<SEC-DOCUMENT>0001047469-12-001967.txt : 20120301
<SEC-HEADER>0001047469-12-001967.hdr.sgml : 20120301
<ACCEPTANCE-DATETIME>20120301120856
ACCESSION NUMBER:		0001047469-12-001967
CONFORMED SUBMISSION TYPE:	40-F
PUBLIC DOCUMENT COUNT:		23
CONFORMED PERIOD OF REPORT:	20111231
FILED AS OF DATE:		20120301
DATE AS OF CHANGE:		20120301

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:		40-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12384
		FILM NUMBER:		12656258

	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>40-F
<SEQUENCE>1
<FILENAME>a2207617z40-f.htm
<DESCRIPTION>40-F
<TEXT>
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</FONT> <FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington,&nbsp;D.C. 20549  </B></FONT></P>

<BR>
<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=3><B>FORM 40-F  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=3><B> (Check One)  </B></FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Registration statement pursuant to Section&nbsp;12 of the Securities Exchange Act of 1934</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>or</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Annual report pursuant to Section&nbsp;13(a) or&nbsp;15(d) of the Securities Exchange Act of 1934</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>For fiscal year ended:<BR>
Commission File Number:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>December&nbsp;31, 2011<BR>
No.&nbsp;1-12384<BR></FONT>
</TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>SUNCOR ENERGY&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>
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<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>Canada</B></FONT><FONT SIZE=2><BR>
(Province or other<BR>
jurisdiction of incorporation<BR>
or organization)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> 1311,1321,2911,</B></FONT><BR>
<FONT SIZE=2><B>4613,5171,5172</B></FONT><FONT SIZE=2><BR>
(Primary standard industrial<BR>
classification code number,<BR>
if applicable)</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B> 98-0343201</B></FONT><FONT SIZE=2><BR>
(I.R.S. employer<BR>
identification number, if<BR>
applicable)</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>150&nbsp;-&nbsp;6<SUP>th</SUP>&nbsp;Avenue S.W.<BR>
Box&nbsp;2844<BR>
Calgary, Alberta, Canada T2P&nbsp;3E3<BR>
(403)&nbsp;296-8000  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>(Address and telephone number of registrant's principal executive office) </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><B>CT Corporation System<BR>
111&nbsp;Eighth Avenue<BR>
New&nbsp;York, New&nbsp;York, U.S.A. 10011<BR>
(212)&nbsp;894-8940  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2>(Name, address and telephone number of agent for service in the United&nbsp;States) </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><div
style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
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</FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities registered pursuant to Section&nbsp;12(b) of the Act: </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>Title of each class:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Name of each exchange on which<BR>
registered:</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2><B> Common shares</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2><B> New&nbsp;York Stock Exchange</B></FONT></TD>
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 <P style="font-family:times;"><FONT SIZE=2>Securities
registered or to be registered pursuant to Section&nbsp;12(g) of the Act: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>None</B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>Securities
for which there is a reporting obligation pursuant to Section&nbsp;15(d) of the&nbsp;Act: </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B>None</B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>For
annual reports, indicate by check mark the information filed with this form: </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Annual Information Form</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Annual Audited Financial Statements</FONT></TD>
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 <P style="font-family:times;"><FONT SIZE=2>Indicate
the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual&nbsp;report: </FONT></P>
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<TD style="font-family:times;"><FONT SIZE=2><B>Common Shares</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><B> As of December&nbsp;31, 2011 there were<BR>
1,558,636,368&nbsp;Common Shares issued and<BR>
outstanding</B></FONT></TD>
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<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2><B>Preferred Shares, Series&nbsp;A</B></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2><B> None</B></FONT></TD>
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 <P style="font-family:times;"><FONT SIZE=2>Indicate
by check mark whether the registrant: (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or&nbsp;15(d) of the Exchange Act during the proceeding 12&nbsp;months
(or&nbsp;for such shorter period that the registrant was required to file such reports); and (2)&nbsp;has been subject to such filing requirements in the past 90&nbsp;days. </FONT></P>
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<TD WIDTH="23%" style="font-family:times;"></TD>
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<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>Yes</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>No</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
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 <P style="font-family:times;"><FONT SIZE=2>Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to
Rule&nbsp;405 of Regulation&nbsp;S-T (&sect;232.405 of this chapter) during the preceding 12&nbsp;months (or&nbsp;for such shorter period that the registrant was required to
submit and post such&nbsp;files). </FONT></P>
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<TD WIDTH="12pt" style="font-family:times;"></TD>
<TD WIDTH="23%" style="font-family:times;"></TD>
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<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>Yes</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>No</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
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<A NAME="toc_bi70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  ANNUAL INFORMATION FORM    <BR>    </B></FONT></P>

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</FONT> <FONT COLOR="#09357A" SIZE=2>ANNUAL INFORMATION FORM DATED MARCH 1, 2012 </FONT></P>

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<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=4,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=226543,FOLIO='blank',FILE='DISK124:[12ZAL1.12ZAL49101]BE49101A.;6',USER='JDAY',CD='29-FEB-2012;16:32' -->
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_bg49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>ANNUAL INFORMATION FORM DATED MARCH 1, 2012</B></FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>TABLE OF CONTENTS</B></FONT></P>

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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADVISORIES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>1</B></FONT></TD>
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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>GLOSSARY OF TERMS AND ABBREVIATIONS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>1</B></FONT></TD>
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<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Common Industry Terms</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Common Abbreviations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Conversion Table</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4</FONT></TD>
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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>CORPORATE STRUCTURE</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>4</B></FONT></TD>
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<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Name and Incorporation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Intercorporate Relationships</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4</FONT></TD>
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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>GENERAL DEVELOPMENT OF THE BUSINESS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>6</B></FONT></TD>
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<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Overview</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Three-Year History</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>NARRATIVE DESCRIPTION OF SUNCOR'S BUSINESSES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>9</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Oil Sands</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Exploration and Production</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>15</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Refining and Marketing</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>21</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Other Suncor Businesses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24</FONT></TD>
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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SUNCOR EMPLOYEES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>24</B></FONT></TD>
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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SIGNIFICANT POLICIES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>25</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>STATEMENT OF RESERVES DATA AND OTHER OIL AND GAS INFORMATION</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>25</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Oil and Gas Reserves Tables and Notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>27</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Future Net Revenues Tables and Notes</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>34</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Additional Information Relating to Reserves Data</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>41</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>INDUSTRY CONDITIONS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>51</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>RISK FACTORS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>57</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>DIVIDENDS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>67</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>DESCRIPTION OF CAPITAL STRUCTURE</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>68</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>MARKET FOR SECURITIES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>70</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>DIRECTORS AND EXECUTIVE OFFICERS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>71</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>AUDIT COMMITTEE INFORMATION</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>74</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>LEGAL PROCEEDINGS AND REGULATORY ACTIONS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>TRANSFER AGENT AND REGISTRAR</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>MATERIAL CONTRACTS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>INTERESTS OF EXPERTS</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>DISCLOSURE PURSUANT TO THE REQUIREMENTS OF THE NEW YORK STOCK EXCHANGE</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>76</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADDITIONAL INFORMATION</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>77</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->

</B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADVISORY&nbsp;&#150;&nbsp;FORWARD-LOOKING INFORMATION</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>77</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->

</B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULES</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Schedule&nbsp;"A"&nbsp;&#150;&nbsp;Audit Committee Mandate</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>A-1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Schedule&nbsp;"B"&nbsp;&#150;&nbsp;Suncor Energy&nbsp;Inc. Policy and Procedures for Pre-Approval of Audit and Non-Audit Services</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>B-1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Schedule&nbsp;"C"&nbsp;&#150;&nbsp;Form&nbsp;51-101F2 </FONT><FONT SIZE=2><I>Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>C-1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Schedule&nbsp;"D"&nbsp;&#150;&nbsp;Form&nbsp;51-101F2 </FONT><FONT SIZE=2><I>Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>D-1</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="91%" style="font-family:;"><FONT SIZE=2>Schedule&nbsp;"E"&nbsp;&#150;&nbsp;Form&nbsp;51-101F3 </FONT><FONT SIZE=2><I>Report of Management and Directors on Reserves Data and Other Information</I></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>E-1</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT><FONT COLOR="#09357A" SIZE=1>i</FONT><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=5,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=322855,FOLIO='i',FILE='DISK124:[12ZAL1.12ZAL49101]BG49101A.;10',USER='JDAY',CD='29-FEB-2012;16:32' -->
<BR>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_bi49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADVISORIES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In this Annual Information Form (AIF), references to "we", "our", "us", "Suncor" or "the company" mean Suncor Energy&nbsp;Inc., its subsidiaries, partnerships
and joint venture investments, unless the context otherwise requires. On August&nbsp;1, 2009, Suncor completed its merger with Petro-Canada, referred to in this document as the&nbsp;"merger".
References to the "Board of Directors" or the "Board" mean the Board of Directors of Suncor Energy Inc., unless the context otherwise requires. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>All
financial information is reported in Canadian dollars, unless otherwise noted. Production volumes are presented on a working-interest basis, before royalties, unless otherwise noted. Certain
amounts in prior years may have been reclassified to conform to the current year's presentation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>References
to our 2011 audited Consolidated Financial Statements mean Suncor's audited Consolidated Financial Statements prepared in accordance with Canadian generally accepted accounting principles
(GAAP), the notes and the auditors' report, as at and for each year in the two-year period ended December&nbsp;31, 2011. References to our MD&amp;A mean Suncor's Management's Discussion and
Analysis, dated February&nbsp;23,&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Unless
otherwise noted, all financial information has been prepared in accordance with Canadian GAAP, which is within the framework of International Financial Reporting Standards (IFRS). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>This
AIF contains forward-looking information based on Suncor's current expectations, estimates, projections and assumptions. This information is subject to a number of risks and uncertainties,
including those discussed in this document in the Risk Factors section, many of which are beyond the company's control. Users of this information are cautioned that actual results may differ
materially. Refer to the Advisory&nbsp;&#150;&nbsp;Forward-Looking Information section of this AIF for information on other risk factors and the material assumptions underlying
our forward-looking information. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Information
contained in or otherwise accessible through Suncor's website www.suncor.com does not form a part of this AIF, and is not incorporated into the AIF by reference. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>GLOSSARY OF TERMS AND ABBREVIATIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Common Industry Terms</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><U>Products</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Hydrocarbons</B></FONT><FONT SIZE=2> are solids, liquids or gas made up of compounds of carbon and hydrogen, in varying proportions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Crude oil</B></FONT><FONT SIZE=2> is a mixture of pentanes (lighter hydrocarbons) and heavier hydrocarbons that exists in the liquid phase in reservoirs and remains liquid at
atmospheric pressure and temperature. Crude oil may contain small amounts of sulphur and other non-hydrocarbons, but does not include liquids obtained in the processing of
natural&nbsp;gas. </FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=2><B>Bitumen or heavy crude oil</B></FONT><FONT SIZE=2>&nbsp;is a naturally occurring viscous mixture, consisting mainly of pentanes and heavier hydrocarbons, which may not be
recoverable at a commercial rate in its naturally occurring viscous state through a well without using enhanced recovery methods. After it is extracted, bitumen or heavy crude oil may be upgraded into
crude oil and other petroleum products. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Conventional crude oil</B></FONT><FONT SIZE=2>&nbsp;is crude oil produced through wells by standard industry recovery methods. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Oil sands</B></FONT><FONT SIZE=2>&nbsp;are naturally occurring deposits of sand or sandstone, or other sedimentary rocks that contain bitumen. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Synthetic crude oil</B></FONT><FONT SIZE=2>&nbsp;(SCO) is a mixture of hydrocarbons derived by upgrading bitumen from oil sands. SCO may contain sulphur or other
non-hydrocarbon compounds and has many similarities to crude oil. SCO with lower sulphur content is referred to as </FONT><FONT SIZE=2><B>sweet synthetic crude oil</B></FONT><FONT SIZE=2>,
while SCO with higher sulphur content is referred to as </FONT><FONT SIZE=2><B> sour synthetic crude&nbsp;oil</B></FONT><FONT SIZE=2>. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>West Texas Intermediate</B></FONT><FONT SIZE=2>&nbsp;is a type of crude oil used as a benchmark in oil pricing, and is the underlying commodity of futures contracts on the
New&nbsp;York Mercantile Exchange (NYMEX). </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=2><B>Natural gas</B></FONT><FONT SIZE=2> is a mixture of lighter hydrocarbons, which at atmospheric conditions of temperature and pressure is in a gaseous&nbsp;state. </FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=2><B>Conventional natural gas</B></FONT><FONT SIZE=2>&nbsp;is natural gas produced from all geological strata, including associated, non-associated and solution gas, but
excluding coal bed methane and shale&nbsp;gas. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Non-associated gas</B></FONT><FONT SIZE=2>&nbsp;is an accumulation of natural gas in a reservoir where there is no crude oil. </FONT><FONT SIZE=2><B> Associated
gas</B></FONT><FONT SIZE=2> is the gas cap overlying a crude oil accumulation in a&nbsp;reservoir. </FONT></P>

</UL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>1</B></FONT></P>

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

<P style="font-family:;"><FONT SIZE=2><B>Solution gas</B></FONT><FONT SIZE=2>&nbsp;is natural gas dissolved in crude oil in a reservoir. </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=2><B>Natural gas liquids (NGLs)</B></FONT><FONT SIZE=2> are hydrocarbon components that can be recovered from natural gas as liquids, including, but not limited to, ethane, propane,
butanes, pentanes, plus condensate and small quantities of non-hydrocarbons. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><U>Oil and gas exploration and development processes</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Development costs</B></FONT><FONT SIZE=2> are costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and
gas from&nbsp;reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Exploration costs</B></FONT><FONT SIZE=2> are costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have
prospects that may contain oil and gas&nbsp;reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Field</B></FONT><FONT SIZE=2> is a defined geographical area consisting of one or more pools containing hydrocarbons. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Glory hole</B></FONT><FONT SIZE=2> is an excavation into the sea floor designed to protect wellhead equipment from icebergs, and which typically contains multiple wellheads. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Reservoir</B></FONT><FONT SIZE=2> is a porous and permeable subsurface rock formation that contains a separate accumulation of petroleum that is confined by impermeable rock or
water barriers and is characterized by a single pressure system. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Wells:</B></FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=2><B>Development wells</B></FONT><FONT SIZE=2>&nbsp;are drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the
depth of a stratigraphic horizon known to be&nbsp;productive. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Dry wells</B></FONT><FONT SIZE=2>&nbsp;are exploratory or development wells found to be incapable of producing either oil or gas in sufficient quantities to justify the
completion as an oil or gas well. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Exploratory wells</B></FONT><FONT SIZE=2>&nbsp;are drilled in a territory without existing proved reserves, with the intention to discover commercial reservoirs or deposits of
crude oil and/or natural gas. Exploratory wells include </FONT><FONT SIZE=2><B>appraisal wells</B></FONT><FONT SIZE=2>, which are drilled to measure the commercial potential (i.e.&nbsp;size and
quality) of a hydrocarbon discovery. Before development, an offshore discovery is likely to need several appraisal wells. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Service wells</B></FONT><FONT SIZE=2>&nbsp;are drilled or completed for the purpose of supporting production in an existing field, such as wells drilled for observation or
wells drilled for the injection of gas or&nbsp;water. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Stratigraphic wells</B></FONT><FONT SIZE=2>&nbsp;are drilling efforts, geologically directed, to obtain information pertaining to a specific geologic condition, such as </FONT> <FONT SIZE=2><B>core hole drilling</B></FONT><FONT
SIZE=2> on oil sands leases, and are usually drilled without the intention of being completed for&nbsp;production. </FONT>
</P>

</UL>

<P style="font-family:;"><FONT SIZE=2><U>Production processes</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Capacity</B></FONT><FONT SIZE=2> is the annual average output that may be achieved from a processing facility, such as an upgrader, refinery or natural gas processing plant,
under ideal operating conditions and in accordance with current design specifications. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Downstream</B></FONT><FONT SIZE=2> refers to the refining of crude oil or synthetic crude oil and the selling and distribution of refined products in retail and wholesale
channels. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Feedstock</B></FONT><FONT SIZE=2> generally refers either to i)&nbsp;the bitumen required in the production of synthetic crude oil for the company's oil sands operations; or
ii)&nbsp;crude oil and/or other components required in the production of refined products for the company's downstream operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>In situ</B></FONT><FONT SIZE=2> or "in place" refers to methods of extracting bitumen or heavy crude oil from deep deposits of oil sands by means other than
surface&nbsp;mining. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Overburden</B></FONT><FONT SIZE=2> is the material overlying oil sands that must be removed before mining, which consists of muskeg, glacial deposits and&nbsp;sand. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Production Sharing Contracts (PSC)</B></FONT><FONT SIZE=2> are a common type of contract signed between a government and a resource extraction company that states how much of the
resource produced each party will receive and which parties are responsible for the development and operation of the resource. An </FONT><FONT SIZE=2><B>Exploration and Production Sharing Agreement
(EPSA)</B></FONT><FONT SIZE=2> is a form of Production Sharing Contract, which also states which parties are responsible for exploration activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Steam-assisted gravity drainage (SAGD)</B></FONT><FONT SIZE=2> is an enhanced oil recovery technology for producing heavy crude oil and bitumen. It is an advanced form of steam
stimulation in which a pair of horizontal wells are drilled into the oil reservoir, one a </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>few
metres above the other. Low pressure steam is continuously injected into the upper wellbore to heat the oil and reduce its viscosity, causing the heated oil to drain into the lower wellbore, from
which it is pumped&nbsp;out. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Steam-to-oil ratio (SOR)</B></FONT><FONT SIZE=2> is a metric used to quantify the efficiency of an in situ oil recovery process, which measures the cubic
metres of steam required to produce one cubic metre of oil. The lower the ratio, the higher the efficiency of the use of&nbsp;steam. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Utilization</B></FONT><FONT SIZE=2> is the average use of capacity, and includes the impact of planned and unplanned facility outages and maintenance. More specifically, </FONT> <FONT SIZE=2><B>refinery utilization</B></FONT><FONT
SIZE=2> is the amount of crude oil and natural gas plant liquids run through crude distillation units, expressed as a percentage of the
capacity of these&nbsp;units. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Upgrading</B></FONT><FONT SIZE=2> is the two-stage process by which bitumen or heavy crude oil is converted into synthetic crude&nbsp;oil. </FONT></P>

<UL>

<P style="font-family:;"><FONT SIZE=2><B>Primary upgrading,</B></FONT><FONT SIZE=2>&nbsp;also referred to as coking or thermal cracking, heats the bitumen in coke drums to remove excess carbon. The superheated
hydrocarbon vapours are sent to fractionators where they condense into naphtha, kerosene and gas oil. Carbon residue, or coke, is removed from the coke drums on short intervals and later sold as a
byproduct. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Secondary upgrading,</B></FONT><FONT SIZE=2>&nbsp;a purification process also referred to as hydrotreating, adds hydrogen to, and reduces the sulphur of, primary upgrading
output to create sweet synthetic crude oil and&nbsp;diesel. </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=2><B>Upstream</B></FONT><FONT SIZE=2> refers to the exploration, development and production of conventional crude oil, bitumen or natural&nbsp;gas. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><U>Reserves and resources</U> </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Please
refer to the Definitions for Reserves Data Tables section of the Statement of Reserves Data and Other Oil and Gas Information in this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Common Abbreviations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following is a list of abbreviations that may be used in this AIF: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Measurement</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Places and Currencies</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>bbl(s)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>barrel(s)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>U.S.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>United&nbsp;States</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>bbls/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>barrels per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>U.K.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>United&nbsp;Kingdom</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of barrels per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>B.C.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>British Columbia</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of barrels</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>$ or Cdn$</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Canadian dollars</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>boe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>barrels of oil equivalent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>United&nbsp;States dollars</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>boe/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>barrels of oil equivalent per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&pound;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Pounds sterling</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mboe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of barrels of oil equivalent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&euro;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Euros</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of barrels of oil equivalent per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of barrels of oil equivalent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mcf</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of cubic&nbsp;feet of natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><U>Products, Markets and Processes</U></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mcf/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of cubic&nbsp;feet of natural gas per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mcfe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>thousands of cubic&nbsp;feet of natural gas equivalent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>WTI</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>West Texas Intermediate</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmcf</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>WCS</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Western Canadian Select</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmcf/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>NGL(s)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>natural gas liquid(s)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmcfe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas equivalent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>LPG</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>liquefied petroleum gas</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmcfe/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas equivalent per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>SCO</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>synthetic crude oil</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>billions of cubic&nbsp;feet of natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>NYMEX</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>New&nbsp;York Mercantile Exchange</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>GJ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>gigajoule</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>TSX</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Toronto Stock Exchange</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>mmbtu</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>millions of British thermal units</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>NYSE</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>New&nbsp;York Stock Exchange</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>m<SUP>3</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>cubic metres</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>SAGD</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>steam-assisted gravity drainage</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>m<SUP>3</SUP>/d</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>cubic metres per day</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>PSC</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>production sharing contract</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>km</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>kilometres</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>EPSA</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>exploration and production sharing agreement</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>MW</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>megawatts</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>Suncor converts certain crude oil and NGL volumes to mmcfe or mmcfe/d on the basis of one bbl to six mcf, and certain natural gas volumes to boe, mboe, mmboe or
mboe/d on the same basis. Any figure presented in mcfe, mmcfe, mmcfe/d, boe, boe/d, mboe, mmboe or mboe/d may be misleading, particularly if used in isolation. A conversion ratio of one bbl of crude
oil or NGL to six mcf of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not necessarily represent value equivalency at the wellhead.
Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a
6:1&nbsp;basis may be misleading as an indication of&nbsp;value. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>3</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=8,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=766750,FOLIO='3',FILE='DISK124:[12ZAL1.12ZAL49101]BI49101A.;49',USER='MVANGB',CD='29-FEB-2012;18:04' -->
<A NAME="page_bi49101_1_4"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Conversion Table</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>1&nbsp;m<SUP>3</SUP> liquids&nbsp;= 6.29&nbsp;barrels</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>1&nbsp;tonne&nbsp;= 0.984&nbsp;tons (long)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1> 1&nbsp;m<SUP>3</SUP> natural gas&nbsp;= 35.49&nbsp;cubic&nbsp;feet</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>1&nbsp;tonne&nbsp;= 1.102&nbsp;tons (short)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1> 1&nbsp;m<SUP>3</SUP> overburden&nbsp;= 1.31&nbsp;cubic yards</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>1&nbsp;kilometre&nbsp;= 0.62&nbsp;miles</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>1&nbsp;hectare&nbsp;= 2.5&nbsp;acres</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Conversion
using the above factors on rounded numbers appearing in this AIF may produce small differences from reported amounts.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Some
information in this AIF is set forth in metric units and some in imperial&nbsp;units. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>CORPORATE STRUCTURE</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Name and Incorporation</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor Energy&nbsp;Inc. (formerly Suncor&nbsp;Inc.) was originally formed by the amalgamation under the </FONT><FONT SIZE=2><I>Canada Business Corporations
Act</I></FONT><FONT SIZE=2> on August&nbsp;22, 1979, of Sun Oil Company Limited, incorporated in 1923, and Great Canadian Oil Sands Limited, incorporated in 1953. On January&nbsp;1, 1989, we
further amalgamated with a wholly owned subsidiary under the </FONT><FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT SIZE=2>. We amended our articles in 1995 to move our registered
office from Toronto, Ontario, to Calgary, Alberta, and again in April&nbsp;1997 to adopt our current name, "Suncor Energy&nbsp;Inc.". In April&nbsp;1997, May&nbsp;2000, May&nbsp;2002, and
May&nbsp;2008, we amended our articles to divide the issued and outstanding shares on a two-for-one basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Pursuant
to an arrangement (the&nbsp;Arrangement), which was completed effective August&nbsp;1, 2009, Suncor amalgamated with Petro-Canada to form&nbsp;a single corporation continuing under the
name "Suncor Energy&nbsp;Inc.". The Arrangement was effected pursuant to section&nbsp;192 of the </FONT><FONT SIZE=2><I>Canada Business Corporations Act</I></FONT><FONT SIZE=2> through an
arrangement agreement dated March&nbsp;22, 2009 and accompanying plan of arrangement, as amended. Under the terms of the Arrangement, Petro-Canada shareholders received 1.28&nbsp;common shares of
the continuing Suncor entity for each Petro-Canada common share held and Suncor shareholders received one common share of the continuing Suncor entity for each common share&nbsp;held. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our
registered and head office is located at 150&nbsp;-&nbsp;6<SUP>th</SUP>&nbsp;Avenue, S.W., Calgary, Alberta, T2P&nbsp;3E3. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Intercorporate Relationships</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Material subsidiaries, each of which was owned 100%, directly or indirectly, by the company as at December&nbsp;31, 2011 are as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="42%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Name</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Jurisdiction where organized</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="42%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Description</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><B>Canadian operations</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Oil Sands Limited Partnership</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
This partnership holds most of the company's oil sands assets.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Ventures Partnership</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
This partnership was created in 2011 and holds the company's interest in the Syncrude joint venture.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Products Partnership</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
This partnership holds substantially all of the company's Canadian refining and marketing assets.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Oil&nbsp;&amp; Gas Partnership</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
This partnership holds certain upstream Canadian oil and gas assets.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Joslyn Partnership</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
This partnership holds our working interest in the Joslyn joint venture.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Products&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy&nbsp;Inc. that holds interests in the company's energy marketing and renewable energy businesses, and which is a partner of Suncor Energy Products Partnership.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy Marketing&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy Products&nbsp;Inc. through which the products produced by our upstream North American businesses are marketed. Through this subsidiary, we also administer Suncor's energy trading activities, market certain third-party
products, procure crude oil feedstocks and natural gas for our downstream business, and procure and market NGLs and&nbsp;LPG for our downstream business.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><BR><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>4</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=9,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=406899,FOLIO='4',FILE='DISK124:[12ZAL1.12ZAL49101]BI49101A.;49',USER='MVANGB',CD='29-FEB-2012;18:04' -->
<A NAME="page_bi49101_1_5"> </A>

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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="40%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Name</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="16%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Jurisdiction where organized</FONT><BR></TH>
<TH WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="40%" ALIGN="LEFT" style="font-family:;"><FONT SIZE=1>Description</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><B>U.S.&nbsp;operations</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada U.S.&nbsp;Holdings&nbsp;Ltd.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
U.S.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy&nbsp;Inc. that holds the majority of our U.S.&nbsp;interests.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy (U.S.A.)&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
U.S.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy&nbsp;Inc. through which our U.S.&nbsp;refining and marketing operations are conducted.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><BR><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1><B>International operations</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> 3908968&nbsp;Canada&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy&nbsp;Inc. that holds certain of our international interests.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy UK&nbsp;Holdings Ltd.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
U.K.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of 3908968&nbsp;Canada&nbsp;Inc. that holds certain of our U.K.&nbsp;interests. Formerly Petro-Canada U.K.&nbsp;Holdings Limited.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Suncor Energy UK&nbsp;Limited</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
U.K.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Suncor Energy UK&nbsp;Holdings Ltd. through which certain of our operations are conducted in the U.K.&nbsp;Formerly Petro-Canada U.K.&nbsp;Limited.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada Cooperative Holding U.A.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
The Netherlands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of 3908968&nbsp;Canada&nbsp;Inc. that holds certain of our international interests.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada (International) Holdings&nbsp;B.V.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
The Netherlands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Petro-Canada Cooperative Holding UA that holds certain of our international interests.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada Palmyra&nbsp;B.V.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
The Netherlands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Petro-Canada (International) Holdings&nbsp;BV that holds the majority of our interests in Syria.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada Germany&nbsp;GmbH&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
Germany</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Petro-Canada (International) Holdings&nbsp;BV that holds the majority of our interests in Libya.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%" style="font-family:;"><BR><FONT SIZE=1> Petro-Canada Oil (North Africa)&nbsp;GmbH&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
Germany</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" style="font-family:;"><FONT SIZE=1><BR>
A subsidiary of Petro-Canada Germany&nbsp;GmbH through which the majority of our Libya operations are conducted.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><BR><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Subsequent
to December&nbsp;31, 2011, Petro-Canada Germany&nbsp;GmbH changed its name to Suncor Energy Germany&nbsp;GmbH.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Subsequent
to December&nbsp;31, 2011, Petro-Canada Oil (North Africa)&nbsp;GmbH changed its name to Suncor Energy Oil (North Africa)&nbsp;GmbH. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Individually, the company's remaining subsidiaries accounted for (i)&nbsp;less than 10% of the company's consolidated assets as at December&nbsp;31, 2011,
and (ii)&nbsp;less than 10% of the company's consolidated sales and operating revenues for the fiscal year ended December&nbsp;31, 2011. In aggregate, the remaining subsidiaries accounted for less
than 20% of each of (i)&nbsp;and (ii)&nbsp;described above. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>5</B></FONT></P>

<HR NOSHADE>
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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>GENERAL DEVELOPMENT OF THE BUSINESS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Overview</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor is 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;&#150;&nbsp;Canada's Athabasca oil sands. In addition, we explore for, acquire, develop, produce and market crude oil and natural gas in Canada and
internationally, and we transport and refine crude oil, and market petroleum and petrochemical products primarily in Canada. Periodically, we market third-party petroleum products. We also carry on
energy trading activities focused principally on the marketing and trading of crude oil, natural gas, refined products and&nbsp;byproducts. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has classified its operations into the following segments: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>OIL SANDS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's Oil Sands segment, with assets located in northeast Alberta, recovers bitumen from mining and in situ operations and upgrades the majority of this production into
refinery feedstock, diesel fuel and byproducts. The Oil Sands segment includes: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands</B></FONT><FONT SIZE=2> operations refers to Suncor's wholly owned and operated mining, extraction, upgrading and
in situ assets in the Athabasca oil sands region. Oil Sands activities consist&nbsp;of:


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands Base</B></FONT><FONT SIZE=2> operations include the Millennium and Steepbank (including the North Steepbank
Extension) mining and extraction operations, two integrated upgrading facilities known as Upgrader&nbsp;1 and Upgrader&nbsp;2, and the associated infrastructure for these
assets&nbsp;&#150;&nbsp;including utilities, energy and reclamation facilities, such as Tailings Reduction Operations (TRO<SUB>TM</SUB>)&nbsp;assets.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>In Situ</B></FONT><FONT SIZE=2> operations include oil sands bitumen production from Firebag and MacKay River and supporting
infrastructure, such as central processing facilities and cogeneration units. The majority of In Situ production is upgraded by Oil Sands Base; however, the company's marketing plan includes sales of
bitumen when marketing conditions are favourable or as operating conditions at Oil Sands Base require.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands Ventures</B></FONT><FONT SIZE=2> includes the company's interests in significant growth projects, including two
where Suncor is the operator&nbsp;&#150;&nbsp;the Fort Hills mining (40.8%) and the Voyageur upgrader (51%) projects, and one where Total E&amp;P Canada&nbsp;Ltd. (Total E&amp;P) is
the operator&nbsp;&#150;&nbsp;the Joslyn mining project (36.75%). Oil Sands Ventures also includes the company's 12% interest in the Syncrude oil sands mining and upgrading
joint&nbsp;venture. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>EXPLORATION AND PRODUCTION  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In January&nbsp;2011, Suncor combined its International and Offshore and Natural Gas segments into the Exploration and Production segment, which consists of offshore
operations off the east coast of Canada and in the North Sea, and onshore operations in North America, Libya and&nbsp;Syria. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>East Coast Canada</B></FONT><FONT SIZE=2> operations include Suncor's 37.675% working interest in Terra Nova, for which
Suncor is the operator. Suncor also holds a 20% interest in the Hibernia base project and a 19.5% interest in the Hibernia Southern Extension Unit (HSEU), a 27.5% interest in the White Rose base
project and a 26.125% interest in the White Rose Extensions, and a 22.729% interest in Hebron, all of which are operated by other companies.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>International</B></FONT><FONT SIZE=2> operations include Suncor's 29.89% working interest in Buzzard and a 26.69% interest
in the Golden Eagle Area Development (Golden Eagle)&nbsp;&#150;&nbsp;both of which are operated by another company&nbsp;&#150;&nbsp;in the
U.K.&nbsp;portion of the North Sea. Suncor also holds interests in several North Sea licences offshore the U.K. and Norway. Suncor owns, pursuant to a Production Sharing Contract, an interest in the
Ebla gas development in the Ash Shaer and Cherrife areas in Syria. Suncor also owns, pursuant to Exploration and Production Sharing Agreements, working interests in the exploration and development of
oilfields in the Sirte Basin in&nbsp;Libya. <BR>
<BR> </FONT><P style="font-family:;"><FONT SIZE=2>Due
to recent unrest in both countries, the company has declared force majeure under its contractual obligations in Libya and Syria. Operations in Libya are in the process of restarting, while
operations in Syria have been suspended indefinitely.


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</FONT></P>

</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>North America Onshore</B></FONT><FONT SIZE=2> operations include Suncor's interests in a number of assets in Western Canada,
which primarily produce natural&nbsp;gas. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>REFINING AND MARKETING  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's Refining and Marketing segment consists of two primary operations: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Refining and Product Supply</B></FONT><FONT SIZE=2> operations refine crude oil into a broad range of petroleum and
petrochemical products. Eastern North America operations include refineries located in Montreal, Quebec and Sarnia, Ontario, and a lubricants </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>6</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>business
located in Mississauga, Ontario that manufactures, blends and markets products worldwide. Western North America operations include refineries located in Edmonton, Alberta and Commerce City,
Colorado. Other assets include interests in a petrochemical plant, pipelines and product terminals in Canada and the&nbsp;U.S.


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</FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Downstream </FONT><FONT SIZE=2><B>Marketing</B></FONT><FONT SIZE=2> operations sell refined petroleum products and lubricants to retail, commercial
and industrial customers through a combination of company-owned, branded-dealer and other retail stations in Canada and Colorado, a nationwide commercial road transport network in Canada, and a bulk
sales&nbsp;channel in Canada. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>CORPORATE, ENERGY TRADING AND ELIMINATIONS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The grouping </FONT><FONT SIZE=2><B>Corporate, Energy Trading and Eliminations</B></FONT><FONT SIZE=2> includes the company's investments in renewable energy projects, results
related to energy supply and trading activities, and other activities not directly attributable to any other operating segment. </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Renewable Energy</B></FONT><FONT SIZE=2> interests include six operating wind power projects and the St.&nbsp;Clair
ethanol plant in&nbsp;Ontario.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Energy Trading</B></FONT><FONT SIZE=2> activities primarily involve the marketing and trading of crude oil, natural gas,
refined petroleum products and byproducts and the use of midstream infrastructure and financial derivatives to optimize related trading strategies.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Corporate</B></FONT><FONT SIZE=2> includes stewardship of Suncor's debt and borrowing costs, expenses not allocated to the
company's businesses, and the company's captive insurance activities that self-insure a portion of the company's asset&nbsp;base.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Intersegment revenues and expenses are removed from consolidated results in </FONT><FONT SIZE=2><B>Group Eliminations</B></FONT><FONT SIZE=2>.
Intersegment activity includes the sale of feedstock by the Oil Sands and Exploration and Production segments to the Refining and Marketing segment, the sale of fuels and lubricants by the Refining
and Marketing segment to the Oil Sands segment, the sale of ethanol by the Renewable Energy business to the Refining and Marketing segment, and the provision of insurance for a portion of the
company's operations by the Corporate captive insurance entity. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Three-Year History</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>2009  </B></FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Economic downturn leads to "safe mode" for key growth projects.</B></FONT><FONT SIZE=2> In the first quarter of 2009, Suncor
placed a number of oil sands projects into safe mode as a result of the downturn in the global economy. Safe mode is the deferral of projects and maintenance of equipment and facilities in a safe
manner in order to expedite remobilization when appropriate. The placement and maintenance of projects in safe mode resulted in significant operating expenses in 2009 and 2010, and the ensuing changes
to project scheduling resulted in increased capital expenditures when projects were eventually remobilized. As a result of the merger and an improvement in the economy, in 2010, Firebag
Stage&nbsp;3, Firebag Stage&nbsp;4 and&nbsp;the Millennium Naphtha Unit (MNU) projects were all taken out of safe mode. The Voyageur upgrader project began remobilizing in&nbsp;2011.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Merger with Petro-Canada.</B></FONT><FONT SIZE=2> On August&nbsp;1, 2009, Suncor merged with Petro-Canada, adding
approximately 375&nbsp;mboe/d of upstream production at that time, which included the MacKay River in situ bitumen project, a 12% ownership interest in the Syncrude joint venture, interests in all
of the major producing fields offshore Newfoundland and Labrador, interests in several offshore fields in the U.K. and the Netherlands portions of the North Sea, including Buzzard, interests in
foreign operations pursuant to PSCs in Syria and Libya, and significant natural gas assets in Western Canada and the U.S.&nbsp;Rockies. Growth assets acquired included the Fort Hills oil sands
mining project, other extensive oil sands acreage considered prospective for in situ development of bitumen resources, and interests in other North Sea fields that would eventually become known as
Golden Eagle. Downstream assets acquired included the Edmonton and Montreal refineries, a lubricants plant, and the Petro-Canada<SUB>TM</SUB> branded network of retail service stations and wholesale
cardlock sites. In addition, responsibilities for crude marketing and procurement activities related to Petro-Canada assets were assumed by Suncor's existing Energy Trading business.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Steepbank extraction plant completed.</B></FONT><FONT SIZE=2> To reduce the distance to the mine face, a new bitumen
extraction plant on the east side of the Athabasca River was completed, resulting in improved reliability and bitumen recovery.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Fires at Suncor's upgrading facilities.</B></FONT><FONT SIZE=2> In December&nbsp;2009, there was a fire at the company's
Upgrader&nbsp;2 facilities, which were repaired and returned to normal operations in February&nbsp;2010. In February&nbsp;2010, there was a fire at our Upgrader&nbsp;1 facilities, which were
repaired and returned to full operations by April&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>2010  </B></FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Disposition of non-core assets.</B></FONT><FONT SIZE=2> Subsequent to the merger, the company undertook a
strategic initiative to sell non-core assets. Throughout 2010, the company completed or entered into agreements for the disposition of non-core assets representing
approximately 60&nbsp;mboe/d of production. This included assets in the U.S.&nbsp;Rockies, the Netherlands portion of the </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>7</B></FONT></P>

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<UL>

<P style="font-family:;"><FONT SIZE=2>North
Sea, Trinidad and Tobago, the Scott, Telford and Guillemot areas in the U.K.&nbsp;portion of the North Sea, and numerous natural gas packages in Western Canada. Some of these disposals closed
in 2011. Additional disposals of non-core North America Onshore assets representing approximately 5.9&nbsp;mboe/d of 2010 production occurred in&nbsp;2011.


