities of any series that Holders shall have the option, subject to
paragraphs&nbsp;(d) and&nbsp;(e) below, to receive payments of principal of (or&nbsp;premium, if any) or interest, if any, on such Registered Securities in any of the Currencies which may be
designated for such election by delivering to the Trustee a written election with signature guarantees and in the applicable form established pursuant to Section&nbsp;301, not later than the close
of business on the Election Date immediately preceding the applicable payment date. If a Holder so elects to receive such payments in any such Currency, such election will remain in effect for such
Holder or any transferee of such Holder until changed by such Holder or such transferee by written notice to the Trustee (but&nbsp;any such change must be made not later than the close of business
on the Election Date immediately preceding the next payment date to be effective for the payment to be made on such payment date and no such change of election may be made with respect to payments to
be made on any Registered Security of such series with respect to which an Event of Default has occurred or with respect to which the Company has deposited funds pursuant to Article Four or Fourteen
or with respect to which a notice of redemption has been given by the Company or a notice of option to elect repayment has been sent by such Holder or such transferee). Any Holder of any such
Registered Security who shall not have delivered any such election to the Trustee not later than the close of business on the applicable Election Date will be paid the amount due on the applicable
payment date in the relevant Currency as provided in Section&nbsp;312(a). The Trustee shall notify the Exchange Rate Agent as soon as practicable after the Election Date of the aggregate principal
amount of Registered Securities for which Holders have made such written election. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>41</FONT></P>

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<P><FONT SIZE=2><A
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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;Unless otherwise specified pursuant to Section&nbsp;301, if the election referred to in paragraph&nbsp;(b) above has been provided for pursuant to
Section&nbsp;301, then, unless otherwise specified pursuant to Section&nbsp;301, not later than the fourth Business Day after the Election Date for each payment date for Registered Securities of
any series, the Exchange Rate Agent will deliver to the Company a written notice specifying, in the Currency in which Registered Securities of such series are payable, the respective aggregate amounts
of principal of (and&nbsp;premium, if any) and interest, if any, on the Registered Securities to be paid on such payment date, specifying the amounts in such Currency so payable in respect of the
Registered Securities as to which the Holders of Registered Securities of such series shall have elected to be paid in another Currency as provided in paragraph&nbsp;(b) above. If the election
referred to in paragraph&nbsp;(b) above has been provided for pursuant to Section&nbsp;301 and&nbsp;if at least one Holder has made such election, then, unless otherwise specified pursuant to
Section&nbsp;301, on the second Business Day preceding such payment date the Company will deliver to the Trustee for such series of Registered Securities an Exchange Rate Officer's Certificate in
respect of the Dollar or Foreign Currency payments to be made on such payment date. Unless otherwise specified pursuant to Section&nbsp;301, the Dollar or Foreign Currency amount receivable by
Holders of Registered Securities who have elected payment in a Currency as provided in paragraph&nbsp;(b) above shall be determined by the Company on the basis of the applicable Market Exchange Rate
in effect on the third Business Day (the&nbsp;"</FONT><FONT SIZE=2><B>Valuation Date</B></FONT><FONT SIZE=2>") immediately preceding each payment date, and such determination shall be conclusive
and binding for all purposes, absent manifest&nbsp;error. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;If
a Conversion Event occurs with respect to a Foreign Currency in which any of the Securities are denominated or payable other than pursuant to an election provided for
pursuant to paragraph&nbsp;(b) above, then with respect to each date for the payment of principal of (and&nbsp;premium, if any) and interest, if any, on the applicable Securities denominated or
payable in such Foreign Currency occurring after the last date on which such Foreign Currency was used (the&nbsp;"</FONT><FONT SIZE=2><B>Conversion Date</B></FONT><FONT SIZE=2>"), the Dollar shall
be the Currency of payment for use on each such payment date. Unless otherwise specified pursuant to Section&nbsp;301, the Dollar amount to be paid by the Company to the Trustee and by the Trustee
or any Paying Agent to the Holders of such Securities with respect to such payment date shall be, in the case of a Foreign Currency other than a currency unit, the Dollar Equivalent of the Foreign
Currency or, in the case of a currency unit, the Dollar Equivalent of the Currency Unit, in each case as determined by the Exchange Rate Agent in the manner provided in paragraph&nbsp;(f)
or&nbsp;(g) below. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;Unless
otherwise specified pursuant to Section&nbsp;301, if the Holder of a Registered Security denominated in any Currency shall have elected to be paid in another
Currency as provided in paragraph&nbsp;(b) above, and&nbsp;a Conversion Event occurs with respect to such elected Currency, such Holder shall receive payment in the Currency in which payment would
have been made in the absence of such election; and if a Conversion Event occurs with respect to the Currency in which payment would have been made in the absence of such election, such Holder shall
receive payment in Dollars as provided in paragraph&nbsp;(d)&nbsp;above. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The
"</FONT><FONT SIZE=2><B>Dollar Equivalent of the Foreign Currency</B></FONT><FONT SIZE=2>" shall be determined by the Exchange Rate Agent and shall be obtained for
each subsequent payment date by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion&nbsp;Date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>42</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_43"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;The
"</FONT><FONT SIZE=2><B>Dollar Equivalent of the Currency Unit</B></FONT><FONT SIZE=2>" shall be determined by the Exchange Rate Agent and subject to the provisions
of paragraph&nbsp;(h) below shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component
Currency on the Valuation Date with respect to each&nbsp;payment. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;For
purposes of this Section&nbsp;312 the following terms shall have the following meanings: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
"</FONT><FONT SIZE=2><B>Component Currency</B></FONT><FONT SIZE=2>" shall mean any Currency which, on the Conversion Date, was a component currency of the relevant currency unit,
including, but not limited to, the&nbsp;Euro. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
"</FONT><FONT SIZE=2><B>Specified Amount</B></FONT><FONT SIZE=2>" of a Component Currency shall mean the number of units of such Component Currency or fractions thereof which were
represented in the relevant currency unit, including, but not limited to, the Euro, on the Conversion Date. If after the Conversion Date the official unit of any Component Currency is altered by way
of combination or subdivision, the Specified Amount of such Component Currency shall be divided or multiplied in the same proportion. If after the Conversion Date two or more Component Currencies are
consolidated into a single currency, the respective Specified Amounts of such Component Currencies shall be replaced by an amount in such single Currency equal to the sum of the respective Specified
Amounts of such consolidated Component Currencies expressed in such single Currency, and such amount shall thereafter be a Specified Amount and such single Currency shall thereafter be a Component
Currency. If after the Conversion Date any Component Currency shall be divided into two or more currencies, the Specified Amount of such Component Currency shall be replaced by amounts of such two or
more currencies, having an aggregate Dollar Equivalent value at the Market Exchange Rate on the date of such replacement equal to the Dollar Equivalent value of the Specified Amount of such former
Component Currency at the Market Exchange Rate immediately before such division and such amounts shall thereafter be Specified Amounts and such currencies shall thereafter be Component Currencies. If,
after the Conversion Date of the relevant currency unit, including, but not limited to, the Euro, a Conversion Event (other than any event referred to above in this definition of "Specified Amount")
occurs with respect to any Component Currency of such currency unit and is continuing on the applicable Valuation Date, the Specified Amount of such Component Currency shall, for purposes of
calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the Conversion Date of such Component Currency. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Election Date</B></FONT><FONT SIZE=2>" shall mean the date for any series of Registered Securities as specified pursuant to clause&nbsp;(13) of
Section&nbsp;301 by which the written election referred to in paragraph&nbsp;(b) above may be&nbsp;made. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of the Foreign Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange Rate
and changes in the Specified Amounts as specified above shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the
Company, the Trustee and all Holders of such Securities denominated or payable in the relevant Currency. The Exchange Rate Agent shall promptly give written notice to the Company and the Trustee of
any such decision or determination. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>43</FONT></P>

<HR NOSHADE>
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<A NAME="page_di3742_1_44"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the Company determines in good faith that a Conversion Event has occurred with respect to a Foreign Currency, the Company will immediately give written notice thereof
to the Trustee and to the Exchange Rate Agent (and&nbsp;the Trustee will promptly thereafter give notice in the manner provided for in Section&nbsp;106 to&nbsp;the affected Holders) specifying
the Conversion Date. In the event the Company so determines that a Conversion Event has occurred with respect to the Euro or any other currency unit in which Securities are denominated or payable, the
Company will immediately give written notice thereof to the Trustee and to the Exchange Rate Agent (and&nbsp;the Trustee will promptly thereafter give notice in the manner provided for in
Section&nbsp;106 to&nbsp;the affected Holders) specifying the Conversion Date and the Specified Amount of each Component Currency on the Conversion Date. In the event the Company determines in
good faith that any subsequent change in any Component Currency as set forth in the definition of Specified Amount above has occurred, the Company will similarly give written notice to the Trustee and
the Exchange Rate&nbsp;Agent. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall be fully justified and protected in relying and acting upon information received by it from the Company and the Exchange Rate Agent and shall not otherwise have any
duty or obligation to determine the accuracy or validity of such information independent of the Company or the Exchange Rate&nbsp;Agent. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 313.&nbsp;&nbsp;&nbsp;&nbsp;Appointment and Resignation of Successor Exchange Rate Agent.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;Unless
otherwise specified pursuant to Section&nbsp;301, if and&nbsp;so long as the Securities of any series&nbsp;(i) are denominated in a Foreign Currency or
(ii)&nbsp;may be payable in a Foreign Currency, or so long as it is required under any other provision of this Indenture, then the Company will maintain with respect to each such series of
Securities, or as so required, at least one Exchange Rate Agent. The Company will cause the Exchange Rate Agent to make the necessary foreign exchange determinations at the time and in the manner
specified pursuant to Section&nbsp;301 for&nbsp;the purpose of determining the applicable rate of exchange and, if applicable, for the purpose of converting the issued Currency into the applicable
payment Currency for the payment of principal (and&nbsp;premium, if any) and interest, if any, pursuant to Section&nbsp;312. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
Company shall have the right to remove and replace from time to time the Exchange Rate Agent for any series of Securities. No resignation of the Exchange Rate Agent
and no appointment of a successor Exchange Rate Agent pursuant to this Section shall become effective until the acceptance of appointment by the successor Exchange Rate Agent as evidenced by a written
instrument delivered to the Company and the&nbsp;Trustee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;If
the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Exchange Rate Agent for any cause
with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Exchange Rate Agent or Exchange Rate Agents with respect to
the Securities of that or those series (it&nbsp;being understood that any such successor Exchange Rate Agent may be appointed with respect to the Securities of one or more or all of such series and
that, unless otherwise specified pursuant to Section&nbsp;301, at any time there shall only be one Exchange Rate Agent with respect to the Securities of any particular series that are originally
issued by the Company on the same date and that are initially denominated and/or payable in the same&nbsp;Currency). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>44</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_45"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE FOUR  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SATISFACTION AND DISCHARGE  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 401.&nbsp;&nbsp;&nbsp;&nbsp;Satisfaction and Discharge of Indenture.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture shall upon Company Request cease to be of further effect with respect to any series of Securities specified in such Company Request (except as to
any surviving rights of registration of transfer or exchange of Securities of such series expressly provided for herein or pursuant hereto and any right to receive Additional Amounts as contemplated
by Section&nbsp;1005) and&nbsp;the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series&nbsp;when </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;either
</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;all
Securities of such series theretofore authenticated and delivered and all coupons, if any, appertaining thereto (other than (i)&nbsp;coupons appertaining to Bearer
Securities surrendered for exchange for Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section&nbsp;305,
(ii)&nbsp;Securities and coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section&nbsp;306, (iii)&nbsp;coupons appertaining to
Securities called for redemption and maturing after the relevant Redemption Date, whose surrender has been waived as provided in Section&nbsp;1106, and (iv)&nbsp;Securities and coupons of such
series for whose payment money has theretofore been deposited in trust with the Trustee or any Paying Agent or segregated and held in trust by the Company and thereafter repaid to the Company, as
provided in Section&nbsp;1003) have been delivered to the Trustee for cancellation;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;all
Securities of such series and, in the case of (i)&nbsp;or (ii)&nbsp;below, any coupons appertaining thereto not theretofore delivered to the Trustee for
cancellation </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;have
become due and payable, or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;will
become due and payable at their Stated Maturity within one year, or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;if
redeemable at the option of the Company, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the&nbsp;Company, </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>45</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_46"> </A>
<UL>
<UL>

<P><FONT SIZE=2>and
the Company, in the case of (i), (ii)&nbsp;or (iii)&nbsp;above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose an amount in the
Currency in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for
principal (and&nbsp;premium, if any) and interest, if any, to the date of such deposit (in&nbsp;the case of Securities which have become due and payable) or to the Stated Maturity or Redemption
Date, as the case may&nbsp;be; </FONT></P>

</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Company has paid or caused to be paid all other sums payable hereunder by the Company;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to
the satisfaction and discharge of this Indenture as to such series have been complied&nbsp;with. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section&nbsp;606, the obligations of the Company to any
Authenticating Agent under Section&nbsp;611 and, if money shall have been deposited with the Trustee pursuant to subclause&nbsp;(B) of clause&nbsp;(1) of this Section, the obligations of the
Trustee under Section&nbsp;402 and&nbsp;the last paragraph of Section&nbsp;1003 shall&nbsp;survive. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 402.&nbsp;&nbsp;&nbsp;&nbsp;Application of Trust Money.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the last paragraph of Section&nbsp;1003, all money deposited with the Trustee pursuant to Section&nbsp;401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities, the coupons and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and&nbsp;premium, if any) and interest, if any, for whose payment such money has been deposited
with the Trustee; but such money need not be segregated from other funds except to the extent required by&nbsp;law. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE FIVE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> REMEDIES  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 501.&nbsp;&nbsp;&nbsp;&nbsp;Events of Default.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT SIZE=2><B>Event of Default</B></FONT><FONT SIZE=2>", wherever used herein with respect to Securities of any series, means any one of the following
events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body), unless such event is specifically deleted or modified in or pursuant to a supplemental indenture, Board Resolution or
Officers' Certificate establishing the terms of such series pursuant to Section&nbsp;301 of this&nbsp;Indenture: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>46</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_47"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;default
in the payment of any interest on any Security of that series, or any related coupon, when such interest or coupon becomes due and payable, and continuance of
such default for a period of 30&nbsp;days;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;default
in the payment of the principal of (or&nbsp;premium, if any, on) any Security of that series at its Maturity;&nbsp;or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture in respect of the Securities of that series, and continuance of such
default or breach for a period of 90&nbsp;days after there has been given to the Company by the Trustee to the attention of the Senior Vice President and General Counsel to the Company via
facsimile, with a hard copy then sent, by registered or certified mail, or to the Company (in&nbsp;the same manner) and the Trustee by the Holders of at least 25% in principal amount of all
Outstanding Securities of any series affected thereby, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a "Notice of Default"
hereunder;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;if
an event of default (as&nbsp;defined in any indenture or instrument under which the Company or any Restricted Subsidiary has at the time of this Indenture or shall
thereafter have outstanding any Debt for borrowed money) shall happen and be continuing, or the Company or any Restricted Subsidiary shall have failed to pay principal amounts with respect to such
Debt at maturity (whether or not constituting an event of default) and such event of default or failure to pay shall result in Debt being declared due and payable or otherwise being accelerated, in
either event so that an amount in excess of the greater of $75,000,000 and 3.5% of Shareholders' Equity of the Company shall be or become due and payable upon such declaration or prior to the date on
which the same would otherwise have become due and payable (the&nbsp;"Accelerated Indebtedness"), and such acceleration shall not be rescinded or annulled, or such event of default or failure to pay
under such indenture or instrument shall not be remedied or cured, whether by payment or otherwise, or waived by the holders of such Accelerated Indebtedness, then (a)&nbsp;if the Accelerated
Indebtedness shall be as a result of an event of default which is not related to the failure to pay principal on the conditions set out in any such indenture or instrument, it shall not be considered
an Event of Default for purposes of this Indenture until 30&nbsp;days after such Debt has been accelerated, or (b)&nbsp;if the Accelerated Indebtedness shall occur as a result of such failure to
pay principal or as a result of an event of default which is related to the failure to pay principal on the conditions set out in any such indenture or instrument, then (i)&nbsp;if such Accelerated
Indebtedness is, by its terms, non-recourse to the borrower, it shall not be considered an Event of Default for purposes of this Indenture; or (ii)&nbsp;if such Accelerated Indebtedness
is recourse to the borrower, any requirement for the giving of notice or the lapse of time or the happening of any further condition, event or act under such other indenture or instrument in
connection with such failure to pay principal or event of default shall be applicable together with an additional seven days before being considered an Event of Default for purposes of this
Indenture;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;the
entry of a decree or order by a court having jurisdiction in the premises adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under the </FONT><FONT SIZE=2><I>Bankruptcy and Insolvency Act</I></FONT><FONT SIZE=2> (Canada), the </FONT> <FONT SIZE=2><I>Companies' Creditors
Arrangement Act</I></FONT><FONT SIZE=2> (Canada) or any other applicable insolvency law, or appointing a receiver, liquidator, assignee, trustee,
sequestrator (or&nbsp;other similar official) of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such
decree or order unstayed and in effect for a period of 90&nbsp;consecutive days;&nbsp;or </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>47</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_48"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;the
institution by the Company of proceedings to be adjudicated a bankrupt or insolvent, or the consent by it to the institution of bankruptcy or insolvency proceedings
against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under the </FONT><FONT SIZE=2><I>Bankruptcy and Insolvency Act</I></FONT><FONT SIZE=2> (Canada),
the </FONT><FONT SIZE=2><I>Companies' Creditors Arrangement Act</I></FONT><FONT SIZE=2> (Canada) or any other applicable insolvency law, or the consent by it to the filing of any such petition or to
the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or&nbsp;other similar official) of the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;any
other Event of Default provided with respect to Securities of that&nbsp;series. </FONT></P>