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</FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Reclamation of tailings pond.</B></FONT><FONT SIZE=2> Suncor became the first oil sands company to complete surface
reclamation of a tailings pond. The 220-hectare site was the company's first storage pond for oil sands tailings when commercial production began in 1967. Suncor renamed the area Wapisiw
Lookout.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Tailings Reduction Operations (TRO<SUB>TM</SUB>).</B></FONT><FONT SIZE=2> Suncor received approval from Alberta regulators
to convert from the Consolidated Tailings (CT) management process to TRO<SUB>TM</SUB>, a process in which mature fine tailings are dried, rather than mixed with sand and other materials to
form&nbsp;CT. Suncor expects that TRO<SUB>TM</SUB> will allow the company to significantly reduce the area required for tailings management, increase the speed at which it is able to reclaim its
tailings ponds and meet the requirements of the Tailings Directive approved by Alberta's Energy Resources Conservation Board (ERCB) in&nbsp;2009.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Production commences in Syria.</B></FONT><FONT SIZE=2> Suncor achieved commercial production of natural gas from the Ebla
project in April. First oil was later achieved from Ebla in&nbsp;December.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>First oil from the White Rose Extensions.</B></FONT><FONT SIZE=2> In the second quarter, first oil was achieved from the
North Amethyst portion of the White Rose Extensions.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Terra Nova redetermination.</B></FONT><FONT SIZE=2> In December, the joint venture owners of the Terra Nova oilfield
finalized the redetermination of working interests required under the Terra Nova Development and Operating Agreement following field payout on February&nbsp;1, 2005. Suncor's working interest
increased to 37.675% from&nbsp;33.990%.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Transformation of downstream Marketing operations.</B></FONT><FONT SIZE=2> Suncor rebranded 158&nbsp;Sunoco<SUB>TM</SUB>
retail sites to consolidate its post-merger Canadian downstream marketing operations under the Petro-Canada<SUB>TM</SUB> brand. Suncor divested 104&nbsp;retail sites in Ontario to
comply with Canadian Competition Bureau requirements relating to the&nbsp;merger.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Suncor announced plans to grow production to one million barrels of oil equivalent per day.</B></FONT><FONT SIZE=2> In
December, Suncor announced that it had entered into agreements with Total E&amp;P. Concurrent with this announcement, Suncor introduced its long-term growth strategy to increase production to
over one million boe/d by 2020. Key components of the plan included arrangements with Total E&amp;P for the restart of construction of the Voyager upgrader, and the joint development of the Fort Hills and
Joslyn mining projects with the respective joint venture owners of these projects. Other key components of the ten-year growth strategy included continued development of the company's
Firebag and MacKay River in situ projects, and investments in, and ongoing production from, international and offshore operations. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>2011  </B></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Exploration and Production segment created.</B></FONT><FONT SIZE=2> In January, Suncor announced organizational changes that
included the International and Offshore and Natural Gas business divisions merging into a single organization primarily focused on conventional production, which includes both onshore and offshore
operations.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Ethanol plant expansion completed.</B></FONT><FONT SIZE=2> In January, Suncor completed the expansion of its ethanol plant
in Ontario that doubled production capacity to 400&nbsp;million litres per year, making it Canada's largest biofuels production facility.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Operations in Libya temporarily suspended.</B></FONT><FONT SIZE=2> In response to political unrest and sanctions in Libya in
the first quarter, the joint venture operator shut in production, while Suncor suspended all exploration activities and declared force majeure under its EPSAs. The uncertainty about the company's
future in Libya caused by these events at that time resulted in the company recording an impairment charge against the company's assets. Sanctions in Libya were eventually lifted upon the transition
to a new government, and the joint venture operator was able to restart production from all major producing fields by early January&nbsp;2012.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Transactions with Total E&amp;P close.</B></FONT><FONT SIZE=2> After receiving the necessary regulatory approvals, Suncor and
Total E&amp;P completed their previously announced transactions. In exchange for net proceeds of $1.820&nbsp;billion (after closing adjustments) and a 36.75% interest in the Joslyn project, Suncor sold
to Total E&amp;P a 49% interest in the Voyageur upgrader and a 19.2% interest in the Fort Hills&nbsp;project.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Largest turnaround in Suncor history.</B></FONT><FONT SIZE=2> During the second quarter, the company completed safely and on
time a turnaround at its Upgrader&nbsp;2&nbsp;facilities.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>New wind farms commissioned.</B></FONT><FONT SIZE=2> In May, the eight-turbine, 20-MW Kent Breeze wind power
project in southwest Ontario commenced operations. In November, Suncor completed construction of, and initiated full production from, the 55-turbine, 88-MW Wintering Hills
project in southern Alberta.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>First oil at Firebag Stage&nbsp;3.</B></FONT><FONT SIZE=2> In July, Suncor achieved first oil from the first of three well
pads at the Firebag Stage&nbsp;3 expansion. With the ramp up of production from the Stage&nbsp;3 expansion and the addition of infill wells at Firebag, Suncor's In Situ production surpassed
100,000&nbsp;bbls/d of bitumen for the first time in the fourth&nbsp;quarter. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>8</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Development of Golden Eagle approved.</B></FONT><FONT SIZE=2> In the third quarter, the field development plan for Golden
Eagle was approved. The company anticipates first production late in 2014 or early&nbsp;2015.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>North Steepbank Extension.</B></FONT><FONT SIZE=2> In December, the company started mining ore from the North Steepbank
Extension (NSE) at its Oil Sands Base operations. The opening of this new mine extension enables Suncor to access additional oil sands ore, decrease overall haul distances and decrease mine
congestion.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Operations in Syria suspended.</B></FONT><FONT SIZE=2> In December, sanctions were introduced that resulted in Suncor
declaring force majeure under its contractual obligations and suspending its operations in Syria. Consequently, the company has ceased recording all production and revenue associated with its
Syrian&nbsp;assets.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Systems integration project completed.</B></FONT><FONT SIZE=2> During the year, the company integrated Exploration and
Production and Refining and Marketing assets acquired in the merger onto a common information systems platform. Oil Sands and Corporate assets were integrated during&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>2012  </B></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Chief Executive Officer Rick George to retire.</B></FONT><FONT SIZE=2> Suncor's long-standing chief executive
officer (CEO) announced his plan to retire after more than 20&nbsp;years leading
the company. Steve Williams, Suncor's chief operating officer (COO), was appointed president and a member of the company's Board of Directors, and will assume the role of CEO upon Mr.&nbsp;George's
retirement in May&nbsp;2012. </FONT></DD></DL>
<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>NARRATIVE DESCRIPTION OF SUNCOR'S BUSINESSES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>For a discussion of environmental and other regulatory conditions, and competitive conditions and seasonal impacts affecting our Oil Sands segment, refer
to the Industry Conditions and Risk Factors sections of this&nbsp;AIF.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Oil Sands Base Operations</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our integrated Oil Sands Base operations, located near Fort McMurray, Alberta, involve numerous activities: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Mining and Extraction</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>After
overburden is removed, open-pit mining operations use shovels to excavate the oil sands bitumen ore, which is trucked to sizers and breaker units that reduce the size of the ore,
then create a slurry of hot water, rock, sand and bitumen. The slurry is delivered via a hydrotransport pipeline to extraction plants. The raw bitumen is separated from the slurry using a hot water
process that creates a bitumen froth. Naphtha is added to the bitumen froth to form a diluted bitumen, which is subsequently sent to a centrifuge plant that removes most of the remaining impurities
and&nbsp;minerals. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Upgrading</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>After
the diluted bitumen is transferred to upgrading facilities, the naphtha is removed and recycled to be used again as diluent. Bitumen is upgraded through a coking and distillation process. The
upgraded product, referred to as sour SCO, is either sold directly to customers or upgraded further into sweet SCO by removing sulphur and nitrogen using a
hydrotreating process. In addition to sweet and sour SCO, upgrading processes also produce diesel, naphtha, kerosene and gas&nbsp;oil. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Utilities</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Process
water is used in extraction processes and then recycled. Steam and electricity are generated through facilities on site. Steam required for operations is generated by a cogeneration unit or
coke-fired boilers. Electricity is generated by turbine generators, some of which are part of the cogeneration unit. Excess energy produced is sold back to the power grid; however, during
peak periods, Suncor purchases additional electricity from the&nbsp;grid. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>9</B></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Maintenance</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>In
the normal course of our operations, we regularly conduct planned maintenance events at our facilities. Large planned maintenance events, which require units to be taken offline to be completed,
are often referred to as turnarounds. Turnaround maintenance provides opportunities for both preventive maintenance and capital replacement, which are expected to improve reliability and operational
efficiency. Planned maintenance events generally occur on routine cycles, determined by historical operating performance, recommended usage factors or regulatory requirements. A turnaround typically
involves shutting down the unit, inspecting it for wear or other damage, repairing or replacing components, and then restarting the&nbsp;unit. </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Reclamation</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Mining
processes disturb areas of land that must be reclaimed. Land reclamation activities involve monitoring soil salvage and replacement, wetlands research, fish, waterfowl and other wildlife
protection, and re-vegetation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
extraction process produces tailings that are a mixture of water, clay, sand and residual bitumen. Suncor has developed a new tailings management approach, known as TRO<SUB>TM</SUB>, which
involves converting tailings more rapidly into a solid landscape suitable for reclamation. In this process, mature fine tailings are mixed with a polymer flocculent and then deposited in thin layers
on shallow slopes. The resulting product is a dry material that is capable of being reclaimed in place or moved to another location for final reclamation. The new process is expected to eliminate the
need for new tailings ponds at existing mining operations, improve tailings management going forward and, in the years ahead, reduce the number of tailings ponds presently in&nbsp;operation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Oil Sands Base Assets</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Mining and Extraction  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor pioneered the commercial development of the Athabasca oil sands beginning in 1962. The original mining area is essentially depleted, and, for several years, bitumen has
been mined almost exclusively from the Millennium area, which began production in 2001. During 2011, the company mined approximately 160&nbsp;million tonnes from Millennium, and started mining ore
from the&nbsp;NSE. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
currently operates two extraction plants, the second of which was brought into service during 2009. The original extraction plant on the west side of the Athabasca River is operated only as
required to support reclamation activities. During 2011, Suncor averaged processing 289,000&nbsp;bbls/d of mined bitumen ore in its extraction facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Upgrading  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's upgrading facilities consist of two upgraders&nbsp;&#150;&nbsp;Upgrader 1, which has a primary upgrading capacity of 110,000&nbsp;bbls/d of
SCO, and Upgrader 2, which has a primary upgrading capacity of 240,000&nbsp;bbls/d of SCO. When the MNU is fully commissioned, Suncor's secondary upgrading facilities will consist of three hydrogen
plants, three naphtha hydrotreaters, two gas oil hydrotreaters and two diesel hydrotreaters. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During
2011, Suncor averaged 279,700&nbsp;bbls/d of upgraded bitumen (SCO) production and an additional 25,000&nbsp;bbls/d of non-upgraded bitumen production
(2010&nbsp;&#150;&nbsp;251,400&nbsp;bbls/d upgraded, 31,600&nbsp;bbls/d non-upgraded). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Mining Leases  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor owns several other oil sands leases, including those known as Voyageur South and Audet, which it believes can be developed using mining techniques and on which it
undertakes modest exploratory drilling programs on a year-to-year basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>In Situ Operations</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's In Situ operations, Firebag and MacKay River, use SAGD technology to separate bitumen from oil sands deposits that are too deep to be mined economically and primarily
provide additional bitumen to Oil Sands Base upgrading facilities. </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>The SAGD process</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
SAGD process drills pairs of horizontal wells with one located above the other. To help reduce land disturbance and improve cost efficiency, well pairs are drilled from central
multi-well pads. Steam is injected into the upper well to create a high-temperature steam chamber underground. This process reduces the viscosity of the thick bitumen, allowing
heated bitumen and condensed steam to drain into the bottom well and flow up to the surface aided by subsurface pumps or circulating gas. Typically, it takes 18 to 24&nbsp;months for the steam
chamber to reach conditions that support peak production levels. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>10</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Central processing facilities</B></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>The
bitumen and water mixture is pumped to separation units at central processing facilities, where the water is removed from the bitumen, treated and recycled for use in steam generation. To
facilitate transportation of viscous bitumen, In Situ operations add diluent (naphtha) or use an insulated (referred to as "hot") bitumen pipeline. </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Steam generation</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Gas
vapours recovered at central processing facilities are treated and used as fuel to power Once Through Steam Generators. Cogeneration units are energy efficient systems, which use natural gas
combustion to power turbines that generate electricity and steam. </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Maintenance and feedstock supply</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Central
processing facilities, steam generation units and well pads are all subject to routine inspection and maintenance cycles. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>SAGD
production volumes are impacted by reservoir quality and the capacity of central processing facilities and steam generation units to process liquids and generate steam. As with conventional oil
and gas properties, SAGD wells will experience natural production declines after several years. Suncor strives to maintain bitumen supply by drilling new wells from existing well pads or by developing
new well&nbsp;pads. </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>New technologies</B></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Suncor
is involved in numerous pilot projects, both operated and non-operated. These pilot projects evaluate potential enhancements to existing SAGD operations or potential new
technologies targeted at improving capital efficiency and lowering&nbsp;SORs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>In Situ Assets</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Firebag  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Initial development of Suncor's Firebag operations included two well pads, each with ten well pairs, and central processing facilities for each of Firebag Stage&nbsp;1 and
Stage&nbsp;2, with production commencing in 2004 and 2006, respectively. A cogeneration unit was added in 2007. The combined processing capacity of these initial Firebag operations was approximately
95,000&nbsp;bbls/d of bitumen at design SORs of 2.0 to 2.5; however, actual SORs for Firebag have been higher than the design specifications, largely due to geological heterogeneity (inconsistent
quality throughout the reservoir). Prior to first oil from the Stage&nbsp;3 expansion, production averaged between 50,000 to 60,000&nbsp;bbls/d for 2010 and 2011. As at December&nbsp;31, 2011,
the cumulative SOR at Firebag was 3.3. As production from the Stage&nbsp;3 expansion increases, the Firebag SOR is expected to&nbsp;decrease. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During
2011, the company completed its Firebag Stage&nbsp;3 expansion, which added three well pads, two cogeneration units and a central processing facility. Commissioning of the cogeneration units
is expected to be completed in the first quarter of 2012. The Firebag Stage&nbsp;4 expansion, scheduled for completion during 2013, includes two well pads, an additional central processing facility
and two more cogeneration units. The design capacity for both of the Stage&nbsp;3 and Stage&nbsp;4 expansions is 62,500&nbsp;bbls/d of bitumen. Actual production may vary from this capacity
based on steaming and ramp-up periods, scheduled and unscheduled maintenance, reservoir conditions and other factors. Suncor designed the Stage&nbsp;3 and Stage&nbsp;4 expansions with
the goal of integrating the entire Firebag operation. Steam and
electricity generated at one facility or unit can be used at any well pad. Central processing facilities have been designed to be flexible as to which well pads supply&nbsp;bitumen. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has received regulatory approval for further expansion of Firebag beyond Stage&nbsp;4 for an aggregate of 368,000&nbsp;bbls/d of&nbsp;bitumen. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During
2011, Firebag operations averaged production of 59,500&nbsp;bbls/d of bitumen (2010&nbsp;&#150;&nbsp;53,600&nbsp;bbls/d), approximately 90% of which was upgraded by
Oil Sands Base operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>MacKay River  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production from MacKay River commenced in 2002 from two well pads with 25&nbsp;well pairs, and subsequent expansion phases added four more well pads with 31&nbsp;producing
well pairs. Starting in June&nbsp;2011, a new phase of 22&nbsp;well pairs was initiated, with production coming on-stream in the fourth quarter of 2011 and continuing to build
throughout 2012. Central processing facilities have a nameplate capacity of approximately 30,000&nbsp;bbls/d of bitumen. A third party owns and operates the on-site cogeneration unit in
return for a fee and natural gas fuel being purchased by Suncor. As at December&nbsp;31, 2011, the cumulative SOR at MacKay River was&nbsp;2.5. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has regulatory approval for 73,000&nbsp;bbls/d of bitumen production from MacKay River and is currently evaluating an expansion to add a second central processing facility. Suncor has
approval to include its Dover properties in the MacKay River project area, and has submitted an application to develop a portion of these&nbsp;lands. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>11</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>During
2011, MacKay River operations averaged production of 30,000&nbsp;bbls/d of bitumen (2010&nbsp;&#150;&nbsp;31,500&nbsp;bbls/d), approximately 30% of which was upgraded
by Oil Sands Base operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other In Situ Leases  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor owns several other oil sands leases, including those known as Meadow Creek, Lewis, Chard and Kirby, which it believes can be developed using in situ techniques, and on
which it may undertake modest exploratory drilling programs on a year-to-year basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Oil Sands Ventures&nbsp;&#150;&nbsp;Assets and Operations</U>  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Syncrude  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor holds a 12% interest in the Syncrude joint venture, also located near Fort McMurray, which includes operations at the Mildred Lake North and Aurora North oil sands mines.
Syncrude also has regulatory approval to develop the Aurora South oil sands mining&nbsp;leases. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Syncrude
began producing in 1978 and is operated by Syncrude Canada&nbsp;Ltd. (SCL). In 2006, SCL entered into a comprehensive management services agreement with Imperial Oil Resources (Imperial
Oil) to provide operational, technical and business management services. This agreement has an initial term of ten years and includes renewal provisions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Syncrude
mining operations use truck, shovel and hydrotransport systems, similar to those at Oil Sands Base. Extraction and upgrading technologies at Syncrude are also similar to those used at Oil
Sands Base, except that Syncrude uses a fluid coking process that involves the continuous thermal cracking of the heaviest hydrocarbons, as opposed to a delayed coking process. At Mildred Lake,
electricity is provided by a utility plant fuelled by off-gas from upgrading operations and natural gas. At Aurora North, Syncrude operates two 80-MW gas turbine power plants. The gross
design capacity for Syncrude facilities is approximately 375,000&nbsp;bbls/d, but when allowances are made for scheduled and unscheduled downtime the gross productive capacity of the facilities is
approximately 350,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Syncrude
primarily produces a single sweet synthetic light crude product. Marketing of this product is the responsibility of the individual joint venture owners. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Land
reclamation activities are similar to those at Oil Sands Base; however, tailings management processes are different. Syncrude's ERCB-approved tailings plan uses the following:
freshwater capping, a composite tails mixture of fine tails and gypsum, and plans for centrifuge technology that separates water from&nbsp;tailings. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, Suncor's share of Syncrude production averaged 34,600&nbsp;bbls/d (2010&nbsp;&#150;&nbsp;35,200&nbsp;bbls/d). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Voyageur Upgrader, Fort Hills and Joslyn  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil Sands Ventures also includes assets important to Suncor's long-term growth strategy. During the first quarter of 2011, Suncor completed transactions with Total
E&amp;P, which brought Total E&amp;P into the Voyageur upgrader project, increased their working interest in the Fort Hills oil sands mining project and brought Suncor into the Joslyn oil sands
mining&nbsp;project. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Fort Hills is the oil sands mining project comprising leases on the east side of the Athabasca River, north of Oil Sands Base operations.
Preliminary designs for Fort Hills plan for 164,000&nbsp;bbls/d of bitumen production (gross). Suncor originally acquired a 60% working interest in Fort Hills as a result of the merger, and then
agreed to a partial disposition of 19.2% as part of transactions with Total E&amp;P. Suncor now holds a 40.8% working interest in the Fort Hills project. Suncor Energy Operating&nbsp;Inc., a wholly
owned subsidiary of Suncor, is the contract operator for the Fort Hills project. Prior to the merger, the joint venture owners of Fort Hills had completed design basis memorandum engineering in 2008,
but deferred a final investment decision as a result of the economic downturn. Subsequent to completing the transactions with Total E&amp;P, the Fort Hills project has restarted design basis memorandum
engineering. Total E&amp;P holds a 39.2% working interest in the Fort Hills project and Teck Resources Limited holds the remaining&nbsp;20%.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Joslyn is the oil sands mining project comprising leases southwest of the Fort Hills project and on the west side of the Athabasca River.
Preliminary designs for the Joslyn North mine project plan for 100,000&nbsp;bbls/d of bitumen production (gross). Suncor acquired a 36.75% working interest in this asset as a result of transactions
with Total E&amp;P. Under this joint venture agreement, Total E&amp;P is scheduled to act as operator, holding a 38.25% interest, while Occidental Oil and Gas Corporation (15%) and Inpex Canada&nbsp;Ltd.
(10%) hold the remaining interests.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Suncor anticipates that the majority of bitumen production from the Fort Hills and Joslyn projects will be upgraded into SCO and other products by
the Voyageur upgrader. Suncor began design work for the Voyageur upgrader in 2004. The original Voyageur program received approval from the Board of Directors in January&nbsp;2008. The Voyageur
upgrader project was placed into safe mode in January&nbsp;2009 as a result of the economic downturn, at which time construction was approximately 15% complete. Subsequent to the transactions with
Total E&amp;P in December&nbsp;2010, the Voyageur upgrader project team has </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>12</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>engaged
in activities such as remobilizing personnel and assessing the condition of assets. Preliminary design plans are for 200,000&nbsp;bbls/d (gross) of upgrading capacity. </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=2>The
development of each of these projects is still subject to approval by Suncor's Board of Directors and the joint venture owners for each respective project. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Sales of Principal Products</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Primary markets for SCO and bitumen production from Suncor's Oil Sands segment, which is sold to and subsequently marketed by Suncor's Energy Trading business, include refining
operations in Alberta, Ontario, the U.S.&nbsp;Midwest and the U.S.&nbsp;Rocky Mountain regions. Diesel production from upgrading operations is sold primarily in Western Canada, marketed by
Suncor's Refining and Marketing business. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
bitumen production from In Situ operations, Suncor's marketing strategy allows it to take advantage of changes in market conditions by either: a)&nbsp;upgrading the bitumen directly at our Oil
Sands Base facilities; b)&nbsp;upgrading the bitumen at Suncor's refineries; or c)&nbsp;selling diluted bitumen directly to third parties. Direct bitumen sales may also be required during outages
of upgrading facilities or interruptions in pipeline systems. During 2011, 73% (2010&nbsp;&#150;&nbsp;63%) of In Situ bitumen production was processed by Oil Sands Base
upgrading facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, sales of light sweet SCO and diesel represented 44% and sales of light sour SCO and bitumen represented 45% of total Oil Sands segment operating revenues. There were no individual customers
that represented 10% or more of Suncor's consolidated revenues in 2011 or&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
revenues include sales of non-proprietary volumes purchased from third parties. These volumes are typically transacted when Oil Sands Base or third-party refinery capacities are
constrained, in conjunction with a corresponding sales agreement, which allow Suncor and the third party to optimize their logistics. These volumes may also include purchases of third-party diluent to
support sales of bitumen, required when the company is unable to meet diluent demands internally. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Information
on average daily sales volumes and the corresponding percentage of Oil Sands segment operating revenues by product for each of the last two years are as&nbsp;follows: </FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sales Volumes and Operating Revenues&nbsp;&#150;&nbsp;Principal Products</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Light sweet SCO and diesel (including Syncrude)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>144.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Light sour SCO and bitumen</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>194.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>176.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Non-proprietary, byproducts and other operating revenues</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>n/a</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>n/a</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>339.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>314.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2>In the normal course of business, Suncor enters into long-term strategic supply agreements for its proprietary sour SCO, which contain varying terms
with respect to pricing, volume, expiry and terminations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Distribution of Products</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production from Oil Sands Base operations is gathered from our Fort McMurray facilities at the Athabasca Terminal, which is operated by Enbridge&nbsp;Inc. (Enbridge). Suncor
has various arrangements with Enbridge at this facility to store SCO, diluted bitumen and diesel. Production from Firebag is transported to the Athabasca Terminal via a pipeline that is operated by
Suncor, while production from MacKay River is transported to the Athabasca Terminal via an insulated pipeline. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Product
moves from the Athabasca Terminal in the following ways: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>SCO is sent to Edmonton via the Oil Sands pipeline, which is owned by Suncor and operated by the Refining and Marketing segment. At Edmonton, the
product is sold to local refiners or transferred onto the Enbridge Mainline system.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>SCO and diluted bitumen is transported to Hardisty, Alberta via Cheecham, Alberta on the Enbridge Athabasca Pipeline.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>SCO also reaches Edmonton via the Waupisoo pipeline, which is owned and operated by Enbridge. This pipeline begins from the Enbridge Athabasca
Pipeline at&nbsp;Cheecham. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>From
Hardisty, where Suncor has storage capacity under contract, Suncor has various options for delivering product to&nbsp;customers: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>SCO reaches Suncor's Commerce City refinery via the Express and Platte pipelines. Suncor owns and operates a pipeline that is connected to the
Commerce City&nbsp;refinery, which originates from the Guernsey, Wyoming station that is part of the Platte pipeline.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>SCO reaches Suncor's Sarnia refinery on the Enbridge Mainline and Lakehead systems. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>13</B></FONT></P>

<HR NOSHADE>
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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>From Hardisty, which is also connected to the Enbridge Mainline pipeline from Edmonton, crude can reach most major refining hubs via the Enbridge
Mainline, Express/Platte and Keystone pipeline systems. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Natural
gas is used in the production of SCO, particularly in our SAGD operations. Natural gas is delivered to Oil Sands Base and In Situ facilities via the Nova Gas Transmission Limited (NGTL)
regulated pipeline system. Suncor also transports natural gas to our Oil Sands Base facilities on the company-owned and operated Albersun Pipeline, which has a capacity of 46&nbsp;mmcf/d and extends
approximately 300&nbsp;km south of the Oil Sands Base facilities and is connected to the NGTL. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil
Sands Base facilities are readily accessible by public road. MacKay River facilities are accessible by a combination of public and private roads. Firebag facilities are currently accessible by air
and private road. In 2010, the East Athabasca Highway was constructed to provide access to the Firebag site. This highway is owned by Suncor, Husky Energy&nbsp;Inc. and Imperial Oil&nbsp;Ltd., and
was constructed to provide each company with access to its oil sands operations in the&nbsp;area. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><U>Royalty Agreements</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>New oil sands projects are subject to the New&nbsp;Royalty Framework issued by the Government of Alberta, and regulated by the </FONT><FONT SIZE=2><I>Oil Sands Royalty
Regulation&nbsp;2009</I></FONT><FONT SIZE=2> (OSRR 2009), and supporting regulations, which were approved on December&nbsp;10,&nbsp;2008. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, Oil Sands royalties (excluding Syncrude) were approximately 7% (2010&nbsp;&#150;&nbsp;7%) of Oil Sands operating revenues before royalties, and excluding
non-proprietary sales and sales of byproducts. In 2011, Suncor incurred royalties on Syncrude operations averaging approximately 8% of Syncrude gross revenue
(2010&nbsp;&#150;&nbsp;9%). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Oil Sands Base and Syncrude  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As part of the New&nbsp;Royalty Framework, Suncor negotiated and entered into the Suncor Royalty Amending Agreement (Suncor RAA) with the Government of Alberta in January 2008
for royalties pertaining to its Oil Sands Base operations. Prior to the New&nbsp;Royalty Framework, Suncor exercised its option to transition to a bitumen-based royalty from an SCO-based
royalty, which became effective January&nbsp;1, 2009. Royalty rates for 2009 remained at 25% of net revenue. For the period from January&nbsp;1, 2010 to December&nbsp;31, 2015, royalty rates are
based on a sliding scale (depending on the Canadian dollar equivalent for WTI) from 25% to 30% of R-C (Revenue-Cost), where R is gross revenues, net of bitumen quality
adjustments and transportation costs, and C is allowable costs including allowable capital expenditures, which excludes substantially all operating and capital expenditures associated with upgrading
facilities. The minimum royalty rate is 1.0% to 1.2% of R. In 2011 and 2010, Suncor incurred royalties on Oil Sands Base mining operations at a rate of 30% of R-C because of high prices
for&nbsp;WTI. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
November&nbsp;2008, the Alberta government and the joint owners of the Syncrude joint venture reached an agreement for the implementation of the New&nbsp;Royalty Framework for the Syncrude
project (similar to the Suncor RAA). Under the new terms, Syncrude would continue paying the greater of 1% gross revenue, or 25% of net revenue, until the end of 2015. For 2011, the royalty rate was
25% of net revenue. As part of its agreement, Syncrude also exercised its option to transition to a bitumen-based royalty from an SCO-based royalty. As such, the upgrader facility at the
Syncrude project is no longer considered a part of the royalty project. The Syncrude joint venture owners agreed to pay an additional royalty of $975&nbsp;million over a six-year period
starting in 2010, which is contingent on achieving certain production levels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
part of the implementation of the New&nbsp;Royalty Framework, the Alberta government enacted new Bitumen Valuation Methodology (BVM) regulations effective January&nbsp;1, 2009. These interim
BVM regulations determine the valuation of bitumen for 2009 to 2011. Final regulations to establish the BVM calculation for future years are still to be developed by the Crown. For the year 2009,
Suncor filed a non-compliance notice with the Crown, citing that reasonable adjustments were not considered by the Crown in the determination of bitumen value as permitted by the Suncor
RAA. In December&nbsp;2010, the Minister of Energy notified Suncor of a modification to the Suncor BVM, permitting adjustments for bitumen quality and transportation. Suncor filed its second
non-compliance notice with the Crown, for the years 2009 and 2010, related to the quality adjustment made by the Minister, which Suncor believes is not reasonable. Pursuant to the OSRR
2009, Suncor provided replacement royalty reports for 2009 and 2010 and remitted, under protest, the balance of royalty payable at the end of January&nbsp;2011. For 2011, Suncor continued to remit
royalty payments based on its view of reasonable quality adjustments; however, royalty expense was calculated based on the Minister's quality adjustment. The Suncor RAA provides for an arbitration
procedure failing settlement of these issues. Suncor filed a Notice of Commencement of Arbitration with the Crown on January&nbsp;29,&nbsp;2011. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
joint venture owners of Syncrude have also filed a non-compliance notice with the Crown, citing that reasonable adjustments in the determination of the bitumen value were not
considered by the Crown, similar to the notice filed by Suncor in respect of the Suncor&nbsp;RAA. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Beginning
on January&nbsp;1, 2016, Suncor's Oil Sands Base and Syncrude operations will be subject to the generic royalty regime under OSRR 2009 that is currently in place for all other oil sands
royalty projects in Alberta, including Suncor's In Situ operations, as described below. </FONT></P>


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 </B></FONT><FONT SIZE=2><B>In Situ  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Under the New&nbsp;Royalty Framework, royalties on Suncor's Firebag and MacKay River projects are based on a sliding-scale rate of 25% to 40% of R-C, subject to a
minimum royalty of 1% to 9% of R, depending on oil prices for WTI from Cdn$55/bbl to the maximum rate at a WTI price of Cdn$120/bbl. A project remains subject to the minimum royalty
(the&nbsp;pre-payout phase) until the project's cumulative gross revenue exceeds its cumulative costs, including an annual investment allowance (the&nbsp;post-payout phase). In 2011,
Suncor incurred royalties at a rate of 34% of R-C for MacKay River, which reached the post-payout phase in November&nbsp;2010, and royalties averaging 6% of R for Firebag, which
continues in the pre-payout phase. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exploration and Production</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>For a discussion of the environmental and other regulatory conditions, competitive conditions, foreign operations and seasonal impacts affecting our
Exploration and Production segment, refer to the Industry Conditions and Risk Factors sections of this&nbsp;AIF.</I></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><U>East Coast Canada&nbsp;&#150;&nbsp;Assets and Operations</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Based in St.&nbsp;John's, Newfoundland and Labrador, this business focuses on high-volume production from three existing fields, interests in future developments
and expansions, and exploration drilling for new opportunities. Suncor holds a unique position as the only company with interests in all current producing fields. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Terra Nova  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Terra Nova oilfield is approximately 350&nbsp;km southeast of St.&nbsp;John's, Newfoundland. Terra Nova was discovered by Petro-Canada in 1984, and was the second
oilfield to be developed offshore Newfoundland and Labrador. Operated by Suncor, the production system uses a Floating Production, Storage and Offloading (FPSO) vessel that is moored on location, and
has gross production capacity of 180,000&nbsp;bbls/d and oil storage capacity of 960,000&nbsp;bbls. Terra Nova was the first harsh environment development in North America to use a FPSO vessel.
Actual production levels are lower than production capacity, reflecting current reservoir capability. Production from Terra Nova began in January&nbsp;2002. At December&nbsp;31, 2011, there were
28&nbsp;wells in operation: 16&nbsp;oil wells, nine water injection wells and three gas injection wells. Two of the oil wells have been shut in due to hydrogen sulphide (H<SUB>2</SUB>S) flow line
restrictions. In 2011, Suncor's share of Terra Nova production averaged 16,200&nbsp;bbls/d (2010&nbsp;&#150;&nbsp;23,200&nbsp;bbls/d). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>H<SUB>2</SUB>S
was detected in several oil wells in the fourth quarter of 2010. Wells and facilities directly and indirectly impacted by H<SUB>2</SUB>S have been shut in while the company implements
its mitigation plan to safely address the situation. In the fourth quarter of 2011, the company replaced a flow line that has remediated some of the H<SUB>2</SUB>S issues. Remaining H<SUB>2</SUB>S
remediation is anticipated to be completed as part of the dockside maintenance program scheduled to commence in the third quarter of 2012. The dockside maintenance program also includes replacement of
the FPSO&nbsp;swivel. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
December&nbsp;2010, the joint venture owners of the Terra Nova oilfield finalized the redetermination of working interests required under the Terra Nova Development and Operating Agreement
following field payout on February&nbsp;1, 2005. As a result, Suncor's working interest increased to 37.675% from 33.990% effective January&nbsp;1,&nbsp;2011. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Field
production is transported by shuttle tanker from the FPSO and either delivered directly to customers (if&nbsp;tanker schedules permit) or to the Newfoundland transshipment terminal in
Placentia Bay, where it is subsequently loaded onto tankers for transport to markets in Eastern Canada or the U.S.&nbsp;Suncor has a 14% ownership interest in the transshipment facility and is part
of a group of companies that share the operation of marine transportation assets for East Coast&nbsp;Canada. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Hibernia and the Hibernia Southern Extension Unit (HSEU)  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Hibernia oilfield, encompassing the Hibernia and Ben Nevis Avalon reservoirs, is approximately 315&nbsp;km southeast of St.&nbsp;John's and was the first field to be
developed in the Jeanne d'Arc Basin. Operated by Hibernia Management and Development Company&nbsp;Ltd., the production system is a fixed gravity base structure (GBS) that sits on the ocean floor,
and has gross production capacity of 230,000&nbsp;bbls/d and oil storage capacity of 1.3&nbsp;mmbbls. Actual production levels are lower, reflecting current reservoir capability and natural
declines. Hibernia commenced production in November&nbsp;1997. At December&nbsp;31, 2011, there were 64&nbsp;wells in operation: 35&nbsp;oil wells, 23&nbsp;water injection wells and six gas
injection. In 2011, Suncor's share of Hibernia production averaged 30,900&nbsp;bbls/d (2010&nbsp;&#150;&nbsp;30,900&nbsp;bbls/d). Hibernia uses the same transshipment
terminal and system of shuttle tankers that are used for Terra&nbsp;Nova. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Final
fiscal agreements were signed between the Hibernia joint venture owners and the Government of Newfoundland and Labrador in 2010 that established the fiscal, equity and operational principles for
the development of the HSEU. During 2011, the first two development wells were completed and are producing oil. Current development plans include drilling up to two additional producing wells and five
water injection wells in a subsea, excavated drill centre, known as a glory hole. The number of producing and injection wells required may be revised as the development proceeds and uncertainties
about reservoir capability are&nbsp;resolved. </FONT></P>

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<P style="font-family:;"><FONT SIZE=2><B>White Rose and the White Rose Extensions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>White Rose, the third oilfield development offshore Newfoundland, is about 350&nbsp;km southeast of St.&nbsp;John's. Operated by Husky Oil Operations Limited, White Rose
uses a FPSO vessel and has gross production capacity of 140,000&nbsp;bbls/d and oil storage capacity of 940,000&nbsp;bbls. Production from White Rose began in November&nbsp;2005. At
December&nbsp;31, 2011, there were 25&nbsp;wells in operation: twelve oil wells and 13&nbsp;water injection wells. In 2011, Suncor's share of White Rose production averaged 18,500&nbsp;bbls/d
(2010&nbsp;&#150;&nbsp;14,500&nbsp;bbls/d). White Rose uses the same transshipment terminal and the same system of shuttle tankers that are used for Hibernia and
Terra&nbsp;Nova. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2007, the White Rose joint venture owners signed a formal agreement with the Province of Newfoundland and Labrador for the development of the White Rose Extensions, which include the South White
Rose Extension, North Amethyst and West White Rose satellite fields. In May&nbsp;2010, first oil was achieved in North Amethyst, and development drilling is ongoing. Development of the West White
Rose Extension will be divided into two stages. The first stage was approved in 2009 and first oil was achieved during the third quarter of 2011 with the completion of the first production well. A
water injection well to support this initial production is expected to be completed in the second quarter of 2012. Results of the first stage, combined with other ongoing evaluation, will help define
the scope of the second&nbsp;stage. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>An
extended, 18-week off-station maintenance program is scheduled to commence in the second quarter of 2012 for the White Rose FPSO, primarily to address issues with the FPSO propulsion system. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Hebron  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Discovered in 1980, the Hebron oilfield is located 340&nbsp;km southeast of St.&nbsp;John's. In 2008, the Hebron joint venture owners reached an agreement with the
Government of Newfoundland and Labrador on commercial terms allowing development activities to proceed. The project is operated by ExxonMobil Canada Properties. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Development
of the Hebron project anticipates the construction of a concrete GBS that supports an integrated topsides deck to be used for production, drilling and accommodations. Development plans
include 1.2&nbsp;mmbbls of oil storage capacity and 52&nbsp;well slots with a gross oil production capacity of 150,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
contract for the front-end engineering and design of topsides, procurement and construction was awarded in September&nbsp;2010. Initial construction on the GBS began in
September&nbsp;2011 in Newfoundland and Labrador.
The decision from the joint venture owners of Hebron to sanction the development of Hebron is anticipated in late 2012, with initial production anticipated in late&nbsp;2017. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Assets  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Ballicatters discovery well, located 22&nbsp;km northeast of Hibernia, was completed earlier in 2011 and is comprised of gas and oil. Suncor and its partner are currently
evaluating potential options to commercialize the&nbsp;discovery. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
continues to pursue opportunities offshore Newfoundland and Labrador. The company holds interests in 48&nbsp;other significant discovery licences and six other exploration licences offshore
Newfoundland and&nbsp;Labrador. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>International&nbsp;&#150;&nbsp;Assets and Operations</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Buzzard&nbsp;&#150;&nbsp;North Sea  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Buzzard oilfield is located in the Outer Moray Firth, 95&nbsp;km northeast of Aberdeen, Scotland. Operated by Nexen Petroleum U.K.&nbsp;Limited, the Buzzard facilities
have gross installed production capacity of approximately 220,000&nbsp;bbls/d of oil and 80&nbsp;mmcf/d of natural gas. Oil production rates at Buzzard are currently limited to a maximum of
approximately 215,000&nbsp;bbls/d due to restrictions on third-party pipeline systems. Work is ongoing with the pipeline operator to increase the maximum production rate closer to the gross oil
production capacity. Buzzard commenced production in January&nbsp;2007. Buzzard consists of four bridge-linked platforms supporting wellhead facilities, production facilities, living quarters and
utilities, and sulphur handling. In 2011, commissioning was completed for the fourth platform, which was installed to remove H<SUB>2</SUB>S from oil production from some segments of the field. At
December&nbsp;31, 2011, there were 40&nbsp;wells in operation: 29&nbsp;oil and gas wells and 11&nbsp;water injection wells. In 2011, Suncor's share of Buzzard production averaged
42,900&nbsp;boe/d (2010&nbsp;&#150;&nbsp;55,500&nbsp;boe/d). </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Crude
oil is transported via the third-party operated Forties Pipeline System to the Kinneil terminal in Scotland. Natural gas is transported via the third-party operated Frigg pipeline to the
St.&nbsp;Fergus gas terminal in&nbsp;Scotland. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Golden Eagle&nbsp;&#150;&nbsp;North Sea  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During 2011, the Golden Eagle Area Development received regulatory approval from the U.K.&nbsp;Department of Energy and Climate Change. This development is approximately
70&nbsp;km from the Aberdeen shore and consists of the unitization of the Pink, Hobby and Golden Eagle discoveries completed from 2007 to 2009. The development plan incorporates a combined
production, utilities and accommodation platform, linked to a separate wellhead platform, with an initial gross production rate of 70,000&nbsp;boe/d (gross) from 20&nbsp;development wells. The
operator, Nexen Petroleum U.K.&nbsp;Limited, estimates that the gross </FONT></P>

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<P style="font-family:;"><FONT SIZE=2>development
cost will be &pound;2&nbsp;billion (Cdn$3.3&nbsp;billion). First production is expected late in 2014 or early 2015. The joint venture owners of Golden Eagle also hold adjacent
exploration licences and continue to explore the&nbsp;region. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Beta&nbsp;&#150;&nbsp;North Sea  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In the Norway portion of the North Sea, Suncor is the operator of the Beta discovery. Suncor has a 65% working interest in this field, which is currently under evaluation. The
company completed the first exploration well in early 2010, encountering hydrocarbons. An appraisal well was drilled and tested later in 2010 with positive results. Suncor has secured a rig to drill a
third appraisal well, which is scheduled to commence in the second quarter of&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Assets&nbsp;&#150;&nbsp;North Sea  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During 2011, the operator for the PL405&nbsp;licence (in&nbsp;the Norway portion of the North Sea) in which Suncor has a 30% interest, drilled an exploration well resulting
in a discovery, referred to as the Butch prospect. A sidetrack well subsequently drilled at this prospect was abandoned early in 2012, due to well instability, before reaching its intended depth. In
the U.K.&nbsp;portion of the North Sea, Suncor, as operator, has secured a rig and expects to drill a joint exploration well for the Romeo joint venture prospect (Block&nbsp;30/11c). The joint
well is to be drilled to comply with work commitments for two adjacent licences, one held by Suncor and its co-venturers, and the other by Total E&amp;P U.K.&nbsp;Limited. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>In
late 2010 and early 2011, the company disposed of non-core assets in the U.K portion of the North Sea, including its working interests in production from the Guillemot and Scott/Telford
areas. Also, in August&nbsp;2010, the company disposed of non-core assets in the Netherlands portion of the North&nbsp;Sea. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Syria  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Located in the Central Syrian Gas Basin, the Ebla project includes all hydrocarbons in the Ash Shaer and Cherrife development areas, which cover more than 300,000&nbsp;acres.
Suncor conducts its Syrian operations pursuant to a PSC, under which the company is a joint owner of the Ebla project with the General Petroleum Corporation (GPC). Under the
PSC, the company pays 100% of the development costs and recovers these costs from a 40% share of production after deduction for royalties of 12.5%. This petroleum revenue is referred to as Cost
Recovery petroleum. The amount by which Cost Recovery petroleum exceeds recoverable cost is referred to as Excess Cost Recovery petroleum; 50% of this amount is due to the&nbsp;GPC and the remaining
50% is shared between Suncor and the&nbsp;GPC according to a profit-sharing schedule. The Ebla PSC expires in April&nbsp;2035, but includes a five-year extension subject to&nbsp;GPC
approval. First commercial gas production from Ebla was achieved in April&nbsp;2010 and first oil was achieved in December&nbsp;2010. In 2011, Suncor's share of production in Syria averaged
17,600&nbsp;boe/d (2010&nbsp;&#150;&nbsp;11,600&nbsp;boe/d). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Ebla development comprises six natural gas producing wells in the Ash Shaer field, a gas gathering and compression station, approximately 80&nbsp;km of pipeline, and a gas treatment plant. The
facility is designed to produce 97&nbsp;mmcf/d of natural gas, along with related&nbsp;LPG and condensate volumes. Natural gas is delivered into the Syrian national gas grid for domestic
consumption. The Ebla development also includes three wells producing crude oil, which is sold to the&nbsp;GPC. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
December&nbsp;2011, amid continuing unrest in Syria, sanctions were introduced and Suncor declared force majeure under its contractual obligations and suspended its operations in the country.
Suncor withdrew its expatriate staff and undertook measures to maintain support for its Syrian employees. Consequently, the company has ceased recording all production and revenue associated with its
Syrian&nbsp;assets. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Libya  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In Libya, Suncor acts pursuant to several EPSAs that enable Suncor and the Libya National Oil Corporation (NOC) to jointly design and implement the redevelopment of existing
fields in the Sirte Basin. Existing reserves are associated with five separate agreements (EPSAs I through V), which contain five primary production fields. Under the EPSAs, the company pays 100% of
the exploration costs, 50% of the development and 12% of the operating costs, and recovers these costs from a 12% share of production, also referred to as Cost Recovery. Any petroleum remaining after
Cost Recovery is referred to as Excess Petroleum, and is shared between Suncor and the NOC based on a profit-sharing schedule affected by several factors, with Suncor's share of profit ranging from 4%
to 12%. The EPSAs expire on December&nbsp;31, 2032, but include an initial five-year extension through the end of 2037. In 2011, Suncor's share of production in Libya averaged
12,100&nbsp;bbls/d (2010&nbsp;&#150;&nbsp;35,200&nbsp;bbls/d). Libya is a member of the Organization of Petroleum Exporting Countries (OPEC) and is subject to quotas that
can affect the company's production in&nbsp;Libya. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
most of the period from March to September&nbsp;2011, the operator for the joint venture, Harouge Oil Operations&nbsp;BV (Harouge) shut in production as a result of political unrest that began
earlier in the year. Sanctions prohibiting the purchase of oil from Libya, among other things, were also introduced by many governments. In March&nbsp;2011, Suncor declared force majeure under its
EPSAs. Beginning late in the third quarter of 2011, a new governing authority was formed in Libya and sanctions were lifted. By January&nbsp;2012, Harouge had successfully restarted production from
all major producing fields and work continues to stabilize production levels. Net production exiting December&nbsp;2011 was approximately 30,000&nbsp;bbls/d. Suncor remains optimistic about a
gradual return to full operations in Libya and is working to remove its ESPAs from force majeure, where&nbsp;possible. </FONT></P>

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<P style="font-family:;"><FONT SIZE=2>As
a result of the merger, the company assumed the remaining US$500&nbsp;million obligation for a signature bonus relating to Petro-Canada's ratification of the EPSAs in 2008. As at
December&nbsp;31, 2011, the undiscounted value of Suncor's
remaining obligation is US$347 million, payable in several instalments through 2013. In addition, as part of its contractual obligations under the EPSAs, Suncor is the exploration operator and has
committed to fully fund an exploration program, at an estimated remaining cost of US$360 million. As at December&nbsp;31, 2011, Suncor is still under condition of force majeure with respect to its
EPSAs and has re-engaged Harouge to discuss current operations and future plans, including contractual obligations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>North America Onshore&nbsp;&#150;&nbsp;Assets and Operations</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The North America Onshore business includes the assets and operations previously reported under Suncor's Natural Gas segment, which is now part of the Exploration and Production
segment. This business explores for, develops and produces natural gas, NGLs, crude oil and byproducts in Western Canada. After the merger with Petro-Canada, this business implemented a strategy with
greater emphasis on liquids-rich and unconventional sources, and, as a result, disposed of a number of non-core assets throughout 2010 and&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Given
the vast amount of natural gas brought on-stream in North America by recent advances in shale gas technology, coupled with the economic downturn in 2008 and 2009, natural gas
producers in North America continue to face relatively low gas prices. In light of this environment, Suncor has implemented a strategy to make its operations in this region more profitable. One
component of that strategy involved selling assets that were no longer deemed core to Suncor's business strategy. As market conditions for such divestitures worsened, Suncor has started to focus more
on another component of its strategy&nbsp;&#150;&nbsp;becoming more profitable in this region, primarily by increasing activity in tight oil projects. The company is also
assessing and pursuing activities to grow the unconventional side of its North America Onshore operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, Suncor's share of production from its North America Onshore properties was 388&nbsp;mmcfe/d (2010&nbsp;&#150;&nbsp;575&nbsp;mmcfe/d) with approximately
21&nbsp;mmcfe/d of production in 2011 coming from assets that were disposed throughout the year (2010&nbsp;&#150;&nbsp;143&nbsp;mmcfe/d). Natural gas represented 92% of
production in 2011 (2010&nbsp;&#150;&nbsp;91%), with crude oil and NGL production representing the remainder. North America Onshore also sells sulphur, a byproduct of processing
operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operations
are primarily focused on multiple geological zones throughout Western Canada. The business is structured with the following asset&nbsp;areas: </FONT></P>

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<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="50%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Zone / Area</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Primary<BR>
Focus</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2011<BR>
mmcfe/d</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Montney, Triassic and Slave Point</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Southeast Alberta</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Sweet, dry gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Foothills&nbsp;&#150;&nbsp;western Alberta, portions of northeast B.C.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Mississippian sour gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>161</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Plains&nbsp;&#150;&nbsp;western Alberta</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Cardium oil, Cretaceous gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>388</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<P style="font-family:;"><FONT SIZE=2>In addition, Suncor holds assets that could allow the company to eventually explore long-term supply opportunities in northern frontier&nbsp;areas. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Natural
gas extracted from the wellhead requires further processing. In Western Canada, Suncor operates several natural gas processing plants, with total licensed capacity of 772&nbsp;mmcf/d, of
which the company's share is 470&nbsp;mmcf/d. Capacity not utilized by the company's own production is optimized through processing agreements with third-party producers. Suncor also has varying
working interests in other natural gas processing plants and field gathering facilities operated by other oil and natural gas companies. The company's aggregate share from such interests is
91.5&nbsp;mmcf/d of licensed capacity. The following table shows Suncor's working interest ownership and the licensed capacity of operated processing plants as at December&nbsp;31,&nbsp;2011. </FONT></P>

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<TD WIDTH="47%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Suncor Operated Natural Gas Processing Plants</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Zone / Area</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Working<BR>
Interest<BR>
Ownership<BR>
%</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross<BR>
Licensed<BR>
Capacity<BR>
mmcf/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net<BR>
Licensed<BR>
Capacity<BR>
mmcf/d</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Hanlan Sour</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Foothills</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49.86</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>382.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>190.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Hanlan Sweet</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Foothills</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Ferrier</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Plains</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Gilby East</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Plains</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Wilson Creek</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Plains</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.17</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Progress</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.01</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Boundary Lake Sour</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Boundary Lake Sweet</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Parkland 1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.98</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Parkland 2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Northeast B.C.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.75</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>771.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>470.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>18</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=23,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=70501,FOLIO='18',FILE='DISK124:[12ZAL1.12ZAL49101]DI49101A.;25',USER='JDAY',CD='29-FEB-2012;16:32' -->
<A NAME="page_di49101_1_19"> </A>

<P style="font-family:;"><FONT SIZE=2>Natural gas production from Alberta is typically sold at the Nova Inventory Transfer point (NIT), which is one of the largest natural gas trading hubs in North
America. Natural gas at NIT generally receives a daily or monthly average AECO (Alberta) spot price. Natural gas production from B.C. is typically sold at Station 2, part of the Spectra B.C.
transmission system, and receives the Station 2&nbsp;Gas Daily Index price, but can also be moved on the Alliance Pipeline system to its terminus in Illinois. To provide diversity in access to
markets, Suncor holds firm capacity on the Alliance Pipeline system and the TransCanada PipeLines Gas Transmission Northwest Pipeline (GTN). The GTN firm capacity enables Suncor to deliver natural gas
to the Pacific Northwest and California markets. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Conventional
crude oil production from North America Onshore assets is shipped on pipelines operated by independent pipeline companies. We currently have no pipeline commitments related to the
shipment of conventional crude oil. In most sale arrangements, Suncor is responsible for transportation to the point of&nbsp;sale. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Sales of Principal Products</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil and gas production from East Coast Canada and the North Sea, and substantially all production from North America Onshore, are sold to our Energy Trading business, which then
markets the products to customers under direct sale arrangements. Suncor does not typically enter into long-term supply arrangements to sell its production from its Exploration and
Production segment. Contracts for these direct sales arrangements are of varied terms, with a majority having terms of one year or less, and incorporate pricing that is generally determined on a daily
or monthly basis in relation to a specified market reference price. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
Syria, the company entered into purchase and sale agreements with the Syrian government for all hydrocarbon production from the Ebla project. In Libya, hydrocarbon production is marketed by the
Libyan government on behalf of&nbsp;Suncor. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
each of Exploration and Production's operations, and for Exploration and Production in total, the following table provides information on average sales volumes for principal products and the
corresponding percentage of operating revenues for 2011 and&nbsp;2010: </FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sales Volumes</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>East Coast Canada&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Crude oil</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1> International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Crude oil and NGLs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1> North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Crude oil and NGLs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Crude oil and NGLs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>119.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>174.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>73.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Operating
revenues for East Coast Canada include crude oil marketed on behalf of our partner in White&nbsp;Rose. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B><U>Royalty Agreements</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>East Coast Canada  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Terra Nova royalty consists of a sliding-scale, basic royalty payable throughout the project's life, with two tiers of incremental royalties, which became payable upon the
achievement of specified levels of profitability that included an additional return allowance. The basic royalty is now capped at 10% of gross field revenue, based on the project reaching a specified
cumulative production level. The tier one royalty is the greater of the basic royalty or 30% of net revenue, and became payable in 2005. Net revenue is gross revenue adjusted for eligible operating
and capital costs. The tier two royalty, equal to 12.5% of net revenue, became payable in 2008. During 2011, Terra Nova royalty expense averaged 32% of gross revenue
(2010&nbsp;&#150;&nbsp;35%). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Hibernia royalty agreement for production from the original oilfields and the AA Block consists of a sliding-scale gross royalty, two tiers of incremental royalty, and an additional net profits
interest (NPI). The basic royalty is now capped at 5% of gross revenue, as the project has reached a specified cumulative production level. The tier one royalty, which became payable in 2009, is the
greater of the gross royalty or 30% of net revenue. The tier two royalty is 12.5% of net revenue, but has not yet been triggered. Production from the AA Block, which commenced in late 2009, attracts
an additional super royalty of 12.5% of net revenue. The NPI, which also became payable in 2009, is an additional 10% of net&nbsp;revenue. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Limited
production from the HSEU began in 2011. The HSEU has a similar royalty structure (gross, tier one and tier two) to that described above for Hibernia. Currently, Suncor is only subject to a 5%
gross royalty. HSEU production will be subject to an additional super royalty that ranges between 2.5% and 7.5% of net revenue, depending on the price for WTI. The HSEU super </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>19</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>royalty
will coincide with the triggering of the tier one net royalty. During 2011, Hibernia (including the HSEU) royalty expense and net profits interest combined to average 37% of gross revenue
(2010&nbsp;&#150;&nbsp;38%). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
White Rose royalty for the base project consists of a sliding-scale basic royalty payable throughout the project's life, with two tiers of incremental royalties, which became payable upon the
achievement of specified levels of profitability that included an additional return allowance. The basic royalty is now capped at 7.5% of gross field revenue, based on the base project reaching a
specified cumulative production level. The tier one royalty is the greater of the basic royalty or 20% of net revenue, and became payable in 2007. Net revenue adjusts gross revenue for eligible
operating and capital costs. The tier two royalty, equal to 10% of net revenue, became payable in 2008. The White Rose Extensions royalty is similar to the base project, except that there is a tier
three royalty, equal to 6.5% of net revenue, which is
payable if WTI is greater than Cdn$50/bbl. None of the tier royalties have been triggered for the White&nbsp;Rose Extensions. During 2011, total White Rose royalty expense averaged 14% of gross
revenue (2010&nbsp;&#150;&nbsp;25%). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>International  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are no royalties on oil and gas production from the North Sea; however, in the U.K.,&nbsp;oil and gas profits are subject to a 62% income tax rate. For operations in
Libya and Syria, all government interests, except for income taxes, are presented as&nbsp;royalties. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>North America Onshore  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties for Suncor's North America Onshore production in Alberta are regulated by the </FONT><FONT SIZE=2><I>Natural Gas Royalty Regulation&nbsp;2009</I></FONT><FONT SIZE=2>,
introduced as part of the New&nbsp;Royalty Framework, which came into effect on January&nbsp;1, 2009, but was later modified by changes that came into effect on January&nbsp;1, 2011. Royalties
for natural gas and conventional oil production are set by a sliding-scale formula&nbsp;&#150;&nbsp;ranging from 5% to 36% for natural gas and 0% to 40% for conventional crude
oil&nbsp;&#150;&nbsp;that is dependent on factors such as well depth, production rate, and the price and quality of natural gas and crude oil. The maximum rates of 36% and 40%
for the sliding-scales became effective on January&nbsp;1, 2011 and were both reduced from 50%. NGLs have royalty rates of 30% for propane and butane and 40% for&nbsp;pentanes. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>In
response to the drop in commodity prices experienced during the second half of 2008, the provincial government introduced the New&nbsp;Well Royalty Reduction Program with the intent of promoting
new drilling. New wells drilled after April&nbsp;1, 2009 are subject to an initial 5% royalty for the first twelve months of production, subject to a 500&nbsp;mmcfe or 50&nbsp;mboe volume cap.
After May&nbsp;1, 2010, new wells that started producing exclusively from shale formations qualify for a maximum 5% royalty on all production for the first 36&nbsp;months of production, and are
not subject to volume&nbsp;caps. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Alberta government's Natural Gas Deep Drilling Program also provides royalty relief for wells drilled beyond 2000&nbsp;metres (true vertical depth). The maximum royalty rate for these wells is
5%, which applies for five years after the finished drilling date, and is subject to dollar caps that are determined based on total depth and whether the well is exploratory or developmental. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
and capital costs for gathering, compressing and processing facilities, and processing costs on a fee-for-service basis are allowable costs for deduction from gas and
natural gas liquids gross royalties payable. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties
for Suncor's North America Onshore production in British Columbia are regulated primarily by the Petroleum and Natural Gas Royalty and Freehold Production Tax Regulation. Royalty rates for
natural gas production are subject to different formulas based on the date the well was drilled. Wells drilled before June&nbsp;1998 attract a rate starting at 15%. Wells drilled after
June&nbsp;1998 attract a royalty starting at 9% or 12%, depending on whether wells were completed within five years of the date drilling rights were issued, and are subject to a sliding scale with a
maximum royalty rate of 27% as prices increase. Similar to Alberta, royalty programs exist in British Columbia to provide relief for deep drilling, lower production rates, and unique production
methods. Royalties on NGLs are assessed at a flat rate of 20% of&nbsp;sales. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Expenses
for field gathering, compression and field processing are allowed as cost of services deductions from gross royalties, and royalty clients who use producer-owned processing facilities or
distribution systems are also entitled to operating and capital cost deduction for these facilities. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>During
2011, royalty expense for North America Onshore production averaged 11% of gross revenue (2010&nbsp;&#150;&nbsp;14%). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Refining and Marketing</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>For a discussion of the environmental and other regulatory conditions, and competitive conditions and seasonal impacts affecting our Refining and
Marketing segment, refer to the Industry Conditions and Risk Factors sections of this&nbsp;AIF.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Operations&nbsp;&#150;&nbsp;Refining and Product Supply</U>  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Eastern North America  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Effective January&nbsp;1, 2012, the Montreal refinery had a crude oil capacity of 137,000&nbsp;bbls/d. The observed performance of the refinery, after improvements in
reliability and operations, enabled the nameplate capacity to be upwardly revised from the previously reported capacity of 130,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>20</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>The
refinery processes primarily foreign conventional crude oil, with a flexible configuration that allows processing of light, sour and heavy grades of crude oil, as well as intermediate feedstocks.
Crude oil is procured from the market on a spot basis or under contracts that can be terminated on short notice. Crude oil for the refinery is largely supplied by the Portland-Montreal Pipeline. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
yield from the Montreal refinery includes gasoline, distillates, asphalts, heavy fuel oil, petrochemicals and solvents, which are distributed primarily across Quebec and Ontario. The
Montreal refinery also produces feedstock for our lubricants plant. Refined products are delivered to distribution terminals in Ontario via the Trans-Northern Pipeline and delivered to customers
directly by truck, rail and marine&nbsp;vessel. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Sarnia refinery has a crude oil capacity of 85,000&nbsp;bbls/d, processing both SCO supplied by the company's Oil Sands operations and conventional crude oil purchased from third parties on a
spot basis or under contracts that can be terminated on short notice. Crude oil is supplied to the Sarnia refinery primarily via the Enbridge pipelines system. Suncor procures conventional crude oil
feedstock primarily from Western Canada, but periodically supplements supply with purchases from the U.S. and other countries. Foreign crude oil is delivered to Sarnia via the Enbridge pipeline system
from&nbsp;Montreal. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
yield from the Sarnia refinery includes gasoline, distillates and petrochemicals, which are primarily distributed in Ontario. Refined products are delivered to distribution terminals in
Ontario via the Sun-Canadian Pipeline, or delivered to customers directly via marine vessel and rail. The Sarnia refinery also has limited access to pipelines delivering refined product
into the&nbsp;U.S. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>To
meet the demands of Suncor's marketing network in Eastern North America, the company also imports gasoline and distillates from refiners in Europe. Suncor enters into reciprocal exchange
arrangements with other refiners in Eastern North America, primarily for gasoline and distillates, as a means of minimizing transportation costs and balancing product availability. Specialty products,
such as asphalts and petrochemicals, are also exported to customers in the&nbsp;U.S. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
holds a 51% interest in ParaChem Chemicals&nbsp;L.P. (ParaChem), which owns and operates a petrochemicals plant located adjacent to the Montreal refinery. Feedstock for the plant includes
xylene and toluene produced by the Montreal and Sarnia refineries. The plant primarily produces up to 350,000&nbsp;metric tons per year of paraxylene, which is used by customers to manufacture
polyester textiles and plastic bottles. ParaChem also produces benzene, hydrogen and heavy aromatics. Benzene production is delivered back to the Montreal refinery to be marketed with production from
that&nbsp;facility. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
lubricants plant produces specialty lubricants and waxes that are marketed in Canada and internationally. The facility is the largest producer of lubricant base stocks in Canada, with annual
base oil production capacity in excess of 900&nbsp;million litres. Feedstock for the lubricants facility comes from Suncor's Montreal refinery and other purchase contracts. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Western North America  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Edmonton refinery has a crude oil capacity of 135,000&nbsp;bbls/d and has the potential to run entirely on feedstocks sourced from oil sands and heavy crude oil from
Alberta. Feedstock is supplied from Suncor's Oil Sands Base operations, Syncrude operations (including volumes purchased by Suncor from other joint venture owners' share of production) and other
producers from the Athabasca and Cold Lake regions of Alberta. The refinery can process directly 35,000&nbsp;bbls/d of blended feedstock (comprised of 25,000&nbsp;bbls/d of bitumen and
10,000&nbsp;bbls/d of diluent) and process 45,000&nbsp;bbls/d of sour SCO. The refinery can also process 55,000&nbsp;bbls/d of sweet SCO through its synthetic train. Crude oil is supplied to the
refinery via third-party pipelines. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
yield from the Edmonton refinery includes primarily gasoline and distillates, which are delivered to distribution terminals across Western Canada via the Alberta Products Pipeline, the
TransMountain Pipeline and the Enbridge pipeline system, as well as via truck and&nbsp;rail. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Effective
January&nbsp;1, 2012, the Commerce City refinery had a crude oil capacity of 98,000&nbsp;bbls/d. The observed performance of the refinery, after improvements in reliability and
operations, enabled the nameplate capacity to be upwardly revised from the previously reported capacity of 93,000&nbsp;bbls/d. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
refinery processes primarily conventional crude oil, but also has the capability of processing up to 15,000&nbsp;bbls/d of sour SCO from Suncor's Oil Sands Base operations. A majority of crude
feedstock is supplied from sources in the U.S., primarily the Rocky Mountain region, while the remainder is purchased from Canadian sources. Crude oil purchase contracts have terms ranging from
month-to-month to multi-year. Approximately 60% of crude oil supplied to the refinery is transported via pipeline, with the remainder transported via&nbsp;truck. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
yield from the Commerce City refinery includes primarily gasoline, diesel and asphalt. The majority of the refined products from the refinery are sold to commercial and wholesale customers
in Colorado and Wyoming, and a retail network in Colorado. Refined products are distributed by truck, rail, and&nbsp;pipeline. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>To
support supply and demand balance in the Vancouver area, Suncor imports and exports finished products through its Burrard distribution terminal on the west coast of Canada. Suncor also enters into
reciprocal exchange arrangements with other refiners in Western North America as a means of minimizing transportation costs and balancing product availability. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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<BR>