<P><FONT SIZE=2><B> SECTION 502.&nbsp;&nbsp;&nbsp;&nbsp;Acceleration of Maturity; Rescission and Annulment.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an Event of Default described in Section&nbsp;501 with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every
such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may, subject to any subordination provisions thereof, declare the principal
amount (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be specified in the terms of that series) of all
of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and&nbsp;to the Trustee if given by Holders), and upon any such declaration such principal
amount (or&nbsp;specified portion thereof) shall become immediately due and&nbsp;payable. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time after a declaration of acceleration with respect to Securities of any series (or&nbsp;of all series, as the case may be) has been made, but before a judgment or decree for
payment of the money due has been obtained by the Trustee as hereinafter provided in this Article, the Holders of a majority in principal amount of the Outstanding Securities of that series
(or&nbsp;of all series, as the case may be), by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences&nbsp;if </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
Company has paid or deposited with the Trustee a sum sufficient to pay in the Currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section&nbsp;301 for&nbsp;the Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;all
overdue interest, if any, on all Outstanding Securities of that series (or&nbsp;of all series, as the case may be) and any related coupons, </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>48</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_49"> </A>
<UL>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;all
unpaid principal of (and&nbsp;premium, if any) any Outstanding Securities of that series (or&nbsp;of all series, as the case may be) which has become due
otherwise than by such declaration of acceleration, and interest on such unpaid principal at the rate or rates prescribed therefor in such Securities, </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;to
the extent payment of such interest is lawful, interest on overdue interest, if any, at the rate or rates prescribed therefor in such Securities,&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel;&nbsp;and </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;all
Events of Default with respect to Securities of that series (or&nbsp;of all series, as the case may be), other than the non-payment of amounts of
principal of (or&nbsp;premium, if any, on) or interest on Securities of that series (or&nbsp;of all series, as the case may be) which have become due solely by such declaration of acceleration,
have been cured or waived as provided in Section&nbsp;513. </FONT></P>

</UL>

<P><FONT SIZE=2>No
such rescission shall affect any subsequent default or impair any right consequent thereon. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 503.&nbsp;&nbsp;&nbsp;&nbsp;Collection of Debt and Suits for Enforcement by Trustee.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants that if </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;default
is made in the payment of any installment of interest on any Security or any related coupon when such interest becomes due and payable and such default continues
for a period of 30&nbsp;days,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;default
is made in the payment of the principal of (or&nbsp;premium, if any, on) any Security at the Maturity thereof, </FONT></P>

</UL>

<P><FONT SIZE=2>then
the Company will, upon demand of the Trustee, pay to the Trustee for the benefit of the Holders of such Securities and coupons, the whole amount then due and payable on such Securities and
coupons for principal (and&nbsp;premium, if any) and interest, if any, and interest on any overdue principal (and&nbsp;premium, if any) and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and&nbsp;counsel. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>49</FONT></P>

<HR NOSHADE>
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<A NAME="page_di3742_1_50"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an Event of Default with respect to Securities of any series (or&nbsp;of all series, as the case may be) occurs and is continuing, the Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Securities of such series (or&nbsp;of all series, as the case may be) by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein,
or to enforce any other proper&nbsp;remedy. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 504.&nbsp;&nbsp;&nbsp;&nbsp;Trustee May File Proofs of Claim.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial
proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the
principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the
payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by intervention in such proceeding or&nbsp;otherwise, </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;to
file&nbsp;a proof of claim for the whole amount of principal (and&nbsp;premium, if any), or such portion of the principal amount of any series of Original Issue
Discount Securities or Indexed Securities as may be specified in the terms of such series, and interest, if any, owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel) and of the Holders allowed in such judicial proceeding,&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the&nbsp;same; </FONT></P>

</UL>

<P><FONT SIZE=2>and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;606. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 505.&nbsp;&nbsp;&nbsp;&nbsp;Trustee May Enforce Claims Without Possession of Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All rights of action and claims under this Indenture or the Securities or coupons may be prosecuted and enforced by the Trustee without the possession of any of
the Securities or coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Securities and coupons in respect of which such judgment has been&nbsp;recovered. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>50</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_51"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 506.&nbsp;&nbsp;&nbsp;&nbsp;Application of Money Collected.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the
distribution of such money on account of principal (or&nbsp;premium, if any) or interest, if any, upon presentation of the Securities or coupons, or both, as the case may be, and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully&nbsp;paid: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>First:</U>
To the payment of all amounts due the Trustee under Section&nbsp;606; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Second:</U>
To the payment of the amounts then due and unpaid for principal of (and&nbsp;premium, if any) and interest, if any, on the Securities and coupons
in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities and
coupons for principal (and&nbsp;premium, if any) and interest, if any, respectively;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third:</U>
The balance, if any, to the Person or Persons entitled thereto. </FONT></P>

<P><FONT SIZE=2><B> SECTION 507.&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Suits.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Holder of any Security of any series or any related coupons shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, the Securities of any series, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that&nbsp;series; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series (voting as one class) in the case of any Event of Default
described in Section&nbsp;501 shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;such
Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in
compliance with such&nbsp;request; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;the
Trustee for 60&nbsp;days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority or more in principal
amount of the Outstanding Securities of that series in the case of any Event of Default described in Section&nbsp;501; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>51</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_52"> </A>

<P><FONT SIZE=2>it
being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other Holders of Securities of the same series, in the case of any Event of Default described in Section&nbsp;501, or to&nbsp;obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all Holders of Securities of the
same series, in the case of any Event of Default described in Section&nbsp;501. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 508.&nbsp;&nbsp;&nbsp;&nbsp;Unconditional Right of Holders to Receive Principal, Premium and Interest.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment,
as provided herein (including, if applicable, Article Fourteen) and in such Security, of the principal of (and&nbsp;premium, if any) and (subject to Section&nbsp;307) interest, if any, on, such
Security or payment of such coupon on the respective Stated Maturities expressed in such Security or coupon (or, in the case of redemption, on the Redemption Date) and to institute suit for the
enforcement of any such payment, and such rights shall not be impaired without the consent of such&nbsp;Holder. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 509.&nbsp;&nbsp;&nbsp;&nbsp;Restoration of Rights and Remedies.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or
abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and
the Holders of Securities and coupons shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 510.&nbsp;&nbsp;&nbsp;&nbsp;Rights and Remedies Cumulative.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons in the last paragraph of
Section&nbsp;306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities or coupons is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or&nbsp;remedy. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 511.&nbsp;&nbsp;&nbsp;&nbsp;Delay or Omission Not Waiver.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No delay or omission of the Trustee or of any Holder of any Security or coupon to exercise any right or remedy accruing upon any Event of Default shall impair any
such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may&nbsp;be. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>52</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_53"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 512.&nbsp;&nbsp;&nbsp;&nbsp;Control by Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Securities of any series, the Holders of not less than a majority in principal amount of the Outstanding Securities of such series shall have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, relating to or arising
under Section&nbsp;501, <U>provided</U>&nbsp;that </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;such
direction shall not be in conflict with any rule of law or with this&nbsp;Indenture, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction,&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;the
Trustee need not take any action which might involve it in personal liability or be unjustly prejudicial to the Holders of Securities of such series
not&nbsp;consenting. </FONT></P>


<P><FONT SIZE=2><B> SECTION 513.&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Past Defaults.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;502, the Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the
Holders of all the Securities of such series waive any past default described in Section&nbsp;501, and its consequences, except a&nbsp;default </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;in
respect of the payment of the principal of (or&nbsp;premium, if any) or interest, if any, on any Security or any related coupon,&nbsp;or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;in
respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of
such series affected. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
any such waiver, any such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 514.&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Stay or Extension Laws.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants (to&nbsp;the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the
Company (to&nbsp;the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been&nbsp;enacted. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>53</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_54"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE SIX  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> THE TRUSTEE  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 601.&nbsp;&nbsp;&nbsp;&nbsp;Notice of Defaults.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Within 90&nbsp;days after the occurrence of any Default hereunder with respect to the Securities of any series, the Trustee shall transmit in the manner and to
the extent provided in TIA Section&nbsp;313(c) notice of such default hereunder known to the Trustee, unless such Default shall have been cured or waived; <U>provided</U>,
<U>however</U>, that, except in the case of a Default in the payment of the principal of (or&nbsp;premium, if any) or interest, if any, on any Security of such series or in the
payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Holders of Securities of
such series and any related coupons; and <U>provided further</U> that in the case of any Default of the character specified in Section&nbsp;501(3) with respect to Securities of
such series, no such notice to Holders shall be given until at least 30&nbsp;days after the occurrence thereof. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 602.&nbsp;&nbsp;&nbsp;&nbsp;Certain Rights of Trustee.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of TIA Sections&nbsp;315(a) through&nbsp;315(d): </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the
proper party or&nbsp;parties; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of
Directors may be sufficiently evidenced by a Board Resolution; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;whenever
in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers' Certificate; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;the
Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of
Securities of any series or any related coupons pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against
the costs, expenses and liabilities which might be incurred by it in compliance with such request or&nbsp;direction; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>54</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_55"> </A>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the
Company, personally or by agent or&nbsp;attorney; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;the
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall
not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it&nbsp;hereunder; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;the
Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or
powers conferred upon it by this&nbsp;Indenture; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;the
Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless
written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and
this&nbsp;Indenture; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;the
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder on behalf of the Trustee;&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;the
Trustee may request that the Company deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to
take specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any person authorized to sign an Officers' Certificate, including any person specified as so authorized
in any such certificate previously delivered and not&nbsp;superseded. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any
of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to&nbsp;it. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 603.&nbsp;&nbsp;&nbsp;&nbsp;Trustee Not Responsible for Recitals or Issuance of Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals contained herein and in the Securities, except for the Trustee's certificates of authentication, and in any coupons shall be taken as the statements
of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations
hereunder and that the statements made by it in a Statement of Eligibility on Form&nbsp;T-1 supplied to the Company are true and accurate, subject to the qualifications set forth
therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>55</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_56"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 604.&nbsp;&nbsp;&nbsp;&nbsp;May Hold Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company or of the Trustee, in its individual or any
other capacity, may become the owner or pledgee of Securities and coupons and, subject to Sections&nbsp;310(b) and&nbsp;311 of the Trust Indenture Act, may otherwise deal with the Company with the
same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. A Trustee that has resigned or was removed shall remain subject to
Section&nbsp;311(a) of the Trust Indenture&nbsp;Act. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 605.&nbsp;&nbsp;&nbsp;&nbsp;Money Held in Trust.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability
for interest on any money received by it hereunder except as otherwise agreed with the&nbsp;Company. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 606.&nbsp;&nbsp;&nbsp;&nbsp;Compensation and Reimbursement.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company agrees: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;to
pay to the Trustee from time to time such reasonable compensation as the Company and the Trustee shall from time to time agree in writing for all services rendered by
it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express&nbsp;trust); </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;except
as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as may be attributable to its negligence or bad faith;&nbsp;and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;to
indemnify the Trustee for, and to hold it harmless against, any loss, damage, liability or expense incurred without negligence or bad faith on its part, arising out
of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, any
Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Company under this Section to compensate the Trustee, to pay or reimburse the Trustee for expenses, disbursements and advances and to indemnify and hold harmless
the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. As security for the performance of such obligations of the Company,
the Trustee shall have a claim prior to the Securities upon all Property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of
(or&nbsp;premium, if any) or interest, if any, on particular Securities or any&nbsp;coupons. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>56</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_57"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section&nbsp;501(5) or&nbsp;(6), the expenses (including reasonable charges
and expense of its counsel) of and the compensation for such services are intended to constitute expenses of administration under any applicable U.S. or Canadian federal, state or provincial
bankruptcy, insolvency or other similar&nbsp;law. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this Section shall survive the termination of this Indenture and the resignation or removal of the&nbsp;Trustee. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 607.&nbsp;&nbsp;&nbsp;&nbsp;Corporate Trustee Required; Eligibility.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There shall be at all times a Trustee hereunder which shall be eligible to act as Trustee under TIA Section&nbsp;310(a)(1) and&nbsp;shall have a combined
capital and surplus (together with that of its parent) of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of Federal,
State, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section,
it shall resign immediately in the manner and with the effect hereinafter specified in this&nbsp;Article. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 608.&nbsp;&nbsp;&nbsp;&nbsp;Resignation and Removal; Appointment of Successor.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by
the successor Trustee in accordance with the applicable requirements of Section&nbsp;609. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;The
Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance
by a successor Trustee required by Section&nbsp;609 shall not have been delivered to the Trustee within 30&nbsp;days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such&nbsp;series. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;The
Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of not less than a majority in principal amount of the
Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section&nbsp;609 shall not have been delivered
to the Trustee within 30&nbsp;days after the giving of such notice of removal, the removed Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such&nbsp;series. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>57</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_58"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;If
at any time: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
Trustee shall fail to comply with the provisions of TIA Section&nbsp;310(b) after written request therefor by the Company or by any Holder who has been a
bona&nbsp;fide Holder of a Security for at least six months,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Trustee shall cease to be eligible under Section&nbsp;607 and&nbsp;shall fail to resign after written request therefor by the Company or by any Holder who has
been a bona&nbsp;fide Holder of a Security for at least six months,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any
public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or&nbsp;liquidation, </FONT></P>

</UL>

<P><FONT SIZE=2>then,
in any such case, (i)&nbsp;the Company, by a Board Resolution, may remove the Trustee with respect to all Securities or the Securities of such series, or (ii)&nbsp;subject to TIA
Section&nbsp;315(e), any Holder who has been a bona&nbsp;fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or&nbsp;Trustees. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;If
the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities
of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it&nbsp;being understood
that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities
of any particular series). If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series
shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner
hereinafter provided, any Holder who has been a bona&nbsp;fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such&nbsp;series. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor
Trustee with respect to the Securities of any series to the Holders of Securities of such series in the manner provided for in Section&nbsp;106. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust&nbsp;Office. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>58</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_59"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 609.&nbsp;&nbsp;&nbsp;&nbsp;Acceptance of Appointment by Successor.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;In
case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;In
case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but&nbsp;not all) series, the Company, the retiring Trustee
and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment
and which (1)&nbsp;shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of
the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2)&nbsp;if the retiring Trustee is not retiring with respect
to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3)&nbsp;shall add to or change any of the provisions of
this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to
the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee
with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall
duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates. Whenever there is a successor Trustee with respect to one or more (but&nbsp;less than all) series of securities issued pursuant to this Indenture, the
terms "Indenture" and "Securities" shall have the meanings specified in the provisos to the respective definitions of those terms in Section&nbsp;101 which contemplate such&nbsp;situation. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;Upon
request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor
Trustee all rights, powers and trusts referred to in paragraph&nbsp;(a) or&nbsp;(b) of this Section, as the case may&nbsp;be. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;No
successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this&nbsp;Article. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>59</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_60"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 610.&nbsp;&nbsp;&nbsp;&nbsp;Merger, Conversion, Consolidation or Succession to Business.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. In case any of the Securities shall
not have been authenticated by such predecessor Trustee, any successor Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee.
In all such cases such certificates shall have the full force and effect which this Indenture provides for the certificate of authentication of the Trustee; <U>provided</U>,
<U>however</U>, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee shall
apply only to its successor or successors by merger, conversion or consolidation. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 611.&nbsp;&nbsp;&nbsp;&nbsp;Appointment of Authenticating Agent.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time when any of the Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of
Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series and the Trustee shall give written notice of such appointment to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve, in the manner provided for in Section&nbsp;106. Securities so authenticated shall be entitled to the benefits of
this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing signed by a
Responsible Officer of the Trustee, and a copy of such instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee's certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and
a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation
organized and doing business under the laws of the United&nbsp;States, any state thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined
capital and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state authority. If such corporation publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this
Section, it shall resign immediately in the manner and with the effect specified in this&nbsp;Section. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>60</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_di3742_1_61"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a
party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be
otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and
shall give written notice of such appointment to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, in the manner provided for in Section&nbsp;106.
Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this&nbsp;Section. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this&nbsp;Section. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee's certificate
of authentication, an alternate certificate of authentication in the following&nbsp;form: </FONT></P>


<P><FONT SIZE=2>Dated:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is one of the Securities of the series designated therein referred to in, and issued under, the within-mentioned Indenture. </FONT></P>

<!-- User-specified TAGGED TABLE -->
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<TD WIDTH="40%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>THE BANK OF NEW YORK,<BR>
as Trustee</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="54%"><BR><HR NOSHADE><FONT SIZE=2> as Authenticating Agent</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By</FONT></TD>
<TD WIDTH="54%"><BR><HR NOSHADE><FONT SIZE=2> Authorized Signatory<BR></FONT>
</TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
</TABLE>
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<BR>
<P ALIGN="CENTER"><FONT SIZE=2>61</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dk3742_1_62"> </A> </FONT> <FONT SIZE=2><B>ARTICLE SEVEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 701.&nbsp;&nbsp;&nbsp;&nbsp;Company to Furnish Trustee Names and Addresses of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will furnish or cause to be furnished to the Trustee (1)&nbsp;not more than 15&nbsp;days after each Regular Record Date a list, in such form as
the Trustee may reasonably require, of the names and addresses of Holders as of such Regular Record Date; <U>provided</U>, <U>however</U>, that the Company
shall not be obligated to furnish or cause to be furnished such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and at
such times as the Trustee is acting as Security Registrar for the applicable series of Securities and (2)&nbsp;at such other times as the Trustee may request in writing within 30&nbsp;days after
the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15&nbsp;days prior to the time such list is&nbsp;furnished. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 702.&nbsp;&nbsp;&nbsp;&nbsp;Preservation of List of Names and Addresses of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders contained in the most
recent list furnished to it as provided in Section&nbsp;701 and&nbsp;as to the names and addresses of Holders received by the Trustee in its capacity as Security Registrar for the applicable
series of Securities (if&nbsp;acting in such&nbsp;capacity). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may destroy any list furnished to it as provided in Section&nbsp;701 upon receipt of a new list so&nbsp;furnished. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
may communicate as provided in Section&nbsp;312(b) of the Trust Indenture Act with other Holders with respect to their rights under this Indenture or under
the&nbsp;Securities. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 703.&nbsp;&nbsp;&nbsp;&nbsp;Disclosure of Names and Addresses of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every Holder of Securities or coupons, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company or the Trustee or any
agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with TIA Section&nbsp;312, regardless
of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under TIA Section&nbsp;312(b). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>62</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<A NAME="page_dk3742_1_63"> </A>
<UL>

<P><FONT SIZE=2><B> SECTION 704.&nbsp;&nbsp;&nbsp;&nbsp;Reports by Trustee.  </B></FONT></P>

<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>Within
60&nbsp;days after May&nbsp;15 of each year commencing with the first May&nbsp;15 after the first issuance of Securities pursuant to this Indenture, the
Trustee shall transmit to the Holders of Securities, in the manner and to the extent provided in Section&nbsp;313(c) of the Trust Indenture Act, a brief report dated as of such May&nbsp;15 if
required by Section&nbsp;313(a) of the Trust Indenture&nbsp;Act.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>The
Trustee shall comply with Sections&nbsp;313(b) and&nbsp;313(c) of the Trust Indenture&nbsp;Act.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>A
copy of such report shall, at the time of such transmission to the Holders, be filed by the Trustee with the Company (Attention: Senior Vice President and General
Counsel), with each securities exchange upon which any of the Securities are listed (if&nbsp;so listed) and also with the Commission. The Company agrees to notify the Trustee when the Securities
become listed on any stock&nbsp;exchange. </FONT></DD></DL>

<P><FONT SIZE=2><B> SECTION 705.&nbsp;&nbsp;&nbsp;&nbsp;Reports by the Company.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;file
with the Trustee, within 15&nbsp;days after the Company is required to file the same with the Commission, copies of the annual reports and of the information,
documents and other reports (or&nbsp;copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to
file with the Commission pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Securities Exchange Act of&nbsp;1934; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;file
with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents
and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;notwithstanding
that the Company may not be required to remain subject to the reporting requirements of Section&nbsp;13 or&nbsp;15(d) of the Securities Exchange Act
of 1934, or otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by the Commission, the Company
shall provide the&nbsp;Trustee: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;within
time periods required for the filing of such forms by the Commission, annual reports on Form&nbsp;40-F or&nbsp;20-F, as applicable
(or&nbsp;any successor form);&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;within
time periods required for the filing of such forms by the Commission, reports on Form&nbsp;6-K (or&nbsp;any successor form) which, regardless of
applicable requirements, shall, at a minimum, contain such information required to be provided in quarterly reports under the laws of Canada or any province thereof to security holders of a company
with securities listed on the Toronto Stock Exchange, whether or not the Company has any of its securities so&nbsp;listed. </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>63</FONT></P>

<HR NOSHADE>
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<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such
information, to the extent permitted by the rules and regulations of the Commission, shall be prepared in accordance with Canadian disclosure requirements and GAAP;
<U>provided</U>, <U>however</U>, that the Company shall not be obligated to file such reports with the Commission if the Commission does not permit such
filings;&nbsp;and </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;transmit
to all Holders, in the manner and to the extent provided in Section&nbsp;313(c) of the Trust Indenture Act, within 30&nbsp;days after the filing thereof
with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs&nbsp;(1) and&nbsp;(2) of this Section as may be required by
rules and regulations prescribed from time to time by the&nbsp;Commission. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delivery
of such reports, information and documents to the Trustee is for informational purposes only and the Trustee's receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the Company's compliance with any of its covenants hereunder (as&nbsp;to which the Trustee is entitled to
rely exclusively on Officers' Certificates). </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE EIGHT  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 801.&nbsp;&nbsp;&nbsp;&nbsp;Company May Consolidate, etc., Only on Certain Terms.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not consolidate or amalgamate with or merge into or enter into any statutory arrangement with any other corporation, or convey, transfer or
lease all or substantially all of the properties and assets of the Company and its Subsidiaries on a consolidated basis to any Person,&nbsp;unless: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
entity formed by or continuing from such consolidation or amalgamation or into which the Company is merged or with which the Company enters into such arrangement or
the Person which acquires by conveyance or transfer, or which leases, all or substantially all of the properties and assets of the Company (A)&nbsp;shall be a corporation, partnership or trust
organized and validly existing under the laws of the United&nbsp;States, any state thereof or the District of Columbia, the laws of Canada or any province thereof, or, if such consolidation,
amalgamation, merger, arrangement or other transaction would not impair the rights of Holders, in any other country, <U>provided</U> that if such successor entity is organized
under the laws of a jurisdiction other than Canada or the United&nbsp;States, the successor entity assumes the Company's obligations under the Securities and this Indenture to pay Additional
Amounts, substituting the name of such successor jurisdiction for Canada in each place that Canada appears in Section&nbsp;1005 and&nbsp;(B) shall expressly assume, by an indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, or shall assume by operation of law, the Company's obligation for the due and punctual payment of the principal of
(and&nbsp;premium, if any) and interest, if any, on all the Securities and the performance and observance of every covenant of this Indenture on the part of the Company to be performed
or&nbsp;observed; </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>64</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;immediately
before and after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;&nbsp;and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;the
Company or such Person shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation,
merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been
complied&nbsp;with. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Section shall only apply to a merger, amalgamation, consolidation or statutory arrangement in which the Company is not the surviving corporation and to conveyances, leases and
transfers by the Company as transferor or lessor. Notwithstanding anything to the contrary in this Section&nbsp;801, the Company may consolidate or amalgamate with or merge into or enter into a
statutory arrangement with any direct or indirect Wholly Owned Subsidiary of the Company and convey, transfer or lease all or substantially all of the properties and assets of the Company and its
Subsidiaries on a consolidated basis to any direct or indirect Wholly Owned Subsidiary of the Company without complying with the above provisions in a transaction or series of transactions in which
the Company remains the obligor on the Securities (a&nbsp;"</FONT><FONT SIZE=2><B>Permitted Reorganization</B></FONT><FONT SIZE=2>") provided that Company has provided the Trustee and all of the
Company's then current ratings agencies with notice of its intention to enter into a Permitted Reorganization at least 45&nbsp;days prior to the proposed date of completion of such Permitted
Reorganization (the&nbsp;"</FONT><FONT SIZE=2><B>Permitted Reorganization Date</B></FONT><FONT SIZE=2>") and provided further that on or prior to the Permitted Reorganization Date the Company has
delivered to the Trustee an Officers' Certificate confirming that, as of the Permitted Reorganization&nbsp;Date: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>all
Debt of the Company which ranked pari&nbsp;passu with the then outstanding Securities immediately prior to the proposed Permitted Reorganization will rank no
better than pari&nbsp;passu with such Securities after the Permitted Reorganization; for certainty, there is no requirement for any such other Debt to obtain or maintain similar ranking to such
Securities and such other Debt may be structurally subordinated or otherwise subordinated to the Securities;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>at
least two of the Company's then current credit rating agencies (or&nbsp;if only one credit rating agency maintains ratings in respect of the Company's debt
securities at such time, that one rating agency) have affirmed that the rating assigned by them to the Securities shall not be downgraded as a result of the Permitted Reorganization, or
notice&nbsp;thereof. </FONT></DD></DL>
</UL>
<UL>