<P style="font-family:;"><FONT SIZE=2><B>Refinery Throughputs, Utilizations and Yields  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following table summarizes the crude feedstock and utilizations for Suncor's refineries for the years ended December&nbsp;31, 2011 and 2010. Refinery utilizations for 2011
include the impacts of planned maintenance events at the Sarnia, Edmonton and Commerce City refineries, and the impacts of a month-long disruption to third-party hydrogen supply
at&nbsp;Edmonton. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Average Daily Crude Throughput</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Montreal</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sarnia</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Edmonton</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Commerce City</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>(mbbls/d, except as noted)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Oil Sands Base sweet synthetic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Oil Sands Base sour synthetic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Other synthetic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>East Coast Canada light conventional&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Other light conventional</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Sour conventional</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Heavy conventional</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>130.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>121.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>115.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>118.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>99.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="33%" style="font-family:;"><FONT SIZE=1>Utilization&nbsp;<SUP>(2)</SUP>&nbsp;(%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
purchases of Suncor and third-party shares of production from East Coast Canada oilfields.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Utilization
rates for Montreal and Commerce City are determined based on refinery capacities in effect prior to January&nbsp;1,&nbsp;2012. </FONT></DD></DL>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Refined petroleum production yield mix</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Montreal</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sarnia</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Edmonton</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Commerce City</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>(%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Gasoline</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Distillates</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>Distribution Terminals and Pipelines  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor owns and operates 13&nbsp;major refined products terminals across Canada and two product terminals in Colorado. Combined with access to facilities under
long-term contractual arrangements with other parties, Suncor's North American assets are sufficient to meet Refining and Marketing's current storage and distribution needs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has ownership interests in the following pipelines: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Pipeline</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Ownership</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Type</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Origin</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Destinations</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Portland-Montreal Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.8%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Crude oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Portland, Maine</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Montreal, Quebec</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Trans-Northern Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Refined product</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Montreal, Quebec</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Ontario&nbsp;&#150;&nbsp;Ottawa,<BR>
Toronto, Oakville</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Sun-Canadian Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Refined product</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Sarnia, Ontario</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Ontario&nbsp;&#150;&nbsp;Toronto,<BR>
London, Hamilton</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Alberta Products Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Refined product</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Edmonton, Alberta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Calgary, Alberta</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Rocky Mountain Crude Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Crude oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Guernsey, Wyoming</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Denver, Colorado</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="31%" style="font-family:;"><FONT SIZE=1>Centennial Pipeline</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.0%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Crude oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Guernsey, Wyoming</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" style="font-family:;"><FONT SIZE=1>Cheyenne, Colorado</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B><U>Operations&nbsp;&#150;&nbsp;Marketing</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's retail service station network operates nationally in Canada under the Petro-Canada<SUB>TM</SUB> brand. As at December&nbsp;31, 2011, Suncor's branded retail service
station network consisted of 1,465&nbsp;outlets across Canada. Most of Suncor's owned and operated Sunoco<SUB>TM</SUB>-branded retail sites were re-branded to the
Petro-Canada<SUB>TM</SUB> brand in 2010. In addition to marketing through proprietary retail outlets, petroleum product is marketed through independent dealers and joint arrangements. Suncor's
network had annual sales of gasoline motor fuels averaging approximately 4.9&nbsp;million litres per site in 2011 (2010&nbsp;&#150;&nbsp;5.1&nbsp;million litres per site)
and attracted an estimated 18% share (2010&nbsp;&#150;&nbsp;19% share) of the national retail market (based on data available from Statistics Canada for the period from January
to August&nbsp;2011). The decline in market share in 2011 primarily reflects the loss of volume associated with the disposal of numerous retail sites in 2010 as mandated by the Canadian Competition
Bureau as a result of the&nbsp;merger. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
Colorado retail network consists of 44&nbsp;owned outlets. Suncor has product supply agreements with an additional 195&nbsp;Shell&reg;-branded sites and 62&nbsp;Phillips
66&reg;-branded sites in&nbsp;Colorado. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Marketing
activities also generate non-petroleum revenues from convenience stores and car&nbsp;washes. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
wholesale operations sell petroleum products into farm, home heating, paving, small industrial, commercial and truck markets. Through its PETRO-PASS network, Suncor is the leading
national marketer to the commercial road transport segment in Canada. Suncor also sells large volumes of petroleum products directly to large industrial and commercial customers and independent
marketers. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>22</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=27,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=580966,FOLIO='22',FILE='DISK124:[12ZAL1.12ZAL49101]DI49101A.;25',USER='JDAY',CD='29-FEB-2012;16:32' -->
<A NAME="page_di49101_1_23"> </A>

<P style="font-family:;"><FONT SIZE=2>The
following tables summarize the locations comprising Suncor's retail and wholesale network and the daily sales volumes and corresponding percentages of Refining and Marketing's operating revenues
for the years ended December&nbsp;31, 2011 and&nbsp;2010. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Locations</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at December&nbsp;31</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Retail Service Stations&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="77%" style="font-family:;"><FONT SIZE=1>Petro-Canada<SUB>TM</SUB>-branded</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;456</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;447</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="77%" style="font-family:;"><FONT SIZE=1>Sunoco<SUB>TM</SUB>-branded</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;465</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;457</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Retail Service Stations&nbsp;&#150;&nbsp;Colorado</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="77%" style="font-family:;"><FONT SIZE=1>Shell&reg;-branded retail service stations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="77%" style="font-family:;"><FONT SIZE=1>Phillips 66&reg;-branded retail service stations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Wholesale Cardlock Sites&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="77%" style="font-family:;"><FONT SIZE=1>Petro-Canada<SUB>TM</SUB>-branded cardlock sites (PETRO-PASS)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>249</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sales Volumes</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>thousands of<BR>
m<SUP>3</SUP>/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>thousands of<BR>
m<SUP>3</SUP>/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>% operating<BR>
revenues</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Gasoline (includes motor and aviation gasoline)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Distillates (includes diesel and heating oils, and aviation jet fuels)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other (includes heavy fuel oil, asphalts, lubricants, petrochemicals, other)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>Sales volumes for specific products are somewhat impacted by seasonal cycles: gasoline sales are typically higher during the summer driving season; heating oil
sales are typically higher during the winter season; diesel sales are typically higher during the drilling season at the beginning of the year in Western Canada, and during agricultural planting and
harvest seasons in early spring and late summer, respectively; and asphalt sales are typically higher during the summer construction paving period. Suncor has the flexibility to modify refinery inputs
and outputs to match production yields with anticipated product demands. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Sales
volumes can also be impacted when refineries undergo planned maintenance events, which reduce production. Suncor is able to partially mitigate this impact through its integrated facilities: the
Edmonton refinery and Oil Sands Base upgrading facilities in Western North America, and the Sarnia and Montreal refineries in Eastern North America. In addition, Suncor may purchase refined products
from third-party suppliers. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Other Suncor Businesses</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><U>Energy Trading</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's Energy Trading business is organized around four main commodity groups&nbsp;&#150;&nbsp;crude oil, natural gas, sulphur and petroleum coke. Each
commodity group provides value to customers through innovative commodity supply, transportation and pricing solutions. Our customers include mid- to large-sized commercial and industrial
consumers, utility companies and energy producers, all of which demand specialized solutions to meet unique energy requirements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Energy Trading business supports the company's Oil Sands production by optimizing price realizations, managing inventory levels during unplanned outages at Suncor's facilities and managing the
impacts of external market factors, like pipeline disruptions or outages at refining customers. The Energy Trading business has entered into arrangements for other midstream infrastructure, such as
pipeline and storage capacity, to optimize delivery of existing and future growth production, while generating trading earnings on select strategies and opportunities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Energy Trading business continues to evaluate additional pipeline agreements to support planned increases in production capacity. Until the company completes its Oil Sands growth projects,
Suncor's Energy Trading business expects to optimize the capacities associated with existing arrangements. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>23</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=28,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=523877,FOLIO='23',FILE='DISK124:[12ZAL1.12ZAL49101]DI49101A.;25',USER='JDAY',CD='29-FEB-2012;16:32' -->
<A NAME="page_di49101_1_24"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2><B><U>Renewable Energy</U>  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's renewable energy interests include a corn-based ethanol facility in southwest Ontario and six wind power projects in operation. Suncor is a Canadian pioneer
in wind power with its investments in wind farms, which have a gross generating capacity of 255&nbsp;MW and reduce carbon dioxide (CO<SUB>2</SUB>) emissions by approximately 470,000&nbsp;tonnes
each year, compared with traditional power generation sources. We continue to evaluate new opportunities to build our renewable energy portfolio, and have a number of potential wind power project
sites in various stages of&nbsp;evaluation. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Wind Farm</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Ownership<BR>
Interest (%)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Size (MW)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Turbines</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Commissioned</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operated by Suncor</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Wintering Hills</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Drumheller, Alberta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Kent Breeze</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Thamesville, Ontario</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Non-operated</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Ripley</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Ripley, Ontario</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2007</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Chin Chute</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Taber, Alberta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2006</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Magrath</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Magrath, Alberta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2004</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>SunBridge</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="21%" style="font-family:;"><FONT SIZE=1>Gull Lake, Saskatchewan</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50 .0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2002</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2>Since 2006, Suncor has invested in Canada's emerging biofuels industry. Suncor operates Canada's largest ethanol facility, the St.&nbsp;Clair Ethanol Plant in
the Sarnia-Lambton region of Ontario. Our ethanol plant had an original production capacity of 200&nbsp;million litres per year, which has since doubled with the completion of the plant expansion in
January&nbsp;2011. In 2011, the plant produced 381.5&nbsp;million litres of ethanol (2010&nbsp;&#150;&nbsp;206.0&nbsp;million litres). </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SUNCOR EMPLOYEES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following table shows the distribution of employees among our business units and corporate office for the past two&nbsp;years. </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As of December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;464</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;753</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>768</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>898</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;161</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;151</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Renewable Energy</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;633</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;274</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;026</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;076</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2>Corporate includes employees from our Major Projects group, which supports the business units. In addition to our employees, the company also uses independent
contractors to supply a range of&nbsp;services. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Approximately
36% of the company's employees were covered by collective bargaining agreements at the end of 2011. The Communications, Energy and Paperworkers Union (CEP) represented the majority of
the company's unionized employees. A collective agreement with CEP Local 707&nbsp;representing approximately 3,200&nbsp;Oil Sands employees is in force and expires in May&nbsp;2013. Collective
agreements that will expire in January&nbsp;2013 are also in place with the CEP for approximately 1,000&nbsp;employees in the company's refinery, lubricants, natural gas, and terminal operations.
A collective agreement with the CEP representing approximately 65&nbsp;employees for the Terra Nova facility was renewed in 2011 and will expire in September&nbsp;2013. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>A
collective agreement with the United Steel Workers Union representing approximately 260&nbsp;employees at the Commerce City refinery was recently renewed and will expire in January 2015. An
independent union, the Suncor Employee Bargaining Association, represents approximately 200&nbsp;employees at the Sarnia refinery under an agreement that will expire in May&nbsp;2012. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>24</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SIGNIFICANT POLICIES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor has a Standards of Business Conduct Code (the&nbsp;Code), which applies to Suncor's directors, officers, employees and contractors. The Code requires
strict compliance with legal requirements and sets Suncor's standards for the ethical conduct of our business. Topics addressed in the Code include competition, conflict of interest, the protection
and proper use of corporate assets and opportunities, confidentiality, disclosure of material information, trading in shares and securities, communications to the public, improper payments, fair
dealing in trade relations, and accounting, reporting and business controls. The Code is supported by detailed policy guidance and standards and a Code compliance program, under which every Suncor
director, officer, employee and contract worker is required to annually read a summary of the Code and affirm that he or she has reviewed the summary, affirm that he or she understands the
requirements of the Code, and provide confirmation of his or her compliance with the Code during the preceding year. Compliance is then reported to the Audit Committee. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has a Human Rights Policy, which affirms Suncor's responsibility to respect human rights and ensures that Suncor is not complicit in human rights abuses. Suncor is subject to the laws of the
countries in which it operates and is committed to complying with all such laws while honouring the spirit of international human rights principles, such as those described in the Universal
Declaration of Human Rights and the Voluntary Principles on Security and Human Rights. The policy includes principles committed to a harassment-free and violence-free working environment,
which respects the cultures, customs and values of the communities in which we operate. The policy makes it clear that the scope of Suncor's human rights due diligence includes its own operations and,
where we can influence our third-party business relationships, the operations of&nbsp;others. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has a Stakeholder Relations Policy, which reflects Suncor's values and beliefs. The policy provides that Suncor is committed to developing and maintaining positive, meaningful relationships
with stakeholders in all of its operating areas and provides Suncor's principles for guiding the development of stakeholder relations (respect, responsibility, transparency, timeliness and mutual
benefit). The policy makes it clear that successful stakeholder engagement fosters informed decision-making, resolving issues with timely, cost-effective and mutually beneficial solutions
and supporting shared learning. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has an Aboriginal Affairs Policy, which affirms Suncor's desire to work in collaboration with Canada's Aboriginal People to develop a thriving energy industry that allows Aboriginal communities
to be vibrant, diversified and sustainable. The policy provides a consistent approach to the company's relationships with Canada's Aboriginal People and outlines Suncor's responsibilities and
commitments, and is intended to guide Suncor's business decisions on a day-to-day basis. Suncor is committed to work closely with Canada's Aboriginal People and communities to
build and maintain effective, long-term and mutually beneficial relationships. The policy
makes it clear that responsible development takes into account Aboriginal issues and concerns about the effects, positive and negative, of energy development on communities and their traditional and
current uses of lands and&nbsp;resources. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has an Environment, Health and Safety (EH&amp;S) policy, which affirms Suncor's aspirations to be a sustainable energy company by meeting or exceeding the environmental, social and economic
expectations of our current and future stakeholders. The policy reflect Suncor's beliefs that our EH&amp;S efforts are complementary and interdependent with our economic and social performance. The policy
makes it clear that Suncor management is responsible for ensuring that employees under their direction are competent to manage their EH&amp;S responsibilities and knowledgeable of the hazards and risks
associated with their jobs, and that all Suncor employees and contractors are accountable for compliance with relevant acts, codes, regulations, standards and procedures, and for their own personal
safety and the safety of their co-workers. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>STATEMENT OF RESERVES DATA AND OTHER OIL AND GAS INFORMATION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Date of Statement</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The statement of reserves data and other oil and gas information outlined below is dated March&nbsp;1, 2012, with an effective date of December&nbsp;31, 2011. The
preparation date of the information is as of February&nbsp;16,&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Disclosure of Reserves Data</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As a Canadian issuer, Suncor is subject to the reporting requirements of Canadian securities regulatory authorities, including the reporting of our reserves in accordance with
National Instrument&nbsp;51-101&nbsp;&#150;&nbsp;</FONT><FONT SIZE=2><I>Standards of Disclosure for Oil and Gas Activities</I></FONT><FONT SIZE=2>
(NI&nbsp;51-101). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
reserves data set forth in this section of the AIF for Suncor's Mining (includes Oil Sands Base and Syncrude, unless otherwise noted) and In&nbsp;Situ operations is based upon evaluations
conducted by GLJ Petroleum Consultants&nbsp;Ltd. (GLJ) with an effective date of December&nbsp;31, 2011, contained in their reports (the&nbsp;GLJ Reports). The reserves data set forth below for
all other reserves, which includes Suncor's interests in its conventional natural gas assets primarily located in Western Canada (North America Onshore), conventional assets offshore Newfoundland and
Labrador (East Coast Canada), conventional assets offshore the U.K.&nbsp;(North Sea), and conventional assets in Syria and Libya (collectively, Other International), is based upon evaluations
conducted by Sproule Associates Limited or Sproule International Limited (collectively, Sproule) with an effective date of </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>25</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_dj49101_1_26"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>December&nbsp;31,
2011 contained in their reports (the&nbsp;Sproule Reports). Each of GLJ and Sproule (collectively, the Evaluators) are independent qualified reserves evaluators as defined in
NI&nbsp;51-101. All factual data supplied to the Evaluators was accepted as presented. For general interest purposes, GLJ conducted field tours of Suncor's Millennium mine and the Syncrude Aurora
North mine. No other field inspections were deemed necessary by the&nbsp;Evaluators. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
reserves data summarizes Suncor's SCO, bitumen, light and medium oil, NGL and natural gas reserves and the net present values of future net revenue for these reserves using forecast prices and
costs (unless otherwise indicated) prior to provision for interest, and general and administrative expenses. Net present values of future revenues include the impact of certain abandonment costs. For
more information on abandonment costs, see the Future Net Revenues Tables and Notes&nbsp;&#150;&nbsp;Abandonment and Reclamation Costs section of this&nbsp;AIF. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Future
net revenues are presented on before-tax and after-tax bases. The reserves data conforms to the requirements of NI&nbsp;51-101. See also the Notes to
Reserves Data Tables and the Definitions for Reserves Data Tables discussions presented subsequently in this section of the&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Advisories&nbsp;&#150;&nbsp;Future Net Revenues</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>It should not be assumed that the estimates of future net revenues presented in the tables below represent the fair market value of the reserves. There is no assurance that the
forecast prices and costs assumptions will be attained and variances could be material. There is no guarantee that the estimates for SCO, bitumen, light and medium oil, NGL and natural gas reserves
provided herein will be recovered. Actual SCO, bitumen, light and medium oil, NGL and natural gas reserves may be greater than or less than the estimates provided herein. Readers should review the
definitions and information contained in the Notes to Reserves Data Tables, Definitions for Reserves Data Tables and Notes to Future Net Revenues Tables discussions in conjunction with the following
notes and tables. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Significant Factors or Uncertainties Affecting Reserves Data</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The evaluation of reserves is a continuous process, one that can be significantly impacted by a variety of internal and external influences. Revisions are often required as a
result of newly acquired technical data, technology improvements, or changes in historical performance, pricing, economic conditions, market availability, and regulatory requirements. Additional
technical information regarding geology, reservoir properties, reservoir fluid properties and well performance are obtained through seismic programs, drilling programs, updated reservoir performance
studies and analysis, and production history, and may result in upward or downward revisions to reserves. Pricing, market availability and economic conditions affect the profitability of reserves
exploitation. Depending on the current business environment, higher
commodity prices may result in higher reserves by making more projects economically viable and extending their economic life, while lower commodity prices may result in lower reserves, although this
generally does not result for assets under Production Sharing Contracts. Regulatory changes, including royalty regimes and environmental regulations, cannot be predicted but may have positive or
negative effects on reserves. Future technology improvements would be expected to have a favourable impact on the economics of reserves development and exploitation, and therefore result in an
increase to&nbsp;reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>While
the above factors, and many others, can be considered, certain judgments and assumptions are always required. As new information becomes available, these areas are reviewed and revised
accordingly. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, the company's assets in Syria were impacted by political unrest. As a result of the current situation in Syria, reserves previously reported as proved developed producing and probable
developed producing have been reclassified to the respective non-producing categories. In addition, estimated 2012 production from Syria has not been included as reserves, but has been
reflected as contingent resources, as current sanctions prohibit Suncor from receiving payment for any production that may occur during the force majeure period. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
more information as to the risks involved when estimating reserves and resources, see the Risk Factors&nbsp;&#150;&nbsp;Uncertainty of Reserves and Resources Estimates
section in this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Disclosure of Resources Data</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>GLJ conducted an independent evaluation of Best Estimate contingent resources volumes for all of Suncor's Mining properties and for Suncor's In Situ properties for which they
also evaluated reserves. For Suncor's In&nbsp;Situ properties without attributed reserves, GLJ audited Suncor's internal evaluation of Best Estimate contingent resources volumes. Best Estimate
contingent resources for conventional properties were prepared by Suncor's qualified reserves evaluators in accordance with the Canadian Oil and Gas Evaluation (COGE) Handbook. For more information on
contingent resources, see the discussion in the Additional Information Relating to Reserves Data&nbsp;&#150;&nbsp;Contingent Resources section of this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>26</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dk49101_1_27"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil and Gas Reserves Tables and
Notes</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Summary of Oil and Gas Reserves</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP><BR>
as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>SCO</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Bitumen</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Light &amp; Medium Oil</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>NGLs</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Total</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Developed Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;722.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;722.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>203.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>191.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>250.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>805.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>688.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>151.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>128.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;225.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;913.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>805.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>688.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;473.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;119.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;225.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;913.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>47.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>226.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>154.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>809.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>692.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;641.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;227.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Developed Non-Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>334.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>206.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Non-Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>58.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>376.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>239.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>132.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>82.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Undeveloped</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>430.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>572.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;163.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;002.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>430.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>572.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;203.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;035.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Undeveloped</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>502.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>430.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>661.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>572.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>76.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>66.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>81.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>75.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;252.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;081.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;722.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;722.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>705.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>621.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>611.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;413.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;232.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>924.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>792.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>146.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;727.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;343.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>611.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>924.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>792.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;683.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;160.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>334.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>207.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>206.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;727.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;343.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>708.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>611.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>360.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>257.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;266.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;007.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;027.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;392.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>478.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>478.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;271.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;061.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;965.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;613.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>201.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>201.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>320.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>262.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;824.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;539.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>205.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>320.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>262.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;855.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;342.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>405.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>187.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;824.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;539.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>693.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>552.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>421.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>281.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>728.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>434.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;078.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;454.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;200.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;200.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;976.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;682.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;163.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;379.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;846.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>350.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>350.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;245.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;055.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>233.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>196.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;552.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;882.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;163.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>366.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>273.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;245.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;055.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;538.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;502.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>174.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>174.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>243.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>92.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>740.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>375.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>393.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>169.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;552.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;882.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;402.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;163.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>782.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>538.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;995.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;441.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>36.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>21.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;105.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;846.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>Please see Notes&nbsp;(1) through&nbsp;(3) at the end of the reserves data section for important
information about volumes in this&nbsp;table.</I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>27</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=32,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=2123,FOLIO='27',FILE='DISK124:[12ZAL1.12ZAL49101]DK49101A.;8',USER='JDAY',CD='29-FEB-2012;16:32' -->
<A NAME="page_dk49101_1_28"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Summary of Oil and Gas
Reserves</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP><BR>
as at December&nbsp;31, 2011<BR>
(constant prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>SCO</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Bitumen</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Light &amp; Medium Oil</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>NGLs</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Total</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Developed Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;718.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;718.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>202.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>194.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>250.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>234.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>731.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>640.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>139.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;225.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;912.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>731.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>640.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;460.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;110.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;225.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;912.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>47.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>40.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>227.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>154.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>735.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>643.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;629.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;219.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Developed Non-Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>338.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>199.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Non-Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>58.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>36.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>358.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>214.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>130.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>78.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Undeveloped</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>446.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>584.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;163.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;030.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>446.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>584.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;191.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;052.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Undeveloped</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>502.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>446.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>661.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>584.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>76.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>66.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>14.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;242.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;099.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;718.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;718.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>704.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>640.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>624.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;413.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;264.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>761.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>665.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>144.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>125.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;727.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;358.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>624.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>761.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>665.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;655.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;165.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>338.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>199.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>207.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;727.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;358.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>708.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>624.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>362.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>257.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;107.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>871.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;001.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;397.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>480.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>480.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;271.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;114.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>566.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;965.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;680.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>227.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;824.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;594.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>566.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>201.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>227.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;839.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;396.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>401.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>157.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>185.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;824.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;594.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>693.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>566.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>420.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>274.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>631.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>357.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;061.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;503.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;198.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;198.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;976.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;755.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;190.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;379.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;945.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>350.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>254.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>350.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>254.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>989.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>862.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>189.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>164.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;552.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;953.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;190.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>366.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>268.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>989.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>862.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;494.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;562.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>175.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>175.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>243.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>740.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>356.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>393.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>163.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;552.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;953.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;402.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;190.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>782.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>532.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;739.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;228.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;062.8</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;900.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=27 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>Please see Notes&nbsp;(1) through&nbsp;(3) at the end of the reserves data section for important
information about volumes in this&nbsp;table.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>28</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=33,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=611154,FOLIO='28',FILE='DISK124:[12ZAL1.12ZAL49101]DK49101B.;5',USER='JDAY',CD='29-FEB-2012;16:32' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<!-- TOC_END -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dl49101_1_29"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reconciliation of Gross Oil
Reserves</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP><BR>
as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>SCO</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Bitumen</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Light &amp; Medium Oil</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>December&nbsp;31, 2010</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;084.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>541.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;625.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>821.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>461.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;283.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>397.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;849.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;247.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>148.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>229.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;905.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;003.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;908.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>397.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;886.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;283.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>91.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>155.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>246.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>117.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>175.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>140.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>241.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;905.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;003.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;908.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>397.3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;886.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;283.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>349.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>313.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>663.0</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Extensions&nbsp;&amp; Improved Recovery&nbsp;<SUP>(4)</SUP></I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(87.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>145.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(87.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>146.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>93.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(93.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>87.1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(87.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.7</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>144.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>149.5</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Technical Revisions&nbsp;<SUP>(5)</SUP></I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(36.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(36.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ&nbsp;<SUP>(8)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(191.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>904.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>712.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>233.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1068.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(835.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(17.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(157.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>915.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>757.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>233.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1105.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(872.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(25.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(157.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>915.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>757.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>233.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1105.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(872.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>44.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(41.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Discoveries&nbsp;<SUP>(6)</SUP></I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>24.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38.4</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>Please see Notes&nbsp;(1) through&nbsp;(8) at the end of the reserves data section for important
information about volumes in this&nbsp;table.</I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>29</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=34,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=717203,FOLIO='29',FILE='DISK124:[12ZAL1.12ZAL49101]DL49101A.;10',USER='JDAY',CD='29-FEB-2012;16:32' -->
<A NAME="page_dl49101_1_30"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reconciliation of Gross Oil
Reserves</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP> </FONT><FONT COLOR="#0035CA" SIZE=2><I>(continued)</I></FONT><FONT COLOR="#0035CA" SIZE=2><BR>
as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>SCO</FONT><HR NOSHADE></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Bitumen</FONT><HR NOSHADE></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Light &amp; Medium Oil</FONT><HR NOSHADE></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT></TD>
<TD WIDTH="5%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Acquisitions</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Dispositions</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(15.7</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9.4</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(25.1</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(15.7</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(9.4</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(25.1</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Economic Factors&nbsp;<SUP>(7)</SUP></I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Production</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(95.6</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(95.6</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(24.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(24.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(114.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(114.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(24.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(24.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(16.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(16.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5.1</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5.1</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(114.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(114.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(46.9</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(46.9</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>December&nbsp;31, 2011</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;022.5</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>704.9</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;271.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;976.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.7</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275.3</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>350.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.5</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;727.4</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;824.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;552.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>708.8</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>693.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;402.7</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280.3</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>366.5</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>172.2</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138.4</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.0</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>243.4</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;727.4</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;824.6</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;552.0</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>708.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>693.9</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;402.7</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>360.8</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>421.3</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>782.1</B></FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>Please see Notes&nbsp;(1) through&nbsp;(8) at the end of the reserves data section for important
information about volumes in this&nbsp;table.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>30</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=35,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=932120,FOLIO='30',FILE='DISK124:[12ZAL1.12ZAL49101]DL49101B.;8',USER='JDAY',CD='29-FEB-2012;16:32' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<!-- TOC_END -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dm49101_1_31"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reconciliation of Natural Gas and NGL
Reserves&nbsp;</B></FONT><FONT COLOR="#0035CA" SIZE=2><SUP>(1)(2)(3)</SUP><BR>
as at December&nbsp;31, 2011<BR>
(forecast prices and costs) </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>NGLs</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Proved</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Probable</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Proved</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Probable</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Proved<BR>
Plus<BR>
Probable</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B><I>December&nbsp;31, 2010</I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;113.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>373.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;487.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>251.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>281.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>532.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;375.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>659.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;035.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Extensions&nbsp;&amp; Improved Recovery&nbsp;<SUP>(4)</SUP></I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.1</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Technical Revisions&nbsp;<SUP>(5)</SUP></I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>114.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>125.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>240.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>156.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>122.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>278.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Discoveries&nbsp;<SUP>(6)</SUP></I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.7</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Acquisitions</I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Dispositions</I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(55.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(31.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(87.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(59.6</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(31.9</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(91.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Economic Factors&nbsp;<SUP>(7)</SUP></I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(52.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(32.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(84.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(54.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(33.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(87.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(0.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>Production</I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(127.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(127.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.8</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(29.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(29.2</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(158.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(158.2</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2.4</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><BR><FONT SIZE=1><B><I>December&nbsp;31, 2011</I></B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>924.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>320.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;245.3</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.6</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>334.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>405.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>740.0</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.9</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.5</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.4</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;266.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>728.8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;995.3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.0</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>36.5</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>Please see Notes&nbsp;(1) through&nbsp;(8) at the end of the reserves data section for important
information about volumes in this&nbsp;table.</I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>31</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Notes to Reserves Data Tables<BR>
as at December&nbsp;31, 2011</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
reserves data is based upon evaluations by the Evaluators with an effective date of December&nbsp;31,&nbsp;2011.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>See
the Notes to Future Net Revenues Tables discussion for information on forecast and constant prices and&nbsp;costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Other
International reserves, which include Libya and Syria, include quantities of crude oil and natural gas, which are expected to be produced under PSCs, which involve the company
in upstream risks and rewards, but which do not transfer title of the product to the company. Under these PSCs, net proved and probable reserves have been determined using the economic interest
method. See the Definitions for Reserves Data Tables.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Extensions
and Improved Recovery are additions to the reserves resulting from step-out drilling, infill drilling and implementation of improved recovery schemes.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Technical
Revisions include changes in previous estimates, upward or downward, resulting from new technical data or revised interpretations.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(6)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Discoveries
are additions to reserves in reservoirs where no reserves were previously booked.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(7)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Economic
Factors are changes due to product pricing.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(8)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Technical
revisions for In Situ probable reserves included a large increase in SCO probable reserves and a large decrease in bitumen probable reserves due to the inclusion of an
assumption that the company's upgrading capacity will require significantly more bitumen from In Situ assets when Mining reserves are eventually depleted. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Definitions for Reserves Data Tables</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>In the tables set forth above and elsewhere in this AIF, the following definitions and other notes are&nbsp;applicable: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Gross</B></FONT><FONT SIZE=2> means: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to Suncor's interest in production, reserves and contingent resources, Suncor's working interest (operating and non-operating) share before deduction of
royalties and without including any royalty interests of&nbsp;Suncor;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to wells, the total number of wells in which Suncor has a working interest;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to properties, the total area of properties in which Suncor has an&nbsp;interest. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>Net</B></FONT><FONT SIZE=2> means: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to Suncor's interest in production, reserves and contingent resources, Suncor's working interest (operating and non-operating) share after deduction of royalty
obligations, plus the company's royalty interests in production, reserves or contingent resources;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to wells, the number of wells obtained by aggregating Suncor's working interest in each of the company's gross wells;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>in
relation to Suncor's interest in a property, the total area in which Suncor has an interest multiplied by the working interest owned by&nbsp;Suncor. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reserves Categories</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The oil, NGL and natural gas reserves estimates presented are based on the definitions and guidelines contained in the COGE Handbook. A summary of those definitions is set forth
below. The synthetic crude oil reserves include Suncor's diesel sales volumes. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Reserves
are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on analysis of drilling,
geological, geophysical and engineering data, the use of established technology, and specified economic conditions, which are generally accepted as being reasonable. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Reserves
are classified according to the degree of certainty associated with the&nbsp;estimates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Proved reserves</B></FONT><FONT SIZE=2> are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining
quantities recovered will exceed the estimated proved reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Probable reserves</B></FONT><FONT SIZE=2> are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining
quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
criteria that must also be met for the categorization of reserves are provided in the COGE&nbsp;Handbook. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>32</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_dm49101_1_33"> </A>