<P><FONT SIZE=2><B> SECTION 802.&nbsp;&nbsp;&nbsp;&nbsp;Successor Person Substituted.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any consolidation or amalgamation by the Company with or merger by the Company into any other corporation or any conveyance, transfer or lease all or
substantially all of the properties and assets of the Company to any Person in accordance with Section&nbsp;801, the successor&nbsp;Person formed by such consolidation or amalgamation or into
which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture
with the same effect as if such successor Person had been named as the Company herein, and in the event of any such conveyance or transfer, the Company (which term shall for this purpose mean the
Person named as the "Company" in the first paragraph of this Indenture or any successor Person which shall theretofore become such in the manner described in Section&nbsp;801), except in the case of
a lease, shall be discharged of all obligations and covenants under this Indenture and the Securities and the coupons and may be dissolved and&nbsp;liquidated. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>65</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2><B> SECTION 803.&nbsp;&nbsp;&nbsp;&nbsp;Securities to Be Secured in Certain Events.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, upon any such consolidation or amalgamation of the Company with or merger of the Company into any other corporation, or upon any conveyance, lease or transfer
of the Property of the Company as an entirety or substantially as an entirety to any other Person, any Property of the Company or of any Restricted Subsidiary, would thereupon become subject to any
Lien, then unless such Lien could be created pursuant to Section&nbsp;1009 without equally and ratably securing the Securities, the Company, prior to or simultaneously with such consolidation,
amalgamation, merger, conveyance, lease or transfer, will, as to such Property, secure the Securities Outstanding hereunder (together with, if the Company shall so determine, any other Debt of the
Company now existing or hereafter created which is not subordinate to the Securities) equally and ratably with (or&nbsp;prior to) the Debt which upon such consolidation, amalgamation, merger,
conveyance, lease or transfer is to become secured as to such Property by such Lien, or will cause such Securities to be so secured; <U>provided</U> that, for the purpose of
providing such equal and ratable security, the principal amount of Original Issue Discount Securities and Indexed Securities shall mean that amount which would at the time of making such effective
provision be due and payable pursuant to Section&nbsp;502 and&nbsp;the terms of such Original Issue Discount Securities and Indexed Securities upon a declaration of acceleration of the Maturity
thereof, and the extent of such equal and ratable security shall be adjusted, to the extent permitted by law, as and when said amount changes over time pursuant to the terms of such Original Issue
Discount Securities and Indexed Securities. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE NINE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SUPPLEMENTAL INDENTURES  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 901.&nbsp;&nbsp;&nbsp;&nbsp;Supplemental Indentures Without Consent of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without the consent of any Holders, the Company, when authorized by or pursuant to a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;to
evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company contained herein and in the
Securities;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities and any related coupons (and&nbsp;if such covenants are to be
for the benefit of less than all series of Securities, stating that such covenants are being included solely for the benefit of such series) or to surrender any right or power herein conferred upon
the Company;&nbsp;or </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>66</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;to
add any additional Events of Default (and&nbsp;if such Events of Default are to be for the benefit of less than all series of Securities, stating that such Events
of Default are being included solely for the benefit of such series);&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;to
add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions
on the payment of principal of or any premium or interest on Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be issued
in exchange for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form; <U>provided</U> that any such
action shall not adversely affect the interests of the Holders of Securities of any series or any related coupons in any material respect;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;to
change or eliminate any of the provisions of this Indenture; <U>provided</U> that any such change or elimination shall become effective only
when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision;&nbsp;or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;to
secure the Securities pursuant to the requirements of Section&nbsp;803 or&nbsp;1009 or otherwise;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;to
establish the form or terms of Securities of any series as permitted by Sections&nbsp;201 and&nbsp;301;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section&nbsp;609(b);&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;to
close this Indenture with respect to the authentication and delivery of additional series of Securities, to cure any ambiguity, to correct or supplement any provision
herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture;
<U>provided</U> such action shall not adversely affect the interests of the Holders of Securities of any series and any related coupons in any material respect;&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of
Securities pursuant to Sections&nbsp;401, 1402 and&nbsp;1403; <U>provided</U> that, in each such case, any such action shall not adversely affect the interests of the Holders
of Securities of such series and any related coupons or any other series of Securities in any material respect. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>67</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2><B> SECTION 902.&nbsp;&nbsp;&nbsp;&nbsp;Supplemental Indentures with Consent of Holders.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With the consent of the Holders of not less than a majority in principal amount of all Outstanding Securities affected by such supplemental indenture (voting as
one class), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by or pursuant to a Board Resolution, and the Trustee may enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture which affect such series of Securities or of
modifying in any manner the rights of the Holders of Securities of such series under this Indenture; <U>provided</U>, <U>however</U>, that no such
supplemental indenture shall, without the consent of the Holder of each Outstanding Security of such&nbsp;series, </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;change
the Stated Maturity of the principal of (or&nbsp;premium, if any) or any installment of interest on any Security of such series, or reduce the principal amount
thereof (or&nbsp;premium, if any) or the rate of interest, if any, thereon, or change any obligation of the Company to pay Additional Amounts contemplated by Section&nbsp;1005 (except as
contemplated by Section&nbsp;801(1) and&nbsp;permitted by Section&nbsp;901(1)), or reduce the amount of the principal of an Original Issue Discount Security of such series that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section&nbsp;502 or&nbsp;the amount thereof provable in bankruptcy pursuant to Section&nbsp;504, or adversely
affect any right of repayment at the option of any Holder of any Security of such series, or change any Place of Payment where, or the Currency in which, any Security of such series or any premium or
interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repayment at the
option of the Holder, on or after the Redemption Date or Repayment Date, as the case may be), or adversely affect any right to convert or exchange any Security as may be provided pursuant to
Section&nbsp;301 herein,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;reduce
the percentage in principal amount of the Outstanding Securities of such series required for any such supplemental indenture, or the consent of whose Holders is
required for any waiver of compliance with certain provisions of this Indenture which affect such series or certain defaults applicable to such series hereunder and their consequences provided for in
this Indenture, or reduce the requirements of Section&nbsp;1504 for&nbsp;quorum or voting with respect to Securities of such series,&nbsp;or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;modify
any of the provisions of this Section, Section&nbsp;513 or Section&nbsp;1010, except to&nbsp;increase any such percentage or to provide that certain other
provisions of this Indenture which affect such series cannot be modified or waived without the consent of the Holder of each Outstanding Security of such&nbsp;series. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular
series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. Any such supplemental indenture adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture,
or modifying in any manner the rights of the Holders of Securities of such series, shall not affect the rights under this Indenture of the Holders of Securities of any other&nbsp;series. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>68</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 903.&nbsp;&nbsp;&nbsp;&nbsp;Execution of Supplemental Indentures.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee's own rights, duties or immunities under
this Indenture or&nbsp;otherwise. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 904.&nbsp;&nbsp;&nbsp;&nbsp;Effect of Supplemental Indentures.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture
shall form&nbsp;a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound&nbsp;thereby. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 905.&nbsp;&nbsp;&nbsp;&nbsp;Conformity with Trust Indenture Act.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in&nbsp;effect. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 906.&nbsp;&nbsp;&nbsp;&nbsp;Reference in Securities to Supplemental Indentures.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the
Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to
conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for
Outstanding Securities of such&nbsp;series. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 907.&nbsp;&nbsp;&nbsp;&nbsp;Notice of Supplemental Indentures.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of Section&nbsp;902, the Company shall give
notice thereof to the Holders of each Outstanding Security affected, in the manner provided for in Section&nbsp;106, setting forth in general terms the substance of such supplemental indenture. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>69</FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE TEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> COVENANTS  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1001.&nbsp;&nbsp;&nbsp;&nbsp;Payment of Principal, Premium, if any, and Interest.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants and agrees for the benefit of the Holders of each series of Securities and any related coupons that it will duly and punctually pay the
principal of (and&nbsp;premium, if any) and interest, if any, on the Securities of that series in accordance with the terms of the Securities, any coupons appertaining thereto and this Indenture.
Unless otherwise specified as contemplated by Section&nbsp;301 with respect to any series of Securities, any interest installments due on Bearer Securities on or before Maturity shall be payable
only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1002.&nbsp;&nbsp;&nbsp;&nbsp;Maintenance of Office or Agency.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Securities of a series are issuable only as Registered Securities, the Company will maintain in each Place of Payment for any series of Securities an
office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where
Securities of that series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable and where notices and demands to or upon the Company in respect of the
Securities of that series and this Indenture may be&nbsp;served. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Securities of a series are issuable as Bearer Securities, the Company will maintain (A)&nbsp;in The City of New&nbsp;York, an office or agency where any Registered Securities of
that series may be presented or surrendered for payment, where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may be
surrendered for exchange, where Securities of that series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable, where notices and demands to or upon the
Company in respect of the Securities of that series and this Indenture may be served and where Bearer Securities of that series and related coupons may be presented or surrendered for payment in the
circumstances described in the following paragraph (and&nbsp;not otherwise) (B)&nbsp;subject to any laws or regulations applicable thereto, in a Place of Payment for that series which is located
outside the United&nbsp;States, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment; <U>provided</U>,
<U>however</U>, that, if the Securities of that series are listed on any stock exchange located outside the United&nbsp;States and such stock exchange shall so require, the
Company will maintain a Paying Agent for the Securities of that series in any required city located outside the United&nbsp;States so long as the Securities of that series are listed on such
exchange, and (C)&nbsp;subject to any laws or regulations applicable thereto, in a Place of Payment for that series located outside the United&nbsp;States an office or agency where any Registered
Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for exchange, where Securities of that series that are convertible and
exchangeable may be surrendered for conversion or exchange, as applicable and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may
be&nbsp;served. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust
Office of the Trustee, except that Bearer Securities of any series and the related coupons may be presented and surrendered for payment at the offices specified in the Security, in London, and the
Company hereby appoints the same as its agents to receive such respective presentations, surrenders, notices and&nbsp;demands. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>70</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified with respect to any Securities pursuant to Section&nbsp;301, no payment of principal, premium or interest on Bearer Securities shall be made at any office or
agency of the Company in the United&nbsp;States or by check mailed to any address in the United&nbsp;States or by transfer to an account maintained with a bank located in the United&nbsp;States;
<U>provided</U>, <U>however</U>, that, if the Securities of a series are payable in Dollars, payment of principal of (and&nbsp;premium, if any) and
interest, if any, on any Bearer Security shall be made at the office of the Company's Paying Agent in The City of New&nbsp;York, if (but&nbsp;only if) payment in Dollars of the full amount of such
principal, premium or interest, as the case may be, at all offices or agencies outside the United&nbsp;States maintained for such purpose by the Company in accordance with this Indenture is illegal
or effectively precluded by exchange controls or other similar restrictions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such
purposes and may from time to time rescind any such designation; <U>provided</U>, <U>however</U>, that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt
written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. Unless otherwise specified with respect to any Securities as
contemplated by Section&nbsp;301 with respect to a series of Securities, the Company hereby designates as a Place of Payment for each series of Securities the office or agency of the Company in the
Borough of Manhattan, The City of New&nbsp;York, and initially appoints the Trustee at its Corporate Trust Office as Paying Agent in such city and as its agent to receive all such presentations,
surrenders, notices and&nbsp;demands. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified with respect to any Securities pursuant to Section&nbsp;301, if and&nbsp;so long as the Securities of any series&nbsp;(i) are denominated in a Currency
other than Dollars or (ii)&nbsp;may be payable in a Currency other than Dollars, or so long as it is required under any other provision of the Indenture, then the Company will maintain with respect
to each such series of Securities, or as so required, at least one Exchange Rate&nbsp;Agent. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1003.&nbsp;&nbsp;&nbsp;&nbsp;Money for Securities Payments to Be Held in Trust.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company shall at any time act as its own Paying Agent with respect to any series of Securities and any related coupons, it will, on or before each due date
of the principal of (or&nbsp;premium, if any) or interest, if any, on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the
Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for&nbsp;the Securities of such series and except, if applicable, as
provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) sufficient to pay the principal of (or&nbsp;premium, if any) or interest, if any, on Securities of such series so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to&nbsp;act. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever
the Company shall have one or more Paying Agents for any series of Securities and any related coupons, it will, prior to or on each due date of the principal of
(or&nbsp;premium, if any) or interest, if any, on any Securities of that series, deposit with a Paying Agent a sum (in&nbsp;the Currency described in the preceding paragraph) sufficient to pay the
principal (or&nbsp;premium, if any) or interest, if any, so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless
such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to&nbsp;act. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>71</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will cause each Paying Agent (other than the Trustee) for any series of Securities to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying Agent&nbsp;will: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;hold
all sums held by it for the payment of the principal of (and&nbsp;premium, if any) and interest, if any, on Securities of such series in trust for the benefit of
the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;give
the Trustee notice of any default by the Company (or&nbsp;any other obligor upon the Securities of such series) in the making of any payment of principal of
(or&nbsp;premium, if any) or interest, if any, on the Securities of such series;&nbsp;and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;at
any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such
Paying&nbsp;Agent. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such&nbsp;sums. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as provided in the Securities of any series, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of
(or&nbsp;premium, if any) or interest, if any, on any Security of any series, or any coupon appertaining thereto, and remaining unclaimed for two years (or&nbsp;such shorter period as may be
specified in the applicable abandoned property statutes) after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if&nbsp;then held
by the Company) shall be discharged from such trust; and the Holder of such Security or coupon shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; <U>provided</U>,
<U>however</U>, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an
Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30&nbsp;days from the date of such publication, any unclaimed
balance of such money then remaining will be repaid to the&nbsp;Company. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>72</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2><B> SECTION 1004.&nbsp;&nbsp;&nbsp;&nbsp;Statement as to Compliance and Notice of Default.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will deliver to the Trustee, within 120&nbsp;days after the end of each fiscal year, a brief certificate from the principal executive officer,
principal financial officer or principal accounting officer as to his or her knowledge of the Company's compliance with all conditions and covenants under this Indenture. For purposes of this
Section&nbsp;1004, such compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture. Upon becoming aware of any Event of Default, the Company
will notify the Trustee as soon as&nbsp;practicable. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1005.&nbsp;&nbsp;&nbsp;&nbsp;Additional Amounts.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided in Section&nbsp;301 for&nbsp;Securities of any series, all payments made by the Company under or with respect to the Securities will
be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge (including penalties,
interest and other liabilities related thereto) imposed or levied by or on behalf of the Government of Canada or of any province or territory thereof or by any authority or agency therein or thereof
having power to tax (hereinafter "</FONT><FONT SIZE=2><B>Canadian Taxes</B></FONT><FONT SIZE=2>"), unless the Company is required to withhold or deduct Canadian Taxes by law or by the interpretation
or administration thereof. If the Company is so required to withhold or deduct any amount for or on account of Canadian Taxes from any payment made under or with respect to the Securities, the Company
will pay to each Holder as additional interest such additional amounts ("</FONT><FONT SIZE=2><B>Additional Amounts</B></FONT><FONT SIZE=2>") as may be necessary so that the net amount received by
each Holder after such withholding or deduction (and&nbsp;after deducting any Canadian Taxes on such Additional Amounts) will not be less than the amount the Holder would have received if such
Canadian Taxes had not been withheld or deducted. However, no Additional Amounts will be payable with respect to a payment made to a Holder (such Holder, an "</FONT><FONT SIZE=2><B>Excluded
Holder</B></FONT><FONT SIZE=2>") in respect of the beneficial owner&nbsp;thereof: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>with
which the Company does not deal at arm's length (within the meaning of the </FONT><FONT SIZE=2><I>Income Tax&nbsp;Act</I></FONT><FONT SIZE=2> (Canada)) at the
time of making such&nbsp;payment;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>which
is subject to such Canadian Taxes by reason of the Holder being a resident, domicile or national of, or engaged in business or maintaining a permanent
establishment or other physical presence in or otherwise having some connection with Canada or any province or territory thereof otherwise than by the mere holding of Securities or the receipt of
payments thereunder;&nbsp;or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>which
is subject to such Canadian Taxes by reason of the Holder's failure to comply with any certification, identification, information, documentation or other
reporting requirements if compliance is required by law, regulation, administrative practice or an applicable treaty as a precondition to exemption from, or a reduction in the rate of deduction or
withholding of, such Canadian&nbsp;Taxes. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will also: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>make
such withholding or deduction; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>remit
the full amount deducted or withheld to the relevant authority in accordance with applicable&nbsp;law. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>73</FONT></P>

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<UL>
<UL>
</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will furnish to the Holders of the Securities, within 60&nbsp;days after the date the payment of any Canadian Taxes is due pursuant to applicable law, certified copies of
tax receipts or other documents evidencing such payment by the&nbsp;Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will indemnify and hold harmless each Holder (other than an Excluded Holder) and upon written request reimburse each such Holder for the amount, excluding any payment of
Additional Amounts by the Company,&nbsp;of: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>any
Canadian Taxes so levied or imposed and paid by such Holder as a result of payments made under or with respect to the&nbsp;Securities;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>any
liability (including penalties, interest and expenses) arising therefrom or with respect thereto;&nbsp;and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>any
Canadian Taxes imposed with respect to any reimbursement under clause&nbsp;(i) or&nbsp;(ii) in this paragraph, but excluding any such Canadian Taxes on such
Holder's net&nbsp;income. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wherever
in this Indenture there is mentioned, in any context, the payment of principal (and&nbsp;premium, if any), interest or any other amount payable under or with respect to a
Security, such mention shall be deemed to include mention of the
payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1006.&nbsp;&nbsp;&nbsp;&nbsp;Payment of Taxes and Other Claims.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1)&nbsp;all material taxes, assessments and
governmental charges levied or imposed upon the Company or any Restricted Subsidiary or upon the income, profits or Property of the Company or any Restricted Subsidiary, and (2)&nbsp;all material
lawful claims for labor, materials and supplies which, if unpaid, might by law become a Lien upon any Property of the Company or any Restricted Subsidiary; <U>provided</U>,
<U>however</U>, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability
or validity is being contested in good faith by appropriate proceedings. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1007.&nbsp;&nbsp;&nbsp;&nbsp;To Carry on Business.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will itself or through its Subsidiaries carry on its business in accordance with ordinary industry practice (which may include carrying on business in
partnership), will keep or cause to be kept proper books of account in relation to its business and the business of its Subsidiaries, as the case may be, and, subject to the other provisions of this
Indenture, will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, and will not consolidate, amalgamate or merge with any other
corporation or transfer its undertaking and Property as an entirety or substantially as an entirety to any other Person, except in compliance with the provisions of Article Eight;
<U>provided</U>, <U>however</U>, that nothing herein contained shall prevent the Company from ceasing to carry on any portion of its business
(but&nbsp;not substantially all of its business) or from ceasing to operate any premises or Property if it shall be advisable and in the best interests of the&nbsp;Company. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>74</FONT></P>