<P style="font-family:;"><FONT SIZE=2>Each
of the reserves categories (proved and probable) may be divided into developed and undeveloped categories: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Developed reserves</B></FONT><FONT SIZE=2> are those reserves that are expected to be recovered (i)&nbsp;from existing wells and installed facilities or, if facilities have not
been installed, that would involve a low expenditure (for&nbsp;example, when compared to the cost of drilling a well) to put the reserves on production, or (ii)&nbsp;through installed extraction
equipment and infrastructure that is operational at the time of the reserves estimate, if the extraction is by means not involving a well. The developed category may be subdivided into producing and
non-producing. </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Developed
producing reserves are those reserves that are expected to be recovered from completion intervals open at the time of the estimate. These reserves may be currently producing
or, if shut in, they must have previously been on production, and the date of resumption of production must be known with reasonable certainty.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Developed
non-producing reserves are those reserves that either have not been on production, or have previously been on production but are shut in, and the date of
resumption of production is&nbsp;unknown. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>Undeveloped reserves</B></FONT><FONT SIZE=2> are those reserves expected to be recovered from known accumulations where a significant expenditure (for&nbsp;example, when
compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (proved or probable) to which they
are&nbsp;assigned. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
multi-well pools, it may be appropriate to allocate total pool reserves between the developed and undeveloped categories or to subdivide the developed reserves for the pool between
developed producing and developed non-producing. This allocation should be based on the evaluator's assessment as to the reserves that will be recovered from specific wells, facilities and
completion intervals in the pool and their respective development and production status. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
the </FONT><FONT SIZE=2><B>economic interest method</B></FONT><FONT SIZE=2> used for PSCs, the contractor's (i.e.&nbsp;Suncor's) share of profit revenue plus cost recovery revenue is divided by
the associated oil or gas price forecast to determine the contractor's net volume entitlement, or </FONT><FONT SIZE=2><B>entitlement reserves</B></FONT><FONT SIZE=2>. The entitlement reserves are then
adjusted to include reserves relating to income taxes payable. Under this method, reported reserves will increase as commodity prices decrease (and&nbsp;vice versa), since the production barrels
necessary to achieve cost recovery change with the prevailing commodity prices. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Levels of Certainty for Reported Reserves</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The qualitative certainty levels referred to in the definitions above are applicable to individual reserves entities (which refers to the lowest level at which reserves
calculations are performed) and to reported reserves (which refers to the highest level sum of individual entity estimates for which reserves are presented). Reported reserves should target the
following levels of certainty under a specific set of economic conditions: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>at
least a 90% probability that the quantities actually recovered will equal or exceed the estimated proved reserves;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>at
least a 50% probability that the quantities actually recovered will equal or exceed the sum of the estimated proved plus probable reserves. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>A
qualitative measure of the certainty levels pertaining to estimates prepared for the various reserves categories is desirable to provide a clearer understanding of the associated risks and
uncertainties. However, the majority of reserves estimates are prepared using deterministic methods that do not provide a mathematically derived quantitative measure of probability. In principle,
there should be no difference between estimates prepared using probabilistic or deterministic
methods. Additional clarification of certainty levels associated with reserves estimates and the effect of aggregation is provided in the COGE&nbsp;Handbook. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>33</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dn49101_1_34"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Future Net Revenues Tables and
Notes</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Net Present Value of Future Net Revenues Before Income Taxes<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=9 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
(in&nbsp;$&nbsp;millions, discounted at % per year)</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
Unit&nbsp;Value&nbsp;<SUP>(1)</SUP></FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$/boe</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Developed Producing</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;036</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40&nbsp;083</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;354</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;207</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;843</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;694</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;467</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;546</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;835</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;275</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;959</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;774</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;617</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;487</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;381</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;026</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;136</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;657</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;361</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;158</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.89</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77&nbsp;715</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50&nbsp;460</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;174</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;890</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;657</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.07</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;469</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;636</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;016</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;542</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;167</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;235</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;368</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;862</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;534</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;306</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.12</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Producing</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87&nbsp;419</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58&nbsp;464</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43&nbsp;052</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33&nbsp;966</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28&nbsp;130</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Developed Non-Producing</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;707</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;293</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;033</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>858</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>735</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;797</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;783</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;145</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;718</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;416</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.46</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Non-Producing</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;569</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;122</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;212</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;602</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;170</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.80</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Undeveloped</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;112</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;338</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;649</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;928</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>543</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.64</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;070</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>742</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>542</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>410</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>316</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>167</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>92</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.91</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24&nbsp;349</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;172</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;240</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;360</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>866</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;629</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;860</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;338</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>972</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>706</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>91</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Undeveloped</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;113</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;123</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;640</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;375</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;601</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;036</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40&nbsp;083</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;354</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;207</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;843</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;806</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;805</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;195</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;763</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;819</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;029</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;516</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;159</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;897</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;696</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.67</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;258</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;274</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;740</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;409</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;184</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102&nbsp;129</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61&nbsp;678</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41&nbsp;448</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;276</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;542</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;805</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;789</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;387</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;372</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;608</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53.61</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;167</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;242</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;069</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;295</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;751</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120&nbsp;101</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75&nbsp;709</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52&nbsp;904</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39&nbsp;943</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;901</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Probable</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28&nbsp;852</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;564</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;403</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;563</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;755</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.21</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70&nbsp;038</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;720</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;052</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;055</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;503</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;139</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;910</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;745</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;957</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;867</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.58</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;350</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>666</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>386</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>165</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>115&nbsp;379</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38&nbsp;860</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;586</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;820</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;290</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.51</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;347</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;265</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;639</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;247</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>987</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.67</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;257</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;468</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;126</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;406</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>983</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.19</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Probable</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124&nbsp;983</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44&nbsp;593</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;351</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;473</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;260</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93&nbsp;888</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;647</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;757</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;770</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;598</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.43</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100&nbsp;844</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;525</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;247</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;818</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;322</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;168</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;426</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;904</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;854</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;563</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.41</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;608</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;940</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;126</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;654</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;349</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.80</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>217&nbsp;508</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100&nbsp;538</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;034</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40&nbsp;096</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;832</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;152</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;054</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;026</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;619</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;595</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51.73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;424</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;710</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;195</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;701</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;734</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.59</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245&nbsp;084</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120&nbsp;302</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74&nbsp;255</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52&nbsp;416</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40&nbsp;161</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Unit
values are future net revenues before income taxes, discounted at 10%, using net reserves. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>34</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=39,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=632125,FOLIO='34',FILE='DISK124:[12ZAL1.12ZAL49101]DN49101A.;14',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_dn49101_1_35"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Net Present Value of Future Net Revenues After Income Taxes<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=9 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
(in&nbsp;$&nbsp;millions, discounted at % per year)</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Developed Producing</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;438</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;108</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;375</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;962</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;681</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;845</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;746</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;925</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;295</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;801</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;486</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;377</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;243</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;138</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;052</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;470</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;754</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;369</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;128</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>963</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>60&nbsp;239</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38&nbsp;985</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;912</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;523</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;497</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;086</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;850</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;663</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;515</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;397</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;132</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>842</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>671</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>561</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>483</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Producing</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63&nbsp;457</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41&nbsp;677</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;246</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;599</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;377</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Developed Non-Producing</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>659</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>506</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>411</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>348</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>303</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;360</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;775</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;396</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;135</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Non-Producing</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;067</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;314</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;830</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;499</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;262</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Undeveloped</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;996</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;154</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;851</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>839</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(156</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>790</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>515</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>376</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>279</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>208</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;910</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;732</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;255</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;126</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>731</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>537</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>397</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>293</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Undeveloped</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;978</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;503</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;820</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;542</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>354</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;438</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;108</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;375</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;962</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;681</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;841</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;900</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;776</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;134</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;645</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;276</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;892</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;619</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;417</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;260</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;642</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;850</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;420</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;152</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>971</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78&nbsp;197</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;750</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;190</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;665</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;557</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;755</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;087</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;611</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;260</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;993</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;550</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;657</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;095</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;715</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;443</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85&nbsp;502</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52&nbsp;494</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;896</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26&nbsp;640</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;993</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Probable</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;121</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;194</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;232</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;843</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;246</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;925</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;182</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;837</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;932</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>823</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;081</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;063</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;932</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;676</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;893</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;007</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>493</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>173</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86&nbsp;134</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;932</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;281</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;624</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;075</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;284</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>885</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>504</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>405</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;911</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;566</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>934</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>410</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Probable</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90&nbsp;329</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;383</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;866</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;729</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;890</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71&nbsp;559</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;302</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;607</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;805</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;927</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75&nbsp;766</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;082</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;613</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;066</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;468</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;357</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;955</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;551</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;093</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;153</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="39%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;649</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;343</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;700</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;325</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;084</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>164&nbsp;331</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74&nbsp;682</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43&nbsp;471</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;289</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;632</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;039</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;972</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;262</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;764</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;398</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;461</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;223</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;029</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;316</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;853</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>175&nbsp;831</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82&nbsp;877</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;762</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;369</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25&nbsp;883</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>35</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=40,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=622179,FOLIO='35',FILE='DISK124:[12ZAL1.12ZAL49101]DN49101A.;14',USER='JDAY',CD='29-FEB-2012;16:33' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<!-- TOC_END -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_do49101_1_36"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Total Future Net Revenues<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(in&nbsp;$&nbsp;millions, undiscounted)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Revenue</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Royalties</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Operating<BR>
Costs</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Development<BR>
Costs</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Abandonment<BR>
Expenses</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Future Net<BR>
Revenue Before<BR>
Deducting<BR>
Future<BR>
Income Tax<BR>
Expenses</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Future<BR>
Income Tax<BR>
Expenses</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Future Net<BR>
Revenue After<BR>
Deducting<BR>
Future<BR>
Income Tax<BR>
Expenses</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Developed Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>223&nbsp;537</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33&nbsp;649</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88&nbsp;270</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;582</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;036</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;598</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;438</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;124</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;701</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;809</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;843</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;694</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>849</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;845</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;038</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;305</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>448</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;959</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>473</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;486</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;719</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>897</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;639</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;026</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>556</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;470</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>258&nbsp;389</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;285</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103&nbsp;023</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39&nbsp;887</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>479</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77&nbsp;715</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;476</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>60&nbsp;239</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;550</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>935</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>66</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;469</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;383</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;086</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;868</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>441</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>180</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;235</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;103</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;132</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>269&nbsp;807</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;285</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104&nbsp;399</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40&nbsp;133</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>571</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87&nbsp;419</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;962</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63&nbsp;457</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Developed Non-Producing</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>237</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>107</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>237</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>107</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;342</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>629</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;707</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;048</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>659</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;835</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>749</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;205</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;797</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;437</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;360</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Developed Non-Producing</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;414</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>791</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;941</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;569</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;502</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;067</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Undeveloped</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108&nbsp;481</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;527</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41&nbsp;702</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;597</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>543</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;112</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;116</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;996</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;833</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>624</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>506</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;070</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>790</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>515</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>127</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>167</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;187</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42&nbsp;433</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28&nbsp;271</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>589</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24&nbsp;349</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;439</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;910</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;585</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>960</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>959</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;629</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;619</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>277</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Undeveloped</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>116&nbsp;691</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;211</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43&nbsp;447</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;293</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>627</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;135</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;978</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>223&nbsp;537</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33&nbsp;649</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88&nbsp;270</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;582</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;036</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;598</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;438</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>131&nbsp;605</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;228</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52&nbsp;511</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;440</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>620</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;806</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;965</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;841</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;842</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;662</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;909</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>954</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>288</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;029</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>753</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;276</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;471</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>975</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;873</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>203</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>162</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;258</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>616</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;642</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>370&nbsp;455</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53&nbsp;514</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>145&nbsp;563</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;179</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;070</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102&nbsp;129</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;932</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78&nbsp;197</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;477</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;524</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;025</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>123</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;805</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;050</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;755</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;980</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>773</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;700</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>323</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;167</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;617</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;550</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>394&nbsp;912</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54&nbsp;287</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>149&nbsp;787</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;527</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;210</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120&nbsp;101</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;599</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85&nbsp;502</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80&nbsp;974</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;289</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;877</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;956</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28&nbsp;852</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;731</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;121</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259&nbsp;749</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;872</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90&nbsp;543</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;537</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>759</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70&nbsp;038</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;925</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;175</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;906</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;349</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;632</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>149</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;139</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;058</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;081</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;377</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>498</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;329</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>177</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;350</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>343</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;007</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>373&nbsp;275</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>66&nbsp;565</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>125&nbsp;098</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;302</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>931</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>115&nbsp;379</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29&nbsp;245</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86&nbsp;134</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;047</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>597</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;347</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;063</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;284</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;167</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;313</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>481</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;257</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;346</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;911</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>386&nbsp;489</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;678</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>127&nbsp;008</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65&nbsp;869</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>951</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124&nbsp;983</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;654</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90&nbsp;329</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>304&nbsp;511</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44&nbsp;938</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>118&nbsp;147</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47&nbsp;538</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93&nbsp;888</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22&nbsp;329</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71&nbsp;559</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>391&nbsp;354</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64&nbsp;100</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143&nbsp;054</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81&nbsp;977</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;379</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100&nbsp;844</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25&nbsp;078</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75&nbsp;766</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;017</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;568</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;258</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;586</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>437</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;168</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;811</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;357</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;848</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;473</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;202</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>380</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>185</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;608</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>959</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;649</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>743&nbsp;730</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120&nbsp;079</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>270&nbsp;661</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>133&nbsp;481</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;001</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>217&nbsp;508</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53&nbsp;177</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>164&nbsp;331</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;524</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;121</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;111</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>140</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;152</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;039</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;147</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;886</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;013</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>804</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;424</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;963</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;461</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>781&nbsp;401</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>121&nbsp;965</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>276&nbsp;795</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135&nbsp;396</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;161</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245&nbsp;084</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;253</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>175&nbsp;831</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>36</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=41,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=599095,FOLIO='36',FILE='DISK124:[12ZAL1.12ZAL49101]DO49101A.;30',USER='JDAY',CD='29-FEB-2012;17:06' -->
<A NAME="page_do49101_1_37"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Future Net Revenues by Production Group<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(before income taxes, discounted at 10% per year)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$&nbsp;millions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$/boe&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B><I>Proved Producing</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;354</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;546</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Unconventional&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;900</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp; Medium Oil&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;822</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>56.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Natural Gas&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;330</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Producing</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43&nbsp;052</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;354</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.88</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;195</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Unconventional&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;549</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp; Medium Oil&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;466</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.95</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Natural Gas&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;889</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.32</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52&nbsp;904</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B><I>Proved Plus Probable</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;757</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.43</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Unconventional&nbsp;&#150;&nbsp;In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;247</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Unconventional&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;004</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp; Medium Oil&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;432</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Natural Gas&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;819</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.82</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74&nbsp;255</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Per
unit values use net reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Total
Unconventional includes SCO and bitumen.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Light
&amp; Medium Oil includes associated byproducts, including solution gas and&nbsp;NGLs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Natural
gas includes associated byproducts, including oil and NGLs. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Notes to Future Net Revenues Tables</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Prices Realized  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>For prices realized by Suncor during 2011, please see the Production History section contained within this Statement of Reserves Data and Other Oil and Gas Information. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Forecast Prices and Costs  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Crude oil, natural gas and other important benchmark reference pricing, as well as inflation and exchange rates utilized in the GLJ Reports and the Sproule Reports, are as per
GLJ's price forecast dated January&nbsp;1, 2012, as set out below. To the extent that there are fixed or presently determinable future prices or costs to which Suncor is legally bound by contractual
or other obligations to supply a physical product, including those for an extension period of a contract that is likely to be extended, those prices or costs have been incorporated into the forecast
prices as applied to the pertinent properties. The forecast cost and price assumptions include increases in wellhead selling prices, take into account inflation with respect to future operating and
capital costs, and assume the continuance of current laws and regulations. Price adjustments relating to factors such as product quality and transportation were applied on an individual property basis
in cash flow calculations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Forecast
prices included a US$/Cdn$ exchange rate of 0.98, a Cdn$/&euro; exchange rate of 1.35 and a Cdn$/&pound; exchange rate of 1.60. Forecast costs included a 2% inflation factor,
except for costs for Mining, which included 4% inflation for 2013-2015, 3% inflation for 2016 and 2%&nbsp;thereafter. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>37</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><I>Constant Prices and Costs  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>For purposes of comparison to those issuers who are required to report reserves estimates using constant prices and costs in accordance with the rules and regulations of the
U.S.&nbsp;Securities and Exchange Commission&nbsp;(SEC), Suncor also presents reserves estimates using constant prices and costs. Benchmark prices utilized for the purpose of disclosing
supplementary reserves estimates under constant pricing assumptions are also set out in the table below. Prices are based on the arithmetic average of the
first-day-of-the-month price for the product for each month of&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Constant
prices included a US$/Cdn$ exchange rate of 1.02, a Cdn$/&euro; exchange rate of 1.38 and a Cdn$/&pound; exchange rate of 1.58. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Prices used in Reserves Tables&nbsp;<SUP>(1)</SUP>  </I></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Forecast</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>WTI&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>WCS&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Pentanes&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>AECO&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Light<BR>
Sweet&nbsp;<SUP>(6)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Brent&nbsp;<SUP>(7)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>NBP&nbsp;<SUP>(8)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>B.C. Gas&nbsp;<SUP>(9)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1> Year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2012</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81.61</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>107.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.49</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97.96</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.32</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.29</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2013</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108.09</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.74</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.93</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2014</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.59</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.91</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.39</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2015</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.05</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.85</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2016</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.51</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.31</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2017</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.06</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2018</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83.75</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106.49</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.21</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102.40</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.01</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2019</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103.38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.44</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.47</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103.38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.13</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2020</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.45</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.16</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>110.84</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.46</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106.58</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.45</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.26</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2021</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>107.56</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88.92</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113.08</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.58</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108.73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>107.56</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.98</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.38</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>2022+</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>+2.0%/year</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><BR><FONT SIZE=1>Constant</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><BR><FONT SIZE=1>Cdn$/mmbtu</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>All years</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.19</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.81</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.28</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.71</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.43</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.32</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Each
price from the GLJ forecast was adjusted for quality differentials and transportation costs applicable to the specific product group and country or area of&nbsp;production.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>NYMEX
WTI crude oil at Cushing, Oklahoma. Price used when determining SCO reserves presented as In Situ and Mining reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>WCS
stream at Hardisty, Alberta. Price used when determining bitumen reserves presented as In Situ&nbsp;reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Edmonton
pentanes plus. Price used when determining the cost of diluent associated with bitumen reserves presented as In Situ reserves. A bitumen/diluent ratio of approximately
2:1&nbsp;was&nbsp;used. Price also used when determining certain NGL&nbsp;reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Natural
gas price at AECO. Price used when determining natural gas reserves (primarily in Alberta) presented as North America Onshore reserves. Price also used when determining
natural gas input costs for the production of SCO and bitumen reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(6)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Light
sweet crude oil (40&nbsp;API, 0.3% sulphur) at Edmonton, Alberta. Price used when determining light and medium oil reserves presented as North America Onshore reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(7)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Brent
blend crude oil FOB North Sea. Price used when determining light and medium oil reserves presented as East Coast Canada reserves, North Sea reserves and Other International
reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(8)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>National
Balancing Point (U.K.). Price used when determining natural gas reserves presented as North Sea reserves and Other International reserves.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(9)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Natural
gas prices at B.C. Westcoast Station 2. Price used when determining natural gas reserves (primarily in B.C.) presented as North America Onshore reserves. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><I>Disclosure of After-Tax Net Present Values of Future Net Revenue  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Values presented in the table for Net Present Value of Future Net Revenues After Income Taxes reflect income tax burdens of assets at an individual asset level
(for&nbsp;Mining, In Situ and East Coast Canada) or at a business area or legal entity level (for&nbsp;North Sea and North America Onshore) based on tax pools associated with that business area or
legal entity. Income taxes for Other International assets are determined by their respective PSCs. Suncor's actual corporate legal entity structure for income taxes and income tax planning have not
been considered, and, therefore, the total value for income taxes presented in the table may not provide an estimate of the value at the corporate entity level, which may be significantly different.
The 2011 audited Consolidated Financial Statements and the MD&amp;A should be consulted for information on income taxes at the corporate entity&nbsp;level. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>38</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=43,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=944256,FOLIO='38',FILE='DISK124:[12ZAL1.12ZAL49101]DO49101A.;30',USER='JDAY',CD='29-FEB-2012;17:06' -->
<A NAME="page_do49101_1_39"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Future Development Costs<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>as at December&nbsp;31, 2011<BR>
(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2012</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2013</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2014</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2015</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2016</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Remainder</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Discounted<BR>
At 10%</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Proved</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;173</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;231</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;634</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;332</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;345</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;867</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;582</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;661</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;643</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;337</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;048</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;130</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;521</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;761</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30&nbsp;440</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;426</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>515</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>129</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>954</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>794</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>203</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>157</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;346</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;770</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;832</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;503</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;936</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;792</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;179</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;038</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>406</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>318</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>183</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;025</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>899</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>118</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>132</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>323</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>282</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;870</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;220</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;062</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;591</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;987</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;797</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;527</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;219</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Proved Plus Probable</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;254</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;321</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;697</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;389</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;411</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38&nbsp;466</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47&nbsp;538</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;779</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;600</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;681</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;974</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;099</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;873</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70&nbsp;750</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81&nbsp;977</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;419</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>741</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>648</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>441</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>352</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>743</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;586</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;656</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="24%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>156</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>380</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>310</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;657</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;819</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;406</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;953</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;659</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109&nbsp;987</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>133&nbsp;481</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43&nbsp;164</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>406</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>318</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>213</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;111</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>963</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>118</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>283</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>804</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>632</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Proved Plus Probable</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;181</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;420</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;730</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;161</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;837</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>110&nbsp;067</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135&nbsp;396</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44&nbsp;759</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=19 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2>Development costs include costs associated with both developed and undeveloped reserves. Significant development activities for 2012&nbsp;are expected to
include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Mining, costs for mine train relocations and mine train replacements at&nbsp;Syncrude and new tailings management facilities for Oil Sands
Base. Remaining development costs are sustaining capital investments, which maintain production capacities at existing facilities, and include costs for major maintenance, catalyst, truck and shovel
replacement, and the replacements for utilities, roads and other facilities.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For In Situ, facility and new well costs for the Firebag Stage&nbsp;4 expansion and new wells at MacKay River and Firebag to sustain bitumen
supply for existing central processing facilities.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For East Coast Canada, costs for development drilling at Terra Nova, White Rose and Hibernia, procurement of subsea infrastructure for the HSEU,
H<SUB>2</SUB>S remediation activities, the FPSO swivel replacement and other dockside maintenance activities at Terra Nova, and early development activities for&nbsp;Hebron.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For North Sea, costs for development drilling and facility upgrades at Buzzard, including accommodations, sand management, and produced water
reinjection, and early development activities for Golden&nbsp;Eagle.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For North America Onshore, costs for the development of the Wilson Creek and Ferrier fields in the Cardium oil&nbsp;formation.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Other International, costs for upgrades and maintenance to facilities in Libya. Due to the sanctions and suspension of operations in Syria, no
development costs were included for&nbsp;2012. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Management
currently believes existing cash balances, internally generated cash flows and existing credit facilities are sufficient to fund future development costs. There can be no guarantee that
funds will be available or that Suncor will allocate funding to develop all of the reserves attributed in the GLJ Reports and the Sproule Reports. Failure to develop those reserves would have a
negative impact on future cash flow from operating activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
interest or other costs of external funding are not included in the reserves and future net revenue estimates and would reduce reserves and future net revenue to some degree depending upon the
funding sources utilized. Suncor does not anticipate that interest or other funding costs would make development of any property uneconomic. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>39</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=44,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=203277,FOLIO='39',FILE='DISK124:[12ZAL1.12ZAL49101]DO49101A.;30',USER='JDAY',CD='29-FEB-2012;17:06' -->
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dp49101_1_40"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Abandonment and Reclamation Costs</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company completes an annual review of its abandonment and reclamation costs as they relate to our overall operations. The specific estimates established for forecasted
abandonment and reclamation costs are based on available information, consistent with that assumed in our long range planning. These estimates consider the nature of all our forecasted abandonment and
reclamation costs, where determinable, for our mining, in situ and conventional operations. Where no legal liability or constructive obligation for reclamation exists, potential costs have been
excluded from the company's abandonment and reclamation cost estimates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>At
December&nbsp;31, 2011, Suncor estimated its undiscounted, uninflated abandonment and reclamation costs, net of estimated salvage value, for surface leases, wells, facilities and pipelines
pertaining to its upstream assets to be approximately $7.2&nbsp;billion (discounted at 10%, approximately $2.1&nbsp;billion). Suncor estimates that it will incur $1.284&nbsp;billion
(undiscounted: 2012&nbsp;&#150;&nbsp;$408&nbsp;million, 2013&nbsp;&#150;&nbsp;$463&nbsp;million,
2014&nbsp;&#150;&nbsp;$413&nbsp;million) of its identified abandonment and reclamation costs during the next three&nbsp;years, over 85% of which is associated with mining
operations. This cost estimate does not include the company's estimated abandonment and reclamation costs for its Refining and Marketing assets ($71&nbsp;million, undiscounted and uninflated). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Approximately
$2.2&nbsp;billion (undiscounted) has been deducted as abandonment costs in estimating the future net revenues from proved plus probable reserves. This $2.2&nbsp;billion represents
the abandonment obligation for approximately 6,300&nbsp;net reserves wells, including a forecasted number of future wells for undeveloped reserves, for our in situ and conventional activities. This
figure counts in situ well pairs as one abandonment, whereas previous figures reported by Suncor counted in situ well pairs as two separate abandonments. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Abandonment
and reclamation costs included in Suncor's $7.2&nbsp;billion total that are excluded from the determination of future net revenues from reserves include, but are not limited to, costs
related to the reclamation of disturbed land from oil sands mining activities, the treatment of oil sands tailings, the decommissioning of oil sands and natural gas processing facilities and well
pads, lease sites, and the abandonment of wells to which no reserves have been&nbsp;assigned. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>40</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=45,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=289810,FOLIO='40',FILE='DISK124:[12ZAL1.12ZAL49101]DP49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
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<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Additional Information Relating to Reserves
Data</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Gross Proved and Probable Undeveloped
Reserves</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)</SUP></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
tables below outline the gross proved and probable undeveloped reserves, by product type, attributed to the company over the three most recent years specifically, and in aggregate for those beyond
three&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Both
proved and probable undeveloped reserves are attributed by the Evaluators in accordance with standards and procedures contained in the COGE Handbook. Proved undeveloped reserves are those
reserves that are expected to be recovered from known accumulations with a high degree of certainty and where a significant expenditure is required to render them capable of production. Probable
undeveloped reserves are those reserves in known accumulations that are less certain to be recovered than proved reserves and where a significant expenditure is required to render them capable
of&nbsp;production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Gross Proved Undeveloped Reserves<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Prior</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2009</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2008</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2009</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2011</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>SCO</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>766.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>766.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>121.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total SCO</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>766.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>766.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>121.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>502.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Bitumen</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>427.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>360.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>315.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Bitumen</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>427.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>360.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>315.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>661.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Light&nbsp;&amp; Medium Oil</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>United&nbsp;States&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Light&nbsp;&amp; Medium Oil</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Natural Gas</B></FONT><FONT SIZE=1> (bcf)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>118.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>United&nbsp;States&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>413.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>413.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Natural Gas</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>466.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>452.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>119.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>NGLs</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total NGLs</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT><FONT SIZE=1> (mmboe)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>771.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>771.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>320.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;188.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;084.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>343.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;252.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>41</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=46,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=228482,FOLIO='41',FILE='DISK124:[12ZAL1.12ZAL49101]DP49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_dp49101_1_42"> </A>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Gross Probable Undeveloped Reserves<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2>(forecast prices and costs)</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Prior</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2009</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2008</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2009</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>First<BR>
Attributed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total at<BR>
December&nbsp;31<BR>
2011</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>SCO</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>617.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>617.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>264.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>264.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>215.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>263.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;746.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;746.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>174.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>595.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>400.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>916.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;212.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total SCO</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;363.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;363.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>438.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>859.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>615.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>916.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;475.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Bitumen</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;550.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;835.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>669.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Bitumen</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;550.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;872.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>669.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Light&nbsp;&amp; Medium Oil</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>217.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="18%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>219.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>United&nbsp;States&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Light&nbsp;&amp; Medium Oil</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>185.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>185.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>114.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>161.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>251.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Natural Gas</B></FONT><FONT SIZE=1> (bcf)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>233.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>United&nbsp;States&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>240.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>221.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>347.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total Natural Gas</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>948.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>946.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>377.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>225.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>435.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>NGLs</B></FONT><FONT SIZE=1> (mmbbls)</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;&#150;&nbsp;Canada</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total NGLs</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total</B></FONT><FONT SIZE=1> (mmboe)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;375.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;375.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>801.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;772.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;673.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;159.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;479.9</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
term First Attributed represents undeveloped reserves additions including acquisitions, discoveries and extensions pertaining to the year in which the events first occurred.
Undeveloped reserves first attributed in 2009 primarily include those acquired as a result of the merger with Petro-Canada.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Year-end
reserves may not reflect the summation of First Attributed reserves due to changes in reserves resulting from other factors such as economic factors, improved recovery and
technical revisions, which are not reflected in this&nbsp;table.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
these tables, "North Sea" includes additional properties previously held by Suncor in the Netherlands portion of the North&nbsp;Sea.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Undeveloped
U.S.&nbsp;reserves were acquired in the merger with Petro-Canada in 2009 and subsequently disposed in&nbsp;2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
these tables "Other International" includes additional properties previously held by Suncor in Trinidad and&nbsp;Tobago. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Undeveloped In Situ reserves, which constitute approximately 93% of Suncor's gross proved undeveloped reserves and 76% of Suncor's gross probable undeveloped
reserves, will take more than two years to develop. Management uses integrated plans to forecast future development. These detailed plans align current production, processing and pipeline capacities,
capital spending commitments and future development for the next ten&nbsp;years, and are reviewed and updated annually for internal and external factors affecting planned activity. Reserves are
developed as required to keep processing capacity full. The timing associated with developing undeveloped reserves is a function of the forecasts of the declining production from existing well pairs.
Suncor has delineated In Situ reserves to a high degree of certainty through seismic data and core hole drilling, consistent with COGE guidelines. In most cases, proved reserves have been drilled to a
density of 16&nbsp;wells per section, well in excess of the eight&nbsp;wells per section required for regulatory approval. In order to determine the economic cutoffs of undeveloped reserves,
geological information is tested against existing production analogues that use established technology. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Undeveloped
Mining reserves, which constitute approximately 11% of Suncor's gross probable undeveloped reserves, relate solely to the Syncrude Aurora South mine, which has regulatory approvals
substantially in place and is well-delineated by core hole drilling. The owners of the Syncrude joint venture do not expect that the Aurora South mine will come on-stream in this decade. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Undeveloped
conventional (light and medium oil, natural gas and NGLs) reserves constitute approximately 7% of Suncor's gross proved undeveloped reserves and approximately 13% of Suncor's gross
probable undeveloped reserves. As part of its active portfolio management process, Suncor reviews the economic viability of its conventional properties containing </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>42</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=47,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=727645,FOLIO='42',FILE='DISK124:[12ZAL1.12ZAL49101]DP49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_dp49101_1_43"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>undeveloped
reserves using industry standard economic evaluation techniques and its own pricing and economic environment assumptions. Through this active management process, Suncor selects some
properties for further development activities, while others are held in abeyance, sold, or swapped. In developing the company's reserves, Suncor considers existing facility and gathering system
capacity, capital allocation plans and remaining recoverable resources availability. Accordingly, in some cases, it will take longer than two years to develop all of the currently assigned undeveloped
conventional reserves. With the exception of undeveloped reserves that Suncor may divest, Suncor plans to develop the majority of the conventional proved undeveloped reserves over the next five years
and the majority of the conventional probable undeveloped reserves over the next seven years. Exceptions are development of some offshore properties which are limited by production facility capacity
and development of some international properties constrained by daily contract quantities stipulated by&nbsp;PSCs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Properties with no Attributed Reserves</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following table is a summary of properties to which no reserves are attributed as at December&nbsp;31, 2011. For lands in which Suncor holds interests in different
formations under the same surface area pursuant to separate leases, the area has been counted for each&nbsp;lease. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Country</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross<BR>
Hectares</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net<BR>
Hectares</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;093&nbsp;830</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;740&nbsp;853</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Libya</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;950&nbsp;978</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;339&nbsp;489</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>U.S.&nbsp;&#150;&nbsp;Alaska</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;161&nbsp;123</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>387&nbsp;002</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Norway</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>501&nbsp;791</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>209&nbsp;691</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Syria</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>345&nbsp;194</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>345&nbsp;194</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>U.K.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>138&nbsp;437</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44&nbsp;574</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Australia (overriding royalty interest only)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113&nbsp;027</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;304&nbsp;380</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;066&nbsp;803</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>Suncor holds interests in a diverse portfolio of undeveloped petroleum assets in Canada and in several international areas. These assets range from exploration
properties in a very preliminary phase of evaluation, to discovery areas where tenure to the property is held indefinitely on the basis of hydrocarbon test results, but where economic development is
not currently possible or has not yet been sanctioned. In many cases where reserves are not attributed to lands containing one or more discovery wells, the key limiting factor is the lack of available
production infrastructure. Each year, as part of the company's active management process to review the economic viability of its conventional properties, some properties are selected for further
development activities, while others are held in abeyance, sold, swapped or relinquished back to the mineral rights&nbsp;owner. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2012, Suncor's rights to explore, develop and exploit will expire for 189,374&nbsp;net hectares in Canada, 131,308&nbsp;net hectares in Alaska and 39,840&nbsp;net hectares in the
U.K.&nbsp;portion of the North Sea. No land tenure expiries are scheduled to occur for either Mining or In&nbsp;Situ properties for 2012. Substantial portions of expiring lands may have their
tenure continued beyond 2012 through the conduct of work programs and/or the payment of prescribed fees to the rights&nbsp;owner. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil and Gas Properties and Wells</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>For a description of the company's important properties, plants, facilities and installations, see the Narrative Description of Suncor's Businesses section in this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
Oil Sands operations recover bitumen through oil sands mining and in situ development in northern Alberta. Conventional activities are focused on the development and production of oil,
natural gas, and NGLs from onshore reserves in Western Canada, Libya and Syria, and from reserves offshore Newfoundland and in the North&nbsp;Sea. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following table is a summary of operated and non-operated oil and gas wells associated with the company's reserves as at December&nbsp;31,&nbsp;2011: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Oil Wells</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Natural Gas Wells</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Producing</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Non-Producing</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Producing</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Non-Producing</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>253.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>236.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>134.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>130.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;268.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;916.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>206.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>British Columbia</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>200.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Saskatchewan</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>738.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>268.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>91.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Newfoundland</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>213.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#150;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>568.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>376.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>223.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>178.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;241.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;385.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>390.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>288.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=18 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>43</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=48,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=978334,FOLIO='43',FILE='DISK124:[12ZAL1.12ZAL49101]DP49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_dp49101_1_44"> </A>

<P style="font-family:;"><FONT SIZE=2>There are no production wells associated with Mining properties. Suncor has no proved developed non-producing reserves or probable developed
non-producing reserves in its Mining reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
In&nbsp;Situ properties, proved non-producing reserves and probable non-producing reserves are associated with wells that have been drilled within the last two years,
which require further capital for completion and tie in to facilities to bring the wells on-stream. This capital requirement is significant enough that the reserves are not classified as
developed. SAGD well pairs are counted as one&nbsp;well. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
Syria, wells previously reported as producing have been reclassified to non-producing, consistent with the reclassification of proved developed producing reserves and probable developed producing
reserves to their respective non-producing categories. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
majority of remaining conventional non-producing reserves have been in their current non-producing state for less than four years and are forecast to be brought
on-stream within the next two years. These remaining non-producing reserves are primarily associated&nbsp;with: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Recently drilled wells to be brought on production in 2012;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Secondary zones forecast to be brought on-stream over the next two years;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Wells requiring workovers;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Wells temporarily shut in due to operational issues at facilities; and



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Gas production being re-injected to maintain gas cap pressure on oil producing zones until depletion of the oil&nbsp;zones. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Costs Incurred</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The table below summarizes the company's capital expenditures related to its reserves activities for the year ended December&nbsp;31,&nbsp;2011. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="36%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration<BR>
Costs</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Proved<BR>
Property<BR>
Acquisition<BR>
Costs</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Unproved<BR>
Property<BR>
Acquisition<BR>
Costs</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Development<BR>
Costs</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="36%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;Mining and In Situ</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>200</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;362</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;619</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="36%" style="font-family:;"><FONT SIZE=1>Canada&nbsp;&#150;&nbsp;East Coast Canada and North America Onshore</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>476</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>554</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="36%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>200</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="36%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="36%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>267</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;949</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;446</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>44</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=49,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=61775,FOLIO='44',FILE='DISK124:[12ZAL1.12ZAL49101]DP49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dq49101_1_45"> </A> </FONT> <FONT SIZE=6><B>


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exploration and Development Activities</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The table below outlines the gross and net exploratory and development wells the company completed during the year ended December&nbsp;31,&nbsp;2011. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total number of wells completed</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploratory
Wells&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Development
Wells&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Canada</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Oil</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>73.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Dry Hole</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Stratigraphic Test</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>617.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>311.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>805.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>434.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>North Sea</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Oil</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Dry Hole</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Stratigraphic Test</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Other International</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Oil</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Dry Hole</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1>Stratigraphic Test</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="43%" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2>Significant exploration and development wells completed in 2011 included: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Mining, core hole drilling programs and other survey work at Oil Sands Base and Syncrude to provide additional information on areas the
company expects to mine in the near&nbsp;term.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For In Situ, infill wells at Firebag Stage&nbsp;1 and Stage&nbsp;2 well pads, new wells at MacKay River and Firebag to help sustain bitumen
supply for existing central processing facilities, and core hole drilling at Firebag, MacKay River and Meadow Creek to further delineate reserves and resources.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For East Coast Canada, the Ballicatters exploration well, a production well at Terra Nova, and development drilling for Hibernia, the HSEU and the
White Rose Extensions.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For International, exploration drilling on the Butch prospect in the Norway portion of the North Sea, development drilling at Buzzard, oil
development wells in Libya, and one oil development well in Syria (prior to sanctions related to oil investment and, later, the suspension of&nbsp;operations).


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For North America Onshore, development drilling of the Wilson Creek and Ferrier fields in the Cardium oil formation, the Medicine Hat shallow gas
region, and the Kobes area of the Montney&nbsp;shale gas formation. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>45</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=50,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=902015,FOLIO='45',FILE='DISK124:[12ZAL1.12ZAL49101]DQ49101A.;31',USER='MVANGB',CD='29-FEB-2012;18:37' -->
<A NAME="page_dq49101_1_46"> </A>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Production History</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The table below outlines the company's historical production information, by product type, for each of the four financial quarters, as an average daily measure, for Canada,
North Sea and Other International. Average price realized is net of transportation costs, but before royalties. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>2011</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Three months ended</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Mar 31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jun 30</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sept 30</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec 31</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Canada</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Oil Sands&nbsp;<SUP>(1)</SUP></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>360.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>277.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>362.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>356.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average In Situ bitumen production (mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>83.74</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98.01</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.33</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5.49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Total cash operating costs ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(36.42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49.73</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(37.06</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(40.42</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>In Situ cash operating costs ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(22.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(24.15</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(27.05</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(29.15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Light&nbsp;&amp; Medium Oil</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63.4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.01</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>112.19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.30</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(32.04</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(34.99</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(33.56</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(36.95</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Production costs ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.14</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(7.26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.69</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9.36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><B><I>Netback ($/bbl)</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63.83</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>71.05</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.46</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Natural Gas&nbsp;<SUP>(2)</SUP></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mmcfe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>411</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>402</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>375</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>365</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/mcfe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.52</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.90</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.56</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.31</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/mcfe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.44</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.48</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.48</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Production costs ($/mcfe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.71</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1.66</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><B><I>Netback ($/mcfe)</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.59</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.01</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.37</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1><B>North Sea</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Light&nbsp;&amp; Medium Oil&nbsp;<SUP>(3)</SUP></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>93.74</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113.24</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111.60</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106.41</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.00</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Production costs ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.86</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.66</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3.64</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><B><I>Netback ($/boe)</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.88</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106.58</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105.26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102.77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1><B>Other International</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Light&nbsp;&amp; Medium Oil</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>99.07</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109.58</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(80.75</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(61.85</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Production costs ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><B><I>Netback ($/boe)</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.47</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.61</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Natural Gas&nbsp;<SUP>(4)</SUP></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average total production (mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.0</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Average price realized ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>84.58</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95.28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95.49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>91.69</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Royalties ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(32.04</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(38.54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(43.28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(35.11</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Production costs ($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(7.66</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6.06</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8.20</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><B><I>Netback ($/boe)</I></B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49.08</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.15</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.38</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Suncor
tracks cash operating cost for its Oil Sands operations, which includes more expenses than strictly production costs. For this reason, a netback calculation is not presented in
this table. Also, most of Suncor's bitumen production is upgraded; therefore, a bitumen netback is not presented. Amounts presented include results from the company's share in the Syncrude joint
venture.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Volumes
include NGLs and crude oil from natural gas wells.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Volumes
include field production for natural gas and NGLs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Volumes
include approximate annual oil production of 1.5&nbsp;mboe/d from Syria. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>46</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=51,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=480762,FOLIO='46',FILE='DISK124:[12ZAL1.12ZAL49101]DQ49101A.;31',USER='MVANGB',CD='29-FEB-2012;18:37' -->
<A NAME="page_dq49101_1_47"> </A>

<P style="font-family:;"><FONT SIZE=2>The following table provides the production volumes for each of Suncor's important fields for the year ended December&nbsp;31,&nbsp;2011. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="77%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>SCO and<BR>
Bitumen</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp;<BR>
Medium&nbsp;Oil</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>NGLs</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmcfe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Mining&nbsp;&#150;&nbsp;Suncor&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>228.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>228.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Mining&nbsp;&#150;&nbsp;Syncrude&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Firebag&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>MacKay River&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Buzzard</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Hibernia</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>White Rose</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Terra Nova</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>All
production attributed to Mining represents SCO.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Estimates
of production representing a mixture of upgraded SCO and non-upgraded bitumen. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Production Estimates</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The table below outlines the volume of the company's production of gross proved and gross proved plus probable reserves estimated for the year ending December&nbsp;31, 2012,
as is reflected in the estimates of gross proved reserves and gross probable reserves previously disclosed in the Summary of Oil and Gas Reserves tables. Production estimates for 2012 for proved plus
probable reserves from: Suncor's mining operations (excluding Syncrude) are 232&nbsp;mbbls/d of SCO, approximately 47% of total estimated production for 2012; and from Firebag are 72&nbsp;mbbls/d
of SCO and bitumen, approximately 15% of total estimated production for&nbsp;2012. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="94%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SCO</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Bitumen</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp; Medium Oil</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>NGLs</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Gross</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmcfe/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mmcfe/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1><B>Canada</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>325.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>296.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>287.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>243.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.7</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(0.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved Plus Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>349.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>318.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>295.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>251.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><BR><FONT SIZE=1><B>North Sea</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved Plus Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><BR><FONT SIZE=1><B>Other International</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>Proved Plus Probable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Work Commitments</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The practice of governments requiring companies to pledge to carry out work commitments in exchange for the right to carry out exploration for and development of hydrocarbons is
common, particularly in unexplored or lightly explored regions of the world. The following table shows the estimated values of work commitments Suncor has made in regard to the lands it holds as at
December&nbsp;31, 2011. These commitments run through 2013 and are primarily for conducting seismic programs and drilling exploration wells. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Country/Area<BR>
($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2012</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="74%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>North Sea</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>158</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>216</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>128</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>369</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>47</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=52,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=626245,FOLIO='47',FILE='DISK124:[12ZAL1.12ZAL49101]DQ49101A.;31',USER='MVANGB',CD='29-FEB-2012;18:37' -->
<A NAME="page_dq49101_1_48"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Forward Contracts and Transportation Obligations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor may use financial derivatives to manage its exposure to fluctuations in commodity prices; however, Suncor did not have any such material financial derivative transactions
in 2011. A description of Suncor's use of such instruments is provided in the 2011 audited Consolidated Financial Statements and related MD&amp;A for the year ended December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
a result of the merger, Suncor holds a commitment of 85,000&nbsp;mcf/d of contract capacity on the Alliance Pipeline that expires in November&nbsp;2015, which enables Suncor to transport
high-energy, rich natural gas from northeastern B.C. and northwestern Alberta to the Alliance Pipeline terminus in Illinois. Subsequent to Suncor's 2010 divestitures, this commitment
exceeds Suncor's production from the area. Suncor estimates its minimum commitment on the Alliance Pipeline to be approximately US$50&nbsp;million per year. Natural gas for the Alliance Pipeline
commitment is expected to be supplemented by supply purchased from third parties. Deliveries to Illinois are expected to continue for the term of the contract provided the sales price in Illinois
exceeds, at a minimum, the variable cost of the transportation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Tax Horizon</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In 2011, Suncor was subject to cash tax in the local jurisdictions related to earnings from its North Sea and Other International production, but was not cash taxable in Canada
on the majority of its Canadian earnings. Suncor's 2011 audited Consolidated Financial Statements were prepared using the 2014 effective Canadian tax rate to record income taxes, as this rate would
apply to the reversal of long-term temporary differences. Based on projected future net earnings, Suncor may be cash taxable in Canada by&nbsp;2013. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Contingent Resources</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>GLJ conducted an independent assessment of Best Estimate contingent resources volumes for all of Suncor's Mining properties and for Suncor's In Situ properties to which reserves
are attributed (Firebag and MacKay River). For In Situ properties without attributed reserves, GLJ audited assessments of Best Estimate contingent resources volumes (approximately 41% of In Situ
contingent resources) prepared by Suncor's internal qualified reserves evaluators. Best Estimate contingent resources for other properties were prepared by Suncor's internal qualified reserves
evaluators. All contingent resources estimates were conducted in accordance with the COGE&nbsp;Handbook. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Contingent
resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under
development, but which are not currently considered to be recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political and
regulatory matters or lack of infrastructure or markets. Best Estimate is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely that the actual
remaining quantities recovered will be greater or less than the best estimate. The best estimate of potentially recoverable volumes is generally prepared independent of the risks associated with
achieving commercial production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>There
is no certainty that all or any portion of the contingent resources will be commercially viable to produce. Estimates of contingent resources have not been adjusted for risk based on the chance
of development. There is no certainty as to the timing of such development. For movement of contingent resources to reserves categories, all projects must have an economic depletion plan and may
require, among other things, additional delineation drilling, regulatory applications, or sanction from the company's Board and any joint venture owners to proceed with development. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>In
general, significant factors that may change contingent resources estimates include further delineation drilling, which could change the estimates either positively or negatively, future technology
improvements, which would positively affect the estimates, and additional processing capacity that could affect the volumes recoverable or type of production. Additional facility design work,
development plans, reservoir studies and delineation drilling are often completed in the course of preparing the company's application for regulatory approvals. Once there is a high level of certainty
of receiving all regulatory and corporate approvals, and all other contingencies are removed, the resources may then be reclassified as&nbsp;reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>48</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=53,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=148438,FOLIO='48',FILE='DISK124:[12ZAL1.12ZAL49101]DQ49101A.;31',USER='MVANGB',CD='29-FEB-2012;18:37' -->
<A NAME="page_dq49101_1_49"> </A>

<P style="font-family:;"><FONT SIZE=2>Effective
December&nbsp;31, 2011, Suncor's Best Estimate of gross contingent resources is set out in the table below. Volumes represent Suncor's working interest in properties with contingent
resources. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="77%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Best Estimate Gross Contingent Resources</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>SCO</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Bitumen</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Light&nbsp;&amp;<BR>
Medium Oil</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>NGLs</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>bcf</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmbbls</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>mmboe</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Mining</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;582</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;156</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;738</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>In Situ</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;432</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;020</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;452</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>247</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;203</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>614</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>116</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;017</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;465</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;014</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;176</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>363</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;220</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;269</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North America Onshore&nbsp;&#150;&nbsp;U.S.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>133</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>North Sea&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>481</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>245</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>522</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>As at December&nbsp;31, 2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;014</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;176</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>889</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;634</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;865</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>As at December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;462</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;291</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>956</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;370</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;454</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Contingent
resources include offshore fields in the Arctic Islands.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Contingent
resources are offshore Norway. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Contingent resources increased to 21,865&nbsp;mmboe at December&nbsp;31, 2011 from 20,454&nbsp;mmboe at December&nbsp;31, 2010. Increases to contingent
resources included extensions of the MacKay River and Meadow Creek leases, acquisition of additional leases in the Audet area, technical revisions for In Situ assets, recognition of potential Hibernia
secondary zones, and volumes attributed to discoveries in the Ballicatters, Butch and Wilson Creek areas. The net effects of Suncor's
transactions with Total E&amp;P, which included the acquisition of an interest in Joslyn, the partial disposition of our interest in Fort Hills and a change in assumption that reclassified remaining Fort
Hills reserves from SCO to bitumen, also increased total contingent resources. These increases were partially offset by the transfer of resources to proved plus probable reserves for Golden Eagle and
Hebron, and asset dispositions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has assumed that some Mining and some In Situ contingent resources will be upgraded and sold as SCO. To the extent that these volumes are not upgraded, but rather sold as bitumen, contingent
resources volumes reported would be lower for SCO and higher for bitumen, and total contingent resources volumes would be higher because of the yield factor applied to bitumen volumes when upgraded
into SCO. Conversely, to the extent that more volumes are upgraded, total contingent resources volumes would be&nbsp;lower. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Generally,
the timing for the economic assessments of contingent resources will be determined by Suncor's long-term resource development plan and its forecast for economic conditions.
Management uses integrated plans to forecast future development of resources. These plans align current and planned production, current and forecasted market conditions, processing and pipeline
capacities, capital spending commitments and related future development plans. These plans are reviewed and updated annually for internal and external factors affecting these planned activities. In
particular, as Suncor's Oil Sands reserves base depletes, the company anticipates that it will look to develop its other Mining and In Situ properties, at which time the assessment of the economic
viability of specific properties with contingent resources will be&nbsp;made. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Details
of Suncor's contingent resources and a categorization of the contingencies ascribed to these resources are provided&nbsp;below. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Mining Contingent Resources  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Mining contingent resources comprise approximately 31% of Suncor's total contingent resources, with 59% of these contingent resources on properties in which Suncor has a 100%
working interest and the remainder forming part of joint arrangements where Suncor has working interests varying from 12% to&nbsp;40.8%. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Economic Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>GLJ has tested the economic viability of the Fort Hills and Joslyn North projects, which constitute approximately 25% of total Mining contingent resources, and determined them
to be economic. The economic status of remaining Mining contingent resources is currently undetermined; however, the company anticipates that the contingent resources will be economic to develop under
current market conditions, as the potential development of these contingent resources would reflect the application of established technology and reasonable assumptions for mine pit&nbsp;design. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Non-Technical Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Given the concern within the industry with respect to the potential cost escalation of large mining projects, the reclassification of Mining contingent resources to reserves is
largely contingent upon an assessment that development will be sanctioned and </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>49</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>commence
within a reasonable time frame. The Fort Hills and Joslyn North mining projects have substantially all regulatory approvals in place, but final investment decisions based on development plans
currently being finalized await decision by the joint venture owners, and, as a result, it is Suncor's view that the development of these contingent resources in the near term is not sufficiently
assured to support reclassification to reserves. For Suncor's remaining Mining contingent resources, regulatory permits must be obtained before a project sanction decision by Suncor's Board and joint
venture owners, as applicable, is&nbsp;considered. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>In Situ Contingent Resources  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In Situ contingent resources comprise approximately 57% of Suncor's total contingent resources, with 59% of these contingent resources on properties in which Suncor has a 100%
working interest and the remainder forming part of joint arrangements where Suncor has working interests varying from 10% to 75%. These contingent resources are all in the Athabasca oil sands area and
over 80% of the contingent resources are in, or immediately adjacent to, existing MacKay River or Firebag operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
primary risk associated with developing In Situ contingent resources relates to actual production performance versus performance estimated based on the geological data used in the production
forecast. The geological data varies substantially as a result of the density of core holes used in the analysis. The density can be as low as one well per section, and as high as 16&nbsp;wells
per&nbsp;section. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Economic Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The economic status of In Situ contingent resources is currently undetermined; however, the company anticipates that the contingent resources will be economic to develop under
current market conditions. Technical net pay cutoffs are consistent with, and based upon, the same fiscal conditions as those used in the determination of proved plus probable reserves for Firebag and
MacKay River, or are analogous to existing in situ operations successfully developed by other entities in the oil sands industry. Suncor anticipates that its In Situ contingent resources will be
recoverable using established SAGD&nbsp;processes. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Contingent
resources have been assigned to certain sections associated with Firebag and MacKay River development areas. These volumes have not been classified as proved plus probable reserves in part
because drilling density is inadequate for reliable mapping of effective pay intervals. However, the company has two-dimensional seismic control, minimum mapped effective pay thicknesses
of 15&nbsp;metres for Firebag and 14&nbsp;metres for MacKay River, and drilling density greater than or equal to one vertical well per section (except when that section is bound by sections with
greater than or equal to one well per section). The company expects that an assessment of the economic viability of
these resources will be undertaken when drilling density has increased such that it is adequate for reliable mapping of effective pay intervals and as the company's long-term plans require
additional bitumen to keep existing processing capacities associated with these assets&nbsp;full. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Contingent
resources for other In Situ properties (Chard, Kirby, Lewis, Meadow Creek and MacKay River outside of the development areas noted above) were assigned to sections with core holes, or lands
within two legal subdivisions of a delineation well and having net continuous bitumen pay greater than 15&nbsp;metres. These contingent resources require the completion of further reservoir studies
and delineation drilling, as well as the preparation of development plans and facility designs prior to reserves being assigned. The company expects that an assessment of the economic viability of
these contingent resources will be undertaken as the company's long-term plans require additional&nbsp;bitumen. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Non-Technical Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The reclassification of In Situ contingent resources to reserves is also largely contingent upon an assessment that development will be sanctioned and commence within a
reasonable time frame. The contingent resources associated with development areas for Firebag and MacKay River have regulatory approvals in place, but a final investment decision is subject to an
assessment of economic viability and approval by Suncor's Board. For remaining In Situ contingent resources, the company must still obtain regulatory approvals and project sanction by Suncor's Board
and joint venture owners, as&nbsp;applicable. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Contingent Resources  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other contingent resources are mainly conventional sources of oil and gas associated with Suncor's Exploration and Production segment. These other contingent resources comprise
approximately 12% of Suncor's total contingent resources and are anticipated to be recoverable using established technologies. These other contingent resources primarily include: </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For North America Onshore, discovered resources in the Arctic Islands, Mackenzie Delta, Mackenzie Corridor, Beaufort Sea, and in the Alaska
Foothills, and a tight oil play in the Gilby/Wilson area of&nbsp;Alberta.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For East Coast Canada, extensions of existing producing oilfields and Hebron, natural gas resources associated with existing producing oilfields,
and other hydrocarbon accumulations that are not currently producing, including those offshore Newfoundland and Labrador.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For North Sea, discoveries offshore Norway.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Other International, in both Libya and Syria, undeveloped portions within existing producing fields and other discovered hydrocarbon
accumulations that are not currently producing, and, for Syria, 2012 production estimates. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>50</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
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 </B></FONT><FONT SIZE=2><I>Economic Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Except as noted below, the economic status of other contingent resources is undetermined. In general, further reservoir studies and delineation drilling, and preparation of
development plans and facility designs are required to make a determination as to whether these contingent resources would be economic or not under current conditions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
North America Onshore, contingent resources associated with the Gilby/Wilson tight oil play have been determined to be economic. The economic status of contingent resources associated with certain
fields in the Arctic Islands is undetermined, but anticipated to be economic provided the natural gas resources are able to be delivered to markets outside of North America. Remaining North America
Onshore contingent resources are primarily in geographically remote areas and are sub-economic due to lack of processing and transportation infrastructure in these areas. These areas
require commitments to identify the existence of sufficient resources for economic development, following which construction of processing facilities and/or transportation infrastructure would be
required, which is not anticipated to occur within the next five&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
East Coast Canada, contingent resources for Hebron and some for Terra Nova have been determined to be economic. The company anticipates that it will assess the economic viability of contingent
resources for Hibernia and White Rose within the next five years and that these contingent resources will be economic to develop under current market conditions. Timing for completion of economic
evaluation of remaining contingent resources is not anticipated to occur within the next five&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
the North Sea, contingent resources are in the appraisal stage. The economic status of these contingent resources is undetermined, but the company anticipates that it will assess their economic
viability within the next five years and that these contingent resources will be economic to develop under current market conditions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Other International, contingent resources in Syria are currently sub-economic, but would be economic in the absence of force majeure under the company's contractual obligations. In Libya,
contingent resources associated with producing fields are economic, while the economic viability of resources associated with non-producing fields is undetermined, but the company
anticipates that it will complete economic assessments for these fields in the next five&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Non-Technical Contingencies  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The reclassification of contingent resources associated with the Exploration and Production segment to proved plus probable reserves is primarily contingent upon the receipt of
appropriate regulatory approvals, and an assessment that development will be sanctioned by Suncor's Board and joint venture partners, as applicable, and commence within a reasonable time frame.
Contingent resources for some North America Onshore properties in geographically remote areas are also contingent upon the development of a suitable regulatory framework. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
estimated production for Syria for 2012 has been classified as contingent resources, contingent upon Suncor being able to record production and receive payment. In order for this to occur,
sanctions that are applicable to Suncor and that were initiated as a result of political unrest in Syria must be lifted so that the company can conduct business with its joint venture partner in
Syria. For remaining contingent resources associated with Suncor's Syrian assets, a daily contract quantity for production, which limits the rate at which gas can be produced, is the primary
contingency. This production constraint prevents a portion of the resources from being produced within the contract period. This contingency could be removed through contract extension or a higher
daily contract quantity at a sufficient sales&nbsp;price. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>INDUSTRY CONDITIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The oil and natural gas industry is subject to extensive controls and regulations governing its operations (including land tenure, exploration, environmental,
development, production, refining, transportation, and marketing) imposed by legislation enacted by various levels of government and with respect to export and taxation of oil and natural gas by
agreements among the governments of Canada and Alberta, among others, as well as the governments of the United&nbsp;States and other foreign jurisdictions in which we operate, all of which should be
carefully considered by investors in the oil and gas industry. It is not expected that any of these controls or regulations will affect the company's operations in a manner materially different than
they would affect other oil and gas companies of similar size and with similar assets. All current legislation is a matter of public record, and the company is unable to predict what additional
legislation or amendments may be enacted. The following discussion outlines some of the principal aspects of legislation, regulations and agreements governing Suncor's operations. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Pricing, Marketing and Exporting Crude Oil and Natural Gas</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The producers of oil are entitled to negotiate sales and purchase agreements directly with oil purchasers. Most agreements are linked to global oil prices. Global oil prices are
set by daily, weekly and monthly physical and financial transactions for crude oil around the world. Those prices are primarily based on worldwide fundamentals of supply and demand. Specific prices
depend in part on oil quality, prices of competing fuels, distance to the markets, the value of refined products, the supply/demand balance, and other contractual terms. In Canada, oil exporters are
also entitled to enter into export contracts. If the term of an export contract exceeds one year for light crude oil or exceeds two years for heavy crude oil (to&nbsp;a maximum of 25&nbsp;years),
the </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>51</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>exporter
is required to obtain an export licence from the National Energy Board (NEB), and the issuance of such licence requires a public hearing and the approval of the Governor in Council. If the
term of an export contract does not exceed one year for light crude oil or does not exceed two years for heavy crude oil, the exporter is required to obtain an order approving such export from
the&nbsp;NEB. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
price of natural gas is also determined by negotiation between buyers and sellers. Natural gas exported from Canada is subject to regulation by the NEB and the Government of Canada. Exporters are
free to negotiate prices and other terms with purchasers, provided that the export contracts continue to meet certain other criteria prescribed by the NEB and the Government of Canada. Natural gas
(other than propane, butane and ethane) export contracts with a term that exceeds two years (to&nbsp;a maximum of 25&nbsp;years) require the exporter to obtain an export licence from the NEB, and
the issuance of such licence requires a public hearing and the approval of the Governor in Council. Natural gas (other than propane, butane and ethane) export contracts for volumes of more than
30,000&nbsp;m&nbsp;<SUP>3</SUP>/d with a term that does not exceed two years, or export contracts for volumes of 30,000&nbsp;m&nbsp;<SUP>3</SUP>/d or less for a term of two
to 20&nbsp;years, must be made pursuant to an NEB order. The Government of Alberta also regulates the volume of natural gas that may be removed from the province for consumption elsewhere based on
such factors as reserves availability, transportation arrangements, and market considerations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Internationally,
prices for crude oil and natural gas fluctuate in response to changes in the supply of and demand for crude oil and natural gas, market uncertainty and a variety of other factors
beyond Suncor's control. These factors include, but are not limited to, the actions of OPEC, world economic conditions, government regulation, political developments, the foreign supply of oil, the
price of foreign imports, the availability of alternate fuel sources and weather conditions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Pipeline Capacity</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Although pipeline expansions are ongoing, the apportionment of capacity on pipeline systems can occur from time-to-time due to pipeline and downstream
operating problems that can affect the ability to market western Canadian crude oil and natural&nbsp;gas. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Recently,
pipeline capacity to support the growth of the oil sands industry in Canada has been the subject of political and environmental debate. Suncor supports the responsible development of
pipeline infrastructure that would open access to other&nbsp;markets. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Royalties, Incentives and Income Taxes</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Canada  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In addition to federal regulation, each province has legislation and regulations governing land tenure, royalties, production rates, environmental protection, and other matters.
The royalty regime is a significant factor in the profitability of SCO, bitumen, crude oil, NGL and natural gas production. Royalties payable on production from lands other than Crown lands are
determined by negotiations between the mineral freehold owner and the lessee, although production from such lands may be subject to certain provincial taxes. Crown royalties are determined by
governmental regulation and are generally calculated as a percentage of revenues received from the value of the gross production. The rate of royalties payable generally depends in part on prescribed
reference prices, well productivity, geographical location, field discovery date, method of recovery, depth of well, and the type or quality of the petroleum product produced. Other royalties and
royalty-like interests are, from time-to-time, carved out of the owner's working interest through non-public transactions. These are often referred to
as overriding royalties, gross overriding royalties, net profits interests or net carried interests. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Occasionally,
the governments of the western Canadian provinces create incentive programs for exploration and development. Such programs provide for royalty rate reductions, royalty holidays and tax
credits, and are generally introduced when commodity prices are low. The programs are designed to encourage exploration and development activity by improving earnings and cash flow within the
industry. Royalty holidays and reductions would reduce the amount of Crown royalties paid by oil and gas producers to the provincial governments and would increase the net income and funds from
operations of such&nbsp;producers. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Canadian federal corporate income tax rate levied on taxable income was 16.5% effective January&nbsp;1, 2011 for active business income, including resource income, and decreased to 15% on
January&nbsp;1, 2012. The average provincial income tax rate for Suncor in 2011 was 10.69%, which is expected to decrease to 10.39% in 2014 when enacted provincial income tax rate reductions become
effective. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Other Jurisdictions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operations in the U.S are subject to the U.S.&nbsp;federal tax rate of 35% and various state-level taxes, primarily 4.63% in&nbsp;Colorado. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>There
are no royalties on production from the U.K.&nbsp;portion of the North Sea; however, the income tax rate on oil and gas profits is 62%. This rate increased from 50% effective March&nbsp;23,
2011 after the U.K.&nbsp;government announced an increase in its supplementary charge from 20% to&nbsp;32%. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>52</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>Suncor
earns refundable tax credits related to eligible exploration spending in Norway at a rate of&nbsp;78%. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Amounts
presented as royalties for production from our Libya and Syria operations are determined pursuant to PSCs. The amounts calculated reflect the difference between Suncor's working interest in
the particular project and the net revenue attributable to Suncor under the terms of the PSC. All government interests in the operations, except for income taxes, are presented as&nbsp;royalties. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Under
our EPSAs in Libya, income taxes are payable. Suncor prepares corporate income tax declarations that are processed by the NOC who, in turn, obtains a tax clearance certificate from tax
authorities that is forwarded to Suncor. The NOC remits taxes on Suncor's behalf. Until tax certificates are received, Suncor records both an income tax payable to the taxation authority and an
offsetting income tax receivable from the&nbsp;NOC. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
our PSCs in Syria, Suncor has been advised that income taxes are not payable until the Ebla project reaches payout. When payable, income taxes shall be assumed, paid and discharged on behalf of
Suncor by the&nbsp;GPC. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Land Tenure</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In Canada, petroleum, bitumen and natural gas located in the western provinces are owned predominantly by the respective provincial governments. Provincial governments grant
rights to explore for and produce oil and natural gas pursuant to leases, licences, and permits for varying terms, and on conditions set forth in provincial legislation, including requirements to
perform specific work or make payments. Oil and natural gas located in such provinces can also be privately owned and rights to explore for and produce such oil and natural gas are granted by lease on
such terms and conditions as may be negotiated. In frontier areas of Canada, the mineral rights are primarily owned by the Canadian federal government, which, either directly or through shared
jurisdiction agreements with the relevant provincial authorities, grant tenure in the form of exploration, significant discovery and production licences. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
many other international jurisdictions, petroleum and natural gas are most commonly owned by national governments that grant rights in the form of exploration licences and permits, production
licences, production sharing agreements and other similar forms of tenure. In all cases, Suncor's right to explore, develop and produce petroleum and natural gas is subject to ongoing compliance with
the regulatory requirements established by the relevant country. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Environmental Regulation</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company is subject to environmental regulation under a variety of Canadian, U.S., U.K., and other foreign, federal, provincial, territorial, state and municipal laws and
regulations. These regulatory regimes are laws of general application that apply to us in the same manner as they apply to other international companies and enterprises in the energy industry. The
regulatory regimes require us to obtain operating licences and permits in order to operate, and impose certain standards and controls on activities relating to mining, oil and gas exploration,
development and production, and the refining, distribution and marketing of petroleum products and petrochemicals. Environmental assessments and regulatory approvals are generally required before
initiating most new major projects or undertaking significant changes to existing operations. In addition, this legislation requires that the company abandon and reclaim well and facility sites to the
satisfaction of provincial authorities and, in some cases, this burden may remain with the company even after disposition of an asset to a third party. Compliance with such legislation can require
significant expenditures, and a breach of these requirements may result in suspension or revocation of necessary licences and authorizations, civil liability for pollution damage, and the imposition
of material fines and penalties. In addition to these specific, known requirements, we expect future changes to environmental legislation, including anticipated legislation for air pollution (Criteria
Air Contaminants) and greenhouse gas (GHG) emissions that will impose further requirements on companies operating in the energy industry. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>A
number of statutes, regulations and frameworks are under development or have been issued by various provincial regulators that oversee oil sands development, including the recently announced Joint
Canada-Alberta Implementation Plan for Oil Sands Monitoring. These statutes, regulations and frameworks relate to such issues as tailings management, water use and land use. While the financial
implications of statutes, regulations and frameworks under development are not yet known, the company is committed to working with the appropriate regulatory bodies as they develop new policies, and
to fully complying with all existing and new statutes, regulations and frameworks as they apply to the company's operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
general, there remains uncertainty around the outcomes and impacts of climate change and environmental laws and regulations, whether currently in force or proposed laws and regulations as described
herein, or future laws and regulations. It is not currently possible to predict the nature of any future requirements or the impact on the company and its business, financial condition, results of
operations and cash flow at this time. We continue to actively work to mitigate our environmental impact, including taking action to reduce GHG emissions, investing in renewable forms of energy such
as wind power and biofuels, persisting with land reclamation activities, installing new emissions abatement equipment and working to advance other environmental technologies such as carbon capture and
sequestration. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>53</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>The
scope of recent environmental regulation and initiatives has had an impact on many areas important to Suncor's operations, some of which are summarized in the following subsections: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Climate Change  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor operates in many jurisdictions that have regulated, or have proposed to regulate, industrial GHG emissions. Those jurisdictions that have regulated GHG emissions
generally support policies based on (i)&nbsp;caps on the intensity of GHG
emissions, (ii)&nbsp;a carbon price, possibly through a cap-and-trade system, (iii)&nbsp;a tax, (iv)&nbsp;a hybrid of a tax and a cap-and-trade
system, and (v)&nbsp;policies including other measures such as low carbon fuel and renewable fuel standards. Suncor participates in the consultation process for the design of proposed regulations
and other efforts to harmonize regulations across jurisdictions within North America, both directly and indirectly through industry associations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
believes that the responsibility for managing environmental and climate change related issues should be a shared responsibility across the company. A comprehensive roles and responsibilities
matrix has been developed as part of Suncor's GHG management program. Suncor's CEO and COO hold top executive responsibility for sustainability issues. Together with the Vice President, Sustainable
Development, the business units and selected internal technical representatives are responsible for setting operational sustainability goals and assessing progress, including energy efficiency across
all areas of our&nbsp;business. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Environment, Health, Safety and Sustainable Development Committee of the Board of Directors meets quarterly to review Suncor's effectiveness in meeting its obligations pertaining to environment,
health and safety (EHS). The committee also reviews the effectiveness with which Suncor establishes appropriate environment, health and safety policies, including GHG performance and emissions
reduction plans given legal, industry and community standards. Management systems are maintained by the committee to implement such policies and ensure compliance with&nbsp;them. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>International Climate Change Agreements and Treaties  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>At the end of 2009, the United Nations Framework on Climate Change Conference of the Parties (UNFCC COP 15)&nbsp;was held in Copenhagen, Denmark. One of the major outcomes of
this conference was the Copenhagen Accord. To signify agreement with the Copenhagen Accord, Canada subsequently committed to reducing its GHG emissions by 17% below 2005 levels by 2020, in line with
the reduction commitment made by the U.S.&nbsp;However, the Copenhagen Accord does not contain any binding commitments for reducing CO<SUB>2</SUB> emissions, nor does it include any discussion of
compliance mechanisms. The other focal point of the Copenhagen Accord was a commitment by all major emitting countries to provide funding, including $30&nbsp;billion from 2010 to 2012, for
developing countries for climate change mitigation and&nbsp;adaptation. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>During
COP 17&nbsp;in Durban, South Africa, several nations, including Canada, Japan and Russia, announced their intentions not to commit to a second period under the Kyoto Protocol; however, Canada
reaffirmed commitments for GHG reductions and funding under the Copenhagen Accord. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Canadian Federal GHG Regulations  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Canadian federal government has started to address emissions of specific sectors of the economy, including implementing vehicle emissions standards in line with the
U.S.,&nbsp;as well as performance standards for the thermal electrical power generating sector. Also in line with the U.S., Canada has adopted a renewable fuels standard, mandating that 5% of the
gasoline supply come from renewable sources such as ethanol and that 2% of diesel supply come from bio-diesel. The Canadian federal government has stated that it will align its approach to
GHG regulation with the approach of the U.S. and, in 2011, entered into preliminary discussions with the Canadian oil and gas industry on proposed regulations for the&nbsp;sector. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Canadian Provincial GHG Regulations  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In the absence of a federal GHG emissions policy, various Canadian provinces have responded with their own GHG emissions reduction targets and passed legislation enabling
regulation of large GHG emitters. Suncor will continue to engage the appropriate governmental bodies in meaningful dialogue in an effort to develop a harmonized system which focuses on achieving
actual reduction goals and sustainable resource development. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
July&nbsp;2007, pursuant to the </FONT><FONT SIZE=2><I>Specified Gas Emitters Regulation</I></FONT><FONT SIZE=2> enacted under the </FONT><FONT SIZE=2><I>Climate Change and Emissions Management
Act (Alberta)</I></FONT><FONT SIZE=2>, facilities emitting more than 100,000&nbsp;tonnes of CO<SUB>2</SUB> equivalent (CO<SUB>2e</SUB>) per year are subject to intensity limits
(GHG&nbsp;emissions per unit of production) and are required to reduce their intensity limits by 12% from an established baseline. Five facilities operated by Suncor in Alberta (Oil&nbsp;Sands
Base plants, MacKay River operations, Firebag operations, the Edmonton refinery and the Hanlan gas processing plant) are subject to, and continue to comply with, this legislation. In 2010, the total
cost to comply with the Alberta regulations was approximately $11&nbsp;million. Compliance in 2010 was achieved through reduced emissions per unit of production, purchase and retirement of offset
credits and payments to Alberta's Climate Change and Emissions Management Fund (Alberta Technology Fund). In March&nbsp;2012, Suncor expects to file compliance reports that show what actions the
company took during 2011 to demonstrate that each facility either met its intensity target or took action to offset its emissions intensity. Compliance options available to Suncor include reducing
emissions, using Alberta-sanctioned </FONT></P>

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<P style="font-family:;"><FONT SIZE=2>offset
projects, or contributing to the Alberta Technology Fund. For the compliance period of January&nbsp;1 to December&nbsp;31, 2011, the compliance costs to Suncor are estimated to be between
$10&nbsp;million and $15&nbsp;million, based on a cost of $15/tonne, which was in effect for 2011. Future costs may be subject to change, given that late in 2011, the </FONT> <FONT SIZE=2><I>Specified Gas Emitters Regulation</I></FONT><FONT SIZE=2>
was amended by the Government of Alberta, such that the contribution cost is no longer specified at the $15/tonne level.
Instead, the contribution cost will be established by Order of the&nbsp;Minister. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Several
Canadian provinces (including British Columbia, Ontario and Quebec) are members of the Western Climate Initiative (WCI), a multi-jurisdictional partnership created in 2007 to address climate
change. Effective January&nbsp;1, 2010, the </FONT><FONT SIZE=2><I>Greenhouse Gas Reduction Act (Cap&nbsp;and Trade)</I></FONT><FONT SIZE=2> enabled the British Columbia government to participate
in the trading system being implemented by the WCI. Draft regulations, as well as offset regulations, have been posted by the British Columbia Climate Action Secretariat, but have yet to be finalized.
The Province of British Columbia also enacted a carbon tax in 2008, which began at $10/tonne of CO<SUB>2e</SUB> and escalates at $5/tonne per year until 2012 when it reaches its maximum of $30/tonne.
This carbon tax is carbon neutral, in that revenues are recycled back to taxpayers via tax reductions and is applied on consumption. Under these regulations, Suncor's natural gas production and
gathering facilities in B.C. are classified as one facility, which in aggregate exceed the 100,000&nbsp;tonne threshold that requires the reporting of emissions to be verified by third parties.
Suncor's refined product distribution terminals in B.C. are required to report emissions, but do not exceed the threshold that requires third-party verification. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2007, Quebec introduced a tax on hydrocarbon production and imports, with the revenues going into a Green Fund, to support transit and other emissions-reducing projects. This tax impacts Suncor's
refining and marketing activities in the&nbsp;province. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During
2011, Quebec introduced regulations for a cap-and-trade system for GHG emissions. This system required Suncor to register as an emitter because the Montreal refinery
produces more than 25,000&nbsp;tonnes of CO<SUB>2e</SUB> per year. Emitters must verify their emissions during specified compliance periods (the&nbsp;first period commencing January&nbsp;1,
2013 and ending December&nbsp;31, 2014), and must either reduce their emissions or purchase eligible compliance mechanisms to cover their emissions above a specified cap. Quebec is responsible for
setting the cap for the province and allocating allowances to emitters in its jurisdiction. Quebec has deemed 2012 a transition year, with no cap imposed.
Allowances are fungible across the WCI, such that Quebec-issued allowances can be bought and sold with the larger trading system, which currently consists solely of Quebec and California. It is
anticipated that the Green Fund will eventually be merged with the cap-and-trade system. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Ontario
is also a member of the WCI and implemented mandatory reporting regulations beginning with 2010 emissions, but has delayed action on any further GHG emissions regulations. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>U.S.&nbsp;GHG Regulations  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Several attempts were made during the past two years to enact GHG legislation in the United&nbsp;States, none of which made it through both the Senate and the House. In an
effort to build a green economy, the President has opted to push for a clean energy standard that would reduce GHG emissions from the power sector and increase the use of cleaner sources of energy,
including natural gas, nuclear power and "clean" coal. In addition, the President is pressing ahead by endorsing the U.S.&nbsp;Environmental Protection Agency (EPA) to regulate GHG emissions under
the Clean Air Act. The implications of industry being regulated under the EPA and the timing of such regulation are as yet unknown. In the meantime, the EPA has implemented a mandatory GHG reporting
rule for all large (emitting greater than 25,000&nbsp;tonnes per year) facilities, which includes Suncor's Commerce City&nbsp;refinery. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
EPA has also mandated Renewable Fuel Standards&nbsp;2, which encourages ethanol blending up to 15%, from the current 10% limit. Several factors will impact the ability of refiners and producers
to achieve these requirements, including the lead time required for fleet turnover, the ability of retail stations to simultaneously provide both 10% and 15% fuels, and the inherent liability for
ensuring consumers use the appropriate fuel for their&nbsp;vehicle. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
State of California has passed AB32, which provides for a Low Carbon Fuel Standard (LCFS). In December&nbsp;2011, the United States District court ruled against California's LCFS, stating that
it was in violation of the Commerce Clause of the United States Constitution. Suncor does not actively market into California; however, there were two aspects of the ruling that are pertinent to
Suncor&nbsp;&#150;&nbsp;the discrimination against out-of-state producers (in&nbsp;this case, those that are reliant on coal-fired
electrical power generation for the production of ethanol), and the attempt by California to use a life-cycle analysis as the basis for the LCFS that includes exploration and production
processes outside of the State's jurisdiction. The State of California has stated that it will appeal the ruling. The outcome of this appeal is anticipated during&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>International Regulations  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Phase&nbsp;II (2008-2012) of the European Union Emissions Trading Scheme (EU&nbsp;ETS) impacts Suncor's non-operated offshore production in the U.K.
and Norway sectors of the North Sea. The EU ETS requires that member countries set emissions limits for installations in their country covered by the scheme and assigns such installations an emissions
cap. Installations may meet their cap by reducing emissions or by buying allowances from other participants. Phase&nbsp;III of the EU ETS is scheduled to begin in 2013 and will run
until&nbsp;2020. </FONT></P>

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<P style="font-family:;"><FONT SIZE=2><B>Land Use  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In 2011, the Government of Alberta issued its draft Lower Athabasca Regional Plan (LARP), which covers the Lower Athabasca Region and includes Suncor's Oil Sands segment. The
LARP, developed as part of the Land-Use Framework under the Alberta Land Stewardship Act, identifies new conservation areas, as well as management frameworks for the quality of air,
surface water and groundwater. The new conservation areas do not overlap any of Suncor's leases. The management frameworks formalize a number of regulatory tools that are already used by the
government to manage environmental aspects of oil sands development, and may require Suncor to have greater participation in the evaluation of environmental issues. The frameworks include
the&nbsp;following: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Air.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The framework is designed to maintain flexibility and to manage cumulative effects of
development on air quality within the region, setting triggers and limits for nitrogen dioxide (NO<SUB>2</SUB>) and sulphur dioxide (SO<SUB>2</SUB>). The framework includes ambient air quality
triggers and limits. Management actions are required when triggers are exceeded or limits are reduced.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Surface water.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The framework builds on, but does not replace, existing provincial
legislation and policy on water quality, and provides a framework in which to monitor and manage long-term, cumulative changes in water quality within the lower Athabasca River. The
framework includes quality limits and triggers for various indicators, based on existing Alberta, Canadian Council of Ministers of the Environment, Health Canada and U.S.&nbsp;EPA guidelines.
Management actions are required when triggers or limits are&nbsp;reached.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Groundwater.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;The framework aims to manage non-saline groundwater resources in a
sustainable manner and protect resources from contamination and over-use. The framework aims to ensure timely detection of key changes to indicators and describes the management response
that will be initiated if triggers or limits, including site-specific measures, are&nbsp;reached. </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=2><B>Reclamation and Tailings  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In February&nbsp;2009, the ERCB released Directive 74 </FONT><FONT SIZE=2><I>Tailings Performance Criteria and Requirements for Oil Sands Mining
Schemes</I></FONT><FONT SIZE=2>. The directive establishes performance criteria for tailings operations and requirements for the approval, monitoring and reporting of tailings ponds and plans. Suncor
is in the final stages of its transition from a consolidated tailings management plan to TRO<SUB>TM</SUB> operations, which is Suncor's new tailings management strategy. TRO<SUB>TM</SUB> was
approved by the ERCB in June&nbsp;2010. Suncor's mine plan is designed to facilitate the implementation of TRO<SUB>TM</SUB> through providing space for the drying of tailings and ensuring adequate
and timely storage capacity for extraction tailings from both the Millennium and NSE&nbsp;mines. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Government of Alberta also has in place the Mine Financial Security Program (MFSP), which holds oil sands miners responsible for all aspects of the suspension, abandonment, remediation and surface
reclamation work at their mine sites, and custody of the site until a reclamation certificate has been issued by the government. The MFSP requires a base amount of security for each project in the
form of letters of credit, which would provide the funds necessary to
safely secure the site. Additional security is required under other conditions, such as failure to meet current reclamation plans or when the estimated remaining production life of the mine reaches
certain levels; however, Suncor has not been required to provide any additional security. In 2011, the Government of Alberta finalized changes to the MFSP, but these changes did not significantly
impact Suncor's existing or near-term requirements for providing additional security. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Hydraulic Fracturing  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Hydraulic fracturing is the process of pumping a fluid or a gas under pressure down a well, which causes the surrounding rock to crack or fracture. The fluid, typically
consisting of water, sand, chemicals and other additives, flows into the cracks where the sand remains to keep the cracks open and allow natural gas or liquids to be recovered. Fracturing fluids are
produced back to the surface through the wellbore and are stored for reuse or future disposal in accordance with regional regulations, which may include injection into underground wells. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Government of Canada manages use of chemicals through its Chemical Management Plan and New&nbsp;Substances Program. Some provinces require the details of fracturing fluids to be submitted to
regulators. In Alberta, the ERCB requires that all fracturing operations submit regarding the quantity of fluids and&nbsp;additives. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>While
this process has been in use and improved upon for many generations, the proliferation of fracturing in recent years to access hydrocarbons in unconventional reservoirs, such as shale
formations, has raised concerns about the interaction of fracturing fluids with the water supply. In the U.S., the process is regulated by state and local governments, but the EPA is considering
undertaking a broad study as it pertains to the national Clean Water Act. Any U.S.&nbsp;rules on hydraulic fracturing could influence other jurisdictional regulation and force oil and gas companies,
including Suncor, to cease using the process or to add pollution control technology to their operations. The implications of this activity being regulated under the EPA are as yet unknown. </FONT></P>

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 </B></FONT><FONT SIZE=2><B>Industry Collaboration Initiatives  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>For areas of environmental concern, the need for energy companies to increase collaboration with each other, and with their respective stakeholders, is a particularly critical
issue for the oil sands industry. As part of the Oil Sands Leadership Initiative (OSLI), Suncor is working closely with like-minded companies to make tangible improvements to
environmental, social and economic performance in the oil sands industry. These companies have come together to pool financial resources and expertise. In 2010, members of OSLI investigated new
technologies to improve industry-wide reuse of tailings waste water and to make oil recovery more energy efficient, while also engaging new stakeholders and opinion leaders. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
addition, Suncor and six other oil sands companies announced the creation of the Oil Sands Tailings Consortium in December&nbsp;2010, and agreed to work together in a unified effort to advance
tailings management. Each company has pledged to share its existing tailings research and technology and to remove barriers to collaborating on future tailings research and development. In turn, the
companies are committing to future research investments to further accelerate tailings technology advances. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Suncor's Sustainability Commitment  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor remains committed to reducing overall GHG emissions intensity, in addition to other goals related to improving energy efficiency, reducing water use, increasing land
reclamation and reducing air emissions. We continue to actively work to mitigate our environmental impact, including taking action to reduce GHG emissions, investing in renewable forms of energy such
as wind power and biofuels, accelerating land reclamation, installing new emissions abatement equipment and pursuing other opportunities, both internally as well as through joint venture initiatives,
such as our role in OSLI. For further information, please see our Sustainability Report at www.suncor.com. </FONT></P>

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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>RISK FACTORS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company is committed to a proactive program of enterprise risk management intended to enable decision-making through consistent identification of risks
inherent to the assets and activities of Suncor. The company's enterprise risk committee (ERC), comprised of senior representatives from business and functional groups across Suncor, oversees
entity-wide processes to identify, assess and report on the company's principal risks. A principal risk is an exposure that has the potential to materially impact the ability of one of our
businesses or functions to meet or support a Suncor objective. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Commodity Price Volatility</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our financial performance is closely linked to prices for crude oil in our upstream business and prices for refined petroleum products in our downstream business, and, to a
lesser extent, to natural gas prices in our upstream business, where natural gas is both an input and output of production processes. The values for all of these commodity prices can be influenced by
global and regional supply and demand&nbsp;factors. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Crude
oil prices are also affected by, among other things, global economic health and global economic growth (particularly in emerging markets), political developments, compliance or
non-compliance with quotas imposed on OPEC members, access to markets for crude oil and weather. These factors impact the various types of crude oil and refined products differently and
can impact differentials between light and heavy grades of crude oil (including blended bitumen), and between conventional and synthetic crude&nbsp;oil. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
anticipates higher production of non-upgraded bitumen in future years, due mainly to expansion at Firebag. Due to its low viscosity, bitumen is blended with a light diluent or SCO
and sold as a heavy crude oil. The markets for heavy crude are more limited than those for light crude, making them more susceptible to supply and demand changes. Heavy crude oil receives lower market
prices than light crude, due principally to the lower quality and value of the refined product yield, and the higher cost to transport the more viscous product on pipelines. The price differential
between light crude and WCS is particularly important for Suncor. WCS is a pool of heavy crude oil and blended bitumen production from Western Canada. The market price for WCS is influenced by
regional supply and demand factors, including the availability and price of diluent, and by the availability and cost of accessing primary markets through pipeline systems. Future price differentials
are uncertain and widening light/heavy differentials could have a negative impact on our business, especially price realizations for bitumen that Suncor is unable to&nbsp;upgrade. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refined
petroleum product prices and refining margins are also affected by, among other things, crude oil prices, the availability of crude oil and other feedstocks, levels of refined product
inventories, regional refinery availability, marketplace competitiveness, and other local market&nbsp;factors. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Natural
gas prices in North America are affected primarily by supply and demand, and by prices for alternative energy sources. All of these factors are beyond our control and can result in a high
degree of price volatility. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Commodity
prices and refining margins have fluctuated widely in recent years. Given the recent global economic uncertainty, we expect continued volatility and uncertainty in commodity prices in the
near term, with the possibility that crude oil and </FONT></P>

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<P style="font-family:;"><FONT SIZE=2>refined
petroleum products prices could revert to the low levels experienced in 2008 and 2009. A prolonged period of low prices could affect the value of our upstream and downstream assets and the
level of spending on growth projects, could result in the curtailment of production on some properties and include an impairment of carrying value. Accordingly, low commodity prices, particularly for
crude oil, could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Government Policy</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor operates under federal, provincial, state and municipal legislation in numerous countries. The company is also subject to regulation and intervention by governments in
oil and gas industry matters, such as land tenure, royalties, taxes (including income taxes), government fees, production rates, environmental protection controls, safety performance, the reduction of
GHG and other emissions, the export of crude oil, natural gas and other products, the company's interactions with foreign governments, the awarding or acquisition of exploration and production rights,
oil sands leases or other interests, the imposition of specific drilling obligations, control over the development and abandonment of fields and mine sites (including restrictions on production) and
possibly expropriation or cancellation of contract rights. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Changes
in government policy or regulation have a direct impact on Suncor's business, financial condition, results of operations and cash flow, as evidenced by such initiatives as the Alberta
government's royalty review program in 2007, and, more recently, by trade sanctions in Libya and Syria imposed by Canadian and other international governments, and increased production taxes in the
U.K.&nbsp;Changes in government policy or regulation can also have an indirect impact on Suncor, such as opposition to new North American pipeline systems, such as Keystone XL, or incrementally over
time, through increasingly stringent environmental regulations or unfavourable income tax and royalty regimes. The result of such changes can also lead to additional compliance costs and staffing and
resource levels, and also increase exposure to other principal risks of Suncor, including environmental or safety non-compliance and permit approvals. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Environmental Regulation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Changes in environmental regulation could have a material adverse effect on our business, financial condition, results of operations and cash flow by impacting the demand,
formulation or quality of our products, or by requiring increased capital expenditures or distribution costs, which may or may not be recoverable in the marketplace. The complexity and breadth of
changes in environmental regulation make it extremely difficult to predict the potential impact to Suncor. Management anticipates capital expenditures and operating expenses could increase in the
future as a result of the implementation of new and increasingly stringent environmental regulations. Failure to comply with environmental regulation may result in the imposition of significant fines
and penalties, liability for cleanup costs and damages, and the loss of important licences and permits, which may, in turn, have a material adverse effect on our business, financial condition, results
of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Some
of the issues that are or may in future be subject to environmental regulation include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The possible cumulative regional impacts of oil sands development;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The manufacture, import, storage, treatment and disposal of hazardous or industrial waste and&nbsp;substances;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The need to reduce or stabilize various emissions to air;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Withdrawals, use of, and discharges to water;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The use of hydraulic fracturing to assist in the recovery and production of oil and natural&nbsp;gas;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Issues relating to land reclamation, restoration and wildlife habitat protection;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Reformulated gasoline to support lower vehicle emissions;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>U.S.&nbsp;state or federal calculation and regulation of fuel life-cycle carbon content;&nbsp;and



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Regulation or policy by foreign governments or other organizations to limit purchases of oil produced from unconventional sources, such as the
oil&nbsp;sands. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>Climate Change Regulation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Future laws and regulations may impose significant liabilities on a failure to comply with their requirements; however, Suncor expects the cost of meeting new environmental and
climate change regulations will not be so high as to cause material disadvantage to the company or material damage to its competitive positioning. While it currently appears that GHG regulations and
targets will continue to become more stringent, and while Suncor will continue efforts to reduce the CO<SUB>2</SUB> unit intensity of our operations, the absolute CO<SUB>2</SUB> emissions of our
company will continue to rise as we pursue a prudent and planned growth strategy. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>58</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>As
part of our ongoing business planning, Suncor assesses potential costs associated with CO<SUB>2</SUB> emissions in our evaluation of future projects, based on our current understanding of pending
and possible GHG regulations. Both the U.S. and Canada have indicated that climate change policies that may be implemented will attempt to balance economic, environmental and energy security concerns.
In the future, we expect that regulation will evolve with a moderate carbon price signal, and that the price regime will progress cautiously. Suncor will continue to review the impact of future carbon
constrained scenarios on our strategy, using a price range of $15-$45 per tonne of CO<SUB>2</SUB> equivalent as a base case, applied against a range of regulatory policy options and price
sensitivities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Although
Suncor does not actively market into California, the implications of other states or countries adopting similar LCFS legislation could pose a significant barrier to our exports of oil sands
crude if the importing jurisdictions do not acknowledge efforts undertaken by the oil sands industry to meet the emissions intensity reductions legislated by the Government of&nbsp;Alberta. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
general, there remains uncertainty around the outcome and impacts of proposed or potential future climate change and other related environmental regulation. The Canadian federal government has gone
on record as saying that it will align GHG emissions legislation with the U.S.&nbsp;Although it remains unclear what approach the U.S.&nbsp;will take, or when, the Canadian federal government has
indicated a preference for a sector specific approach; however, it is unclear what form any regulation will take for the oil and gas sector, and what type of compliance mechanisms will be available to
large emitters. At this time, the company does not believe it is possible to predict the nature of any requirements or the impact on Suncor's business, financial condition, results of operations and
cash flow. The impact of developing regulations cannot be quantified at this time given the current lack of detail on how systems will&nbsp;operate. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Land Reclamation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are risks associated specifically with our ability to reclaim tailings ponds containing mature fine tailings with TRO<SUB>TM</SUB> or other methods and technologies.
Suncor expects that TRO<SUB>TM</SUB> will help the company reclaim existing tailings ponds by reducing tailings. The success of TRO<SUB>TM</SUB> or any other methods or technology and the time to
reclaim tailings ponds could increase or decrease our decommissioning and restoration cost estimates. Our failure or inability to adequately implement our reclamation plans, including our planned
implementation of TRO<SUB>TM</SUB>, could have a material adverse effect on Suncor's business, financial condition, results of operations and cash flow. In recent years, Suncor has increased
collaboration with other participants in the oil sands industry to share technology and knowledge and to research alternative methods for tailings management. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>Royalties  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties can be impacted by changes in crude oil and natural gas pricing, production volumes, foreign exchange rates, and capital and operating costs, by changes to existing
legislation or PSCs, and by results of regulatory audits of prior year filings and other unexpected events. Some of the issues where settlement with regulatory bodies may cause royalties expense or
royalties payable to differ materially from provisions currently recorded include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Suncor's mining operations (not&nbsp;including Syncrude), the BVM is based on the terms of Suncor's RAA, which we believe places certain
limitations on the interim BVM as recently enacted, which modified the BVM for additional quality and transportation adjustments. For the years 2009 to 2010, Suncor filed non-compliance
notices with the Alberta government, citing that reasonable quality adjustments in the determination of the Suncor BVM were not considered by the Alberta government as permitted by Suncor's RAA.
Suncor has also filed with the Alberta government a Notice of Commencement of Arbitration under the Suncor RAA. The owners of the Syncrude joint venture have also filed a non-compliance
notice in respect of the determination of the bitumen value under its 2008 agreements with the Alberta government.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Suncor has also appealed the disallowance of certain costs under the New&nbsp;Royalty Framework in Alberta and certain costs under royalty
agreements in Newfoundland and Labrador, such as insurance premiums. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
final determination of these matters may have a material impact on royalties payable to the respective governments and on the company's royalties expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Foreign Operations  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company has operations in a number of countries with different political, economic and social systems. As a result, the company's operations and related assets are subject
to a number of risks and other uncertainties arising from foreign government sovereignty over the company's international operations, which may include, among other&nbsp;things: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Currency restrictions and exchange rate fluctuations;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Loss of revenue, property and equipment as a result of expropriation, nationalization, war, insurrection and geopolitical and other political
risks;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Increases in taxes and governmental royalties;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Compliance with existing and emerging anti-corruption laws, including the Foreign Corrupt Practices Act of the United&nbsp;States,
the Corrupt Foreign Officials Act of Canada and the United&nbsp;Kingdom Bribery&nbsp;Act; </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>59</B></FONT></P>

<HR NOSHADE>
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<UL>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Renegotiation of contracts with governmental entities and quasi-governmental agencies;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Changes in laws and policies governing operations of foreign-based companies;&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Economic and legal sanctions (such as restrictions against countries experiencing political violence, or countries that other governments may deem
to sponsor terrorism). </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>If
a dispute arises in the company's foreign operations, the company may be subject to the exclusive jurisdiction of foreign courts or may not be able to subject foreign persons to the jurisdiction of
a court in Canada or the U.S.&nbsp;In addition, as a result of activities in these areas and a continuing evolution of an international framework for corporate responsibility and accountability for
international crimes, the company could also be exposed to potential claims for alleged breaches of international&nbsp;law. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, operations in both Libya and Syria were suspended as a result of the outbreak of political unrest and the resulting sanctions imposed by international governments. Discussions with the Libyan
authorities continue on the status of existing contract terms, including production volumes and exploration commitments. There is still sufficient unpredictability underlying operations in this
region, including the ramp up of production, the sustainability of current production rates and the extent of damage to the company's assets, which has not yet been fully assessed. As a result, there
is no assurance that production will return to previous levels or continue at current&nbsp;levels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
response to sanctions and escalating political unrest in Syria, Suncor declared force majeure in December&nbsp;2011, withdrew its expatriate staff and stopped recording production from Syria.
Suncor's assessment of the situation as at December&nbsp;31, 2011 did not require the company to record an impairment charge against its assets in Syria; however, should the current situation
persist or worsen, such that Suncor is unable to resume operations in the near term, the company believes its assets in Syria could be impaired in the future. There is no assurance as to when Suncor's
production from Syrian assets will resume or return to previous levels. Suncor's operations in Syria represented approximately 3% of the company's consolidated net earnings and 3% of the company's
cash flow from operations in 2011. The carrying value of Suncor's net assets in Syria at December&nbsp;31, 2011 was approximately $900&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
impact that future potential terrorist attacks, regional hostilities or political violence may have on the oil and gas industry, and on our operations in particular, is not known at this time.
This uncertainty may affect operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly crude oil, and the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and refineries, could be direct targets of, or collateral damage of, an act of terror, political violence or war. We may be required to incur
significant costs in the future to safeguard our assets against terrorist activities or to remediate potential damage to our facilities. There can be no assurance that we will be successful in
protecting ourselves against these risks and the related financial consequences. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>EHS Regulatory Non-Compliance</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company is required to comply with a large number of EHS regulations under a variety of Canadian, U.S., U.K. and other foreign, federal, provincial, territorial, state and
municipal laws and regulations, as described in the Industry Conditions&nbsp;&#150;&nbsp;Environmental Regulation section of this AIF. Failure to comply with these regulations
may result in the imposition of fines and penalties, censure, liability for cleanup costs and damages, and the loss of important licences and permits, which could also have a material adverse effect
on our business, financial condition, results of operations and cash flow. Compliance can be affected by the loss of skilled staff, inadequate internal processes and compliance auditing. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operational Outages and Major Environmental or Safety Incidents</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Each of our primary operating businesses&nbsp;&#150;&nbsp;Oil Sands, Exploration and Production, and Refining and
Marketing&nbsp;&#150;&nbsp;demand significant levels of investment in the design, operation and maintenance of facilities, and, therefore, carry the additional economic risk
associated with operating reliably or enduring a protracted operational outage. These businesses also carry the risks associated with environmental and safety performance, which is closely scrutinized
by governments, the public and the media, and could result in a suspension of or inability to obtain regulatory approvals and permits, or, in the case of a major environmental or safety incident,
civil suits or charges against the&nbsp;company. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Generally,
our operations are subject to operational hazards and risks such as fires, explosions, blow-outs, power outages, severe winter climate conditions, and the migration of harmful
substances such as oil spills, gaseous leaks, or a release of tailings into water systems, any of which can interrupt operations or cause personal injury or death, or damage to property, equipment,
the environment, and information technology systems and related data and control systems. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
reliable operation of production and processing facilities at planned levels and our ability to produce higher value products can also be impacted by failure to follow operating procedures or
operate within established operating parameters, equipment failure through inadequate maintenance, unanticipated erosion or corrosion of facilities, manufacturing and engineering flaws, and labour
shortage or interruption. We are also subject to operational risks such as sabotage, terrorism, trespass, theft and malicious software or network attacks. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>60</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>The
efficient operation of our business is dependent on computer hardware and software systems. Information systems are vulnerable to security breaches by computer hackers and cyberterrorists. We rely
on industry accepted security measures and technology to securely maintain confidential and proprietary information stored on our information systems. However, these measures and technology may not
adequately prevent security breaches. In addition, the unavailability of the information systems or the failure of these systems to perform as anticipated for any reason could disrupt our business and
could result in decreased performance and increased operating costs, causing our business and results of operations to suffer. Any significant interruption or failure of our information systems or any
significant breach of security could adversely affect our business and results of&nbsp;operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
addition, all of our operations are subject to all of the risks connected with transporting, processing and storing crude oil, natural gas and other related products. Pipeline capacity constraints
combined with plant capacity constraints could negatively impact our ability to produce at capacity levels. Disruptions in pipeline service could adversely affect commodity prices, Suncor's price
realizations, refining operations and sales volumes, or limit our ability to deliver production. These interruptions may be caused by the inability of the pipeline to operate or by the oversupply of
feedstock into the system that exceeds pipeline capacity. There can be no certainty that short-term operational constraints on pipeline systems arising from pipeline interruption and/or
increased supply of crude oil will not occur. In addition, planned or unplanned shutdowns or closures of our refinery customers may limit our availability to deliver feedstock. All of these events
could have negative implications on sales and cash from operating activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's Oil Sands operations, mining oil sands ore, extracting bitumen from mined ore, producing bitumen through in situ methods, and upgrading bitumen into SCO and other products involve
particular risks and uncertainties. Oil Sands operations are susceptible to loss of production, slowdowns, shutdowns or restrictions on our ability to produce higher value products, due to the
interdependence of its component systems. Through growth projects, we expect to further mitigate adverse impacts of interdependent systems and to reduce the production and cash flow impacts of
complete plant-wide shutdowns. For example, Suncor has two upgrader facilities that include three secondary upgrading units, which provide us with the flexibility to conduct periodic
planned maintenance events on one facility while continuing production from the&nbsp;other. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's upstream businesses, there are risks and uncertainties associated with drilling for oil and natural gas, the operation and development of such properties and wells (including encountering
unexpected formations, pressures, ore grade qualities, or the presence of H<SUB>2</SUB>S), premature declines of reservoirs, sour gas releases, uncontrollable flows of crude oil, natural gas or well
fluids, other accidents, and pollution and other environmental risks. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our
Exploration and Production operations include drilling offshore of Newfoundland and Labrador and in the North Sea offshore of the U.K. and Norway, which are areas subject to hurricanes and other
extreme weather conditions. Drilling rigs in these regions may be exposed to damage or total loss by these storms, some of which may not be covered by insurance. The consequence of catastrophic
events, such as blow-outs, occurring in offshore operations can be more difficult and time-consuming to remedy. The occurrence of these events could result in the suspension of
drilling operations, damage to or destruction of the equipment involved and injury or death of rig
personnel. Successful remediation of these events may be adversely affected by the water depths, pressures and cold temperatures encountered in the ocean, shortages of equipment and specialists
required to work in these conditions, or the absence of appropriate technology to resolve the event. Damage to the environment, particularly through oil spillage or extensive, uncontrolled fires or
death, could result from these offshore operations. Our offshore operations could also be affected by the actions of our contractors and agents that could result in similar catastrophic events at
their facilities, or could be indirectly affected by catastrophic events occurring at other third-party offshore operations. In either case, this could give rise to liability, damage to our equipment,
harm to individuals, force a shutdown of our facilities or operations, or result in a shortage of appropriate equipment or specialists required to perform our planned operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
particular, East Coast Canada operations can be impacted by winter storms, pack ice, icebergs and fog. During the winter storm season (October to March), we may have to reduce production rates at
our offshore facilities as a result of limited storage capacity and the inability to offload to shuttle tankers due to wave height restrictions. During the spring, pack ice and icebergs drifting in
the area of our offshore facilities have resulted in precautionary shut in of FPSO production and drilling delays. In late spring and early summer, fog also impacts our ability to transfer personnel
to the offshore facilities by&nbsp;helicopter. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our
Refining and Marketing operations are subject to all of the risks normally inherent in the operation of refineries, terminals, pipelines and other distribution facilities and service stations,
including loss of product, slowdowns due to equipment failures, unavailability of feedstock, price and quality of feedstock or other incidents. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Losses
resulting from the occurrence of any of these risks identified above could have a material adverse effect on Suncor's business, financial condition, results of operations and cash flow.
Although we maintain a risk management program, which includes an insurance component, such insurance may not provide adequate coverage in all circumstances, nor are all such risks insurable. It is
possible that our insurance coverage will not be sufficient to address the costs arising out of the allocation of liabilities and risk of loss arising from offshore operations. Suncor also has a
captive insurance entity to provide additional business interruption coverage for potential losses. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>61</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Project Execution and Partner Risk</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are certain risks associated with the execution of our major projects and the commissioning and integration of new facilities within our existing asset base, the
occurrence of which could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Project
execution risk consists of three related primary risks: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Engineering&nbsp;&#150;&nbsp;a failure in the specification, design or technology selection;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Construction&nbsp;&#150;&nbsp;a failure to build the project in the approved time and at the agreed cost;&nbsp;and