<HR NOSHADE>
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<UL>

<P><FONT SIZE=2><B> SECTION 1008.&nbsp;&nbsp;&nbsp;&nbsp;Corporate Existence.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and
the rights (charter and statutory) and franchises of the Company and any Restricted Subsidiary; <U>provided</U>, <U>however</U>, that the Company shall not
be required to preserve any such right or franchise if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries as a&nbsp;whole. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1009.&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Liens.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as any of the Securities are outstanding, the Company will not, and will not permit any Restricted Subsidiary to, create, incur or assume any Lien on or
over any present or future Property securing any Debt of the Company or a Restricted Subsidiary without also simultaneously or prior thereto securing, or causing such Restricted Subsidiary to secure,
equally and ratably with such other Debt all of the Securities then Outstanding under this Indenture, except: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>Liens
existing as of the date of this Indenture;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>any
Purchase Money Mortgage;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>Liens
on any property in favor of any federal government or any province, state or territory thereof or any municipality therein or any political subdivision,
department, agency or instrumentality of any of them to secure the performance of any covenant or obligation to or in favor of or entered into at the request of such authorities where such security is
required pursuant to any contract, statute or regulation or with respect to any franchise, grant, license or permit and any defects in title in structures or other facilities arising solely from the
fact that such structures or facilities are constructed or installed on lands held by the Company under government permits, leases or other&nbsp;grants;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD><FONT SIZE=2>Liens
on any property or any interest therein to secure all or any part of the costs incurred after the date of this Indenture for surveying, exploration, extraction,
drilling, development, construction, alteration, repair or improvement of or on such&nbsp;property;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD><FONT SIZE=2>Liens
on any oil and/or gas property or products derived from such property to secure obligations incurred or guarantees of obligations incurred in connection with or
necessarily incidental to commitments of purchase or sale of, or the transportation, storage or distribution of, such property or the products derived from such&nbsp;property;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD><FONT SIZE=2>Liens
existing on properties when acquired, <U>provided</U> that such Liens were not incurred in anticipation of such acquisition; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>75</FONT></P>

<HR NOSHADE>
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<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(vii)</FONT></DT><DD><FONT SIZE=2>Liens
existing on property of a person when such person becomes a Restricted Subsidiary, or arising thereafter pursuant to contractual commitments entered into prior
to and not in contemplation of such person becoming a Restricted Subsidiary, or is merged into or amalgamated or consolidated with the Company or a Restricted Subsidiary or such property is otherwise
acquired by the Company or a Restricted Subsidiary or when given in compliance with obligations under trust deeds and similar instruments entered into prior to their becoming Restricted Subsidiaries
or being merged into or amalgamated or consolidated with the Company or such property is otherwise acquired, provided such Liens do not attach to property owned by the Company or owned by a Restricted
Subsidiary prior to such merger, amalgamation or consolidation;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(viii)</FONT></DT><DD><FONT SIZE=2>Liens
arising under partnership agreements, oil and natural gas leases, overriding royalty agreements, net profits agreements, royalty trust agreements, master
limited partnership agreements, farm-out agreements, division orders, unitization and pooling designations, declarations, orders and agreements, development agreements, operating
agreements, production sales contracts (including security in respect of take or pay or similar obligations thereunder), area of mutual interest agreements, natural gas balancing or deferred
production agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, which in each of the foregoing cases is
customary in the oil and natural gas business, and other similar agreements which are customary in the oil and natural gas business, provided in all instances that such Lien is limited to the assets
that are the subject of the relevant agreement;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ix)</FONT></DT><DD><FONT SIZE=2>Liens
incurred or arising by operation of law;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(x)</FONT></DT><DD><FONT SIZE=2>Liens
incurred in connection with Debt which by its terms is non-recourse to the Company or any Restricted Subsidiary;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xi)</FONT></DT><DD><FONT SIZE=2>Liens
in favor of the Company or any Restricted Subsidiary;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xii)</FONT></DT><DD><FONT SIZE=2>Liens
on Current Assets to secure Debt repayable on demand or maturing within 12&nbsp;months of the date when such Debt is incurred or the date of any renewal or
extension thereof provided that such security is given at the time that the Debt is&nbsp;incurred;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xiii)</FONT></DT><DD><FONT SIZE=2>Liens
granted in the ordinary course of business in connection with Financial Instrument Obligations;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xiv)</FONT></DT><DD><FONT SIZE=2>any
Lien on Debt issued by the Company or any of its Subsidiaries and owed to the Company or any of its Subsidiaries in favor of a trustee or other collateral agent,
for the benefit of holders of publicly issued Debt of the Company that is issued in connection with, at the same time and in the same principal amount as such&nbsp;Debt;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xv)</FONT></DT><DD><FONT SIZE=2>any
extension, renewal, alteration, refinancing, replacement, exchange or refunding (or&nbsp;successive extensions, renewals, alterations, refinancings, replacements,
exchanges or refundings) of all or part of any Lien referred to in the foregoing clauses; <U>provided</U>, <U>however</U>, that (A)&nbsp;such new Lien
shall be limited to all or part of the property which is secured by the Lien plus improvements on such property and (B)&nbsp;the Debt secured by the new Lien is not increased from the amount of the
Debt then existing at the time of such extension, renewal, alteration, refinancing, replacement, exchange or refunding, plus an amount necessary to pay fees and expenses, including premiums, related
to such extensions;&nbsp;and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>76</FONT></P>

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<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(xvi)</FONT></DT><DD><FONT SIZE=2>Liens
that would otherwise be prohibited by the foregoing clauses, <U>provided</U> that the aggregate Debt outstanding and secured pursuant to
this clause does not at the time of granting the Lien exceed an amount equal to 10% of Consolidated Net Tangible Assets. </FONT></DD></DL>
</UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, transactions such as the sale (including any forward sale) or other transfer of (A)&nbsp;oil, gas, minerals or other resources of a primary nature,
whether in place or when produced, for a period of time until, or in an amount such that, the purchaser will realize therefrom a specified amount of money or a specified amount of such oil, gas,
minerals, or other resources of a primary nature, or (B)&nbsp;any other interest in property of the character commonly referred to as a "production payment", will not constitute secured Debt and
will not result in the Company being required to secure the&nbsp;Securities. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1010.&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Certain Covenants.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, with respect to any series of Securities, omit in any particular instance to comply with any term, provision or condition which affects such
series set forth in Section&nbsp;803 or Sections&nbsp;1006 to&nbsp;1009, inclusive, or, as specified pursuant to Section&nbsp;301(15) for&nbsp;Securities of such series, in any covenants of
the Company added to Article Ten pursuant to Section&nbsp;301(14) or Section&nbsp;301(15) in connection with Securities of such series, if before the time for such compliance the Holders of at
least a majority in principal amount of all Outstanding Securities of any series, by Act of such Holders, waive such compliance in such instance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee to Holders of Securities of such series in respect of any such term, provision or condition shall remain in full force and&nbsp;effect. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1011.&nbsp;&nbsp;&nbsp;&nbsp;Calculation of Original Issue Discount.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Securities are Original Issue Discount Securities, then the Company shall file with the Trustee promptly at the end of each calendar year (i)&nbsp;a
written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii)&nbsp;such other
specified information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to&nbsp;time. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>77</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE ELEVEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> REDEMPTION OF SECURITIES  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1101.&nbsp;&nbsp;&nbsp;&nbsp;Applicability of Article.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with the terms of such Securities and (except as
otherwise specified as contemplated by Section&nbsp;301 for&nbsp;Securities of any series) in accordance with this&nbsp;Article. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1102.&nbsp;&nbsp;&nbsp;&nbsp;Election to Redeem; Notice to Trustee.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption at the election of the
Company, the Company shall, at least 60&nbsp;days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the
Securities to be redeemed pursuant to Section&nbsp;1103. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers' Certificate evidencing compliance with such restriction. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1103.&nbsp;&nbsp;&nbsp;&nbsp;Selection by Trustee of Securities to Be Redeemed.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60&nbsp;days prior to
the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may
provide for the selection for redemption of portions of the principal of Securities of such series; <U>provided</U>, <U>however</U>, that no such partial
redemption shall reduce the portion of the principal amount of a Security not redeemed to less than the minimum authorized denomination for Securities of such series established pursuant to
Section&nbsp;301. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal
amount thereof to be&nbsp;redeemed. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or
to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be&nbsp;redeemed. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1104.&nbsp;&nbsp;&nbsp;&nbsp;Notice of Redemption.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as contemplated by Section&nbsp;301, notice of redemption shall be given in the manner provided for in Section&nbsp;106 not less
than 30&nbsp;nor more than 60&nbsp;days prior to the Redemption Date, to each Holder of Securities to be redeemed. Failure to give notice in the manner provided in Section&nbsp;106 to&nbsp;the
Holder of any Securities designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any
other Securities or portion thereof. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>78</FONT></P>

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<A NAME="page_dk3742_1_79"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
notices of redemption shall state: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;the
Redemption Date, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;the
Redemption Price and the amount of accrued interest to the Redemption Date payable as provided in Section&nbsp;1106, if&nbsp;any, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;if
less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the
particular Securities to be&nbsp;redeemed, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;in
case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such
Security, the holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;that
on the Redemption Date, the Redemption Price and accrued interest, if any, to the Redemption Date payable as provided in Section&nbsp;1106 will become due and
payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said&nbsp;date, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;the
Place or Places of Payment where such Securities, together in the case of Bearer Securities with all coupons appertaining thereto, if any, maturing after the
Redemption Date, are to be surrendered for payment of the Redemption Price and accrued interest, if&nbsp;any, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;that
the redemption is for a sinking fund, if such is the case, </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;that,
unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied by all coupons maturing
subsequent to the Redemption Date or the amount of any such missing coupon or coupons will be deducted from the Redemption Price unless security or indemnity satisfactory to the Company, the Trustee
and any Paying Agent is furnished,&nbsp;and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;if
Bearer Securities of any series are to be redeemed and any Registered Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged
for Registered Securities not subject to redemption on such Redemption Date pursuant to Section&nbsp;305 or&nbsp;otherwise, the last date, as determined by the Company, on which such exchanges may
be&nbsp;made. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company's request, by the Trustee in the name and at the expense
of the&nbsp;Company. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1105.&nbsp;&nbsp;&nbsp;&nbsp;Deposit of Redemption Price.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section&nbsp;1003) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to
Section&nbsp;301 for&nbsp;the Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) sufficient to pay the Redemption Price of, and
accrued interest, if any, on, all the Securities which are to be redeemed on that&nbsp;date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>79</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1106.&nbsp;&nbsp;&nbsp;&nbsp;Securities Payable on Redemption Date.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption
Price therein specified in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for&nbsp;the Securities of such series and
except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) (together with accrued interest, if any, to the Redemption Date), and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for such
interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for redemption in accordance with said notice,
together with all coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with accrued interest, if any,
to the Redemption Date; <U>provided</U>, <U>however</U>, that installments of interest on Bearer Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable only at an office or agency located outside the United&nbsp;States (except as otherwise provided in Section&nbsp;1002) and, unless otherwise specified as
contemplated by Section&nbsp;301, only upon presentation and surrender of coupons for such interest; and <U>provided further</U> that installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of
business on the relevant Record Dates according to their terms and the provisions of Section&nbsp;307. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the Redemption Date, such Security may be paid after deducting from
the Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any
Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted;
<U>provided</U>, <U>however</U>, that interest represented by coupons shall be payable only at an office or agency located outside the United&nbsp;States
(except as otherwise provided in Section&nbsp;1002) and, unless otherwise specified as contemplated by Section&nbsp;301, only upon presentation and surrender of those&nbsp;coupons. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and&nbsp;premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate of interest or Yield to Maturity (in&nbsp;the case of Original Issue Discount Securities) set forth in such&nbsp;Security. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1107.&nbsp;&nbsp;&nbsp;&nbsp;Securities Redeemed in Part.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Security which is to be redeemed only in part (pursuant to the provisions of this Article or of Article Twelve) shall be surrendered at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder
thereof or such Holder's attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a
new Security or Securities of the same series, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the
principal of the Security so&nbsp;surrendered. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>80</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1108.&nbsp;&nbsp;&nbsp;&nbsp;Tax Redemption.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified pursuant to Section&nbsp;301, the Company shall have the right to redeem, in whole but not in part, at a redemption price equal to
the principal amount thereof together with accrued and unpaid interest to the date fixed for redemption, upon the giving of a notice as described below, if the Company (or&nbsp;its successor)
determines that (i)&nbsp;as a result of (A)&nbsp;any amendment to or change (including any announced prospective change) in the laws (or&nbsp;any regulations thereunder) of Canada (or&nbsp;the
jurisdiction of organization of the Company's successor) or of any political subdivision or taxing authority thereof or therein, as applicable, or (B)&nbsp;any amendment to or change in an
interpretation or application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority (including the enactment of any legislation and the publication of
any judicial decision or regulatory determination), which amendment or change is announced or becomes effective on or after a date specified pursuant to Section&nbsp;301, if any date is so
specified, or the date a party organized in a jurisdiction other than Canada or the United&nbsp;States becomes the Company's successor, the Company has or will become obligated to pay, on the next
succeeding date on which interest is due, Additional Amounts pursuant to Section&nbsp;1005, or (ii)&nbsp;on or after a date specified pursuant to Section&nbsp;301, if any date is so specified,
or the date a party organized in a jurisdiction other than Canada or the United&nbsp;States becomes the Company's successor, any action has been taken by any taxing authority of, or any decision has
been rendered by a court of competent jurisdiction in Canada (or&nbsp;the jurisdiction of organization of the Company's successor) or any political subdivision or taxing authority thereof or
therein, including any of those actions specified in (i)&nbsp;above, whether or not such action was taken or decision was rendered with respect to the Company, or any change, amendment, application
or interpretation shall be officially proposed, which, in any such case, in the Opinion of Counsel to the Company, will result in the Company becoming obligated to pay, on the next succeeding date on
which interest is due, Additional Amounts with respect to any Security of such series; <U>provided</U>,
<U>however</U></FONT><FONT SIZE=2><I>,</I></FONT><FONT SIZE=2> that (a)&nbsp;no such notice of redemption may be given earlier than 60 or later than 30&nbsp;days prior to
the earliest date on which the Company would be obligated to pay such Additional Amounts were a payment in respect of the Securities then due, and (b)&nbsp;at the time such notice of redemption is
given, such obligation to pay such Additional Amounts remains in&nbsp;effect. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE TWELVE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> SINKING FUNDS  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1201.&nbsp;&nbsp;&nbsp;&nbsp;Applicability of Article.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retirements of Securities of any series pursuant to any sinking fund shall be made in accordance with the terms of such Securities and (except as otherwise
specified as contemplated by Section&nbsp;301 for&nbsp;Securities of any series) in accordance with this&nbsp;Article. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>81</FONT></P>