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Commissioning and start-up&nbsp;&#150;&nbsp;a failure of the facility to meet agreed performance targets,
including operating costs, efficiency, yield and maintenance costs. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Management
believes the execution of major projects presents issues that require prudent risk management. Suncor may provide cost estimates for major projects at the conceptual stage, prior to
commencement or completion of the final scope design and detailed engineering necessary to reduce the margin of error of such cost estimates. Accordingly, actual costs can vary from estimates, and
these differences can be material. Project execution can also be impacted&nbsp;by: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Failure to comply with Suncor's project implementation model;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The availability, scheduling and cost of materials, equipment and qualified personnel;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The complexities associated with integrating and managing contractor staff and suppliers in a confined construction&nbsp;area;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Our ability to obtain the necessary environmental and other regulatory approvals;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The impact of general economic, business and market conditions;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The impact of weather conditions;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Our ability to finance growth if commodity prices were to decline and stay at low levels for an extended period;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Risks relating to restarting projects placed in safe mode, including increased capital costs;&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The effect of changing government regulation and public expectations in relation to the impact of oil sands development on the environment. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Other
entities operate a portion of the assets in which Suncor has ownership interests. Suncor's dependence on its partners&nbsp;&#150;&nbsp;the operator and other working
interest owners for these assets&nbsp;&#150;&nbsp;and its limited ability to influence operations and associated costs could materially adversely affect Suncor's business,
financial condition, results of operations and cash flow. The success and timing of Suncor's activities on assets operated by others depend upon a number of factors that are outside of Suncor's
control, including the timing and amount of capital expenditures, the timing and amount of operational and maintenance expenditures, the operator's expertise, financial resources and risk management
practices, the approval of other participants, and the selection of&nbsp;technology. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>These
partners may have objectives and interests that do not coincide with and may conflict with Suncor's interests. Major capital decisions affecting jointly owned assets may require agreement among
the partners, while certain operational decisions may be made solely at the discretion of the operator of the applicable assets. While the partners generally seek consensus with respect to major
decisions concerning the direction and operation of the assets, no assurance can be provided that the future demands or expectations of either party relating to such assets will be met satisfactorily
or in a timely manner. Failure to satisfactorily meet demands or expectations by either party may affect our participation in the operation of such assets, our ability to obtain or maintain necessary
licences or approvals, or the timing for undertaking various activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Corporate Reputation</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>The public perception of integrated oil and gas companies and their operations may pose issues related to development and operating approvals or market access for products,
which may have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Development
of the oil sands has figured prominently in recent political, media and activist commentary on the subjects of pipeline transportation, climate change, GHG emissions, water usage and
environmental damage, which may directly
or indirectly harm the profitability of our current oil sands projects and the viability of future oil sands projects in a number of ways, including: </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Creating significant regulatory uncertainty that challenges economic modelling of future projects and potentially delays sanctioning;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Motivating extraordinary environmental and emissions regulation of those projects by governmental authorities that could result in changes to
facility design and operating requirements, thereby potentially increasing the cost of construction, operation and abandonment;&nbsp;and </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>62</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Compelling legislation or policy that limits the purchase of crude oil produced from the Athabasca oil sands by governments and other
institutional consumers that, in turn, limits the market for this crude oil and reduces its&nbsp;price. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Concerns
such as those raised above may also harm our corporate reputation and limit our ability to transport our products or access land and joint venture opportunities in other jurisdictions
throughout the world. Investors may respond by applying a discount to Suncor's shares, thereby diminishing the company's value, or may hinder Suncor in its ability to influence government policy. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Permit Approvals</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Before proceeding with most major projects, including significant changes to existing operations, Suncor must obtain various federal, provincial or state permits and regulatory
approvals. Suncor must also obtain licences to operate certain assets. These processes can involve, among other things, stakeholder consultation, environmental impact assessments and public hearings,
and may be subject to conditions, including security deposit obligations and other commitments. Suncor can also be indirectly impacted by a third party's inability to obtain regulatory approval for a
shared infrastructure project. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Failure
to obtain regulatory approvals, or failure to obtain them on a timely basis or on satisfactory terms, could result in delays, abandonment or restructuring of projects and increased costs, all
of which could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Skills and Resource Shortage</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The successful operation of Suncor's businesses and our ability to expand operations will depend upon the availability of, and competition for, skilled labour and materials
supply. There is a risk that we may have difficulty sourcing the required labour for current and future operations. The risk could manifest itself primarily through an inability to recruit new staff
without a dilution of talent, to train, develop and retain high quality and experienced staff without unacceptably high attrition, and to satisfy an employee's work/life balance and desire for
competitive compensation. The labour market in Alberta is particularly tight due to the growth of the oil sands industry and higher crude oil prices. The increasing age of our existing workforce adds
further pressure to this situation. Materials may also be in short supply due to smaller labour forces in many manufacturing operations. Our ability to operate safely and effectively and complete all
our projects on time and on budget has the potential to be significantly impacted by these&nbsp;risks. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Change Capacity</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In order to achieve Suncor's business objectives, the company must operate efficiently, reliably and safely, and, at the same time, deliver growth and sustaining projects
safely, on budget and on schedule. The ability to balance these two sets of objectives is critically important to Suncor to deliver value to shareholders and stakeholders. These objectives demand a
large number of improvement initiatives that compete for resources, and may negatively impact the company should there be inadequate screening of project requests or consideration of the cumulative
impacts of prior and parallel initiatives on people, processes and systems. There is a risk that these objectives may exceed Suncor's capacity to adopt and implement change. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Cost Management</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production from oil sands through mining, upgrading and in situ recovery is, relative to most major conventional hydrocarbon reserves, a higher cost resource to develop and
produce. There is also a perception among many stakeholders that the oil sands industry, including Suncor, has little ability to control costs. Suncor is exposed to the risks of growing or
uncontrollable operating costs, which could reduce profitability and cash flow that might otherwise be directed towards growth or dividends, and major project capital costs, which could constrain
Suncor's ability to execute high quality projects that deliver lower operating costs. Factors contributing to these risks include, but are not limited to, the skills and resource shortage, the
long-term success of existing and new in situ technologies, and the geology and reserves characterization of in situ reserves that can lead to higher SORs and lower production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exchange Rate Fluctuations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our audited Consolidated Financial Statements are presented in Canadian dollars. The majority of Suncor's revenues from the sale of oil and natural gas are based on prices that
are determined by, or referenced to, U.S.&nbsp;dollar benchmark prices, while the majority of Suncor's expenditures are realized in Canadian dollars. The company also holds substantial amounts
of U.S.&nbsp;dollar debt. Suncor's results, therefore, can be affected significantly by the exchange rates between the Canadian dollar and the U.S.&nbsp;dollar. The company also undertakes
operations administered through international subsidiaries, and so, to a lesser extent, Suncor's results can be affected by the exchange rates between the Canadian dollar and the euro, and the
Canadian dollar and the British pound. These exchange rates may vary substantially and may give rise to favourable or unfavourable foreign currency exposure, which could have a material adverse effect
on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>63</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reliance on Key Personnel</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our success, in a large measure, is dependent on certain key personnel. The loss of services from such key personnel could have a material adverse effect on the company. The
contributions of the existing management team to the immediate and near-term operations of the company are likely to continue to be of central importance for the foreseeable future. In
addition, the competition for qualified personnel in the oil and natural gas industry is intense, and there can be no assurance that we will be able to continue to attract and retain all personnel
necessary for the development and operation of our&nbsp;business. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Labour Relations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Hourly employees at our Oil Sands facilities near Fort McMurray, Alberta, all of our refineries, certain of our lubricants operations, certain of our terminalling and
distribution operations, and our Terra Nova FPSO are represented by labour unions or employee associations. Approximately 36% of our employees are members of the Communications, Energy and
Paperworkers Union. Any work interruptions involving our employees, contract trades utilized in our projects or operations, or any joint venture facilities operated by another entity could have a
material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Dependence on Oil Sands Business</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our significant capital commitment to further our growth projects and sustain operations at our Oil Sands business may require us to forego investment opportunities in other
segments of our operations. The completion of future projects to increase production at our Oil Sands business will further increase our dependence on the Oil Sands&nbsp;business. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Uncertainty of Reserves and Resources Estimates</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The reserves and contingent resources estimates included in this AIF represent estimates only. There are numerous uncertainties inherent in estimating quantities and quality of
these proved and probable reserves and contingent resources, including many factors beyond our control. In general, estimates of economically recoverable reserves and the future net cash flow from
these assets are based upon a number of variable factors and assumptions, such as historical production from the properties, the assumed effect of regulation by governmental agencies, pricing
assumptions, the timing and amount of capital expenditures, future royalties, future operating costs, and yield rates for upgraded production of synthetic crude oil from
bitumen&nbsp;&#150;&nbsp;all of which may vary considerably from actual results. The accuracy of any reserves and resources estimates is a matter of interpretation and judgment
and is a function of the quality and quantity of available data, which may have been gathered over&nbsp;time. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Reserves
and resources estimates are based upon a geological assessment, including drilling and laboratory tests. Mining reserves and resources estimates also consider production capacity and
upgrading yields, mine plans, operating life and regulatory constraints. In Situ reserves and resources estimates are also based upon the testing of core samples and seismic operations, trends of well
performance, and demonstrated commercial success of in situ processes. Our actual production, revenues, royalties, taxes, and development and operating expenditures with respect to our reserves will
vary from such estimates, and such variances could be material. Production performance subsequent to the date of the estimate may justify revision, either upward or downward, if&nbsp;material. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
reserves evaluations are based in part on the assumed success of activities we intend to undertake in future years. The reserves and estimated cash flow to be derived from the reserves contained
in the reserves evaluations will be reduced to the extent that such activities do not achieve the level of success assumed in the reserves evaluations. The reserves evaluations are effective as of a
specific effective date and have not been updated, and thus do not reflect changes in our reserves since that&nbsp;date. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
these reasons, estimates of the economically recoverable reserves and resources attributable to any particular group of properties, and classification of such reserves and resources based on the
risk of recovery, prepared by different engineers or by the same engineers at different times, may vary. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Need to Replace Conventional Reserves</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In our Exploration and Production business, conventional oil and natural gas reserves and future production are highly dependent on the successful discovery or acquisition of
additional reserves, without which production rates will decline as reserves are depleted. Decline rates will vary with the nature of the reservoir, the life cycle of the well and other factors, and
are not necessarily indicative of future performance. Exploring for, developing and acquiring reserves is highly capital intensive. To the extent the company is unable to generate sufficient capital
and/or external sources of capital become limited or unavailable, our ability to make the necessary capital investments to maintain and expand our conventional oil and natural gas reserves could be
constrained. In addition, the long-term performance of the Exploration and Production business is dependent on our ability to consistently and competitively find and develop low cost, high
quality reserves that can be brought on-stream economically. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>64</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>In Situ Recovery and Other Technology Risk</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are risks associated with growth and other capital projects that rely largely or partly on new technologies and the incorporation of such technologies into new or existing
operations, particularly as the results of the application of new technologies may differ from simulated or test environments. The success of projects incorporating new technologies, such as in situ
technology, cannot be&nbsp;assured. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Current
SAGD technologies for in situ recovery of heavy oil and bitumen are energy intensive, requiring significant consumption of natural gas and other fuels in the production of the steam used in
the recovery process. The amount of steam required in the production process can also vary and impact costs. The performance of the reservoir can also impact the timing and levels of production using
this technology. While SAGD technology is now being used by several producers in the industry, commercial application of this technology is still in the early stages relative to other methods of
production and, accordingly, in the absence of an extended operating history, there can be no assurances with respect to the sustainability of SAGD operations. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Energy Trading and Risk Management Activities and the Exposure to
Counterparties</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The nature of energy trading and risk management activities, which may make use of hedging and derivative financial instruments, creates exposure to significant financial risks,
which include, but are not limited to, the&nbsp;following: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Movements in prices or values could result in a financial loss to the company;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>A lack of counterparties, due to market conditions or other circumstances, could leave us unable to liquidate or offset a position, or unable to
do so at or near the previous market&nbsp;price;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>We may not receive funds or instruments from our counterparty at the expected&nbsp;time;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The counterparty could fail to perform an obligation owed to us;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Loss as a result of human error or deficiency in our systems or controls; and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Loss as a result of contracts being unenforceable or transactions being inadequately documented. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>In
the normal course of business, the company enters into contractual relationships with counterparties in the energy industry and other industries, including counterparties for interest rate, foreign
exchange and commodity hedging arrangements. If such counterparties do not fulfil their contractual obligations, the company may suffer losses, may have to proceed on a sole risk basis, may have to
forego opportunities or may have to relinquish leases or&nbsp;blocks. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has adopted a Trading Risk Management Policy (the&nbsp;Trading Policy), which requires all trading activities to occur in the group responsible for trading, so that trading risks can be
properly monitored, controlled and reported. The Board has set the trading commodities, trading term limits, value-at-risk limits and stop-loss limits under the
Trading Policy. Any changes to the foregoing require Board approval. The Board reviews and monitors Suncor's compliance with the Trading Policy through the Audit Committee, which receives a quarterly
report that summarizes Suncor's trading activities and provides an assessment of Suncor's financial exposure to risk from these activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>To
reduce exposure to unfavourable movements in commodity prices, interest rates and foreign exchange rates, the company also periodically enters into contracts involving derivative financial
instruments. The terms of these contracts or instruments may limit the benefit of favourable changes in commodity prices, interest rates and currency values and may result in financial or opportunity
loss due to delivery commitments, royalty rates and counterparty risks associated with the&nbsp;contracts. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>While
the company limits its exposure to any one counterparty to a level that management deems to be reasonable, losses due to counterparties failing to fulfil their contractual obligations may have a
material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Control Environment</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Based on their evaluation as of December&nbsp;31, 2011, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures
(as&nbsp;defined in Rules&nbsp;13a-15(e) and&nbsp;15d-15(e) under the United&nbsp;States </FONT><FONT SIZE=2><I>Securities Exchange Act of 1934</I></FONT><FONT SIZE=2>
(the&nbsp;Exchange Act)) are effective to ensure that information required to be disclosed by us in reports that we file or submit to Canadian and U.S.&nbsp;securities authorities is recorded,
processed, summarized and reported within the time periods specified in Canadian and U.S.&nbsp;securities laws. In addition, as of
December&nbsp;31, 2011, there were no changes in our internal control over financial reporting (as&nbsp;defined in Exchange Act Rules&nbsp;13a-15(f) to&nbsp;15d-15(f))
that occurred during the year ended December&nbsp;31, 2011 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. We will
continue to periodically evaluate our disclosure controls and procedures and internal control over financial reporting and will make any modifications from time-to-time as
deemed necessary. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Based
on their inherent limitations, disclosure controls and procedures and internal controls over financial reporting may not prevent or detect misstatements, and even those controls determined to be
effective can provide only reasonable assurance with respect to financial statement preparation and presentation. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>65</B></FONT></P>

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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Dividends</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our payment of future dividends on our common shares will be dependent on, among other things, our financial condition, results of operations, cash flow, the need for funds to
finance ongoing operations, debt covenants and other business considerations as the company's Board considers relevant. There can be no assurance that we will continue to pay dividends in the future,
at current levels, or at&nbsp;all. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Interest Rate Risk</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>We are exposed to fluctuations in short-term Canadian and U.S.&nbsp;interest rates as Suncor maintains a portion of its debt capacity in revolving and floating
rate bank facilities and commercial paper, and invests surplus cash in short-term debt instruments. We are also exposed to interest rate risk when debt instruments are maturing and require
refinancing, or when new debt capital needs to be&nbsp;raised. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Capital Markets</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor expects that future capital expenditures will be financed out of cash generated from operations and borrowings. This ability is dependent on, among other factors,
commodity prices, the overall state of the capital markets and investor appetite for investments in the energy industry generally and our securities in&nbsp;particular. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
market events and conditions witnessed over the past several years, including disruptions in international credit markets and other financial systems and the deterioration of global economic
conditions, have caused significant volatility in commodity prices and increases in the rates at which we are able to borrow funds for our capital programs. The
continued uncertainty in the global economic situation means that the company, along with all other oil and gas entities, may continue to face restricted access to capital and increased borrowing
costs. To the extent that external sources of capital become limited or unavailable or available on unfavourable terms, our ability to make capital investments and maintain existing properties may be
constrained, and, as a result, Suncor's business, financial condition, results of operations and cash flow may be materially adversely affected. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>At
December&nbsp;31, 2011, we had approximately $4.4&nbsp;billion of unused credit available under bank credit facilities. Based on current cash and cash equivalents balances and expected cash
from operations, we believe that we have sufficient funds available to fund our planned capital expenditures for 2012. If cash flow from operations is lower than expected, if capital expenditures in
2012 exceed current estimates, or if we incur major unanticipated expenses related to the development or maintenance of our existing assets, Suncor may need to re-evaluate its capital program or seek
additional capital. Choosing not to obtain the financing necessary for our capital expenditure plans may result in a delay in the planned development of production from our operations and strand
significant capital, while increasing costs to keep projects in safe mode. Choosing to seek additional capital might adversely affect our credit ratings. Either of these events could have a material
adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Issuance of Debt and Debt Covenants</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>From time-to-time, we may finance capital expenditures in whole or in part with debt, which may increase our debt levels above industry standards for oil
and gas companies of similar size. Depending on future development plans, we may require additional debt financing that may not be available or, if available, may not be available on favourable terms,
including higher interest rates and fees. Neither the company's articles nor its bylaws limit the amount of indebtedness that we may incur; however, we are subject to covenants in our existing bank
facilities and seek to avoid an unfavourable cost of debt. The level of our indebtedness, from time-to-time, could impair our ability to obtain additional financing on a timely basis to take advantage
of business opportunities that may arise and could negatively affect our credit ratings, which could have a material adverse effect on Suncor's business, financial condition, results of operations and
cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
currently has $5.8&nbsp;billion in credit facilities, the majority of which matures in 2016, with the remainder maturing in 2013 or on demand. At December&nbsp;31, 2011, Suncor's total debt
was $10.8&nbsp;billion. We are required to comply with financial and operating covenants under these credit facilities and debt securities. We routinely review the covenants based on actual and
forecast results and have the ability to make changes to our development plans, capital structure and/or dividend policy to comply with covenants under the credit facilities. If Suncor does not comply
with the covenants under its credit facilities and debt securities, repayment could be required and/or the company's access to capital could be restricted or only be available on unfavourable terms,
all of which could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
debt instruments are rated by various credit rating agencies. These ratings affect Suncor's ability to gain access to reasonably priced debt financing. If any of Suncor's credit rating
agencies downgrade Suncor's debt instruments, it may restrict Suncor's ability to issue debt and may also increase the cost of borrowing, including under existing credit facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Rating
agencies regularly evaluate the company and our subsidiaries. Their ratings of our long-term and short-term debt are based on a number of factors, including our
financial strength, as well as factors not entirely within our control, including conditions affecting the oil and gas industry generally, and the wider state of the economy. We cannot be assured that
one or </FONT></P>

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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>66</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<P style="font-family:;"><FONT SIZE=2>more
of our credit ratings will not be downgraded. Our borrowing costs and ability to raise funds are directly impacted by our credit ratings. In addition, credit ratings may be important to customers
or counterparties when we compete in certain markets and when we seek to engage in certain transactions, including transactions involving over-the-counter derivatives. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>It
is our objective to maintain high quality credit ratings appropriate for our business activities. A credit-rating downgrade could potentially limit our access to private and public credit markets
and increase the costs of borrowing under existing facilities. A reduction in our credit ratings also could have a significant impact on certain trading revenues, particularly in those businesses
where counterparty creditworthiness is critical. It could trigger collateralization requirements related to physical and financial derivative liabilities with certain marketing counterparties and
facility construction contracts. The occurrence of any of the foregoing could adversely affect our ability to execute portions of our business strategy and could have a material adverse effect on our
liquidity and capital position. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Competition</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The global petroleum industry is highly competitive in many aspects, including the exploration for and the development of new sources of supply, the acquisition of crude oil and
natural gas interests, and the refining, distribution and marketing of refined petroleum products. We compete in virtually every aspect of our business with other energy companies. The petroleum
industry also competes with other industries in supplying energy, fuel and related products to consumers. We believe the primary competition for our crude oil production is other major international
oil and natural gas producers and integrated companies. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's Oil Sands segment, a number of other companies have entered, or have indicated their intention to enter, the oil sands business and begin producing bitumen and SCO, or expand their
existing operations. It is difficult to assess the number, level of production and ultimate timing of all potential new projects or when existing production levels may increase. During recent years, a
global focus on the oil sands through increasing industry consolidation that has created competitors with financial capacity has significantly increased the supply of bitumen, SCO and heavy crude oil
in the marketplace and increased land values and the number of new oil sands leases available. The impact of this level of activity on regional infrastructure, including pipelines, has placed stress
on the availability and cost of all resources required to build and run new and existing oil sands operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's Refining and Marketing businesses, management expects that fluctuations in demand for refined products, margin volatility and overall marketplace competitiveness will continue. In
addition, to the extent that our downstream business unit participates in new product markets, it could be exposed to margin risk and volatility from either cost and/or selling price fluctuations. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Land Claims</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>First Nations people have claimed Aboriginal title and rights to portions of Western Canada. In addition, First Nations people have filed claims against industry participants
relating in part to land claims, which may affect our business. At the present time, we are unable to assess the effect, if any, that these land claims may have on our&nbsp;business. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>DIVIDENDS</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor's Board of Directors has established a policy of paying dividends on a quarterly basis. We review our dividend policy from
time-to-time with regard to our financial position, financing requirements for growth, cash flow and other factors which our Board of Directors considers relevant. The
company's Board approved an increase in the quarterly dividend to $0.11 per share from $0.10 per share in the second quarter of 2011. Dividends are paid subject to applicable law, if, as and when
declared by the Board. The following table sets forth the amount of dividends we paid per common share to shareholders during the last three&nbsp;years. </FONT></P>

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</TR>
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<TD WIDTH="58%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="58%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
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<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Cash dividends per common share ($)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>67</B></FONT></P>

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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>DESCRIPTION OF CAPITAL STRUCTURE</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company's authorized share capital is comprised of an unlimited number of common shares, an unlimited number of preferred shares issuable in series
designated as senior preferred shares, and an unlimited number of preferred shares issuable in series designated as junior preferred shares. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
at December&nbsp;31, 2011, there were 1,558,636,368&nbsp;common shares issued and outstanding. To the knowledge of the Board of Directors and executive officers of Suncor, no person
beneficially owns, or exercises control or direction over, securities carrying 10% or more of the voting rights attached to any class of voting securities of the company. The holders of common shares
are entitled to attend all meetings of shareholders and vote at any such meeting on the basis of one vote for each common share held. As no senior preferred shares or junior preferred shares are
issued and outstanding, common shareholders are entitled to receive any dividend declared by the company's Board on the common shares and to participate in a distribution of the company's assets among
its shareholders for the purpose of winding up its affairs. The holders of the common shares shall be entitled to share equally, share for share, in all distributions of such&nbsp;assets. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Petro-Canada Public Participation Act</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The </FONT><FONT SIZE=2><I>Petro-Canada Public Participation Act</I></FONT><FONT SIZE=2> requires that the Articles of Suncor include certain restrictions on the ownership and
voting of voting shares of the company. The common shares of Suncor are voting shares. No person, together with associates of that person, may subscribe for, have transferred to that person, hold,
beneficially own or control otherwise than by way of security only, or vote in the aggregate, voting shares of Suncor to which are attached more than 20% of the votes attached to all outstanding
voting shares of Suncor. Additional restrictions include provisions for suspension of voting rights, forfeiture of dividends, prohibitions against share transfer, compulsory sale of shares, and
redemption and suspension of other shareholder rights. The company's Board may at any time require holders of, or subscribers for, voting shares, and certain other persons, to furnish statutory
declarations as to ownership of voting shares and certain other matters relevant to the enforcement of the restrictions. Suncor is prohibited from accepting any subscription for, and issuing or
registering a transfer of, any voting shares if a contravention of the individual ownership restrictions results. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
Articles, as required by the </FONT><FONT SIZE=2><I>Petro-Canada Public Participation Act</I></FONT><FONT SIZE=2>, also include provisions requiring Suncor to maintain its head office in
Calgary, Alberta; prohibiting Suncor from selling, transferring or otherwise disposing of all or substantially all of its assets in one transaction, or several related transactions, to any one person
or group of associated persons, or to non-residents, other than by way of security only in connection with the financing of Suncor; and requiring Suncor to ensure (and&nbsp;to adopt,
from time-to-time, policies describing the manner in which Suncor will fulfil the requirement to ensure) that any member of the public can, in either official language of
Canada (English or French), communicate with and obtain available services from Suncor's head office and any other facilities where Suncor determines there is significant demand for communication
with, and services from, that facility in that&nbsp;language. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Credit Ratings</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following information regarding the company's credit ratings is provided as it relates to the company's cost of funds and liquidity and indicates whether or not the
company's credit ratings have changed. In particular, the company's ability to access unsecured funding markets and to engage in certain collateralized business activities on a
cost-effective basis is primarily dependent upon maintaining competitive credit ratings. A lowering of the company's credit rating may also have potentially adverse consequences for the
company's funding capacity for growth projects or access to the capital markets, may affect the company's ability, and the cost, to enter into normal course derivative or hedging transactions and may
require the company to post additional collateral under certain contracts. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following table shows the ratings issued by the rating agencies noted therein as of December&nbsp;31, 2011. The credit ratings are not recommendations to purchase, hold or sell the debt
securities inasmuch as such ratings do not comment as to the market price or suitability for a particular investor. Any rating may not remain in effect for any given period of time or may be revised
or withdrawn entirely by a rating agency in the future if, in its judgment, circumstances so&nbsp;warrant. </FONT></P>

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<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Senior<BR>
Unsecured</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Outlook</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cdn$<BR>
Commercial<BR>
Paper</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>US$<BR>
Commercial<BR>
Paper</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="48%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
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<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Standard&nbsp;&amp; Poor's (S&amp;P)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>BBB+</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Stable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A-1 (low)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A-2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Dominion Bond Rating Service (DBRS)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A (low)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Stable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>R-1 (low)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Not rated</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Moody's Investors Service (Moody's)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Baa2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Positive</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Not rated</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>P-2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<P style="font-family:;"><FONT SIZE=2>S&amp;P credit ratings on long-term debt are on a rating scale that ranges from AAA to D, representing the range of such securities rated from highest to
lowest quality. A rating of BBB by S&amp;P is the fourth highest of 10&nbsp;categories and indicates that the obligor had adequate capacity to meet its financial commitments. However, adverse economic
conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation. The addition </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>68</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=73,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=699157,FOLIO='68',FILE='DISK124:[12ZAL1.12ZAL49101]DW49101A.;13',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_dw49101_1_69"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>of
a plus (+) or minus (-) designation after the rating indicates the relative standing within a particular rating category. S&amp;P credit ratings on commercial paper are on a
short-term debt rating scale that ranges from A-1 (High) to C, representing the range of such securities rated from highest to lowest quality. A rating of A-1 (low)&nbsp;by
S&amp;P is the third highest of seven categories, with a (low) designation after the rating indicating a slightly higher susceptibility to the adverse effects of changes in circumstances and economic
conditions, although the obligor's capacity to meet its financial commitment on the obligation is satisfactory. Obligations rated A-1 (low) on the Canadian commercial paper rating scale
qualify for a rating of A-2&nbsp;on the S&amp;P global short-term rating scale. A rating of A-2&nbsp;by S&amp;P means the obligor is somewhat more susceptible to the
adverse effects of changes in circumstances and economic conditions than the A-1&nbsp;rating, but the obligor's capacity to meet its financial commitment is satisfactory. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>DBRS
credit ratings on long-term debt are on a rating scale that ranges from AAA to D, representing the range of such securities rated from highest to lowest. A rating of A by DBRS is the
third highest of 10&nbsp;categories and is assigned to debt securities considered to be of good credit quality, with the capacity for the payment of financial obligations being substantial, but of a
lesser credit quality than an AA rating. Entities in the A category may be vulnerable to future events, but qualifying negative factors are considered manageable. All rating categories other than AAA
and D also contain designations for (high) and (low). The absence of either a (high) or (low) designation indicates the rating is in the middle of the category. The assignment of a (high) or (low)
designation within a rating category indicates relative standing within that category. DBRS's credit ratings on commercial paper are on a short-term debt rating scale that ranges from
R-1 (high) to D, representing the range of such securities rated from highest to lowest quality. A rating of R-1 (low) by DBRS is the third highest of 10&nbsp;categories and
is assigned to debt securities considered to be of good credit quality. The capacity for the payment of short-term financial obligations as they become due is substantial, with overall
strength not as favourable as higher rating categories. Entities in this category may be vulnerable to future events, but qualifying negative factors are considered manageable. Certain commercial
paper categories are further denoted by (high), (medium) and (low) designations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Moody's
credit ratings are on a long-term debt rating scale that ranges from AAA to C, which represents the range from highest to lowest quality of such securities rated. A rating of Baa
by Moody's is the fourth highest of nine categories. Obligations rated Baa are subject to moderate credit risk. They are considered medium grade and, as such, may possess certain speculative
characteristics. For certain ratings, Moody's appends numerical modifiers 1, 2 or 3 to each generic rating classification. The modifier 1&nbsp;indicates that the obligation ranks in the higher end
of its generic rating category; the modifier 2&nbsp;indicates a mid-range ranking; and the modifier 3&nbsp;indicates a ranking in the lower end of that generic rating category. A
rating of P-2&nbsp;by Moody's for commercial paper is the second highest of four rating categories and indicates a strong ability to repay short-term obligations. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>69</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=74,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=139709,FOLIO='69',FILE='DISK124:[12ZAL1.12ZAL49101]DW49101A.;13',USER='JDAY',CD='29-FEB-2012;16:33' -->
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_dy49101_1_70"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>MARKET FOR SECURITIES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our common shares are listed on the TSX in Canada, and on the NYSE in the U.S.&nbsp;The price ranges and the volumes traded on the TSX and NYSE for the year
ended December&nbsp;31, 2011, are as&nbsp;follows: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>TSX</B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Price Range (Cdn$)</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Trading Volume</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>High</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Low</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>January</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.73</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86&nbsp;963</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>February</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.27</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.64</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113&nbsp;291</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>March</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.09</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.91</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>114&nbsp;219</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>April</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.78</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.61</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78&nbsp;958</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>May</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.56</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97&nbsp;689</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>June</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88&nbsp;738</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>July</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.60</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64&nbsp;996</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>August</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.81</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.71</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>152&nbsp;854</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>September</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.56</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25.61</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>130&nbsp;795</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>October</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23.97</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>124&nbsp;137</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>November</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.75</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.07</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>110&nbsp;485</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>December</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.87</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.30</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98&nbsp;747</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>NYSE</B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Price Range (US$)</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Trading Volume</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>High</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Low</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(000's)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>January</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.67</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>137&nbsp;363</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>February</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.62</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.01</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>182&nbsp;199</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>March</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>48.53</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>179&nbsp;965</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>April</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46.84</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.93</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111&nbsp;993</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>May</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.76</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>158&nbsp;992</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>June</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.93</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>131&nbsp;743</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>July</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.88</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.96</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111&nbsp;901</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>August</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.69</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>220&nbsp;108</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>September</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.39</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>167&nbsp;997</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>October</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.55</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>176&nbsp;408</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>November</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.27</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.06</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>149&nbsp;786</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>December</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.30</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>120&nbsp;119</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<P style="font-family:;"><FONT SIZE=2>For information in respect of options to purchase common shares of Suncor and common shares issued upon the exercise of options and pursuant to our dividend
reinvestment plan in 2011, see the Share Capital note to the 2011 audited Consolidated Financial Statements, which is incorporated by reference into this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>70</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>DIRECTORS AND EXECUTIVE OFFICERS</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Directors</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following individuals are directors of Suncor. The term of each director is from the date of the meeting at which he or she is elected or appointed until the next annual
meeting of shareholders or until a successor is elected or&nbsp;appointed. Richard&nbsp;L. George and Brian MacNeill are not standing for re-election at Suncor's 2012 annual general meeting,
scheduled to be held on May&nbsp;1, 2012. </FONT></P>

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<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<TD WIDTH="23%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Suncor Directors<BR>
Name and Jurisdiction of Residence</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Period Served and<BR>
Independence</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Biography</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Mel E. Benson&nbsp;<SUP>(1)(2)</SUP><BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2000<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Mel Benson is president of Mel E. Benson Management Services&nbsp;Inc., an international management consulting firm based in Calgary, Alberta. In 2000, Mr.&nbsp;Benson retired from a major international oil company.
Mr.&nbsp;Benson is an owner of Tenex Energy&nbsp;Inc. and a director of Winalta&nbsp;Inc. and Fort McKay Group of Companies, a community trust. He is also a director of Hull Child and Family Services, a non-profit organization.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Dominic D`Alessandro&nbsp;<SUP>(3)(4)</SUP><BR>
Ontario, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Dominic D'Alessandro was president and chief executive officer of Manulife Financial Corporation from 1994 to 2009 and is currently a director of CGI Group&nbsp;Inc. and Canadian Imperial Bank of Commerce. For his many
business accomplishments, Mr.&nbsp;D'Alessandro was recognized as Canada's Most Respected CEO in 2004 and CEO of the Year in 2002, and was inducted into the Insurance Hall of Fame in 2008. Mr.&nbsp;D'Alessandro is an officer of the Order of Canada
and has been appointed as a Commendatore of the Order of the Star of Italy. In 2009, he received the Woodrow Wilson Award for Corporate Citizenship and in 2005 was granted the Horatio Alger Award for community leadership. Mr.&nbsp;D'Alessandro is an
FCA, and holds a Bachelor of Science from Concordia University in Montreal. He has also been awarded honorary doctorates from York University, the University of Ottawa, Ryerson University and Concordia University.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> John T. Ferguson<BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 1995<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>John Ferguson is founder and chairman of the board of Princeton Developments&nbsp;Ltd. and Princeton Ventures&nbsp;Ltd. Mr.&nbsp;Ferguson is also a director of Fountain Tire&nbsp;Ltd. and Strategy Summit&nbsp;Ltd. and
until March&nbsp;1, 2012 was a director of the Royal Bank of Canada. In addition, he is a member of the Order of Canada, a board member of the Alberta Bone and Joint Institute, an advisory member of the Canadian Institute for Advanced Research,
Honorary Colonel&nbsp;&#150;&nbsp;South Alberta Light Horse and chancellor emeritus and chairman emeritus of the University of Alberta. Mr.&nbsp;Ferguson is a fellow of the Alberta Institute of Chartered Accountants and of the Institute of Corporate
Directors.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> W. Douglas Ford&nbsp;<SUP>(1)(4)</SUP><BR>
Florida, USA</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2004<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>W. Douglas Ford was chief executive, refining and marketing for BP p.l.c. from 1998 to 2002 and was responsible for the refining, marketing and transportation network of BP as well as the aviation fuels business, the
marine business and BP shipping. Mr.&nbsp;Ford currently serves as a director of USG Corporation and Air Products and Chemicals&nbsp;Inc. He is also a member of the board of trustees of the University of Notre Dame.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Richard L. George<BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 1991<BR>
Non-independent, management</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Richard George is CEO of Suncor Energy&nbsp;Inc. He currently serves as a director of Canadian Pacific Railway and he chaired the 2008 Governor General's Canadian Leadership Conference. Mr.&nbsp;George was named a member
of the Order of Canada in 2007.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Paul Haseldonckx&nbsp;<SUP>(2)(3)</SUP><BR>
Essen, Germany</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
(Petro-Canada 2002 to July&nbsp;31, 2009)<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Paul Haseldonckx was a director of Petro-Canada and a member of the management board of Veba Oel AG, Germany's largest downstream company, including Aral AG gas stations in Europe. Mr.&nbsp;Haseldonckx represented Veba's
interests at the board of the Cerro Negro joint venture, an in situ oil sands development including an upgrader, during the construction and early production phase. Mr.&nbsp;Haseldonckx holds a Master of Science and completed Executive Programs at
INSEAD, Fontainebleau and IMD, Lausanne.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> John R. Huff&nbsp;<SUP>(1)(2)</SUP><BR>
Texas, USA</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 1998<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>John Huff is chairman of Oceaneering International&nbsp;Inc., an oilfield services company. He also serves as director of KBR&nbsp;Inc.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>71</B></FONT></P>

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<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Jacques Lamarre&nbsp;<SUP>(1)(2)</SUP><BR>
Quebec, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Jacques Lamarre is a strategic advisor to the law firm Heenan Blaikie&nbsp;LLP. He was the president and chief executive officer of SNC-Lavalin from 1996 to 2009. Mr.&nbsp;Lamarre is an Officer of the Order of Canada and
a founding member and past chair of the Commonwealth Business Council. He is also past chair of the board of directors of the Conference Board of Canada and a founding member of the World Economic Forum's Governors for Engineering&nbsp;&amp;
Construction. Currently, he serves as director of the Royal Bank of Canada, PPP&nbsp;Canada&nbsp;Inc. and the Canadian Institute for Advanced Research, and as a member of the Engineering Institute of Canada, Engineers Canada and the Ordre des
ing&eacute;nieurs du Qu&eacute;bec. Mr.&nbsp;Lamarre holds a Bachelor of Arts and a Bachelor of Arts and Science in Civil Engineering from Universit&eacute; Laval in Quebec City. He also completed Harvard University's Executive Development Program.
In addition, Mr.&nbsp;Lamarre holds honorary doctorates from the University of Waterloo, the University of Moncton and Universit&eacute;&nbsp;Laval.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Brian MacNeill&nbsp;<SUP>(3)(4)</SUP><BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
(Petro-Canada 1995 to July&nbsp;31, 2009)<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Brian MacNeill is a Chartered Accountant, a Certified Public Accountant and holds a Bachelor of Commerce. Previously, Mr.&nbsp;MacNeill was a director and chairman of the board of Petro-Canada. He is a director of West
Fraser Timber&nbsp;Co.&nbsp;Ltd., Capital Power Corp. and Oilsands Quest&nbsp;Inc. Mr.&nbsp;MacNeill is a member of the Canadian Institute of Chartered Accountants and the Financial Executives Institute. He is also a fellow of the Alberta Institute
of Chartered Accountants and of the Institute of Corporate Directors. Mr.&nbsp;MacNeill is also a member of the Order of Canada.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Maureen McCaw&nbsp;<SUP>(1)(2)</SUP><BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
(Petro-Canada 2004 to July&nbsp;31, 2009)<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Maureen McCaw was a director of Petro-Canada and is past president (Edmonton) of Leger Marketing, formerly Criterion Research Corp., a company she founded in 1986. Ms.&nbsp;McCaw holds a Bachelor of Arts from the
University of Alberta and an Institute of Corporate Directors certification (ICD.D). In addition to being president of Tinnakilly&nbsp;Inc. and a director of the Edmonton International Airport, Women Building Futures, Nature Conservancy of Canada,
Alberta chapter, and Royal Alexandra Hospital, she is also managing partner at Prism Ventures. She is a past chair of the Edmonton Chamber of Commerce and serves on a number of Alberta boards and advisory committees.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Michael W. O'Brien&nbsp;<SUP>(3)(4)</SUP><BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2002<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Michael O'Brien served as executive vice president, corporate development, and chief financial officer of Suncor Energy&nbsp;Inc. before retiring in 2002. Mr.&nbsp;O'Brien is lead director of Shaw Communications&nbsp;Inc.
In addition, he is past chair of the board of trustees for Nature Conservancy Canada, past chair of the Canadian Petroleum Products Institute and past chair of Canada's Voluntary Challenge for Global Climate Change.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> James Simpson&nbsp;<SUP>(1)(4)</SUP><BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2009<BR>
(Petro-Canada 2004 to July&nbsp;31, 2009)<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>James Simpson was a director of Petro-Canada and is past president of Chevron Canada Resources (oil&nbsp;and gas). He serves as lead director for Canadian Utilities Limited and is on its Corporate Governance, Nomination,
Compensation and Succession Committee and Risk Review Committee, as well as being the chairman for the Audit Committee. Mr.&nbsp;Simpson holds a Bachelor of Science and Master of Science, and graduated from the Program for Senior Executives at
M.I.T.'s Sloan School of Business. He is also past chairman of the Canadian Association of Petroleum Producers and past vice chairman of the Canadian Association of the World Petroleum Congresses.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Eira M. Thomas&nbsp;<SUP>(3)(4)</SUP><BR>
British Columbia, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since 2006<BR>
Independent</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Eira Thomas is a Canadian geologist with over twenty years of experience in the Canadian diamond business, including her previous roles as vice president of Aber Resources, now Harry Winston Diamond Corp., and as founder
and CEO of Stornoway Diamond Corp. Currently, Ms.&nbsp;Thomas is a director of Lucara Diamond Corp. and Strongbow Exploration&nbsp;Inc. She also serves on the board of the Prospectors and Developers Association of Canada.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>72</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Steven W. Williams<BR>
Alberta, Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Director since December&nbsp;2011<BR>
Non-independent, management</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Steve Williams has served as the chief operating officer of Suncor Energy&nbsp;Inc. since 2007. He was appointed as President of Suncor Energy&nbsp;Inc. in December of 2011. Mr.&nbsp;Williams is a fellow of the Institute
of Chemical Engineers and is a member of the Institute of Directors. He is also co-chair of the Oil Sands Leadership Initiative (OSLI), a member of the CEO Committee of Syncrude Canada Limited, and a member of the Business Advisory Council, School of
Business at the University of Alberta. In October of 2010, he was appointed to the Alberta Government Oil and Gas Economics Advisory Council.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Human
Resources and Compensation Committee
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Environment,
Health, Safety and Sustainable Development Committee
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Audit
Committee
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Governance
Committee </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Executive Officers</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following individuals are the executive officers of Suncor: </FONT></P>

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</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Name</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jurisdiction of Residence</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Office</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Richard L. George</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Chief Executive Officer</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Steven W. Williams</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>President and Chief Operating Officer</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Bart W. Demosky</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Chief Financial Officer</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Eric Axford</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Executive Vice President, Business Services</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Boris Jackman</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Ontario, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Executive Vice President, Refining and Marketing</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Mark Little</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Executive Vice President, Oil Sands and In Situ</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Mike MacSween</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Executive Vice President, Major Projects</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Steve Reynish</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Executive Vice President, Oil Sands Ventures</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Paul Gardner</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Senior Vice President, Human Resources</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Francois Langlois</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Senior Vice President, Exploration and Production</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Janice Odegaard</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Senior Vice President, General Counsel and Corporate Secretary</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1> Kris Smith</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Alberta, Canada</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="45%" style="font-family:;"><FONT SIZE=1>Senior Vice President, Supply, Trading and Corporate Development</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<P style="font-family:;"><FONT SIZE=2>As at December&nbsp;31, 2011, the directors and executive officers of Suncor as a group beneficially owned, or controlled or directed, directly or indirectly,
common shares of Suncor representing less than 1% of the then outstanding common&nbsp;shares. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>Cease Trade Orders, Bankruptcies, Penalties or Sanctions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>To the best of our knowledge, having made due inquiry, we confirm that, as at the date hereof, no director or executive officer of Suncor is or has been within the last ten
years a director, chief executive officer or chief financial officer of a company&nbsp;that: (a)&nbsp;was the subject of a cease trade or similar order, or an order that denied the relevant issuer
access to any exemption under Canadian securities legislation that was in effect for a period of more than 30&nbsp;consecutive days while the director or officer was acting in that capacity, other
than Mr.&nbsp;MacNeill, who is presently a director of Oilsands Quest&nbsp;Inc. (Oilsands Quest), a company that has been subject to a cease trade order of the NYSE Amex since November&nbsp;2011
for failure to meet certain NYSE Amex continued listing standards; or (b)&nbsp;was subject to a cease trade order or similar order, or an order that denied the relevant company access to any
exemption under securities legislation that was in effect for a period of more than 30&nbsp;consecutive days, that was issued after the director or executive officer ceased to be a director, chief
executive officer or chief financial officer and which resulted from an event that occurred while that person was acting in that&nbsp;capacity. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>73</B></FONT></P>

<HR NOSHADE>
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To the best of our knowledge, having made due inquiry, we confirm that, as at the date hereof, no director or executive officer of Suncor, or any of their respective personal holding companies, nor
any shareholders holding a sufficient number of securities to affect materially the control of&nbsp;Suncor: (a)&nbsp;is, or has been within the last ten years, a director or executive officer of
any company (including Suncor) that, while that person was acting in that capacity, or within a year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any
legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to
hold its assets, other&nbsp;than: (i)&nbsp;Mr.&nbsp;Ford, a director of Suncor who is currently a director of USG Corporation, which was in bankruptcy protection until June&nbsp;2006 and who
was also a director of United Airlines (until February&nbsp;2006), which was in Chapter&nbsp;11 bankruptcy protection until February&nbsp;2006;&nbsp;and (ii)&nbsp;Mr.&nbsp;MacNeill, a
director of Suncor who is currently a director of Oilsands Quest, which is currently operating under the protection of the </FONT><FONT SIZE=2><I>Canada Companies' Creditors Arrangement
Act</I></FONT><FONT SIZE=2>; or (b)&nbsp;has, within the last ten years, become bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or become subject to or instituted
any proceedings, arrangement or compromise with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of the director, executive officer or&nbsp;shareholder. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>No
director or executive officer of Suncor has been subject to: (a)&nbsp;any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority or
has entered into a settlement agreement with a securities regulatory authority;&nbsp;or (b)&nbsp;any other penalties or sanctions imposed by a court or regulatory body that would likely be
considered important to a reasonable investor in making an investment decision. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>AUDIT COMMITTEE INFORMATION</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>The Audit Committee Mandate is attached as Schedule&nbsp;"A" to&nbsp;this AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Composition of the Audit Committee</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Audit Committee is comprised of Mr.&nbsp;O'Brien (Chairman), Mr.&nbsp;D'Alessandro, Mr.&nbsp;MacNeill, Mr.&nbsp;Haseldonckx and Ms.&nbsp;Thomas. All members are
independent and financially literate. The education and expertise of each member is described in the Directors and Executive Officers section of this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
the purpose of making appointments to the company's Audit Committee, and in addition to the independence requirements, all directors nominated to the Audit Committee must meet the test of
financial literacy as determined in the judgment of the Board of Directors. Also, at least one director so nominated must meet the test of financial expert as determined in the judgment of the Board
of Directors. The designated financial experts on the Audit Committee are Mr.&nbsp;O'Brien and Mr.&nbsp;D'Alessandro. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Financial Literacy</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Financial literacy can be generally defined as the ability to read and understand a balance sheet, an income statement and a cash flow statement. In assessing a potential
appointee's level of financial literacy, the Board of Directors must evaluate the totality of the individual's education and experience, including: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the level of the person's accounting or financial education, including whether the person has earned an advanced degree in finance
or&nbsp;accounting;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>whether the person is a professional accountant, or the equivalent, in good standing, and the length of time that the person actively has
practiced as a professional accountant, or the&nbsp;equivalent;


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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>whether the person is certified or otherwise identified as having accounting or financial experience by a recognized private body that establishes
and administers standards in respect of such expertise, whether that person is in good standing with the recognized private body, and the length of time that the person has been actively certified or
identified as having this&nbsp;expertise;



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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>whether the person has served as a principal financial officer, controller or principal accounting officer of a corporation that, at the time the
person held such position, was required to file reports pursuant to securities laws and, if so, for how&nbsp;long;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the person's specific duties while serving as a public accountant, auditor, principal financial officer, controller, principal accounting officer
or position involving the performance of similar functions;


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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the person's level of familiarity and experience with all applicable laws and regulations regarding the preparation of financial statements that
must be included in reports filed under securities&nbsp;laws;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the level and amount of the person's direct experience reviewing, preparing, auditing or analyzing financial statements that must be included in
reports filed under provisions of securities&nbsp;laws; </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>74</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the person's past or current membership on one or more audit committees of companies that, at the time the person held such membership, were
required to file reports pursuant to provisions of securities&nbsp;laws;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the person's level of familiarity and experience with the use and analysis of financial statements of public companies;&nbsp;and



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>whether the person has any other relevant qualifications or experience that would assist him or her in understanding and evaluating the company's
financial statements and other financial information and to make knowledgeable and thorough inquiries whether the financial statements fairly present the financial condition, results of operations and
cash flows of the company in accordance with generally accepted accounting principles, or whether the financial statements and other financial information, taken together, fairly present the financial
condition, results of operations and cash flows of the&nbsp;company. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Audit Committee Financial Expert</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>An "Audit Committee Financial Expert" means a person who, in the judgment of the company's Board of Directors, has the following attributes: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>an
understanding of Canadian generally accepted accounting principles and financial statements;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
ability to assess the general application of such principles in connection with the accounting for estimates, accruals, and&nbsp;reserves;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>experience
preparing, auditing, or analyzing or evaluating financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to
the breadth and complexity of issues that can reasonably be expected to be raised by Suncor's financial statements, or experience actively supervising one or more persons engaged in such activities;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>an
understanding of internal controls and procedures for financial reporting;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>an
understanding of audit committee functions. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>A
person shall have acquired the attributes referred to in items&nbsp;(a) through&nbsp;(e) inclusive above&nbsp;through: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>education
and experience as a principal financial officer, principal accounting officer, controller, public accountant or auditor, or experience in one or more positions that involve
the performance of similar functions;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>experience
actively supervising a principal financial officer, principal accounting officer, controller, public accountant, auditor or person performing similar functions;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>experience
overseeing or assessing the performance of companies or public accountants with respect to the preparation, auditing or evaluation of financial statements;&nbsp;or
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>other
relevant experience. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Audit Committee Pre-Approval Policies for Non-Audit
Services</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our Audit Committee has considered whether the provision of services other than audit services is compatible with maintaining the auditors' independence and has a policy
governing the provision of these services. A copy of our policy relating to Audit Committee approval of fees paid to our auditors, in compliance with the </FONT><FONT SIZE=2><I>Sarbanes-Oxley Act of
2002</I></FONT><FONT SIZE=2> and applicable Canadian law, is attached as Schedule&nbsp;"B" to&nbsp;this&nbsp;AIF. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Fees Paid to Auditors</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Fees payable to PricewaterhouseCoopers&nbsp;LLP in 2011 and 2010, the nature of which are described below, were as&nbsp;follows: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($ thousands)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2011</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Audit Fees</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;145</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;873</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Audit-Related Fees</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>423</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>637</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Tax Fees</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>All Other Fees</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;627</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;514</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2>Audit Fees were paid for professional services rendered by the auditors for the audit of Suncor's annual financial statements, or services provided in connection
with statutory and regulatory filings or engagements. Audit-Related Fees were paid for professional services rendered by the auditors for the review of quarterly financial statements and for the
preparation of reports on specified procedures as they relate to joint venture audits and attest services not required by statute or regulation. Tax Fees for corporate tax filings and tax planning
were paid in a foreign jurisdiction where Suncor has limited activity. All Other Fees </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>75</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>were
subscriptions to auditor-provided and supported tools. The services described for Audit Fees, Audit-Related Fees and Tax Fees and All Other Fees were approved by the Audit Committee pursuant to
paragraph&nbsp;(c)(7)(i) of Rule&nbsp;2-01 of Regulation&nbsp;S-X. See Schedule&nbsp;"B" in this AIF for the company's Policy and Procedures for
Pre-Approval of Audit and Non-Audit Services. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>LEGAL PROCEEDINGS AND REGULATORY ACTIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are no legal proceedings to which we are or were a party, or of which any of our property is or was the subject since the beginning of the company's most
recently completed financial year, nor are there any proceedings known by us to be contemplated, that involve a claim for damages exceeding 10% of our current assets. In addition, there have not been
any (a)&nbsp;penalties or sanctions imposed against the company by a court relating to securities legislation or by a securities regulatory authority during our financial year, (b)&nbsp;penalties
or sanctions imposed by a court or regulatory body against the company that would likely be considered important to a reasonable investor in making an investment decision, or (c)&nbsp;settlement
agreements entered into by the company before a court relating to securities legislation or with a securities regulatory authority during the financial&nbsp;year. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>No director or executive officer, or any associate or affiliate of these persons has, or has had, any material interests, direct or indirect, in any transaction
or any proposed transaction that has materially affected or is reasonably expected to materially affect us or any of our affiliates within the three most recently completed financial years or during
the current financial&nbsp;year. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>TRANSFER AGENT AND REGISTRAR</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>The transfer agent and registrar for our common shares is Computershare Trust Company of Canada at its principal offices in Calgary, Alberta, Montreal, Quebec,
Toronto, Ontario and Vancouver, British Columbia and Computershare Trust Company&nbsp;Inc. in Denver, Colorado. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>MATERIAL CONTRACTS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During the year ended December&nbsp;31, 2011, we have not entered into any contracts, nor are there any contracts still in effect, that are material to our
business, other than contracts entered into in the ordinary course of business, and that are not required to be filed by Section&nbsp;12.2 of National Instrument&nbsp;51-102 </FONT> <FONT SIZE=2><I>Continuous Disclosure Obligations</I></FONT><FONT
SIZE=2>. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>INTERESTS OF EXPERTS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Reserves and resources estimates contained in this AIF are based in part upon reports prepared by GLJ and Sproule, Suncor's independent qualified reserves
evaluators. The 2011 audited Consolidated Financial Statements of the company have been audited by PricewaterhouseCoopers&nbsp;LLP, Suncor's auditors. As at the date hereof, none of the partners,
employees or consultants of GLJ or Sproule, respectively, as a group, through registered or beneficial interests, directly or indirectly, held or are entitled to receive more than 1% of any class of
our outstanding securities, including the securities of our associates and affiliates, and PricewaterhouseCoopers&nbsp;LLP has advised Suncor's Audit Committee that they are independent with respect
to Suncor within the meaning of the Rules of Professional Conduct of the Institute of Chartered Accountants of&nbsp;Alberta. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>DISCLOSURE PURSUANT TO THE REQUIREMENTS OF THE NEW YORK STOCK EXCHANGE</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As a Canadian issuer listed on the NYSE, we are not required to comply with most of the NYSE rules and listing standards and instead may comply with domestic
requirements. As a foreign private issuer, we are only required to comply with four of the NYSE rules: (i)&nbsp;have an audit committee that satisfies the requirements of the United&nbsp;States </FONT> <FONT SIZE=2><I>Securities Exchange Act of
1934</I></FONT><FONT SIZE=2>, as amended; (ii)&nbsp;the Chief Executive Officer must promptly notify the NYSE in writing after an executive officer
becomes aware of any material non-compliance with the applicable NYSE rules; (iii)&nbsp;provide a brief description of any significant differences between our corporate governance
practices and those followed by U.S.&nbsp;companies listed under the NYSE; and (iv)&nbsp;provide annual and, as required, written affirmations of compliance with applicable NYSE Corporate
Governance rules. The company has disclosed in its 2012 management proxy circular, which is available on our website at www.suncor.com, that, in certain instances, it is not required to obtain
shareholder approval for material amendments to equity compensation plans and that </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>76</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>Suncor,
while in compliance with the independence requirements of applicable securities laws in Canada (specifically National Instrument&nbsp;52-110 </FONT><FONT SIZE=2><I>Audit
Committees</I></FONT><FONT SIZE=2>) and the U.S.&nbsp;(specifically Rule&nbsp;10A-3 of the </FONT><FONT SIZE=2><I>Securities Exchange Act of 1934</I></FONT><FONT SIZE=2>), it has not
adopted the director independence standards contained in Section&nbsp;303A.02 of the NYSE's Listed Company Manual. Except as described herein, the company is in compliance with the NYSE corporate
governance standards in all other significant respects. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADDITIONAL INFORMATION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Additional information, including directors' and officers' remuneration and indebtedness, principal holders of our securities, securities authorized for issuance
under equity compensation plans and interests of insiders in material transactions, where applicable, is contained in our most recent management proxy circular for our most recent annual meeting of
our shareholders that involved the election of directors. Additional financial information is provided in our 2011 audited Consolidated Financial Statements for our most recently completed financial
year and in the&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Further
information about Suncor, filed with Canadian securities commissions and the SEC, including periodic quarterly and annual reports and the AIF/40-F is available online on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov. In addition, our Standards of Business Conduct Code is available online at www.suncor.com. Information contained in or otherwise accessible through our
website does not form part of this AIF, and is not incorporated into the AIF by&nbsp;reference. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>ADVISORY&nbsp;&#150;&nbsp;FORWARD-LOOKING INFORMATION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>This AIF contains certain forward-looking statements and other information based on information available at the time the statement was
made and in light of Suncor's experience and perception of historical trends, including expectations and assumptions concerning the accuracy of reserves and resources estimates, commodity prices and
interest and foreign exchange rates, capital efficiencies and cost-savings, applicable royalty rates and tax laws, future production rates, the sufficiency of budgeted capital expenditures
in carrying out planned activities, the availability and cost of labour and services, and the receipt, in a timely manner, of regulatory and third-party approvals. In addition, all other statements
that address expectations or projections about the future, and other statements and information about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity
prices, costs, schedules, production volumes, operating and financial results, future financing and capital activities, and expected impact of future commitments are forward-looking statements. Some
of the forward-looking statements and information may be identified by words like "expects", "anticipates", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could",
"focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue" and similar expressions.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Forward-looking statements in this AIF include references to:  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Suncor's expectations about production volumes and the performance of its existing assets, including:</I></FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The TRO<SUB>TM</SUB> process is expected to significantly reduce the area required for tailings management, increase the
speed at which Suncor is able to reclaim its tailings ponds, enable Suncor to meet the requirements of the Tailings Directive issued by the ERCB in 2009, eliminate the need for new tailings ponds at
existing mining operations, improve tailings management going forward and, in the years ahead, reduce the number of tailings ponds presently in operation;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Gross design capacities for Suncor's operated and non-operated facilities;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's plans to develop its proved undeveloped reserves and its probable undeveloped reserves;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Production estimates for 2012; and</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectation that, as production from the Firebag Stage&nbsp;3 expansion increases, the Firebag SOR will
decrease.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>The anticipated duration and impact of planned maintenance events, including:  </I></FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Remaining H<SUB>2</SUB>S remediation for Terra Nova that is anticipated to be completed concurrent with the dockside
maintenance program, which includes the replacement of the FPSO swivel, scheduled to commence in the third quarter of&nbsp;2012; and</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The 18-week off-station maintenance program for the White Rose FPSO scheduled to commence in the second quarter of 2012,
primarily to address issues with the FPSO propulsion system.</I></FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>77</B></FONT></P>

<HR NOSHADE>
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 </B></FONT><FONT SIZE=2><I>Suncor's expectations about where future capital expenditures will be directed, the timing for completion of growth and other significant projects, and the results of such
projects, including:</I></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's ten-year growth strategy to increase production to over one million boe/d by 2020, which is expected
to include arrangements with respective joint venture owners for the development of the Fort Hills and Joslyn oil sands mining projects and the restart of construction of the Voyageur upgrader, the
continued development of the company's Firebag and MacKay River in situ operations, and investments in and ongoing production from international and offshore operations;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations that the Voyageur South and Audet leases can be developed using mining techniques, and that the
Meadow Creek, Lewis, Chard and Kirby leases can be developed using in situ techniques;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's plans for the Firebag Stage&nbsp;4 expansion, scheduled to be completed in 2013, which include two well pads, a
central processing facility and two cogeneration units;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The design capacities for the Firebag Stage&nbsp;3 and Stage&nbsp;4 expansions are 62,500&nbsp;bbls/d of bitumen
each;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectation that the commissioning of the cogeneration units for Firebag Stage&nbsp;3 will be completed in the
first quarter of&nbsp;2012;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's integrated plans for the entire Firebag operation, such that steam and electricity generated by any of the central
processing facilities and cogeneration units can be used to power operations at any of the well pads, and that bitumen extracted from any well pad can be processed at any of the central processing
facilities;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Plans for centrifuge technology at Syncrude that separates water from&nbsp;tailings;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Preliminary designs for Fort Hills plan for 164,000&nbsp;bbls/d of bitumen production (gross) and for Joslyn North plan
for 100,000&nbsp;bbls/d of bitumen production (gross);</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations that bitumen production from the Fort Hills and Joslyn mines will be upgraded into SCO and other
products by the Voyageur upgrader, and preliminary design plans for 200,000&nbsp;bbls/d (gross) of upgrading capacity for the Voyageur upgrader;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Development plans for the HSEU, which include drilling up to two additional producing wells and five water injection wells
in a subsea glory&nbsp;hole;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>A water injection well to support initial production from the West White Rose Extension that is expected be completed in
the second quarter of&nbsp;2012;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The plans of the joint venture owners of Hebron to make a decision to sanction the project in late 2012, and the company's
expectations that initial production will occur in late&nbsp;2017;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Plans for Hebron that include a concrete GBS, integrated topsides deck, 1.2&nbsp;mmbbls of oil storage capacity, and
52&nbsp;well slots, with a gross oil production capacity of 150,000&nbsp;bbls/d;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Development plans for Golden Eagle, which include an initial gross production rate of 70,000&nbsp;boe/d from
20&nbsp;development wells, development cost of &pound;2&nbsp;billion (Cdn$3.3&nbsp;billion) and the company's expectations that first production will occur late in 2014 or
early&nbsp;2015;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Plans for the drilling of the third appraisal well for the Beta discovery, which is scheduled to commence in the second
quarter of 2012;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Plans to drill an exploration well in the Romeo prospect; and</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's future development costs and expected development activities identified in the Statement of Reserves Data and
Other Oil and Gas Information section of this AIF.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>78</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_ec49101_1_79"> </A>

<P style="font-family:;"><FONT SIZE=2><I>Also:  </I></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Anticipated abandonment and reclamation costs;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Anticipated royalty and tax rates and the impact of these rates on Suncor;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that the cost of meeting new environmental and climate change regulations will not be so high as to
cause material disadvantage to the company or material damage to its competitive positioning, and that GHG regulation will evolve with a moderate carbon price&nbsp;signal, and that the price regime
will progress cautiously;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that it will continue to engage the appropriate governmental bodies in meaningful dialogue in an
effort to develop a harmonized system for GHG emissions regulations that focuses on achieving actual reduction goals and sustainable resource development;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's belief that it will have sufficient funds available to fund its planned expenditures
for&nbsp;2012;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's belief that existing cash balances, internally generated cash flows and existing credit facilities are sufficient
to fund future development activities;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's estimates for its compliance costs for GHG regulations in Alberta will be between $10&nbsp;million and
$15&nbsp;million;&nbsp;and</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Limitations on the interim BVM, as recently enacted.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas
companies and some that are unique to Suncor. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place
undue reliance on&nbsp;them.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>The financial and operating performance of the company's reportable operating segments, specifically Oil Sands, Exploration and Production, and Refining and Marketing, may be
affected by a number of&nbsp;factors:</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Oil Sands segment include, but are not limited to, volatility in the prices for crude oil and other production, and the related impacts of fluctuating
light/heavy and sweet/sour crude oil differentials; changes in the demand for refinery feedstock and diesel fuel, including the possibility that refiners that process our proprietary production will
be closed, experience equipment failure or other accidents; our ability to operate facilities reliably in order to meet production targets; the output of newly commissioned facilities, the performance
of which may be difficult to predict during initial operations; the possibility that completed maintenance activities may not improve operational performance or the output of related facilities; our
dependence on pipeline capacity and other logistical constraints, which may affect our ability to distribute our products to market; our ability to finance growth and sustaining capital expenditures;
the availability of bitumen feedstock for upgrading operations, which can be negatively affected by poor ore grade quality, unplanned mine equipment and extraction plant maintenance, tailings storage,
in situ reservoir and equipment performance, or the unavailability of third-party bitumen; inflationary pressures on operating costs, including
labour, natural gas and other energy sources in oil sands processes; our ability to complete projects, including planned maintenance events, both on time and on budget, which could be impacted by
competition from other projects (including other oil sands projects) for goods and services and demands on infrastructure in Fort McMurray and the surrounding area (including housing, roads and
schools); risks and uncertainties associated with obtaining regulatory and stakeholder approval for exploration and development activities; changes to royalty and tax legislation and related
agreements that could impact our business, such as our current dispute with the Alberta Department of Energy in respect of the Bitumen Valuation Methodology Regulation; the potential for disruptions
to operations and construction projects as a result of our relationships with labour unions that represent employees at our facilities; and changes to environmental regulations
or&nbsp;legislation.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Exploration and Production segment include, but are not limited to, volatility in crude oil and natural gas prices; operational risks and uncertainties
associated with oil and gas activities, including unexpected formations or pressures, premature declines of reservoirs, fires, blow-outs, equipment failures and other accidents,
uncontrollable flows of crude oil, natural gas or well fluids, and pollution and other environmental risks; the possibility that completed maintenance activities may not improve operational
performance or the output of related facilities; adverse weather conditions, which could disrupt output from producing assets or impact drilling programs, resulting in increased costs and/or delays in
bringing on new production; political, economic and socio-economic risks associated with Suncor's foreign operations, including the unpredictability of operating in Libya and the possibility that
operations in Syria may be constrained by civil and political unrest; risks and uncertainties associated with obtaining regulatory and stakeholder approval for exploration and development activities;
the potential for disruptions to operations and construction projects as a result of our relationships with labour unions that represent employees at our facilities; and market demand for mineral
rights and producing properties, potentially leading to losses on disposition or increased property acquisition costs.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Refining and Marketing segment include, but are not limited to, fluctuations in demand and supply for refined products that impact the company's margins;
market competition, including potential new market entrants; our ability to reliably operate refining and marketing facilities in order to meet production or sales targets; the possibility that
completed  </I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>79</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_ec49101_1_80"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2><I> maintenance activities may not improve operational performance or the output of related facilities; risks and uncertainties affecting construction or planned maintenance schedules, including the
availability of labour and other impacts of competing projects drawing on the same resources during the same time period; and the potential for disruptions to operations and construction projects as a
result of our relationships with labour unions or employee associations that represent employees at our refineries and distribution facilities.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Additional risks, uncertainties and other factors that could influence financial and operating performance of all of Suncor's operating segments and activities include, but are
not limited to, changes in general economic, market and business conditions, such as commodity prices, interest rates and currency exchange rates; fluctuations in supply and demand for Suncor's
products; the successful and timely implementation of capital projects, including growth projects and regulatory projects; competitive actions of other companies, including increased competition from
other oil and gas companies or from companies that provide alternative sources of energy; labour and material shortages; actions by government authorities, including the imposition of taxes or changes
to fees and royalties, and changes in environmental and other regulations; the ability and willingness of parties with whom we have material relationships to perform their obligations to us; the
occurrence of unexpected events such as fires, equipment failures and other similar events affecting Suncor or other parties whose operations or assets directly or indirectly affect Suncor; the
potential for security breaches of Suncor's information systems by computer hackers or cyberterrorists, and the unavailability or failure of such systems to perform as anticipated as a result of such
breaches; our ability to find new oil and gas reserves that can be developed economically; the accuracy of Suncor's reserves, resources and future production estimates; market instability affecting
Suncor's ability to borrow in the capital debt markets at acceptable rates; maintaining an optimal debt to cash flow ratio; the success of the company's risk management activities using derivatives
and other financial instruments; the cost of compliance with current and future environmental laws; risks and uncertainties associated with closing a transaction for the purchase or sale of an oil and
gas property, including estimates of the final consideration to be paid or received, the ability of counterparties to comply with their obligations in a timely manner and the receipt of any
required regulatory or other third-party approvals outside of Suncor's control that are customary to transactions of this nature; the accuracy of cost estimates, some of which are provided at the
conceptual or other preliminary stage of projects and prior to commencement or conception of the detailed engineering that is needed to reduce the margin of error and increase the level of accuracy;
failure to realize anticipated synergies or cost-savings; risks regarding the integration of Suncor and Petro-Canada after the merger; and incorrect assessments of the values of assets
acquired and liabilities assumed in the merger with Petro-Canada. The foregoing important factors are not&nbsp;exhaustive.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Many of these risk factors and other assumptions related to Suncor's forward-looking statements and information are discussed in further detail throughout this AIF and in our
MD&amp;A. Readers are also referred to the risk factors and assumptions described in other documents that Suncor files from time-to-time with securities regulatory authorities.
Copies of these documents are available without charge from Suncor at 150&nbsp;&#150;&nbsp;6th&nbsp;Avenue S.W., Calgary, Alberta, T2P&nbsp;3E3, by calling
1-800-558-9071, or by email request to info@suncor.com or by referring to SEDAR at www.sedar.com or by referring to EDGAR at www.sec.gov. Information contained in
or otherwise accessible through our website does not form&nbsp;a part of this AIF, and is not incorporated into this AIF by&nbsp;reference.</I></FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>80</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=85,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=536288,FOLIO='80',FILE='DISK124:[12ZAL1.12ZAL49101]EC49101A.;18',USER='JDAY',CD='29-FEB-2012;16:33' -->
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_gg49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULE "A"<BR>
<BR>
AUDIT COMMITTEE MANDATE</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>The Audit Committee</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The bylaws of Suncor Energy&nbsp;Inc. provide that the Board of Directors may establish Board committees to whom certain duties may be delegated by the Board. The Board has
established, among others, the Audit Committee, and has approved this mandate, which sets out the objectives, functions and responsibilities of the Audit Committee. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Objectives</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Audit Committee assists the Board of Directors by: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Monitoring the effectiveness and integrity of the Corporation's financial reporting systems, management information systems and internal control
systems, and by monitoring financial reports and other financial matters.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Selecting, monitoring and reviewing the independence and effectiveness of, and where appropriate replacing, subject to shareholder approval as
required by law, external auditors, and ensuring that external auditors are ultimately accountable to the Board of Directors and to the shareholders of the Corporation.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Reviewing the effectiveness of the internal auditors, excluding the Operations Integrity Audit department, which is specifically within the
mandate of the Environment, Health&nbsp;and Safety Committee (references throughout this mandate to "Internal Audit" shall not include the Operations Integrity Audit department);&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Approving on behalf of the Board of Directors certain financial matters as delegated by the Board, including the matters outlined in
this&nbsp;mandate. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
Committee does not have decision-making authority, except in the very limited circumstances described herein or where and to the extent that such authority is expressly delegated by the Board of
Directors. The Committee conveys its findings and recommendations to the Board of Directors for consideration and, where required, decision by the Board of&nbsp;Directors. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Constitution</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Terms of Reference of Suncor's Board of Directors set out requirements for the composition of Board Committees and the qualifications for committee membership, and specify
that the Chair and membership of the committees are determined annually by the Board. As required by Suncor's bylaws, unless otherwise determined by resolution of the Board of Directors, a majority of
the members of a committee constitute a quorum for meetings of committees, and, in all other respects, each committee determines its own rules of&nbsp;procedure. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Functions and Responsibilities</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Audit Committee has the following functions and responsibilities: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Internal Controls</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Inquire
as to the adequacy of the Corporation's system of internal controls, and review the evaluation of internal controls by Internal Auditors, and the evaluation of financial and
internal controls by external auditors.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
management's monitoring of compliance with the Corporation's Standards of Business Conduct&nbsp;Code.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Establish
procedures for the confidential submission by employees of complaints relating to any concerns with accounting, internal control, auditing or Standards of Business Conduct
Code matters, and periodically review a summary of complaints and their related resolution.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the findings of any significant examination by regulatory agencies concerning the Corporation's financial matters.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Periodically
review management's governance processes for information technology resources, to assess their effectiveness in addressing the integrity, the protection and the security
of the Corporation's electronic information systems and&nbsp;records.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>6.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the management practices overseeing officers' expenses and perquisites. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>External and Internal Auditors</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>7.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Evaluate
the performance of the external auditors and initiate and approve the engagement or termination of the external auditors, subject to shareholder approval as required by
applicable&nbsp;law. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>A-1</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_gg49101_1_2"> </A>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>8.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the audit scope and approach of the external auditors, and approve their terms of engagement and&nbsp;fees.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>9.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
any relationships or services that may impact the objectivity and independence of the external auditor, including annual review of the auditor's written statement of all
relationships between the auditor (including its affiliates) and the Corporation; review and approve all engagements for non-audit services to be provided by external auditors or their
affiliates.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>10.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the external auditor's quality control procedures including any material issues raised by the most recent quality control review or peer review and any issues raised by a
government authority or professional authority investigation of the external auditor, providing details on actions taken by the firm to address such&nbsp;issues.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>11.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
and approve the appointment or termination of the Head of Internal Audit, annually review a summary of the remuneration of the Head of Internal Audit, and periodically review
the performance and effectiveness of the Internal Audit function including compliance with The Institute of Internal Auditors' International Professional Practices Framework for Internal Auditing.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>12.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the Internal Audit Department Charter, and the plans, activities, organizational structure and qualifications of the Internal Auditors, and monitor the department's
independence.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>13.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Provide
an open avenue of communication between management, the Internal Auditors or the external auditors, and the Board of&nbsp;Directors. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Financial Reporting and other Public Disclosure</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>14.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the external auditor's management comment letter and management's responses thereto, and inquire as to any disagreements between management and external auditors or
restrictions imposed by management on external auditors. Review any unadjusted differences brought to the attention of management by the external auditor and the resolution thereof.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>15.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
with management and the external auditors the financial materials and other disclosure documents referred to in paragraph&nbsp;16, including any significant financial
reporting issues, the presentation and impact of significant risks and uncertainties, and key estimates and judgments of management that may be material to financial reporting, including alternative
treatments and their&nbsp;impacts.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>16.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
and approve the Corporation's interim Consolidated Financial Statements and accompanying management's discussion and analysis (MD&amp;A). Review and make recommendations to the
Board of Directors on approval of the Corporation's annual audited Consolidated Financial Statements and MD&amp;A, Annual Information Form and Form&nbsp;40-F. Review other material annual
and quarterly disclosure documents or regulatory filings containing or accompanying audited or unaudited financial information.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>17.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Authorize
any changes to the categories of documents and information requiring audit committee review or approval prior to external disclosure, as set out in the Corporation's policy
on external communication and disclosure of material information.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>18.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
any change in the Corporation's accounting policies.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>19.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
with legal counsel any legal matters having a significant impact on the financial reports. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil and Gas Reserves</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>20.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
with reasonable frequency Suncor's procedures for:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(A)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
disclosure, in accordance with applicable law, of information with respect to Suncor's oil and gas activities, including procedures for complying with applicable disclosure
requirements;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(B)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>providing
information to the qualified reserves evaluators (the&nbsp;Evaluators) engaged annually by Suncor to evaluate Suncor's reserves data for the purpose of public disclosure
of such data in accordance with applicable&nbsp;law.
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>21.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Annually
approve the appointment and terms of engagement of the Evaluators, including the qualifications and independence of the Evaluators; review and approve any proposed change in
the appointment of the Evaluators, and the reasons for such proposed change, including whether there have been disputes between the Evaluators and&nbsp;management.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>22.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Annually
review Suncor's reserves data and the report of the Evaluators thereon, and annually review and make recommendations to the Board of Directors on the approval&nbsp;of:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
content and filing by the company of a statement of reserves data (the&nbsp;Statement) and the report thereon of management and the directors to be included in or filed with the
Statement,&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
filing of the report of the Evaluators to be included in or filed with the Statement, all in accordance with applicable&nbsp;law. </FONT></DD></DL>
</DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>A-2</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=87,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=386573,FOLIO='A-2',FILE='DISK124:[12ZAL1.12ZAL49101]GG49101A.;5',USER='JDAY',CD='29-FEB-2012;16:33' -->
<A NAME="page_gg49101_1_3"> </A>
<UL>
<UL>
</UL>
</UL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Risk Management</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>23.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Periodically
review the policies and practices of the Corporation respecting cash management, financial derivatives, financing, credit, insurance, taxation, commodities trading and
related matters. Oversee the Board's risk management governance model by conducting periodic reviews with the objective of appropriately reflecting the principal risks of the Corporation's business in
the mandate of the Board and its&nbsp;committees. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Pension Plan</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>24.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
the assets, financial performance, funding status, investment strategy and actuarial reports of the Corporation's pension plan including the terms of engagement of the plan's
actuary and fund&nbsp;manager. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Security</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>25.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
on a summary basis any significant physical security management, information technology, security or business recovery risks and strategies to address such&nbsp;risks. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Other Matters</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>26.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Conduct
any independent investigations into any matters which come under its scope of responsibilities.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>27.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
any recommended appointees to the office of Chief Financial Officer.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>28.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
and/or approve other financial matters delegated specifically to it by the Board of&nbsp;Directors. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reporting to the Board</B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>29.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Report
to the Board of Directors on the activities of the Audit Committee with respect to the foregoing matters as required at each Board meeting and at any other time deemed
appropriate by the Committee or upon request of the Board of&nbsp;Directors. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B><I>


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</I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Approved by resolution of the Board of Directors on
February&nbsp;1,&nbsp;2011.</I></B></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>A-3</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_gi49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULE "B"<BR>
<BR>
SUNCOR ENERGY&nbsp;INC.<BR>
POLICY AND PROCEDURES FOR PRE-APPROVAL<BR>
OF AUDIT AND NON-AUDIT SERVICES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Pursuant to the Sarbanes-Oxley Act of 2002 and Multilateral Instrument&nbsp;52-110, the Securities and Exchange Commission (SEC) and the Ontario
Securities Commission respectively have adopted final rules relating to audit committees and auditor independence. These rules require the Audit Committee of Suncor Energy Inc ("Suncor") to be
responsible for the appointment, compensation, retention and oversight of the work of its independent auditor. The Audit Committee must also pre-approve any audit and non-audit
services performed by the independent auditor or such services must be entered into pursuant to pre-approval policies and procedures established by the Audit Committee pursuant to
this&nbsp;policy. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STATEMENT OF POLICY</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Audit Committee has adopted this Policy and Procedures for Pre-Approval of Audit and Non-Audit Services (the&nbsp;Policy), which sets forth the
procedures and the conditions pursuant to which services proposed to be performed by the independent auditor will be pre-approved. The procedures outlined in this Policy are applicable to
all Audit, Audit-Related, Tax Services and All Other Services provided by the independent auditor. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESPONSIBILITY</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Responsibility for the implementation of this Policy rests with the Audit Committee. The Audit Committee delegates its responsibility for administration of this policy to
management. The Audit Committee shall not delegate its responsibilities to pre-approve services performed by the independent auditor to&nbsp;management. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>III.&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>For the purpose of these policies and procedures and any pre-approvals: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Audit
Services include services that are a necessary part of the annual audit process and any activity that is a necessary procedure used by the auditor in reaching an opinion on the
financial statements as is required under generally accepted auditing standards (GAAS), including technical reviews to reach audit judgment on accounting standards. The term Audit Services is broader
than those services strictly required to perform an audit pursuant to GAAS and include such services&nbsp;as:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
issuance of comfort letters and consents in connections with offerings of&nbsp;securities;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
performance of domestic and foreign statutory audits;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Attest
services required by statute or regulation;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Internal
control reviews; and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Assistance
with and review of documents filed with the Canadian Securities Administrators, the SEC and other regulators having jurisdiction over Suncor and its subsidiaries, and
responding to comments from such regulators;
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Audit-Related
Services are assurance (e.g.&nbsp;due diligence services) and related services traditionally performed by the external auditors, which are reasonably related to the
performance of the audit or review of financial statements and not categorized under Audit Services for disclosure purposes. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Audit-Related
Services include: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Employee
benefit plan audits, including audits of employee pension plans;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Due
diligence related to mergers and acquisitions;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Consultations
and audits in connection with acquisitions, including evaluating the accounting treatment for proposed transactions;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(iv)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Internal
control reviews;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(v)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Attest
services not required by statute or regulation; and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(vi)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Consultations
regarding financial accounting and reporting standards. </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Non-financial
operational audits are not Audit-Related Services. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Tax
Services include, but are not limited to, services related to the preparation of corporate and/or personal tax filings, tax due diligence as it pertains to mergers, acquisitions
and/or divestitures, and tax planning;&nbsp;and </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>B-1</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_gi49101_1_2"> </A>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>All
Other Services consist of any other work that is neither an Audit Service, nor an Audit-Related Service nor a Tax Service, the provision of which by the independent auditor is not
expressly prohibited by Rule&nbsp;2-01(c)(7) of Regulation&nbsp;S-X under the Securities and Exchange Act of 1934, as amended. (See&nbsp;Appendix&nbsp;A for a summary
of the prohibited services.) </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>IV.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL POLICY</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following general policy applies to all services provided by the independent auditor. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>All services to be provided by the independent auditor will require specific pre-approval by the Audit Committee. The Audit Committee
will not approve engaging the independent auditor for services that can reasonably be classified as Tax Services or All Other Services unless a compelling business case can be made for retaining the
independent auditor instead of another service provider.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee will not provide pre-approval for services to be provided in excess of twelve months from the date of the
pre-approval, unless the Audit Committee specifically provides for a different period.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee has delegated authority to pre-approve services with an estimated cost not exceeding $100,000 in accordance with
this Policy to the Chairman of the Audit Committee. The delegate member of the Audit Committee must report any pre-approval decision to the Audit Committee at its next&nbsp;meeting.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Chairman of the Audit Committee may delegate his authority to pre-approve services to another sitting member of the Audit
Committee provided that the recipient has also been delegated the authority to act as Chairman of the Audit Committee in the Chairman's absence. A resolution of the Audit Committee is required to
evidence the Chairman's delegation of authority to another Audit Committee member under this&nbsp;policy.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee will, from time to time, but no less than annually, review and pre-approve the services that may be provided by
the independent auditor.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee must establish pre-approval fee levels for services provided by the independent auditor on an annual basis. On at
least a quarterly basis, the Audit Committee will be provided with a detailed summary of fees paid to the independent auditor and the nature of the services provided, and a forecast of fees and
services that are expected to be provided during the remainder of the fiscal&nbsp;year.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee will not approve engaging the independent auditor to provide any prohibited non-audit services as set forth in
Appendix&nbsp;A.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee shall evidence their pre-approval for services to be provided by the independent auditor as&nbsp;follows:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In
situations where the Chairman of the Audit Committee pre-approves work under his delegation of authority, the Chairman will evidence his pre-approval by
signing and dating the pre-approval request form, attached as Appendix&nbsp;B. If it is not practicable for the Chairman to complete the form and transmit it to the Company prior to
engagement of the independent audit, the Chairman may provide verbal or email approval of the engagement, followed up by completion of the request form at the first practical opportunity.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In
all other situations, a resolution of the Audit Committee is required.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>All audit and non-audit services to be provided by the independent auditors shall be provided pursuant to an engagement letter
that&nbsp;shall:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Be
in writing and signed by the auditors;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Specify
the particular services to be provided;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Specify
the period in which the services will be performed;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Specify
the estimated total fees to be paid, which shall not exceed the estimated total fees approved by the Audit Committee pursuant to these procedures, prior to application of the
10% overrun;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Include
a confirmation by the auditors that the services are not within a category of services the provision of which would impair their independence under applicable law and Canadian
and U.S.&nbsp;generally accepted accounting standards.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Audit Committee pre-approval permits an overrun of fees pertaining to a particular engagement of no greater than 10% of the
estimate identified in the associated engagement letter. The intent of the overrun authorization is to ensure on an interim basis only, that services can continue pending a review of the fee estimate,
and, if required, further Audit Committee approval of the overrun. If an overrun is expected to exceed the 10% threshold, as soon as the overrun is identified, the Audit Committee or its designate
must be notified and an additional pre-approval must be obtained prior to the engagement continuing. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>B-2</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESPONSIBILITIES OF EXTERNAL AUDITORS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>To support the independence process, the independent auditors will: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Confirm
in each engagement letter that performance of the work will not impair independence;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Satisfy
the Audit Committee that they have in place comprehensive internal policies and processes to ensure adherence, worldwide, to independence requirements, including robust
monitoring and communications;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Provide
communication and confirmation to the Audit Committee regarding independence on at least a quarterly basis;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Maintain
registration by the Canadian Public Accountability Board and the U.S.&nbsp;Public Company Accounting Oversight Board;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(e)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Review
their partner rotation plan and advise the Audit Committee on an annual&nbsp;basis. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>In
addition, the external auditors will: </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(f)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Provide
regular, detailed fee reporting including balances in the work in progress account;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(g)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Monitor
fees and notify the Audit Committee as soon as a potential overrun is&nbsp;identified. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>VI.&nbsp;&nbsp;&nbsp;DISCLOSURES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor will, as required by applicable law, annually disclose its pre-approval policies and procedures, and will provide the required disclosure concerning the
amounts of audit fees, audit-related fees, tax fees and all other fees paid to its outside auditors in its filings with the&nbsp;SEC. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Approved and Accepted April&nbsp;28, 2004.</I></B></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>B-3</B></FONT></P>

<HR NOSHADE>
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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Appendix&nbsp;A<BR>
<BR>
Prohibited Non-Audit Services</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>An external auditor is not independent if, at any point during the audit and professional engagement period, the auditor provides the following
non-audit services to an audit&nbsp;client. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Bookkeeping or other services related to the accounting records or financial statements of the audit&nbsp;client.</I></FONT><FONT SIZE=2> Any service, unless it is reasonable
to conclude that the results of these services will not be subject to audit procedures during an audit of Suncor's financial statements, including: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Maintaining or preparing the audit client's accounting records;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Preparing Suncor's financial statements that are filed with the SEC or that form the basis of financial statements filed with the SEC;&nbsp;or



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Preparing or originating source data underlying Suncor's financial statements. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Financial information systems design and implementation.</I></FONT><FONT SIZE=2> Any service, unless it is reasonable to conclude that the results of these services will not be
subject to audit procedures during an audit of Suncor's financial statements, including: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Directly or indirectly operating, or supervising the operation of, Suncor's information systems or managing Suncor's local area network;&nbsp;or


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Designing or implementing a hardware or software system that aggregates source data underlying the financial statements or generates information
that is significant to Suncor's financial statements or other financial information systems taken as a&nbsp;whole. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Appraisal or valuation services, fairness opinions or contribution-in-kind reports.</I></FONT><FONT SIZE=2> Any appraisal service, valuation service or
any service involving a fairness opinion or contribution-in-kind report for Suncor, unless it is reasonable to conclude that the results of these services will not be subject
to audit procedures during an audit of Suncor's financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Actuarial services.</I></FONT><FONT SIZE=2> Any actuarially-oriented advisory service involving the determination of amounts recorded in the financial statements and related
accounts for Suncor other than assisting Suncor in understanding the methods, models, assumptions, and inputs used in computing an amount, unless it is reasonable to conclude that the results of these
services will not be subject to audit procedures during an audit of Suncor's financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Internal audit outsourcing services.</I></FONT><FONT SIZE=2> Any internal audit service that has been outsourced by Suncor that relates to Suncor's internal accounting controls,
financial systems or financial statements, unless it is reasonable to conclude that the result of these services will not be subject to audit procedures during an audit of Suncor's financial
statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Management functions.</I></FONT><FONT SIZE=2> Acting, temporarily or permanently, as a director, officer, or employee of Suncor, or performing any decision-making, supervisory,
or ongoing monitoring function for&nbsp;Suncor. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Human resources.</I></FONT><FONT SIZE=2> Any of the following: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Searching for or seeking out prospective candidates for managerial, executive, or director positions;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Engaging in psychological testing, or other formal testing or evaluation programs;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Undertaking reference checks of prospective candidates for an executive or director position;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Acting as a negotiator on Suncor's behalf, such as determining position, status or title, compensation, fringe benefits, or other conditions of
employment;&nbsp;or


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Recommending, or advising Suncor to hire a specific candidate for a specific job (except that an accounting firm may, upon request by Suncor,
interview candidates and advise Suncor on the candidate's competence for financial accounting, administrative, or control positions). </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Broker-dealer, investment adviser or investment banking services.</I></FONT><FONT SIZE=2> Acting as a broker-dealer (registered or unregistered), promoter, or underwriter, on
behalf of Suncor, making investment decisions on behalf of Suncor or otherwise having discretionary authority over Suncor's investments, executing a transaction to buy or sell Suncor's investment, or
having custody of Suncor's assets, such as taking temporary possession of securities purchased by&nbsp;Suncor. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Legal services.</I></FONT><FONT SIZE=2> Providing any service to Suncor that, under circumstances in which the service is provided, could be provided only by someone licensed,
admitted, or otherwise qualified to practice law in the jurisdiction in which the service is&nbsp;prohibited. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>B-4</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><I>Expert services unrelated to the audit.</I></FONT><FONT SIZE=2> Providing an expert opinion or other expert service for Suncor, or Suncor's legal representative, for the purpose
of advocating Suncor's interest in litigation or in a regulatory or administrative proceeding or investigation. In any litigation or regulatory or administrative proceeding or investigation, an
accountant's independence shall not be deemed to be impaired if the accountant provides factual accounts, including testimony, of work performed or explains the positions taken or conclusions reached
during the performance of any service provided by the accountant for&nbsp;Suncor. </FONT></P>

<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Appendix&nbsp;B<BR>
<BR>
Pre-Approval Request Form</B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>NATURE OF WORK</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>ESTIMATED FEES<BR>
(Cdn&nbsp;$)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Date</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="49%" style="font-family:;"><FONT SIZE=1>Signature</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>B-5</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_gk49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


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


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULE "C"<BR>
<BR>
FORM 51-101F2<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2><B><I>


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REPORT ON RESERVES DATA BY<BR>
INDEPENDENT QUALIFIED RESERVES<BR>
EVALUATOR OR AUDITOR</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>To the board of directors of Suncor Energy&nbsp;Inc. (the&nbsp;"Company"): </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>We
have evaluated the Company's reserves data as at December&nbsp;31, 2011. The reserves data are estimates of proved reserves and probable reserves and related future net revenues
as at December&nbsp;31, 2011, estimated using forecast prices and&nbsp;costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
reserves data are the responsibility of the Company's management. Our responsibility is to express an opinion on the reserves data based on our&nbsp;evaluation. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>We
carried out our evaluation in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook (the&nbsp;"COGE Handbook") prepared jointly by the Society of Petroleum Evaluation
Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy&nbsp;&amp; Petroleum (Petroleum Society). </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Those
standards require that we plan and perform an evaluation to obtain reasonable assurance as to whether the reserves data are free of material misstatement. An evaluation also
includes assessing whether the reserves data are in accordance with principles and definitions presented in the COGE&nbsp;Handbook.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
following table sets forth the estimated future net revenues (before deduction of income taxes) attributed to proved plus probable reserves, estimated using forecast prices and
costs and calculated using a discount rate of 10&nbsp;percent, included in the reserves data of the Company evaluated by us for the year ended December&nbsp;31, 2011, and identifies the respective
portions thereof that we have evaluated and reported on to the Company's management and board of&nbsp;directors: </FONT></DD></DL>

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<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Independent Qualified</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Description and<BR>
Preparation Date of</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Location of Reserves<BR>
(Country or Foreign</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net Present Value of Future Net Revenues<BR>
(before income taxes, 10% discount rate-$MM)</FONT><HR NOSHADE></TD>
<TD WIDTH="2%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Reserves Evaluator</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Evaluation Report</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Geographic Area)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Audited</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Evaluated</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Reviewed</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" style="font-family:;"><FONT SIZE=1>GLJ Petroleum Consultants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1>Oil Sands In-Situ<BR>
January&nbsp;12, 2012</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;247</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;247</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" style="font-family:;"><BR><FONT SIZE=1> GLJ Petroleum Consultants</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1><BR>
Oil Sands Mining<BR>
January&nbsp;12, 2012</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
31&nbsp;757</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
31&nbsp;757</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="20%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49&nbsp;004</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In
our opinion, the reserves data respectively evaluated by us have, in all material respects, been determined and are in accordance with the COGE Handbook, consistently applied. We
express no opinion on the reserves data that we reviewed but did not audit or&nbsp;evaluate.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>6.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>We
have no responsibility to update our reports referred to in paragraph&nbsp;4 for events and circumstances occurring after their respective preparation dates.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>7.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Because
the reserves data are based on judgments regarding future events, actual results will vary and the variations may be&nbsp;material. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>EXECUTED
as to our report referred to above: </FONT></P>

<P style="font-family:;"><FONT SIZE=2>GLJ
Petroleum Consultants&nbsp;Ltd., Calgary, Alberta, Canada, March&nbsp;1, 2012 </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>"Caralyn P. Bennett"</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Caralyn
P. Bennett, P. Eng.<BR>
Vice-President </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>C-1</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=94,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="1",CHK=264424,FOLIO='C-1',FILE='DISK124:[12ZAL1.12ZAL49101]GK49101A.;19',USER='JDAY',CD='29-FEB-2012;16:33' -->
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<P ALIGN="CENTER" style="font-family:;"><FONT SIZE=2><A
NAME="page_gm49101_1_1"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULE "D"<BR>
<BR>
FORM 51-101F2<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2><B><I>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


REPORT ON RESERVES DATA BY<BR>
INDEPENDENT QUALIFIED RESERVES<BR>
EVALUATOR OR AUDITOR</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>To the board of directors of Suncor Energy&nbsp;Inc. (the&nbsp;"Company"): </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>We
have evaluated the Company's reserves data as at December&nbsp;31, 2011. The reserves data are estimates of proved reserves and probable reserves and related future net revenues
as at December&nbsp;31, 2011, estimated using forecast prices and&nbsp;costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
reserves data are the responsibility of the Company's management. Our responsibility is to express an opinion on the reserves data based on our&nbsp;evaluation. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>We
carried out our evaluation in accordance with standards set out in the Canadian Oil and Gas Evaluation Handbook (the&nbsp;"COGE Handbook") prepared jointly by the Society of Petroleum Evaluation
Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy&nbsp;&amp; Petroleum (Petroleum Society). </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Those
standards require that we plan and perform an evaluation to obtain reasonable assurance as to whether the reserves data are free of material misstatement. An evaluation also
includes assessing whether the reserves data are in accordance with principles and definitions presented in the COGE&nbsp;Handbook.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The
following table sets forth the estimated future net revenues (before deduction of income taxes) attributed to proved plus probable reserves, estimated using forecast prices and
costs and calculated using a discount rate of 10&nbsp;percent, included in the reserves data of the Company evaluated by us for the year ended December&nbsp;31, 2011, and identifies the respective
portions thereof that we have evaluated and reported on to the Company's management and board of&nbsp;directors: </FONT></DD></DL>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="87%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=14 VALIGN="BOTTOM" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Description and</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Location of Reserves</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net Present Value of Future Net Revenue<BR>
(before income taxes, 10% discount rate)<BR>
($MM)</FONT><HR NOSHADE></TD>
<TD WIDTH="1%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Independent Qualified</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Preparation Date of</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(Country or Foreign</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1> Reserves Evaluator</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Evaluation Report</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Geographic Area)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Audited</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Evaluated</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Reviewed</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 VALIGN="BOTTOM" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sproule Associates Limited</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>East Coast Canada<BR>
February&nbsp;16, 2012</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Newfoundland Offshore, Canada</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>7&nbsp;904</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>7&nbsp;904</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1> Sproule Associates Limited</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
North America Onshore<BR>
February&nbsp;16, 2012</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
Western Canada</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
2&nbsp;126</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
2&nbsp;126</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1> Sproule International Limited</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
North Sea<BR>
February&nbsp;16, 2012</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
North Sea,<BR>
United Kingdom</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
9&nbsp;026</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
9&nbsp;026</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1> Sproule International Limited</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
Other International<BR>
February&nbsp;16, 2012</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
Libya, Syria</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
6&nbsp;195</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
6&nbsp;195</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 VALIGN="BOTTOM" style="font-family:;"><BR><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="21%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1><B>25&nbsp;251</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1><B>25&nbsp;251</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 VALIGN="BOTTOM" style="font-family:;"><BR><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In
our opinion, the reserves data respectively evaluated by us have, in all material respects, been determined and are in accordance with the COGE Handbook, consistently applied. We
express no opinion on the reserves data that we reviewed but did not audit or&nbsp;evaluate.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>6.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>We
have no responsibility to update our reports referred to in paragraph&nbsp;4 for events and circumstances occurring after their respective preparation dates.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>7.</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Because
the reserves data are based on judgments regarding future events, actual results will vary and the variations may be&nbsp;material. <BR></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>EXECUTED
as to our report referred to above: </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Sproule
Associates Limited and Sproule International Limited, Calgary, Alberta, Canada, March&nbsp;1,&nbsp;2012 </FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>"Harry J. Helwerda"</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Harry
J. Helwerda, P. Eng., FEC<BR>
Executive Vice-President and Director </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>SCHEDULE "E"<BR>
<BR>
FORM 51-101F3<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=2><B><I>


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REPORT OF MANAGEMENT AND DIRECTORS<BR>
ON RESERVES DATA AND OTHER INFORMATION</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Management of Suncor Energy&nbsp;Inc. (the&nbsp;"Company") are responsible for the preparation and disclosure of information with respect to the Company's
oil and gas activities in accordance with securities regulatory requirements. This information includes reserves data which are estimates of proved reserves and probable reserves and related future
net revenues as at December&nbsp;31, 2011, estimated using forecast prices and&nbsp;costs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Independent
qualified reserves evaluators have evaluated the Company's reserves data. The reports of the independent qualified reserves evaluators will be filed with securities regulatory authorities
concurrently with this&nbsp;report. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Audit Committee of the board of directors of the Company has </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>reviewed
the Company's procedures for providing information to the independent qualified reserves evaluators;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>met
with the independent qualified reserves evaluators to determine whether any restrictions affected the ability of the independent qualified reserves evaluators to report without
reservation;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>reviewed
the reserves data with management and the independent qualified reserves evaluators. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
Audit Committee of the board of directors has reviewed the Company's procedures for assembling and reporting other information associated with oil and gas activities and has reviewed that
information with management. The board of directors has, on the recommendation of the Audit Committee, approved </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
content and filing with securities regulatory authorities of Form&nbsp;51-101F1&nbsp;containing reserves data and other oil and gas information;
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
filing of Form&nbsp;51-101F2 which is the report of the independent qualified reserves evaluators on the reserves data;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:;"><FONT SIZE=2>the
content and filing of this report. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Because
the reserves data are based on judgments regarding future events, actual results will vary and the variations may be&nbsp;material. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>"</FONT><FONT
SIZE=2><I>Richard L. George</I></FONT><FONT SIZE=2>"<BR>
RICHARD L. GEORGE<BR>
Chief Executive Officer </FONT></P>

<P style="font-family:;"><FONT SIZE=2>"</FONT><FONT
SIZE=2><I>Bart W. Demosky</I></FONT><FONT SIZE=2>"<BR>
BART W. DEMOSKY<BR>
Chief Financial Officer </FONT></P>

<P style="font-family:;"><FONT SIZE=2>"</FONT><FONT
SIZE=2><I>John T. Ferguson</I></FONT><FONT SIZE=2>"<BR>
JOHN T. FERGUSON<BR>
Chairman of the Board of Directors </FONT></P>

<P style="font-family:;"><FONT SIZE=2>"</FONT><FONT
SIZE=2><I>Michael W. O'Brien</I></FONT><FONT SIZE=2>"<BR>
MICHAEL W. O'BRIEN<BR>
Chair of the Audit Committee </FONT></P>

<P style="font-family:;"><FONT SIZE=2>March&nbsp;1,
2012 </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2012</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL INFORMATION
FORM </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>E-1</B></FONT></P>

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<IMG SRC="g894610.jpg" ALT="LOGO" WIDTH="195" HEIGHT="82">
 </B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1><BR>
<BR></FONT> <FONT SIZE=2>Box 2844, 150 - 6th Avenue S.W., Calgary, Alberta, Canada T2P 3E3<BR>
tel: (403) 296-6000&nbsp;&nbsp;&nbsp;&nbsp;fax: (403) 296-3030&nbsp;&nbsp;&nbsp;&nbsp;info@suncor.com&nbsp;&nbsp;&nbsp;&nbsp;www.suncor.com</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
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<BR>
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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_undertaking_and_consent_to_service_of_process"> </A>
<A NAME="toc_da70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  UNDERTAKING AND CONSENT TO SERVICE OF PROCESS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>A.&nbsp;&nbsp;&nbsp;&nbsp;Undertaking  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suncor Energy&nbsp;Inc. (the&nbsp;"Registrant") undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the
staff of the Securities and Exchange Commission ("SEC"), and to furnish promptly, when requested to do so by the SEC staff, information relating to the securities in relation to which the obligation
to file an annual report on Form&nbsp;40-F arises, or&nbsp;transactions in said securities. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>B.&nbsp;&nbsp;&nbsp;&nbsp;Consent to Service of Process  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has filed previously with the SEC a Form&nbsp;F-X in connection with the Common&nbsp;Shares. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_disclosure_controls_and_proced__dis03315"> </A>
<A NAME="toc_da70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  DISCLOSURE CONTROLS AND PROCEDURES AND INTERNAL CONTROL OVER FINANCIAL REPORTING    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See pages&nbsp;79 and 80 of Exhibit&nbsp;99-1 and page&nbsp;70 of Exhibit&nbsp;99-2. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_attestation_report_of___da702461"> </A>
<A NAME="toc_da70301_3"> </A>
<BR></FONT><FONT SIZE=2><B>  ATTESTATION REPORT OF THE REGISTERED PUBLIC ACCOUNTING FIRM    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See pages&nbsp;81 and 82 of Exhibit&nbsp;99-1. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_audit_committee_financial_expert"> </A>
<A NAME="toc_da70301_4"> </A>
<BR></FONT><FONT SIZE=2><B>  AUDIT COMMITTEE FINANCIAL EXPERT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See pages&nbsp;74 and&nbsp;75 of Annual Information Form. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_code_of_ethics"> </A>
<A NAME="toc_da70301_5"> </A>
<BR></FONT><FONT SIZE=2><B>  CODE OF ETHICS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See pages&nbsp;25 and 77 of Annual Information Form. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_fees_paid_to_principal_accountant"> </A>
<A NAME="toc_da70301_6"> </A>
<BR></FONT><FONT SIZE=2><B>  FEES PAID TO PRINCIPAL ACCOUNTANT    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See pages&nbsp;75 and 76 of Annual Information Form. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_audit_committee_pre-approval_policies"> </A>
<A NAME="toc_da70301_7"> </A>
<BR></FONT><FONT SIZE=2><B>  AUDIT COMMITTEE PRE-APPROVAL POLICIES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Schedule&nbsp;"B" of Annual Information Form. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_approval_of_non-audit_services"> </A>
<A NAME="toc_da70301_8"> </A>
<BR></FONT><FONT SIZE=2><B>  APPROVAL OF NON-AUDIT SERVICES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Schedule&nbsp;"B" of Annual Information Form. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="da70301_off-balance_sheet_arrangements"> </A>
<A NAME="toc_da70301_9"> </A>
<BR></FONT><FONT SIZE=2><B>  OFF-BALANCE SHEET ARRANGEMENTS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See page&nbsp;55 of Exhibit&nbsp;99-2. </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc70301_tabular_disclosure_of_contractual_obligations"> </A>
<A NAME="toc_dc70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See page&nbsp;55 of Exhibit&nbsp;99-2. </FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dc70301_identification_of_the_audit_committee"> </A>
<A NAME="toc_dc70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  IDENTIFICATION OF THE AUDIT COMMITTEE    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See page&nbsp;74 of Annual Information Form. </FONT></P>

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<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
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<A NAME="toc_de70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  SIGNATURES    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Exchange Act, the registrant certifies that it meets all of the requirements for filing on
Form&nbsp;40-F and&nbsp;has duly caused this annual report to be signed on its behalf by the undersigned, thereto duly authorized. </FONT></P>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2><B>SUNCOR ENERGY&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2> DATE: March&nbsp;1, 2012</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2> PER:</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>/s/&nbsp;BART W. DEMOSKY<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Bart W. Demosky<BR>
Chief Financial Officer</FONT></TD>
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NAME="dg70301_exhibit_index"> </A>
<A NAME="toc_dg70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT INDEX    <BR>    </B></FONT></P>
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<TH NOWRAP  COLSPAN=2 ALIGN="LEFT" style="font-family:times;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:41pt;"><FONT SIZE=1><B>Exhibit No.