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<P><FONT SIZE=2><A
NAME="page_dm3742_1_82"> </A> </FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a "</FONT><FONT SIZE=2><B>mandatory sinking fund
payment</B></FONT><FONT SIZE=2>", and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an "</FONT><FONT SIZE=2><B>optional
sinking fund payment</B></FONT><FONT SIZE=2>". If provided for by the terms of Securities of any series, the cash amount of any mandatory sinking fund payment may be subject to reduction as provided
in Section&nbsp;1202. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such&nbsp;series. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1202.&nbsp;&nbsp;&nbsp;&nbsp;Satisfaction of Sinking Fund Payments with Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;1203, in lieu of making all or any part of any mandatory sinking fund payment with respect to any Securities of a series in cash, the
Company may at its option (1)&nbsp;deliver to the Trustee Outstanding Securities of a series (other than any previously called for redemption) theretofore purchased or otherwise acquired by the
Company together in the case of any Bearer Securities of such series with all unmatured coupons appertaining thereto, and/or (2)&nbsp;receive credit for the principal amount of Securities of such
series which have been previously delivered to the Trustee by the Company or for Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such
Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any mandatory sinking
fund payment with respect to the Securities of the same series required to be made pursuant to the terms of such Securities as provided for by the terms of such series;
<U>provided</U>, <U>however</U>, that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose
by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced
accordingly. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1203.&nbsp;&nbsp;&nbsp;&nbsp;Redemption of Securities for Sinking Fund.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not less than 60&nbsp;days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers'
Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of
cash in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for&nbsp;the Securities of such series and except, if
applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) and the portion thereof, if any, which is to be satisfied by delivering or crediting Securities of that series pursuant to
Section&nbsp;1202 (which Securities will, if not previously delivered, accompany such certificate) and whether the Company intends to exercise its right to make a permitted optional sinking fund
payment with respect to such series. Such certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments therein referred to, if any, on or
before
the next succeeding sinking fund payment date. In the case of the failure of the Company to deliver such certificate, the sinking fund payment due on the next succeeding sinking fund payment date for
that series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of such Securities subject to a mandatory sinking fund payment without the option to deliver or credit
Securities as provided in Section&nbsp;1202 and&nbsp;without the right to make any optional sinking fund payment, if any, with respect to such&nbsp;series. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>82</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
more than 60&nbsp;days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified
in Section&nbsp;1103 and&nbsp;cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section&nbsp;1104. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections&nbsp;1106 and&nbsp;1107. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior&nbsp;to
any sinking fund payment date, the Company shall pay to the Trustee or a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust
as provided in Section&nbsp;1003) in cash a sum equal to any interest that will accrue to the date fixed for redemption of Securities or portions thereof to be redeemed on such sinking fund payment
date pursuant to this Section&nbsp;1203. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, with respect to a sinking fund for any series of Securities, if at any time the amount of cash to be paid into such sinking fund on the next succeeding
sinking fund payment date, together with any unused balance of any preceding sinking fund payment or payments for such series, does not exceed in the aggregate $100,000, the Trustee, unless requested
by the Company, shall not give the next succeeding notice of the redemption of Securities of such series through the operation of the sinking fund. Any such unused balance of moneys deposited in such
sinking fund shall be added to the sinking fund payment for such series to be made in cash on the next succeeding sinking fund payment date or, at the request of the Company, shall be applied at any
time or from time to time to the purchase of Securities of such series, by public or private purchase, in the open market or otherwise, at a purchase price for such Securities (excluding accrued
interest and brokerage commissions, for which the Trustee or any Paying Agent will be reimbursed by the Company) not in excess of the principal amount&nbsp;thereof. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE THIRTEEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> REPAYMENT AT OPTION OF HOLDERS  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1301.&nbsp;&nbsp;&nbsp;&nbsp;Applicability of Article.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the terms of such Securities
and (except as otherwise specified as contemplated by Section&nbsp;301 for&nbsp;Securities of any series) in accordance with this&nbsp;Article. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1302.&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Securities.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the terms of such
Securities, be repaid at a price equal to the principal amount thereof, together with interest, if any, thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities.
The Company covenants that on or before the Repayment Date it will deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section&nbsp;1003) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section&nbsp;301 for&nbsp;the
Securities of such series and except, if applicable, as provided in Sections&nbsp;312(b), 312(d) and&nbsp;312(e)) sufficient to pay the principal (or, if so provided by the terms of the Securities
of any series, a percentage of the principal) of and (except if the Repayment Date shall be an Interest Payment Date) accrued interest, if any, on, all the Securities or portions thereof, as the case
may be, to be repaid on such&nbsp;date. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>83</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1303.&nbsp;&nbsp;&nbsp;&nbsp;Exercise of Option.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series subject to repayment at the option of the Holders thereof will contain an "Option to Elect Repayment" form on the reverse of such
Securities. To be repaid at the option of the Holder, any Security so providing for such repayment, with the "Option to Elect Repayment" form on the reverse of such Security duly completed by the
Holder (or&nbsp;by the Holder's attorney duly authorized in writing), must be received by the Company at the Place of Payment therefor specified in the terms of such Security (or&nbsp;at such
other place or places or which the Company shall from time to time notify the Holders of such Securities) not earlier than 45&nbsp;days nor later than 30&nbsp;days prior to the Repayment Date. If
less than the entire principal amount of such Security is to be repaid in accordance with the terms of such Security, the principal amount of such Security to be repaid, in increments of the minimum
denomination for Securities of such series, and the denomination or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such Security
surrendered that is not to be repaid, must be specified. The principal amount of any Security providing for repayment at the option of the Holder thereof may not be repaid in part if, following such
repayment, the unpaid principal amount of such Security would be less than the minimum authorized denomination of Securities of the series of which such Security to be repaid is a part. Except as
otherwise may be provided by the terms of any Security providing for repayment at the option of the Holder thereof, exercise of the repayment option by the Holder shall be irrevocable unless waived by
the&nbsp;Company. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1304.&nbsp;&nbsp;&nbsp;&nbsp;When Securities Presented for Repayment Become Due and Payable.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of any series providing for repayment at the option of the Holders thereof shall have been surrendered as provided in this Article and as provided
by or pursuant to the terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable and shall be paid by the Company on the Repayment
Date therein specified, and on and after such Repayment Date (unless the Company shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were
interest-bearing, cease to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be repaid, except to the extent provided below, shall be void. Upon surrender of
any such Security for repayment in accordance with such provisions, together with all coupons, if any, appertaining thereto maturing after the Repayment Date, the principal amount of such Security so
to be repaid shall be paid by the Company, together with accrued interest, if any, to the Repayment Date; <U>provided</U>, <U>however</U>, that coupons
whose Stated Maturity is on or prior to the Repayment Date shall be payable only at an office or agency located outside the United&nbsp;States (except as otherwise provided in Section&nbsp;1002)
and, unless otherwise specified pursuant to Section&nbsp;301, only upon presentation and surrender of such coupons; and <U>provided further</U> that, in the case of Registered
Securities, installments of interest, if any, whose Stated Maturity is on or prior to the Repayment Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section&nbsp;307. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>84</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant coupons maturing after the Repayment Date, such Security may be paid after deducting from the
amount payable therefor as provided in Section&nbsp;1302 an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the
Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been made as provided in the preceding sentence, such Holder shall be entitled to
receive the amount so deducted; <U>provided</U>, <U>however</U>, that interest represented by coupons shall be payable only at an office or agency located
outside the United&nbsp;States (except as otherwise provided in Section&nbsp;1002) and, unless otherwise specified as contemplated by Section&nbsp;301, only upon presentation and surrender of
those&nbsp;coupons. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the principal amount of any Security surrendered for repayment shall not be so repaid upon surrender thereof, such principal amount (together with interest, if any, thereon accrued to
such Repayment Date) shall, until paid, bear interest from the Repayment Date at the rate of interest or Yield to Maturity (in&nbsp;the case of Original Issue Discount Securities) set forth in
such&nbsp;Security. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION&nbsp;1305.&nbsp;&nbsp;&nbsp;&nbsp;Securities Repaid in Part.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender of any Registered Security which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate and deliver to the
Holder of such Security, without service charge and at the expense of the Company, a new Registered Security or Securities of the same series, of any authorized denomination specified by the Holder,
in an aggregate principal amount equal to and in exchange for the portion of the principal of such Security so surrendered which is not to be&nbsp;repaid. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE FOURTEEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> DEFEASANCE AND COVENANT DEFEASANCE  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1401.&nbsp;&nbsp;&nbsp;&nbsp;Company's Option to Effect Defeasance or Covenant Defeasance.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as contemplated by Section&nbsp;301 for&nbsp;Securities of any series, the provisions of this Article Fourteen shall apply to
each series of Securities, and the Company may, at its option, effect defeasance of the Securities of or within a series under Section&nbsp;1402, or covenant defeasance of or within a series under
Section&nbsp;1403 in accordance with the terms of such Securities and in accordance with this&nbsp;Article. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>85</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1402.&nbsp;&nbsp;&nbsp;&nbsp;Defeasance and Discharge.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Company's exercise of the above option applicable to this Section with respect to any Securities of or within a series, the Company shall be deemed to
have been discharged from its obligations with respect to such Outstanding Securities and any related coupons on the date the conditions set forth in Section&nbsp;1404 are satisfied (hereinafter,
"</FONT><FONT SIZE=2><B>defeasance</B></FONT><FONT SIZE=2>"). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented
by such Outstanding Securities and any related coupons, which shall thereafter be deemed to be "Outstanding" only for the purposes of Section&nbsp;1405 and&nbsp;the other Sections of this
Indenture referred to in (A)&nbsp;and (B)&nbsp;below, and to have satisfied all its other obligations under such Securities and any related coupons and this Indenture insofar as such Securities
and any related coupons are concerned (and&nbsp;the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive
until otherwise terminated or discharged hereunder: (A)&nbsp;the rights of Holders of such Outstanding Securities and any related coupons to receive, solely from the trust fund described in
Section&nbsp;1404 and&nbsp;as more fully set forth in such Section, payments in respect of the principal of (and&nbsp;premium, if any) and interest, if any, on such Securities and any related
coupons when such payments are due, (B)&nbsp;the Company's obligations with respect to such Securities under Sections&nbsp;304, 305, 306, 1002 and&nbsp;1003 and with respect to the payment of
Additional Amounts, if any, on such Securities as contemplated by Section&nbsp;1005, (C)&nbsp;the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D)&nbsp;this Article
Fourteen. Subject to compliance with this Article Fourteen, the Company may exercise its option under this Section&nbsp;1402 notwithstanding the prior exercise of its option under
Section&nbsp;1403 with respect to such Securities and any related coupons. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1403.&nbsp;&nbsp;&nbsp;&nbsp;Covenant Defeasance.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Company's exercise of the above option applicable to this Section with respect to any Securities of or within a series, the Company shall be released
from its obligations under Section&nbsp;803 and Sections&nbsp;1006 through&nbsp;1009, and, if specified pursuant to Section&nbsp;301, its obligations under any other covenant, with respect to
such Outstanding Securities and any related coupons on and after the date the conditions set forth in Section&nbsp;1404 are satisfied (hereinafter, "</FONT><FONT SIZE=2><B>covenant
defeasance</B></FONT><FONT SIZE=2>"), and such Securities and any related coupons shall thereafter be deemed not to be "Outstanding" for the purposes of any direction, waiver, consent or declaration
or Act of Holders (and&nbsp;the consequences of any thereof) in connection with such covenants, but shall continue to be deemed "Outstanding" for all other purposes hereunder. For this purpose, such
covenant defeasance means that, with respect to such Outstanding Securities and any related coupons, the Company may omit to comply with and shall have no liability in respect of any term, condition
or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of reference in any such covenant to any
other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section&nbsp;501(3) or Section&nbsp;501(7)
or&nbsp;otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any related coupons shall be unaffected thereby. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>86</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1404.&nbsp;&nbsp;&nbsp;&nbsp;Conditions to Defeasance or Covenant Defeasance.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following shall be the conditions to application of either Section&nbsp;1402 or Section&nbsp;1403 to&nbsp;any Outstanding Securities of or within a
series and any related coupons: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;The
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or&nbsp;another trustee satisfying the requirements of Section&nbsp;607 who
shall agree to comply with the provisions of this Article Fourteen applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and
dedicated solely to, the benefit of the Holders of such Securities and any related coupons, (A)&nbsp;an amount (in&nbsp;such Currency in which such Securities and any related coupons are then
specified as payable at Stated Maturity), or (B)&nbsp;Government Obligations applicable to such Securities (determined on the basis of the Currency in which such Securities are then specified as
payable at Stated Maturity) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of
any payment of principal of and premium, if any, and interest, if any, under such Securities and any related coupons, money in an amount, or (C)&nbsp;a combination thereof, sufficient, in the
opinion of a nationally recognized firm of independent chartered accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or&nbsp;other qualifying trustee) to pay and discharge, (i)&nbsp;the principal of (and&nbsp;premium, if any) and interest, if any, on such Outstanding Securities and any related
coupons on the Stated Maturity (or&nbsp;Redemption Date, if applicable) of such principal (and&nbsp;premium, if any) or installment of interest, if any, and (ii)&nbsp;any mandatory sinking fund
payments or analogous payments applicable to such Outstanding Securities and any related coupons on the day on which such payments are due and payable in accordance with the terms of this Indenture
and of such Securities and any related coupons; <U>provided</U> that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such Government
Obligations to said payments with respect to such Securities and any related coupons. Before such a deposit, the Company may give to the Trustee, in accordance with Section&nbsp;1102 hereof, a
notice of its election to redeem all or any portion of such Outstanding Securities at a future date in accordance with the terms of the Securities of such series and Article Eleven hereof, which
notice shall be irrevocable. Such irrevocable redemption notice, if given, shall be given effect in applying the&nbsp;foregoing. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;No
Default or Event of Default with respect to such Securities or any related coupons shall have occurred and be continuing on the date of such deposit or, insofar as
paragraphs&nbsp;(5) and&nbsp;(6) of Section&nbsp;501 are concerned, at any time during the period ending on the 91<SUP>st</SUP>&nbsp;day after the date of such deposit (it&nbsp;being
understood that this condition shall not be deemed satisfied until the expiration of such&nbsp;period). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;Such
defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or
instrument to which the Company is a party or by which it is&nbsp;bound. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;In
the case of an election under Section&nbsp;1402, the Company shall have delivered to the Trustee an Opinion of Counsel in the United&nbsp;States stating that
(x)&nbsp;the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y)&nbsp;since the date of execution of this Indenture, there has been a change in
the applicable U.S.&nbsp;federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such Outstanding Securities and any related
coupons will not recognize income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such defeasance had not&nbsp;occurred. </FONT></P>

</UL>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;Notwithstanding
any other provisions of this Section, such defeasance or covenant defeasance shall be effected in compliance with any additional or substitute terms,
conditions or limitations in connection therewith pursuant to Section&nbsp;301. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;&nbsp;&nbsp;The
Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to
either the defeasance under Section&nbsp;1402 or&nbsp;the covenant defeasance under Section&nbsp;1403 (as&nbsp;the case may be) have been complied&nbsp;with. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;&nbsp;&nbsp;In
the case of an election under Section&nbsp;1403, the Company shall have delivered to the Trustee an Opinion of Counsel in the United&nbsp;States to the effect
that the Holders of such Outstanding Securities will not recognize income, gain or loss for U.S.&nbsp;federal income tax purposes as a result of such covenant defeasance and will be subject to
U.S.&nbsp;federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not&nbsp;occurred. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;&nbsp;&nbsp;Either
the Company has delivered to the Trustee an Opinion of Counsel in Canada or a ruling from Canada Customs and Revenue Agency to the effect that the Holders of such
Outstanding Securities will not recognize income, gain or loss for Canadian federal, provincial or territorial income tax or other tax purpose as a result of such defeasance or covenant defeasance and
will be subject to Canadian federal or provincial income tax and other tax on the same amounts, in the same manner and at the same times as would have been the case had such defeasance not occurred
(and&nbsp;for the purposes of such opinion, such Canadian counsel shall assume that Holders of the Securities include Holders who are not resident in&nbsp;Canada). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;&nbsp;&nbsp;The
Company is not an "insolvent person" within the meaning of the </FONT><FONT SIZE=2><I>Bankruptcy and Insolvency Act</I></FONT><FONT SIZE=2> (Canada) on the date of
such deposit or at any time during the period ending on the 91<SUP>st</SUP>&nbsp;day after the date of such deposit (it&nbsp;being understood that this condition shall not be deemed satisfied
until the expiration of such&nbsp;period). </FONT></P>

<P><FONT SIZE=2><B> SECTION 1405.&nbsp;&nbsp;&nbsp;&nbsp;Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the last paragraph of Section&nbsp;1003, all money and Government Obligations (or&nbsp;other property as may be provided pursuant
to Section&nbsp;301) (including the proceeds thereof) deposited with the Trustee (or&nbsp;other qualifying trustee, collectively for purposes of this Section&nbsp;1405, the "Trustee") pursuant
to Section&nbsp;1404 in respect of such Outstanding Securities and any related coupons shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any
related coupons and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of
such Securities and any related coupons of all sums due and to become due thereon in respect of principal (and&nbsp;premium, if any) and interest, if any, but such money need not be segregated from
other funds except to the extent required by&nbsp;law. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>88</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified with respect to any Security pursuant to Section&nbsp;301, if, after a deposit referred to in Section&nbsp;1404(1) has been made, (a)&nbsp;the Holder of
a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section&nbsp;312(b) or&nbsp;the terms of such Security to receive payment in a Currency other than
that in which the deposit pursuant to Section&nbsp;1404(1) has been made in respect of such Security, or (b)&nbsp;a Conversion Event occurs as contemplated in Section&nbsp;312(d)
or&nbsp;312(e) or by the terms of any Security in respect of which the deposit pursuant to Section&nbsp;1404(1) has been made, the indebtedness represented by such Security and any related coupons
shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and&nbsp;premium, if any) and interest, if any, on such Security as they become due
out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the Currency
in which such Security becomes payable as a result of such election or Conversion Event based on the applicable Market Exchange Rate for such Currency in effect on the third Business Day prior to each
payment date, except, with respect to a Conversion Event, for such Currency in effect (as&nbsp;nearly as feasible) at the time of the Conversion Event. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section&nbsp;1404
or&nbsp;the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities and any
related coupons. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anything
in this Article Fourteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government
Obligations (or&nbsp;other property and any proceeds therefrom) held by it as provided in Section&nbsp;1404 which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant
defeasance, as applicable, in accordance with this&nbsp;Article. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1406.&nbsp;&nbsp;&nbsp;&nbsp;Reinstatement.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Trustee or any Paying Agent is unable to apply any money in accordance with Section&nbsp;1405 by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company's obligations under this Indenture and such Securities and any related coupons shall be
revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;1402 or&nbsp;1403, as the case may be, until such time as the Trustee or Paying Agent is permitted to apply all
such money in accordance with Section&nbsp;1405; <U>provided</U>, <U>however</U>, that if the Company makes any payment of principal of
(or&nbsp;premium, if any) or interest, if any, on any such Security or any related coupon following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders
of such Securities and any related coupons to receive such payment from the money held by the Trustee or Paying&nbsp;Agent. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>89</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B>ARTICLE FIFTEEN  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> MEETINGS OF HOLDERS OF SECURITIES  </B></FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1501.&nbsp;&nbsp;&nbsp;&nbsp;Purposes for Which Meetings May Be Called.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of a series are issuable as Bearer Securities, a meeting of Holders of Securities of such series may be called at any time and from time to time
pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders
of Securities of such&nbsp;series. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1502.&nbsp;&nbsp;&nbsp;&nbsp;Call, Notice and Place of Meetings.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The
Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section&nbsp;1501, to be held at such time and at such
place in The City of New&nbsp;York or in London as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting
and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided for in Section&nbsp;106, not less than 21&nbsp;nor more than 180&nbsp;days prior to
the date fixed for the&nbsp;meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;In
case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in principal amount of the Outstanding Securities of any series shall
have requested the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in Section&nbsp;1501, by written request setting forth in reasonable detail the
action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21&nbsp;days after receipt of such request or shall not
thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the
time and the place in The City of New&nbsp;York or in London for such meeting and may call such meeting for such purposes by giving notice thereof as provided in paragraph&nbsp;(a) of
this&nbsp;Section. </FONT></P>

<UL>

<P><FONT SIZE=2><B> SECTION 1503.&nbsp;&nbsp;&nbsp;&nbsp;Persons Entitled to Vote at Meetings.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1)&nbsp;a Holder of one or more Outstanding Securities of such
series, or (2)&nbsp;a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder of Holders. The only Persons
who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Person entitled to vote at such meeting and their counsel, any representatives of the
Trustee and its counsel and any representatives of the Company and its&nbsp;counsel. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>90</FONT></P>

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<UL>

<P><FONT SIZE=2><B> SECTION 1504.&nbsp;&nbsp;&nbsp;&nbsp;Quorum; Action.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of Holders of
Securities of such series; <U>provided</U>, <U>however</U>, that, if any action is to be taken at such meeting with respect to a consent or waiver which
this Indenture expressly provides may be given by the Holders of not less than a specified percentage in principal amount of the Outstanding Securities of a series, the Persons entitled to vote such
specified percentage in principal amount of the Outstanding Securities of such series shall constitute a quorum. In the absence of a quorum within 30&nbsp;minutes of the time appointed for any such
meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any other case the meeting may be adjourned for a period of not less than
10&nbsp;days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further
adjourned for a period of not less than 10&nbsp;days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned
meeting shall be given as provided in Section&nbsp;1502(a), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of any adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall
constitute a&nbsp;quorum. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the foregoing, at the reconvening of any meeting adjourned for lack of a quorum the Persons entitled to vote 25% in principal amount of the Outstanding Securities at the time
shall constitute a quorum for the taking of any action set forth in the notice of the original meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as limited by the proviso to Section&nbsp;902, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be
adopted by the affirmative vote of the Holders of not less than a majority in principal amount of the Outstanding Securities of such series who have cast their votes;
<U>provided</U>, <U>however</U>, that, except as limited by the proviso to Section&nbsp;902, any resolution with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a
majority, in principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the
affirmative vote of the Holders of not less than such specified percentage in principal amount of the Outstanding Securities of such&nbsp;series. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities
of such series and the related coupons, whether or not present or represented at the&nbsp;meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing provisions of this Section&nbsp;1504, if any action is to be taken at a meeting of Holders of Securities of any series with respect to any request,
demand, authorization, direction, notice, consent, waiver or other action that this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage in principal
amount of all Outstanding Securities affected thereby, or of the Holders of such series and one or more additional series: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>there
shall be no minimum quorum requirement for such meeting; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>the
principal amount of the Outstanding Securities of such series that vote in favor of such request, demand, authorization, direction, notice, consent, waiver or other
action shall be taken into account in determining whether such request, demand, authorization, direction, notice, consent, waiver or other action has been made, given or taken under
this&nbsp;Indenture. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>91</FONT></P>

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</UL>
</UL>
<UL>

<P><FONT SIZE=2><B> SECTION 1505.&nbsp;&nbsp;&nbsp;&nbsp;Determination of Voting Rights; Conduct and Adjournment of Meetings.  </B></FONT></P>

<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>Notwithstanding
any provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Securities of a
series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as its shall deem appropriate. Except as otherwise permitted
or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section&nbsp;104 and&nbsp;the appointment of any proxy shall be proved in the manner
specified in Section&nbsp;104 or&nbsp;by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section&nbsp;104
to&nbsp;certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the
proof specified in Section&nbsp;104 or&nbsp;other&nbsp;proof.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>The
Trustee shall, by an instrument in writing appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of
Securities as provided in Section&nbsp;1502(b), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary
chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such
series represented at the&nbsp;meeting.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>At
any meeting each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount of Outstanding Securities of such
series held or represented by him (determined as specified in the definition of "Outstanding" in Section&nbsp;101); <U>provided</U>, <U>however</U>, that
no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting
shall have no right to vote, except as a Holder of a Security of such series or&nbsp;proxy.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD><FONT SIZE=2>Any
meeting of Holders of Securities of any series duly called pursuant to Section&nbsp;1502 at which a quorum is present may be adjourned from time to time by
Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without
further&nbsp;notice. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>92</FONT></P>

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<UL>
<UL>
</UL>

<P><FONT SIZE=2><B> SECTION 1506.&nbsp;&nbsp;&nbsp;&nbsp;Counting Votes and Recording Action of Meetings.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the
signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or
represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file
with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of
Securities of any series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken
thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section&nbsp;1502
and, if applicable, Section&nbsp;1504. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the
Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein&nbsp;stated. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and
the same&nbsp;Indenture. </FONT></P>

<UL>


<P><FONT SIZE=2><B> SECTION 1507.&nbsp;&nbsp;&nbsp;&nbsp;Waiver of Jury Trial.  </B></FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and the Trustee hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal
proceeding arising out of or relating to this Indenture, the Securities or the transactions contemplated hereby. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>93</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as of the day and year first above&nbsp;written. </FONT></P>

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<TD WIDTH="44%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>SUNCOR ENERGY&nbsp;INC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="50%"><BR><HR NOSHADE><FONT SIZE=2> Name:<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="44%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2><BR>
THE BANK OF NEW YORK,<BR>
as Trustee</FONT></TD>
</TR>
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<TD WIDTH="44%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="50%"><BR><HR NOSHADE><FONT SIZE=2> Name:<BR>
Title:&nbsp;&nbsp;<BR></FONT>
</TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>94</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_do3742_1_1"> </A> </FONT> <FONT SIZE=2><B>EXHIBIT A  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>FORMS
OF CERTIFICATION </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>EXHIBIT A-1  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>FORM
OF CERTIFICATE TO BE GIVEN BY<BR>
PERSON ENTITLED TO RECEIVE BEARER SECURITY<BR>
OR TO OBTAIN INTEREST PAYABLE PRIOR<BR>
TO THE EXCHANGE DATE </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>CERTIFICATE
</FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>SUNCOR
ENERGY INC<BR>
% Notes due </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is to certify that as of the date hereof, and except as set forth below, the above-captioned Securities held by you for our account (i)&nbsp;are owned by any person(s) that is not
a citizen or resident of the United&nbsp;States; a corporation or partnership (including any entity treated as a corporation or partnership for United&nbsp;States federal income tax purposes)
created or organized in or under the laws of the United&nbsp;States, any state thereof or the District of Columbia unless, in the case of a partnership, Treasury Regulations provide otherwise; any
estate whose income is subject to United&nbsp;States federal
income tax regardless of its source or; a trust if (A)&nbsp;a United&nbsp;States court can exercise primary supervision over the trust's administration and one of more United&nbsp;States persons
are authorized to control all substantial decisions of the trust or (B)&nbsp;a trust in existence on August&nbsp;20, 1996, and treated as a United&nbsp;States person before this date that timely
elected to continue to be treated as a United&nbsp;States person ("</FONT><FONT SIZE=2><B>United&nbsp;States persons(s)</B></FONT><FONT SIZE=2>"), (ii)&nbsp;are owned by United&nbsp;States
person(s) that are (a)&nbsp;foreign branches of United&nbsp;States financial institutions (financial institutions, as defined in United&nbsp;States Treasury Regulation
Section&nbsp;1.165-12(c)(1)(v) are herein referred to as "</FONT><FONT SIZE=2><B>financial institutions</B></FONT><FONT SIZE=2>") purchasing for their own account or for resale, or
(b)&nbsp;United&nbsp;States person(s) who acquired the Securities through foreign branches of United&nbsp;States financial institutions and who hold the Securities through such
United&nbsp;States financial institutions on the date hereof (and&nbsp;in either case (a)&nbsp;or (b), each such United&nbsp;States financial institution hereby agrees, on its own behalf or
through its agent, that you may advise Suncor Energy&nbsp;Inc. or its agent that such financial institution will comply with the requirements of Section&nbsp;165(j)(3)(A), (B)&nbsp;or&nbsp;(C)
of the United&nbsp;States Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (iii)&nbsp;are owned by United&nbsp;States or foreign financial institution(s) for
purposes of resale during the restricted period (as&nbsp;defined in United&nbsp;States Treasury Regulation Section&nbsp;1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a
United&nbsp;States or foreign financial institution described in clause&nbsp;(iii) above (whether or not also described in clause&nbsp;(i) or&nbsp;(ii)), this is to further certify that such
financial institution has not acquired the Securities for purposes of resale directly or indirectly to a United&nbsp;States person or to a person within the United&nbsp;States or its possessions. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>A-1-1</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used herein, "United&nbsp;States" means the United&nbsp;States of America (including the states and the District of Columbia); and its "possessions" include Puerto Rico, the
U.S.&nbsp;Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
undertake to advise you promptly by tested telex on or prior to the date on which you intend to submit your certification relating to the above-captioned Securities held by you for
our account in accordance with your Operating Procedures if any applicable statement herein is not correct on such date, and in the absence of any such notification it may be assumed that this
certification applies as of such&nbsp;date. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
certificate excepts and does not relate to U.S.$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;of such interest in the above-captioned Securities in
respect of which we are not able to certify and as to which we
understand an exchange for an interest in a Permanent Global Security or an exchange for and delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made until we do
so&nbsp;certify. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
understand that this certificate may be required in connection with certain tax legislation in the United&nbsp;States. If administrative or legal proceedings are commenced or
threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such proceedings. </FONT></P>

<P><FONT SIZE=2>Dated:
</FONT></P>

<P><FONT SIZE=2><B>[To be dated no earlier than the 15<SUP>th</SUP>&nbsp;day<BR>
prior to (i)&nbsp;the Exchange Date or (ii)&nbsp;the<BR>
relevant Interest Payment Date occurring<BR>
prior to the Exchange Date, as applicable]</B></FONT></P>

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<TD WIDTH="50%"><FONT SIZE=2><B>[Name of Person Making Certification]</B></FONT></TD>
</TR>
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<TD WIDTH="44%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="50%"><BR><HR NOSHADE><FONT SIZE=2> (Authorized Signatory)<BR>
Name:<BR>
Title:&nbsp;&nbsp;<BR></FONT>
</TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>A-1-2</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dq3742_1_1"> </A> </FONT> <FONT SIZE=2><B>EXHIBIT A-2  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>FORM
OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM<BR>
IN CONNECTION WITH THE EXCHANGE OF A PORTION OF A<BR>
TEMPORARY GLOBAL SECURITY OR TO OBTAIN INTEREST<BR>
PAYABLE PRIOR TO THE EXCHANGE DATE </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>CERTIFICATE
</FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>SUNCOR
ENERGY&nbsp;INC.<BR>
% Notes due </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is to certify that based solely on written certifications that we have received in writing, by tested telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth below (our&nbsp;"</FONT><FONT SIZE=2><B>Member Organizations</B></FONT><FONT SIZE=2>") substantially in the form attached
hereto, as of the date hereof, U.S.$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;principal amount of the above-captioned Securities (i)&nbsp;is owned by any person(s) that is not a citizen or resident of the
United&nbsp;States; a corporation or partnership (including any entity treated as a corporation or partnership for United&nbsp;States federal income tax purposes) created or organized in or under
the laws of the United&nbsp;States, any state thereof or the District of Columbia unless, in the case of a partnership, Treasury Regulations provide otherwise; any estate whose income is subject to
United&nbsp;States federal income tax regardless of its source or; a trust if (A)&nbsp;a United&nbsp;States court can exercise primary supervision over the trust's administration and one of more
United&nbsp;States persons are authorized to control all substantial decisions of the trust or (B)&nbsp;a trust in existence on August&nbsp;20, 1996, and treated as a United&nbsp;States person
before this date that timely elected to continue to be treated as a United&nbsp;States person ("</FONT><FONT SIZE=2><B>United&nbsp;States person(s)</B></FONT><FONT SIZE=2>"), (ii)&nbsp;is owned
by United&nbsp;States person(s) that are (a)&nbsp;foreign branches of United&nbsp;States financial institutions (financial institutions, as defined in U.S.&nbsp;Treasury Regulation
Section&nbsp;1.165-12(c)(1)(v) are herein referred to as "</FONT><FONT SIZE=2><B>financial institutions</B></FONT><FONT SIZE=2>") purchasing for their own account or for resale, or
(b)&nbsp;United&nbsp;States person(s) who acquired the Securities through foreign branches of United&nbsp;States financial institutions and who hold the Securities through such
United&nbsp;States financial institutions on the date hereof (and&nbsp;in either case (a)&nbsp;or (b), each such financial institution has agreed, on its own behalf or through its agent, that we
may advise Suncor Energy&nbsp;Inc. or its agent that such financial institution will comply with the requirements of Section&nbsp;165(j)(3)(A), (B)&nbsp;or&nbsp;(C) of the Internal Revenue
Code of 1986, as amended, and the regulations thereunder), or
(iii)&nbsp;is owned by United&nbsp;States or foreign financial institution(s) for purposes of resale during the restricted period (as&nbsp;defined in United&nbsp;States Treasury Regulation
Section&nbsp;1.163-5(c)(2)(i)(D)(7)) and, to&nbsp;the further effect, that financial institutions described in clause&nbsp;(iii) above (whether or not also described in
clause&nbsp;(i) or&nbsp;(ii)) have certified that they have not acquired the Securities for purposes of resale directly or indirectly to a United&nbsp;States person or to a person within the
United&nbsp;States or its possessions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used herein, "United&nbsp;States" means the United&nbsp;States of America (including the states and the District of Columbia); and its "possessions" include Puerto Rico, the
U.S.&nbsp;Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>A-2-1</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
further certify that (i)&nbsp;we are not making available herewith for exchange (or, if relevant, collection of any interest) any portion of the temporary global Security
representing the above-captioned Securities excepted in the above-referenced certificates of Member Organizations and (ii)&nbsp;as of the date hereof we have not received any notification from any
of our Member Organizations to the effect that the statements made by such Member Organizations with respect to any portion of the part submitted herewith for exchange (or, if relevant, collection of
any interest) are no longer true and cannot be relied upon as of the date&nbsp;hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
understand that this certification is required in connection with certain tax legislation in the United&nbsp;States. If administrative or legal proceedings are commenced or
threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such proceedings. </FONT></P>


<P><FONT SIZE=2>Dated: </FONT></P>

<P><FONT SIZE=2>[To
be dated no earlier than the Exchange<BR>
Date or the relevant Interest Payment Date<BR>
occurring prior to the Exchange Date, as<BR>
applicable] </FONT></P>

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<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>[MORGAN GUARANTY TRUST COMPANY OF NEW YORK, BRUSSELS OFFICE, as Operator of the Euroclear System]<BR>
[CLEARSTREAM]</FONT></TD>
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<TD WIDTH="44%"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="50%"><BR><HR NOSHADE><FONT SIZE=2> Name:<BR>
Title:&nbsp;&nbsp;<BR></FONT>
</TD>
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<P ALIGN="CENTER"><FONT SIZE=2>A-2-2</FONT></P>

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<DOCUMENT>
<TYPE>EX-7.2
<SEQUENCE>6
<FILENAME>a2176157zex-7_2.htm
<DESCRIPTION>EXHIBIT 7.2
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
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<FONT SIZE=3 ><A HREF="#07ZAC3742_6">QuickLinks</A></FONT>
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit 7.2  </B></FONT></P>


<P><FONT SIZE=2><hr
noshade width=100% align=left size=4>
<hr noshade width=100% align=left size=1> </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>FORM T-1  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>STATEMENT OF ELIGIBILITY<BR>
UNDER THE TRUST INDENTURE ACT OF&nbsp;1939 OF A<BR>
CORPORATION DESIGNATED TO ACT AS TRUSTEE  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> CHECK IF AN APPLICATION TO DETERMINE<BR>
ELIGIBILITY OF A TRUSTEE PURSUANT TO<BR>
SECTION 305(b)(2)&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=4><B>THE BANK OF NEW YORK<BR>  </B></FONT><FONT SIZE=2>(Exact name of trustee as specified in its charter) </FONT></P>

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<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>New&nbsp;York</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>13-5160382</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(State of incorporation if not a U.S.&nbsp;national bank)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(I.R.S. employer identification no.)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><BR><FONT SIZE=2><B>One Wall Street, New&nbsp;York, NY</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B><BR>
10286</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(Address of principal executive offices)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(Zip code)</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=4><B>SUNCOR ENERGY&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Exact name of obligor as specified in its charter) </FONT></P>

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<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>Canada</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B>98-0343201</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(State or other jurisdiction of incorporation or organization)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(I.R.S. employer identification&nbsp;no.)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><BR><FONT SIZE=2><B>112 - 4th&nbsp;Avenue S.W., Box&nbsp;38<BR>
Calgary, Alberta Canada, T2P&nbsp;2V5</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2><B><BR>
&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(Address of principal executive offices)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="CENTER"><FONT SIZE=2>(Zip&nbsp;code)</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=3><B>Debt Securities<BR>  </B></FONT><FONT SIZE=2>(Title of the indenture securities) </FONT></P>

<P><FONT SIZE=2><hr
noshade width=100% align=left size=1>
<hr noshade width=100% align=left size=4> </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>

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<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><B>1.</B></FONT></DT><DD><FONT SIZE=2><B>General information. Furnish the following information as to the Trustee:
<BR><BR> </B></FONT>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><B>(a)</B></FONT></DT><DD><FONT SIZE=2><B> Name and address of each examining or supervising authority to which it is&nbsp;subject.</B></FONT></DD></DL>
</DD></DL>
<BR>

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<TH WIDTH="60%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="38%" ALIGN="LEFT"><FONT SIZE=1><B>Address<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%"><FONT SIZE=2>Superintendent of Banks of the State of New&nbsp;York</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="38%"><FONT SIZE=2>One State Street, New&nbsp;York, N.Y. 10004-1417,<BR>
and Albany, N.Y. 12223</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%"><BR><FONT SIZE=2> Federal Reserve Bank of New&nbsp;York</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="38%"><FONT SIZE=2><BR>
33&nbsp;Liberty Street, New&nbsp;York, N.Y. 10045</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%"><BR><FONT SIZE=2> Federal Deposit Insurance Corporation</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="38%"><FONT SIZE=2><BR>
Washington,&nbsp;D.C. 20429</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="60%"><BR><FONT SIZE=2> New&nbsp;York Clearing House Association</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="38%"><FONT SIZE=2><BR>
New&nbsp;York, New&nbsp;York 10005</FONT></TD>
</TR>
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<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><B>(b)</B></FONT></DT><DD><FONT SIZE=2><B>Whether it is authorized to exercise corporate trust powers.</B></FONT></DD></DL>
</UL>
<UL>
<UL>

<P><FONT SIZE=2>Yes.
</FONT></P>

</UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><B>2.</B></FONT></DT><DD><FONT SIZE=2><B>Affiliations with Obligor.  </B></FONT></DD></DL>
<UL>

<P><FONT SIZE=2><B>If the obligor is an affiliate of the trustee, describe each such affiliation.</B></FONT></P>

<P><FONT SIZE=2>None. </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2><B>16.</B></FONT></DT><DD><FONT SIZE=2><B>List of Exhibits.  </B></FONT></DD></DL>
<UL>

<P><FONT SIZE=2><B>Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to
Rule&nbsp;7a-29&nbsp;under the Trust Indenture Act of 1939 (the&nbsp;"Act") and 17&nbsp;C.F.R. 229.10(d).</B></FONT></P>

<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>A
copy of the Organization Certificate of The Bank of New&nbsp;York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of
powers to exercise corporate trust powers. (Exhibit&nbsp;1 to&nbsp;Amendment No.&nbsp;1 to Form&nbsp;T-1 filed with Registration Statement No.&nbsp;33-6215,
Exhibits&nbsp;1a and&nbsp;1b to Form&nbsp;T-1 filed with Registration Statement No.&nbsp;33-21672, Exhibit&nbsp;1 to Form&nbsp;T-1 filed with
Registration Statement No.&nbsp;33-29637 and Exhibit&nbsp;1 to Form&nbsp;T-1 filed with Registration Statement No.&nbsp;333-121195.)
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD><FONT SIZE=2>A
copy of the existing By-laws of the Trustee. (Exhibit&nbsp;4 to Form&nbsp;T-1 filed with Registration Statement No.&nbsp;333-121195.)
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>6.</FONT></DT><DD><FONT SIZE=2>The
consent of the Trustee required by Section&nbsp;321(b) of the Act. (Exhibit&nbsp;6 to Form&nbsp;T-1 filed with Registration Statement
No.&nbsp;333-106702.)
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>7.</FONT></DT><DD><FONT SIZE=2>A
copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<UL>
</UL>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ec3742_signature"> </A>
<A NAME="toc_ec3742_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Act, the Trustee, The Bank of New&nbsp;York, a corporation organized and existing under the laws of the State of
New&nbsp;York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New&nbsp;York, and State of
New&nbsp;York, on the 9th&nbsp;day of February,&nbsp;2007. </FONT></P>

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<TD WIDTH="40%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>THE BANK OF NEW YORK</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><BR><FONT SIZE=2>By:</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ROBERT A. MASSIMILLO</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name:&nbsp;&nbsp;ROBERT A. MASSIMILLO<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;VICE PRESIDENT<BR></FONT>
</TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_ee3742_1_4"> </A> </FONT> <FONT SIZE=2><B>Consolidated Report of Condition of  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>THE BANK OF NEW YORK  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>of One Wall Street, New&nbsp;York, N.Y. 10286<BR>
And Foreign and Domestic Subsidiaries,  </B></FONT></P>

<P><FONT SIZE=2>a
member of the Federal Reserve System, at the close of business September&nbsp;30, 2006, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the
provisions of the Federal Reserve&nbsp;Act. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="14%" ALIGN="CENTER"><FONT SIZE=1><B>Dollar Amounts<BR>
In Thousands</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2><B>ASSETS</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Cash and balances due from depository institutions:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Noninterest-bearing balances and currency and coin</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>2,478,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Interest-bearing balances</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>15,693,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Securities:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Held-to-maturity securities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>1,856,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Available-for-sale securities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>17,740,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Federal funds sold and securities purchased under agreements to resell</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Federal funds sold in domestic offices</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Securities purchased under agreements to resell</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Loans and lease financing receivables:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Loans and leases held for sale</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Loans and leases, net of unearned income</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>LESS: Allowance for loan and lease losses</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>407,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Loans and leases, net of unearned income and allowance</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Trading assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>3,011,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Premises and fixed assets (including capitalized leases)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>896,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Other real estate owned</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Investments in unconsolidated subsidiaries and associated companies</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>308,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Not applicable</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Intangible assets:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Goodwill</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>2,188,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Other intangible assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Other assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>7,975,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Total assets</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>91,155,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE>
<!-- insert table folio -->
<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>

<!-- ZEQ.=1,SEQ=4,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="6",CHK=1013330,FOLIO='4',FILE='DISK127:[07ZAE2.07ZAE3742]EE3742A.;3',USER='ATOBAK',CD='15-FEB-2007;01:47' -->
<A NAME="page_ee3742_1_5"> </A>
<!-- end of table folio -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2><B>LIABILITIES</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Deposits:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>In domestic offices</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>34,430,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Noninterest-bearing</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>16,230,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Interest-bearing</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>18,200,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>In foreign offices, Edge and Agreement subsidiaries, and IBFs</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>34,321,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Noninterest-bearing</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>399,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Interest-bearing</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>33,922,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Federal funds purchased and securities sold under agreements to repurchase</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Federal funds purchased in domestic offices</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="82%"><FONT SIZE=2>Securities sold under agreements to repurchase</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Trading liabilities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>2,224,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leases)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Not applicable</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Not applicable</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Subordinated notes and debentures</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>1,955,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Other liabilities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>6,374,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Total liabilities</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>82,119,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE SIZE=4></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Minority interest in consolidated subsidiaries</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>151,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><BR><FONT SIZE=2><B>EQUITY CAPITAL</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Perpetual preferred stock and related surplus</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>0</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Common stock</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>1,135,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Surplus (exclude all surplus related to preferred stock)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>2,115,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Retained earnings</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>5,696,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Accumulated other comprehensive income</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Other equity capital components</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>N/A</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Total equity capital</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>8,885,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>Total liabilities, minority interest, and equity capital</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>91,155,000</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><HR NOSHADE SIZE=4></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=5,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="6",CHK=555649,FOLIO='5',FILE='DISK127:[07ZAE2.07ZAE3742]EE3742A.;3',USER='ATOBAK',CD='15-FEB-2007;01:47' -->
<A NAME="page_ee3742_1_6"> </A>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
Thomas P. Gibbons, Chief Financial Officer of the above-named bank do hereby declare that this Report of Condition is true and correct to the best of my knowledge and&nbsp;belief. </FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2>Thomas
P. Gibbons,<BR>
Chief Financial Officer </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We,
the undersigned directors, attest to the correctness of this statement of resources and liabilities. We declare that it has been examined by us, and to the best of our knowledge and
belief has been prepared in conformance with the instructions and is true and&nbsp;correct. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="90%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="18%"><FONT SIZE=2>Thomas A. Renyi</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="18%"><FONT SIZE=2>Gerald L. Hassell</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=2>Directors</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="18%"><FONT SIZE=2>Catherine A. Rein</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=6,EFW="2176157",CP="SUNCOR ENERGY INC.",DN="6",CHK=709040,FOLIO='6',FILE='DISK127:[07ZAE2.07ZAE3742]EE3742A.;3',USER='ATOBAK',CD='15-FEB-2007;01:47' -->
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