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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:times;border-bottom:solid #000000 1.0pt;"><FONT SIZE=1><B>Description </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2>99-1</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2>Audited Consolidated Financial Statements of Suncor Energy&nbsp;Inc. for the fiscal year ended December&nbsp;31, 2011</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-2</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Management's Discussion and Analysis for the fiscal year ended December&nbsp;31, 2011, dated February&nbsp;23, 2012</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-3</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Consent of PricewaterhouseCoopers&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-4</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Consent of GLJ Petroleum Consultants&nbsp;Ltd.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-5</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Consent of Sproule Associates Limited and Sproule International Limited</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-6</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Certificate of Chief Executive Officer Pursuant to Exchange Act Rules&nbsp;13a-14(a) or&nbsp;15d-14(a)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-7</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Certificate of the Chief Financial Officer Pursuant to Exchange Act Rules&nbsp;13a-14(a) or&nbsp;15d-14(a)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-8</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Certificate of the Chief Executive Officer Pursuant to 18&nbsp;U.S.C. Section&nbsp;1350, as Enacted Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:times;"><BR><FONT SIZE=2>99-9</FONT></TD>
<TD style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:times;"><BR><FONT SIZE=2>Certificate of the Chief Financial Officer Pursuant to 18&nbsp;U.S.C. Section&nbsp;1350, as Enacted Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</FONT></TD>
</TR>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_bi70301_1">ANNUAL INFORMATION FORM</A></FONT><BR>



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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da70301_1">UNDERTAKING AND CONSENT TO SERVICE OF PROCESS</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da70301_2">DISCLOSURE CONTROLS AND PROCEDURES AND INTERNAL CONTROL OVER FINANCIAL REPORTING</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_da70301_3">ATTESTATION REPORT OF THE REGISTERED PUBLIC ACCOUNTING FIRM</A></FONT><BR>
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<A NAME="toc_di70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="di70301_audited_consolidated_financial__aud03779"> </A>
<A NAME="toc_di70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Audited Consolidated Financial Statements of Suncor Energy&nbsp;Inc. for the fiscal<BR>  year ended December&nbsp;31, 2011    <BR>    </B></FONT></P>

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NAME="page_ey70001_1_79"> </A> </FONT> <FONT SIZE=6><B>


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 </B></FONT><FONT SIZE=1><B>MANAGEMENT'S STATEMENT<BR>
OF RESPONSIBILITY FOR FINANCIAL REPORTING  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The management of Suncor Energy&nbsp;Inc. is responsible for the presentation and preparation of the accompanying consolidated financial statements of Suncor
Energy&nbsp;Inc. and all related financial information contained in the Annual Report, including Management's Discussion and&nbsp;Analysis. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. They include certain
amounts that are based on estimates and judgments. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
management's opinion, the consolidated financial statements have been properly prepared within reasonable limits of materiality and within the framework of the significant accounting policies
adopted by management. If alternate accounting methods exist, management has chosen those policies it deems the most appropriate in the circumstances. In discharging its responsibilities for the
integrity and reliability of the financial statements, management maintains and relies upon a system of internal controls designed to ensure that transactions are properly authorized and recorded,
assets are safeguarded against unauthorized use or disposition and liabilities are recognized. These controls include quality standards in hiring and training of employees, formalized policies and
procedures, a corporate code of conduct and associated compliance program designed to establish and monitor conflicts of interest, the integrity of accounting records and financial information among
others, and employee and management accountability for performance within appropriate and well-defined areas of responsibility. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
system of internal controls is further supported by the professional staff of an internal audit function who conduct periodic audits of the company's financial reporting. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
Audit Committee of the Board of Directors, composed of five independent directors, reviews the effectiveness of the company's financial reporting systems, management information systems, internal
control systems and internal auditors. It recommends to the Board of Directors the external auditor to be appointed by the shareholders at each annual meeting and reviews the independence and
effectiveness of their work. In addition, it reviews with management and the external auditor any significant financial reporting issues, the presentation and impact of significant risks and
uncertainties, and key estimates and judgments of management that may be material for financial reporting purposes. The Audit Committee appoints the
independent reserve evaluators. The Audit Committee meets at least quarterly to review and approve interim financial statements prior to their release, as well as annually to review Suncor's annual
financial statements and Management's Discussion and Analysis, Annual Information Form/Form&nbsp;40-F, and annual reserves and resources estimates, and recommend their approval to the
Board of Directors. The internal auditors and the external auditor, PricewaterhouseCoopers&nbsp;LLP, have unrestricted access to the company, the Audit Committee and the Board of&nbsp;Directors. </FONT></P>

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<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1><B>
<IMG SRC="g972448.jpg" ALT="LOGO" WIDTH="124" HEIGHT="46">
 </B></FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1><B>
<IMG SRC="g966318.jpg" ALT="LOGO" WIDTH="309" HEIGHT="43">
 </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="53%" style="font-family:;"><BR><FONT SIZE=1><B>Richard L. George</B></FONT></TD>
<TD WIDTH="47%" style="font-family:;"><BR><FONT SIZE=1><B>Bart W. Demosky</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Chief Executive Officer</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><I>February&nbsp;23, 2012  </I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>79</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=1>The
following report is provided by management in respect of the company's internal control over financial reporting (as&nbsp;defined in Rule&nbsp;13a-15(f)
and&nbsp;15d-15(f) under the U.S.&nbsp;Securities Exchange Act of&nbsp;1934): </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>1.</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Management
is responsible for establishing and maintaining adequate internal control over the company's financial reporting.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>2.</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Management
has used the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework in Internal Control&nbsp;&#150;&nbsp;Integrated
Framework to evaluate the effectiveness of the company's internal control over financial reporting.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>3.</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Management
has assessed the effectiveness of the company's internal control over financial reporting as at December&nbsp;31, 2011, and has concluded that such internal control over
financial reporting was effective as of that date. Additionally, based on this assessment, management determined that there were no material weaknesses in internal control over financial reporting as
at December&nbsp;31, 2011. Because of inherent limitations, systems of internal control over financial reporting may not prevent or detect misstatements and even those systems determined to be
effective can provide only reasonable assurance with respect to financial statement preparation and presentation.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>4.</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
effectiveness of the company's internal control over financial reporting as at December&nbsp;31, 2011 has been audited by PricewaterhouseCoopers&nbsp;LLP, independent auditor,
as stated in their report which appears&nbsp;herein. </FONT></DD></DL>

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<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1><B>
<IMG SRC="g966318.jpg" ALT="LOGO" WIDTH="309" HEIGHT="43">
 </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="53%" style="font-family:;"><BR><FONT SIZE=1><B>Richard L. George</B></FONT></TD>
<TD WIDTH="47%" style="font-family:;"><BR><FONT SIZE=1><B>Bart W. Demosky</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="53%" style="font-family:;"><FONT SIZE=1>Chief Executive Officer</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><I>February&nbsp;23, 2012  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>80</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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 </B></FONT><FONT SIZE=1><B>INDEPENDENT AUDITOR'S REPORT  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>TO THE SHAREHOLDERS OF SUNCOR ENERGY&nbsp;INC.  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>We have completed an integrated audit of Suncor Energy&nbsp;Inc.'s December&nbsp;31, 2011 consolidated financial statements and its internal control over
financial reporting as at December&nbsp;31, 2011 and an audit of its December&nbsp;31, 2010 consolidated financial statements. Our opinions, based on our audits, are presented below. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>We have audited the accompanying consolidated financial statements of Suncor Energy&nbsp;Inc. ("the&nbsp;company"), which comprise the consolidated balance sheets as at
December&nbsp;31, 2011, December&nbsp;31, 2010 and January&nbsp;1, 2010 and the consolidated statements of comprehensive income, changes in shareholders' equity and cash flows for the years
ended December&nbsp;31, 2011 and December&nbsp;31, 2010, and the related notes, which comprise a summary of significant accounting policies. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Management's responsibility for the consolidated financial statements  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as
issued by the International Accounting Standards Board and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free
from material misstatement, whether due to fraud or&nbsp;error. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Auditor's responsibility  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Canadian generally
accepted auditing standards and the standards of the Public Company Accounting Oversight Board (United&nbsp;States). Those standards require that we plan and perform an audit to obtain reasonable
assurance about whether the consolidated financial statements are free from material misstatement. Canadian generally accepted auditing standards require that we comply with ethical requirements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>An
audit involves performing procedures to obtain audit evidence, on a test basis, about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the
auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the company's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating the appropriateness of accounting principles and policies used and the reasonableness of accounting estimates made by management, as well as evaluating
the overall presentation of the consolidated financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>We
believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide a basis for our audit opinion on the consolidated financial statements. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>Opinion  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the company as at December&nbsp;31, 2011,
December&nbsp;31, 2010 and January&nbsp;1, 2010 and its financial performance and its cash flows for the years ended December&nbsp;31, 2011 and December&nbsp;31, 2010 in accordance with
International Financial Reporting Standards as issued by the International Accounting Standards Board. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>We have also audited the company's internal control over financial reporting as at December&nbsp;31, 2011, based on criteria established in Internal
Control&nbsp;&#150;&nbsp;Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Management's responsibility for internal control over financial reporting  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial
reporting included in the accompanying Management's Report on Internal Control over Financial Reporting. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>81</B></FONT></P>

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<A NAME="page_fc70001_1_82"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Auditor's responsibility  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Our responsibility is to express an opinion on the company's internal control over financial reporting based on our audit. We conducted our audit of internal control over
financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (United&nbsp;States). Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>An
audit of internal control over financial reporting includes obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and
evaluating the design and operating effectiveness of internal control, based on the assessed risk, and performing such other procedures as we consider necessary in the circumstances. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>We
believe that our audit provides a reasonable basis for our audit opinion on the company's internal control over financial reporting. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Definition of internal control over financial reporting  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures
that: (i)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii)&nbsp;provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii)&nbsp;provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Inherent limitations  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Opinion  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In our opinion, the company maintained, in all material respects, effective internal control over financial reporting as at December&nbsp;31, 2011, based on criteria
established in Internal Control&nbsp;&#150;&nbsp;Integrated Framework issued by&nbsp;COSO. </FONT></P>


<P style="font-family:;"><BR><FONT SIZE=1><B>
<IMG SRC="g129127.jpg" ALT="LOGO" WIDTH="250" HEIGHT="30">
  </B></FONT></P>

<P style="font-family:;"><BR><FONT SIZE=1><BR>
PricewaterhouseCoopers LLP<BR>
Chartered Accountants<BR>
Calgary, Alberta<BR>
<BR> </FONT> <FONT SIZE=1><I>February&nbsp;23, 2012  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>82</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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NAME="page_fg70001_1_83"> </A> </FONT> <FONT SIZE=6><B>


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 </B></FONT><FONT SIZE=1><B>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME  </B></FONT></P>

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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>For the years ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Revenues and Other Income</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties (note&nbsp;7)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;337</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other income (note&nbsp;8)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>453</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;790</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Expenses</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Purchases of crude oil and products</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18&nbsp;723</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;831</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating, selling and general (notes&nbsp;9 and&nbsp;27)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;424</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;984</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Transportation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>736</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>703</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment (note&nbsp;10)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;952</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;803</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Exploration</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>116</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>218</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>136</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(975</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Project start-up costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>163</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Financing expenses (note&nbsp;11)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>471</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>187</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32&nbsp;721</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26&nbsp;828</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Earnings before Income Taxes</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;069</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Income Taxes</B></FONT><FONT SIZE=1> (note&nbsp;12)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Current</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;121</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;196</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Deferred</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;644</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;765</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Net Earnings</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Other Comprehensive Income (Loss)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>230</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(437</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment relating to assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(63</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation reclassified to net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>14</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Cash flow hedges reclassified to net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans,<BR>
net of income taxes of $117 (2010&nbsp;&#150;&nbsp;$49)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(339</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(152</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Other Comprehensive Income (Loss)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(95</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Total Comprehensive Income</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
4&nbsp;209</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
3&nbsp;225</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Per Common Share</B></FONT><FONT SIZE=1> (dollars) (note&nbsp;13)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Net earnings&nbsp;&#150;&nbsp;basic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.74</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.45</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Net earnings&nbsp;&#150;&nbsp;diluted</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.67</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.43</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Cash dividends</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.43</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The accompanying notes are an integral part of the consolidated financial statements. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>83</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=6,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=704334,FOLIO='83',FILE='DISK135:[12ZAL1.12ZAL70001]FG70001A.;12',USER='JDAY',CD='29-FEB-2012;16:44' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_fi70001_1_84"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=1><B>CONSOLIDATED BALANCE SHEETS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Assets</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Cash and cash equivalents (note&nbsp;14)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;803</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>505</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;412</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;253</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;936</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Inventories (note&nbsp;16)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;205</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;141</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;971</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Income taxes receivable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>704</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>734</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>587</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Assets held for sale (note&nbsp;17)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>762</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>14&nbsp;124</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;967</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;999</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net (note&nbsp;18)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>52&nbsp;589</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;958</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;556</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Exploration and&nbsp;evaluation (note&nbsp;19)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;554</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;961</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;342</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other assets (note&nbsp;20)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>311</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Goodwill and&nbsp;other intangible assets (note&nbsp;21)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;139</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;422</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;433</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes (note&nbsp;12)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>60</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>210</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>74&nbsp;777</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1><B>Liabilities and Shareholders' Equity</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Short-term debt (note&nbsp;22)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>763</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;984</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;317</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Current portion of long-term debt (note&nbsp;22)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>518</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;755</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;443</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;773</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Current portion of provisions (note&nbsp;25)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>811</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>608</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>882</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Income taxes payable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>969</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>929</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;274</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="51%" style="font-family:;"><FONT SIZE=1>Liabilities associated with assets held for sale (note&nbsp;17)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>586</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;310</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;068</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;271</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Long-term debt (note&nbsp;22)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;004</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;829</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;679</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other long-term liabilities (note&nbsp;23)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;392</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;103</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;073</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Provisions (note&nbsp;25)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;752</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;504</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;305</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes (note&nbsp;12)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;719</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;911</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;986</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38&nbsp;600</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;485</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total liabilities and shareholders' equity</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>74&nbsp;777</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The accompanying notes are an integral part of the consolidated financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Approved on behalf of the Board of Directors: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><BR><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>
<IMG SRC="g541072.jpg" ALT="SIG" WIDTH="280" HEIGHT="25">
 </B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>
<IMG SRC="g826151.jpg" ALT="SIG" WIDTH="216" HEIGHT="93">
 </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Steven W. Williams</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Michael W. O'Brien</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Director</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Director</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><I>February&nbsp;23, 2012  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>84</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=7,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=862244,FOLIO='84',FILE='DISK135:[12ZAL1.12ZAL70001]FI70001A.;15',USER='JDAY',CD='29-FEB-2012;16:44' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_fk70001_1_85"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=1><B>CONSOLIDATED STATEMENTS OF CASH FLOWS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>For the years ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating Activities</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Adjustments for:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;952</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;803</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;644</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Accretion</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>157</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>183</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(426</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Change in fair value of derivative contracts</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(40</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(285</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>136</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(975</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Share-based compensation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(102</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Exploration</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(516</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(485</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Decrease (increase) in non-cash working capital (note&nbsp;15)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>242</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;170</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow provided by operating activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;988</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;486</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Investing Activities</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Capital and exploration expenditures</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6&nbsp;850</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6&nbsp;010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Acquisitions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(842</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Proceeds from disposal of assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;074</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;088</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other investments</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Decrease (increase) in non-cash working capital (note&nbsp;15)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(193</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow used in investing activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4&nbsp;598</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;112</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Financing Activities</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net change in short-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;221</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(333</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net change in long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(924</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Repayment of long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(500</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Issuance of common shares under share option plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>213</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Purchase of common shares for cancellation (note&nbsp;26)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(500</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Dividends paid on common shares</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(664</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(611</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow used in financing activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2&nbsp;676</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;787</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Increase in Cash and Cash Equivalents</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
2&nbsp;714</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
587</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Effect of foreign exchange on cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash and cash equivalents at beginning of period</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;077</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>505</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cash and Cash Equivalents at End of Period</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;803</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Supplementary Cash Flow Information</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Interest paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>672</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>690</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Income taxes paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>885</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;193</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The accompanying notes are an integral part of the consolidated financial statements. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>85</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=8,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=479165,FOLIO='85',FILE='DISK135:[12ZAL1.12ZAL70001]FK70001A.;9',USER='JDAY',CD='29-FEB-2012;16:45' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_fm70001_1_86"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=1><B>CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="23%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Share<BR>
Capital</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Contributed<BR>
Surplus</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Foreign<BR>
Currency<BR>
Translation</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cash&nbsp;Flow<BR>
Hedge</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Retained<BR>
Earnings</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Number&nbsp;of<BR>
Common<BR>
Shares<BR>
(thousands)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1><B>At January&nbsp;1, 2010</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;053</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>536</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;881</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;485</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;559&nbsp;778</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Net change in cash flow hedges</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(152</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(152</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Total comprehensive income (loss)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;677</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;225</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Dividends paid on common shares</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(611</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(611</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Issued under share option plans</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>122</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(33</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;292</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Issued under dividend reinvestment plan</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(13</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>419</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Share-based compensation expense</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1><B>At December&nbsp;31, 2010</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;188</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>507</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;934</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;565&nbsp;489</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>244</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>244</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(339</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(339</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Total comprehensive income</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>244</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;965</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;209</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Dividends paid on common shares</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(664</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(664</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Issued under share option plans</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>325</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(57</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>268</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;920</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Issued under dividend reinvestment plan</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>355</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Purchase of common shares for cancellation (note&nbsp;26)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(222</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(278</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(500</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(17&nbsp;128</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Share-based compensation expense</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>94</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>94</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Income tax benefit of stock option deduction in the U.S.</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1><B>At December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20&nbsp;303</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>545</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(207</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>14</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17&nbsp;945</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38&nbsp;600</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;558&nbsp;636</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The accompanying notes are an integral part of the consolidated financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>86</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=9,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=71950,FOLIO='86',FILE='DISK135:[12ZAL1.12ZAL70001]FM70001A.;16',USER='JDAY',CD='29-FEB-2012;16:45' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_ga70001_1_87"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=1><B>SUNCOR ENERGY&nbsp;INC.<BR>
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>1.&nbsp;REPORTING ENTITY AND DESCRIPTION OF THE BUSINESS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Suncor
Energy&nbsp;Inc. (Suncor or the company) is an integrated energy company headquartered in Canada. Suncor's operations include oil sands development and upgrading, onshore and offshore oil and
gas production, petroleum refining, and product marketing primarily under the Petro-Canada brand. The consolidated financial statements of the company comprise the company and its subsidiaries and the
company's interests in associates and jointly controlled entities. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
address of the company's registered office is 150&nbsp;-&nbsp;6th&nbsp;Avenue S.W., Calgary, Alberta, Canada, T2P&nbsp;3E3. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>2.&nbsp;BASIS OF PREPARATION  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;&nbsp;&nbsp;Statement of Compliance  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>These
consolidated financial statements have been prepared in accordance with Canadian generally accepted accounting principles (GAAP) as issued by the Canadian Institute of Chartered Accountants.
In&nbsp;2010, Canadian&nbsp;GAAP was revised to incorporate International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. Effective
January&nbsp;1, 2011, the company's consolidated financial statements have been prepared in accordance with IFRS, and IFRS&nbsp;1 </FONT><FONT SIZE=1><I>First-Time Adoption of
International Financial Reporting Standards</I></FONT><FONT SIZE=1> (IFRS&nbsp;1) has been applied. In previous years, the company prepared its consolidated financial statements in accordance with
Canadian generally accepted accounting principles in effect prior to January&nbsp;1, 2011 (Previous&nbsp;GAAP). Comparative information has been restated from Previous&nbsp;GAAP to IFRS
(see&nbsp;note&nbsp;6). </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
policies applied in these consolidated financial statements are based on IFRS issued and outstanding as at February&nbsp;23, 2012, the date the Board of Directors approved the&nbsp;statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;&nbsp;&nbsp;Basis of Measurement  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
consolidated financial statements are prepared on a historical cost basis except as detailed in the accounting policies disclosed in note&nbsp;3. The accounting policies described in
note&nbsp;3 have been applied consistently to all periods presented in these financial statements except for the opening IFRS consolidated balance sheet, which has utilized certain exemptions
available under IFRS&nbsp;1 (see&nbsp;note&nbsp;6). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;Functional Currency and Presentation Currency  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>These
consolidated financial statements are presented in Canadian dollars, which is the company's functional currency. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(d)&nbsp;&nbsp;&nbsp;Use of Estimates and Judgment  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
timely preparation of financial statements requires that management make estimates and assumptions and use judgment. Accordingly, actual results may differ from estimated amounts as future
confirming events occur. Significant estimates and judgment used in the preparation of the financial statements are described in note&nbsp;4. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>3.&nbsp;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;&nbsp;&nbsp;Principles of Consolidation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company consolidates its interest in entities it controls. Control comprises the power to govern an entity's financial and operating policies to obtain benefits from its activities. Suncor
recognizes its share of assets, liabilities, income and expenses, on a line-by-line basis, of its jointly controlled entities and jointly controlled assets. Investments in
entities over which the company has significant influence are accounted for using the equity method. All intercompany balances and transactions have been eliminated. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;&nbsp;&nbsp;Foreign Currency Translation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Functional
currencies of the company's individual entities represent the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to
the appropriate functional currency at foreign exchange rates that approximate those on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated to
the appropriate functional currency at foreign exchange rates at the balance sheet date. Foreign exchange </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>87</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=10,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=265915,FOLIO='87',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_88"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>differences
arising on translation are recognized in earnings. Non-monetary assets that are measured in a foreign currency at historical cost are translated using the exchange rate at the
date of the transaction. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
preparing the company's consolidated financial statements, the financial statements of each entity are translated into Canadian dollars. The assets and liabilities of foreign operations are
translated into Canadian dollars at exchange rates at the balance sheet date. Revenues and expenses of foreign operations are translated into Canadian dollars using foreign exchange rates that
approximate those on the date of the underlying transaction. Foreign exchange differences are recognized in other comprehensive income. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>If
the company or any of its investments dispose of its entire interest in a foreign operation, or loses control, joint control, or significant influence over a foreign operation, the accumulated
foreign currency translation gains or losses related to the foreign operation are recognized in net&nbsp;earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;&nbsp;&nbsp;&nbsp;Revenues  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Revenue
from the sale of crude oil, natural gas, natural gas liquids, purchased products and refined petroleum products is recorded when title passes to the customer and collection is reasonably
assured. Revenue from properties in which the company has an interest with other producers is recognized on the basis of the company's net working interest. Crude oil and natural gas sold below or
above the company's working interest share of production results in production underlifts or overlifts. Underlifts are recorded as a receivable at market value with a corresponding increase to
revenues, while overlifts are recorded as a payable at market value with a corresponding decrease to revenues. Revenue from oil and natural gas production is recorded net of royalty expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>International
operations conducted pursuant to exploration and production sharing agreements (EPSAs) are reflected in the consolidated financial statements based on the company's working interest.
Under the EPSAs, the company and other non-governmental partners, if any, pay all exploration costs and a pro-rata share of costs to develop and operate the concessions. Each
EPSA establishes specific terms for the company to recover these costs (Cost Recovery Oil) and to share in the production profits (Profit Oil). Cost Recovery Oil is determined in accordance with a
formula that is generally limited to a specified percentage of production during each fiscal year. Profit Oil is that portion of production remaining after deducting Cost Recovery Oil and is shared
between the joint venture partners and the respective government. Cost Recovery Oil and Profit Oil are reported as sales revenue. Income tax amounts that the company would pay under the laws of the
respective countries are paid by the company's governmental joint venture partners on our behalf, and the company reports these amounts as sales revenues. All other government stakes are considered to
be royalty interests. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Physical
and financial contracts entered into for trading purposes are considered derivative financial instruments, and any changes in fair value are recorded on a net basis in Other&nbsp;Income. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>(d)&nbsp;&nbsp;&nbsp;Cash and Cash Equivalents  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Cash
and cash equivalents consist primarily of cash in banks, term deposits, certificates of deposit and all other highly liquid investments at the time of&nbsp;purchase. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(e)&nbsp;&nbsp;&nbsp;Inventories  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Inventories
of crude oil and refined products, other than inventories held for trading purposes, are valued at the lower of cost, using the first-in, first-out method, and net
realizable value. Costs include direct and indirect expenditures incurred in bringing an item or product to its existing condition and location. Materials and supplies are valued at the lower of
average cost and net realizable value. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Inventories
held for trading purposes in the company's energy supply and trading operations are carried at fair value less costs to sell, and any changes in fair value are recognized within
Other&nbsp;Income. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(f)&nbsp;&nbsp;&nbsp;&nbsp;Exploration and Evaluation Assets  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
costs to acquire non-producing oil and gas properties or licence to explore, exploratory well expenditures and the costs to evaluate the commercial potential of underlying resources,
including related borrowing costs, are initially capitalized as Exploration and Evaluation assets. Certain exploration costs, including geological, geophysical, seismic, and sampling on oil sands
properties, are charged to Exploration expense as&nbsp;incurred. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Exploration
and evaluation assets are subject to technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources. If an area or exploration
well is no longer considered commercially viable, the related capitalized costs are charged to net&nbsp;earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>88</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=11,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=456259,FOLIO='88',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_89"> </A>

<P style="font-family:;"><FONT SIZE=1>When
management determines with reasonable certainty that an exploration and evaluation asset will be developed, as evidenced by the classification of proved or probable reserves and the appropriate
internal and external approvals, the asset is transferred to Property, Plant and&nbsp;Equipment. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(g)&nbsp;&nbsp;&nbsp;Property, Plant and Equipment  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>Property,
plant and equipment are recorded at cost. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
costs to acquire developed or producing oil and gas properties and to develop oil and gas properties, including completing geological and geophysical surveys and drilling development wells, and
the costs to construct and install dedicated infrastructure, such as wellhead equipment and supporting assets, mine development, offshore platforms and subsea structures, are capitalized as oil and
gas properties within Property, Plant and&nbsp;Equipment. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
costs to construct, install and commission, or acquire, oil and gas production equipment, including oil sands upgraders, extraction plants, mine equipment, in situ processing facilities, power
generation, utility plants, and natural gas processing plants, and all renewable energy, refining, distribution, marketing assets and related decommissioning and restoration obligations, are
capitalized as Property, Plant and Equipment. Where an asset or part of an asset that was separately depreciated is replaced and it is probable that future economic benefits associated with the item
will flow to the company, the expenditure is capitalized and the carrying amount of the replaced asset is derecognized. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Stripping
activity required to access oil sands mining resources incurred in the initial development phase is capitalized as part of the investment in the construction cost of the mine. Stripping
costs incurred in the production phase are charged to expense as they normally relate to production for the&nbsp;period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
costs of planned major inspection, overhaul and turnaround activities that maintain property, plant and equipment and benefit future years of operations are capitalized. Recurring planned
maintenance activities performed on shorter intervals are expensed as operating costs. Replacements outside of a major inspection, overhaul or turnaround are capitalized when it is probable that
future economic benefits will flow to the company and the associated carrying amount of the replaced asset is derecognized. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Leases
that transfer substantially all the benefits and risks of ownership to the company are recorded as finance lease assets within Property, Plant and Equipment. Costs for all other leases are
recorded as operating expense as&nbsp;incurred. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Borrowing
costs relating to assets that take a substantial period of time to construct for their intended use are capitalized as part of Property, Plant and Equipment. Capitalization of borrowing
costs ceases when the asset is in the location and condition necessary for it to be capable of operating as intended. Capitalization of borrowing costs is suspended when construction of an asset is
ceased for extended periods. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(h)&nbsp;&nbsp;&nbsp;Depreciation, Depletion and Amortization  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Exploration
and evaluation assets are not subject to depreciation, depletion and amortization, with the exception of natural gas leases. Once transferred to Property, Plant and Equipment and
commercial production commences, these costs are depleted on a unit-of-production basis over proved developed reserves with the exception of property acquisition costs which
are depleted over proved reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Capital
expenditures associated with significant development projects are not depleted until assets are substantially complete and ready for their intended&nbsp;use. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Costs
to develop oil and gas properties, and costs of dedicated infrastructure, such as wellhead equipment, offshore platforms and subsea structures, are depleted on a
unit-of-production basis over proved developed reserves. A portion of these costs may not be depleted if they relate to undeveloped reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Major
components of Property, Plant and Equipment are depreciated on a straight-line basis over their expected useful&nbsp;lives. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Natural gas processing plants and transportation assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>15 to 25&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Oil sands upgraders, extraction plants and mine facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>20 to 40&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Oil sands mine equipment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>5 to 15&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Oil sands in situ processing facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>30&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Power generation and utility plants</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>40&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Refineries, ethanol and lubricants plants</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>20 to 40&nbsp;years</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Marketing and other distribution assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" style="font-family:;"><FONT SIZE=1>20 to 40&nbsp;years</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>89</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=12,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=542884,FOLIO='89',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_90"> </A>

<P style="font-family:;"><FONT SIZE=1>The costs of major inspection, overhaul and turnaround activities that are capitalized are depreciated on a straight-line basis over the period to
the next scheduled activity, which varies from two to five&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Depreciation,
depletion and amortization rates are reviewed annually, or when events or conditions occur that impact capitalized costs, reserves or estimated service&nbsp;lives. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(i)&nbsp;&nbsp;&nbsp;&nbsp;Goodwill and Other Intangible Assets  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
company accounts for business combinations using the acquisition method. The excess of the purchase price over the fair value of the identifiable net assets represents goodwill, and is allocated
to the cash-generating units (CGUs) or groups of CGUs expected to benefit from the business combination. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Other
intangible assets include acquired customer lists and brand value. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Goodwill
and brand value have indefinite useful lives and are not subject to amortization. Customer lists are amortized over their expected useful lives, which range from five to 10&nbsp;years.
Expected useful lives of goodwill and other intangible assets are reviewed on an annual&nbsp;basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(j)&nbsp;&nbsp;&nbsp;&nbsp;Impairment of Assets  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Non-Financial Assets  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Intangible
assets that have an indefinite useful life are tested annually for impairment. Exploration and evaluation assets are tested for impairment immediately prior to costs being transferred to
Property, Plant and Equipment. All other assets are tested for impairment whenever events or changes in circumstance indicate that the carrying amount may not be&nbsp;recoverable. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>For
the purposes of assessing impairment, assets are grouped into CGUs, defined as the lowest levels for which there are separately identifiable cash inflows. An impairment loss is recognized in
Depreciation, Depletion, Amortization and Impairment for the amount by which the carrying amount of the individual asset or CGU exceeds its recoverable amount. The recoverable amount is the higher of
the fair value less costs to sell and value-in-use. In determining fair value less costs to sell, recent market transactions are taken into account, if available. In the
absence of such transactions, an appropriate
valuation model is used. Value-in-use is assessed using the present value of the expected future cash flows of the relevant asset or CGU. Exploration and evaluation assets are
tested with the producing CGU for which the activity can be attributed or to the segment level it relates to when a producing CGU does not exist for the exploration and evaluation activity. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Impairments
are reversed for all CGUs and individual assets, other than goodwill, to the extent that events or circumstances give rise to changes in the estimate of recoverable amount since the period
the impairment was recorded. Impairment reversals are recognized within Depreciation, Depletion, Amortization and&nbsp;Impairment. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Financial Assets  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
each reporting date, the company assesses whether there is evidence that a financial asset is impaired. If a financial asset carried at amortized cost is impaired, the amount of the loss is
measured as the difference between the amortized cost of the loan or receivable and its recoverable amount. The loss is recognized in Depreciation, Depletion, Amortization and&nbsp;Impairment. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(k)&nbsp;&nbsp;&nbsp;Assets Held For Sale  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Assets
and liabilities are classified as held for sale if their carrying amounts are expected to be recovered through a disposition rather than through continuing use. The assets or disposal groups
are measured at the lower of their carrying amount and fair value less costs to sell. Impairment losses on initial classification as held for sale and subsequent gains or losses on remeasurement are
recognized in Loss (Gain) on Disposal of Assets. Assets classified as held for sale are not depreciated, depleted or&nbsp;amortized. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(l)&nbsp;&nbsp;&nbsp;&nbsp;Provisions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Provisions
are recognized by the company when it has a legal or constructive obligation as a result of past events, it is probable that an outflow of economic resources will be required to settle the
obligation and a reliable estimate can be made of the amount of the&nbsp;obligation. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Provisions
are recognized for decommissioning and restoration obligations associated with the company's exploration and evaluation assets and property, plant and equipment. Provisions for
decommissioning and restoration obligations are measured at the present value of management's best estimate of the future cash flows required to settle the present obligation, using the
credit-adjusted risk-free interest rate. The value of the obligation is added to the carrying amount of the associated asset and amortized over the useful life of the asset. The provision
is accreted over time through charges to Financing Expenses with actual </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>90</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=13,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=267502,FOLIO='90',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_91"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>expenditures
charged against the accumulated obligation. Changes in the future cash flow estimates resulting from revisions to the estimated timing or amount of undiscounted cash flows are recognized
as a change in the decommissioning and restoration provision and related&nbsp;asset. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(m)&nbsp;&nbsp;Income Taxes  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company follows the liability method of accounting for income taxes whereby deferred income taxes may be recorded for the effect of differences between the accounting and income tax basis of an
asset or liability. Deferred income tax assets and liabilities are measured using enacted or substantively enacted income tax rates at the balance sheet date that are anticipated to apply to taxable
income in the years in which temporary differences are anticipated to be recovered or settled. Changes to these balances are recognized in earnings or in other comprehensive income in the period they
occur. Investment tax credits are recorded as an offset to the related expenditures. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(n)&nbsp;&nbsp;&nbsp;Pensions and Other Post-Retirement Benefits  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company sponsors defined benefit pension plans, defined contribution pension plans and other post-retirement benefits. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Company
contributions to the defined contribution pension plans are expensed as incurred. The cost of the defined benefit pension plans and other post-retirement benefits is actuarially
determined using the projected unit credit method based on present pay levels and management's best estimates of demographic and financial assumptions. Costs are recorded in Operating, Selling and
General expense. Any actuarial gains or losses are recognized immediately through Other Comprehensive Income and transferred directly to Retained Earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
liability recognized on the balance sheet is the present value of the defined benefit obligations less the fair value of plan&nbsp;assets. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(o)&nbsp;&nbsp;&nbsp;Share-Based Compensation Plans  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>Under
the company's share-based compensation plans, share-based awards are granted to executives, employees and non-employee directors. Compensation expense is recorded to Operating,
Selling and General expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Stock
options that give the holder the right to purchase common shares are accounted for as equity-settled plans. The expense is based on the fair value of the options at the time of grant and is
recognized over the vesting periods of the respective options. A corresponding increase is recorded to Contributed Surplus. Consideration paid to the company on exercise of options is credited to
Share Capital and the associated amount in Contributed Surplus is reclassified to Share&nbsp;Capital. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Share-based
compensation awards that settle in cash or have the option to settle in cash or shares are accounted for as cash-settled plans. These are measured at fair value each reporting
period and recognized as an expense over the vesting period, with a corresponding adjustment to liabilities. When awards are surrendered for cash, the cash settlement paid reduces the outstanding
liability. When awards are exercised for common shares, consideration paid by the holder and the previously recognized liability associated with the options are recorded to Share&nbsp;Capital. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(p)&nbsp;&nbsp;&nbsp;Financial Instruments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>All financial instruments are initially recognized at fair value on the balance sheet, net of any transaction costs (except for financial instruments classified as fair value
through profit and loss, where transaction costs are expensed as incurred). Subsequent measurement of financial instruments is based on their classification: </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Fair Value through Profit and Loss  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Financial
assets and liabilities that are held for trading or that are designated as fair value through profit and loss upon initial recognition. Changes in their fair value are recognized
in&nbsp;earnings. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B><I>Loans and Receivables  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Non-derivative
financial assets with fixed or determinable payments that are not quoted in an active market. Measured at amortized cost using the effective interest method. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Held-to-Maturity  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Consists
of non-derivative financial assets that the company has the intent and ability to hold until maturity. Measured at amortized cost using the effective interest method. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>91</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=14,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=9850,FOLIO='91',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_92"> </A>


<P style="font-family:;"><FONT SIZE=1><B><I>Other Financial Liabilities  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Financial
liabilities not classified as fair value through profit and loss. Measured at amortized cost using the effective interest method. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Available for Sale  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>All
other non-derivative financial assets are classified as available for sale, with changes in fair value recognized in other comprehensive income. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company classifies its derivative financial instruments (except those designated as effective hedging instruments) as fair value through profit and loss, its cash and cash equivalents and accounts
receivable as loans and receivables, its financial instruments included in other assets as available for sale, and its accounts payable and accrued liabilities, debt, and other long-term
liabilities as other financial liabilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company uses derivative financial instruments either to manage certain exposures to fluctuations in interest rates, commodity prices and foreign exchange rates, as part of its overall risk
management program, or to earn trading revenues. Earnings impacts from derivatives used to manage a particular risk are reported as part of Other Income in the related operating segment. Gains or
losses from trading activities are reported in Other Income as part of Corporate, Energy Trading and Eliminations. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Certain
physical commodity contracts are deemed to be derivative financial instruments for accounting purposes. Physical commodity contracts entered into for the purpose of receipt or delivery in
accordance with the company's expected purchase, sale or usage requirements are not considered to be derivative financial instruments. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Derivatives
embedded in other financial instruments or other host contracts are recorded as separate derivatives when their risks and characteristics are not closely related to those of the
host&nbsp;contract. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(q)&nbsp;&nbsp;&nbsp;Hedging Activities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company may apply hedge accounting to arrangements that qualify for designated hedge accounting treatment. Documentation is prepared at the inception of a hedge relationship in order to qualify
for hedge accounting. Designated hedges are assessed at each reporting date to determine if the relationship between the derivative and the underlying hedged exposure is still effective and to
quantify any ineffectiveness in the relationship. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>If
the derivative is designated as a fair value hedge, changes in the fair value of the derivative and changes in the fair value of the hedged item attributable to the hedged risk are recognized in
earnings. If the derivative is designated as a cash flow hedge, the effective portions of the changes in fair value of the derivative are initially recorded in other comprehensive income and are
recognized in earnings when the hedged item is realized. Ineffective portions of changes in the fair value of cash flow hedges are recognized in earnings immediately. Changes in the fair value of a
derivative designated in a fair value or cash flow hedge are recognized in the same line item as the underlying hedged&nbsp;item. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(r)&nbsp;&nbsp;&nbsp;&nbsp;Share Capital  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Common
shares are classified as equity. Incremental costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity, net of any
tax&nbsp;effects. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>(s)&nbsp;&nbsp;&nbsp;&nbsp;Dividend Distributions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Dividends
on common shares are recognized in the period in which the dividends are approved by the company's Board of&nbsp;Directors. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(t)&nbsp;&nbsp;&nbsp;&nbsp;Earnings per Share  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Basic
earnings per share is calculated by dividing the net earnings for the period by the weighted-average number of common shares outstanding during the&nbsp;period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Diluted
earnings per share is calculated by adjusting the weighted-average number of common shares outstanding for dilutive common shares related to the company's share-based compensation plans. The
number of shares included is computed using the treasury stock method. For share-based compensation plans that may be settled in ordinary shares or cash at the holder's option, the more dilutive of
cash settlement and share settlement is used in calculating diluted earnings per&nbsp;share. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>92</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=15,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=618464,FOLIO='92',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ga70001_1_93"> </A>

<P style="font-family:;"><FONT SIZE=2><B>4.&nbsp;SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Oil and Gas Reserves and Resources  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Certain
depletion, depreciation, impairment and decommissioning and restoration charges are measured based on the company's estimate of oil and gas reserves and resources. The estimation of reserves
and resources is an inherently complex process and involves the exercise of professional judgment. All reserves and certain resources have been evaluated at December&nbsp;31, 2011 by independent
petroleum consultants in accordance with National Instrument&nbsp;51-101 </FONT><FONT SIZE=1><I>Standards of Disclosure for Oil and Gas Activities</I></FONT><FONT SIZE=1>. The reserves
and resources estimates are based on the definitions and guidelines contained in the Canadian Oil and Gas Evaluation Handbook. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Oil
and gas reserves and resources estimates are based on a range of geological, technical and economic factors, including projected future rates of production, projected future commodity prices,
engineering data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Assumptions reflect market and regulatory conditions existing at December&nbsp;31, 2011,
which could differ significantly from other points in time throughout the year, or future periods. Changes in market and regulatory conditions and assumptions can materially impact the estimation of
net&nbsp;reserves. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Exploration and Evaluation Costs  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Certain
exploration and evaluation costs are initially capitalized with the intent to establish commercially viable reserves. The company is required to make estimates and judgment about future events
and circumstances regarding the economic viability of extracting the underlying resources. The costs are subject to technical, commercial and management review to confirm the continued intent to
develop and extract the underlying resources. Unsuccessful drilling, or changes to project economics, resource quantities, expected production techniques, production costs and required capital
expenditures, are important factors when making this determination. If a judgment is made that the extraction of resources is not viable, the associated exploration and evaluation costs are impaired
and charged to net&nbsp;earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Decommissioning and Restoration Costs  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company recognizes liabilities for the future decommissioning and restoration of exploration and evaluation assets and property, plant and equipment. These provisions are based on estimated costs,
which take into account the anticipated method and extent of restoration, technological advances and the possible future use of the site. Actual costs are uncertain and estimates can vary as a result
of changes to relevant laws and regulations, the emergence of new technology, operating experience, prices and closure plans. The expected timing of future decommissioning and restoration may change
due to certain factors, including reserve life. Changes to assumptions related to future expected costs, discount rates and timing may have a material impact on the amounts presented. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Deferred Income Taxes  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Deferred
tax assets are recognized when it is considered probable that deductible temporary differences will be recovered in the foreseeable future. To the extent that future taxable income and the
application of existing tax laws in each jurisdiction differ significantly from the company's estimate, the ability of the company to realize the deferred tax assets could be&nbsp;impacted. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Deferred
tax liabilities are recognized when there are taxable temporary differences that will reverse and result in a future outflow of funds to a taxation authority. The company records a provision
for the amount that is expected to be settled, which requires the application of judgment as to the ultimate outcome. Deferred tax liabilities could be impacted by changes in the company's estimate of
the likelihood of a future outflow, the expected settlement amount, and the tax laws in the jurisdictions in which the company operates. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Pensions and Other Post-Retirement Benefits  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company provides benefits to employees, including pensions and other post-retirement benefits. The cost of defined benefit pension plans and other post-retirement benefits
received by employees is determined based on actuarial valuation methods and assumptions. Changes to assumptions related to discount rates, expected return on plan assets and annual rates of
compensation increases may have a material impact on the amounts presented. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B><I>Impairment of Assets  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
cash-generating unit (CGU) is defined as the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups
of assets. The allocation of assets into CGUs requires significant judgment and interpretations with respect to the integration between assets, the existence of active markets, similar exposure to
market risks, shared infrastructures, and the way in which management monitors the&nbsp;operations. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>93</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_ga70001_1_94"> </A>

<P style="font-family:;"><FONT SIZE=1>The
recoverable amounts of CGUs and individual assets have been determined based on the higher of fair value less costs to sell or value-in-use calculations. The key
assumptions the company uses in estimating future cash flows for recoverable amounts are anticipated future commodity prices, expected production volumes, future operating and development costs, and
refining margins. Changes to these assumptions will affect the recoverable amounts of CGUs and individual assets and may then require a material adjustment to their related carrying&nbsp;value. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Derivative Financial Instruments  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>When
not directly observable in active markets, the company uses third-party models and valuation methodologies that utilize observable market data to estimate the fair value of derivative financial
instruments. In addition to market information, the company incorporates transaction specific details that market participants would utilize in a fair value measurement, including the impact of
non-performance&nbsp;risk. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>5.&nbsp;RECENTLY ANNOUNCED ACCOUNTING PRONOUNCEMENTS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Financial Instruments: Recognition and Measurement  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
November&nbsp;2009, as part of the International Accounting Standards Board's (IASB) project to replace International Accounting Standard (IAS) 39 </FONT><FONT SIZE=1><I>Financial Instruments:
Recognition and Measurement</I></FONT><FONT SIZE=1>, the IASB issued the first phase of IFRS&nbsp;9 </FONT><FONT SIZE=1><I>Financial Instruments</I></FONT><FONT SIZE=1>. It contained requirements for
the classification and measurement of financial assets, and was updated in October&nbsp;2010 to incorporate financial liabilities. The standard is applicable for annual periods starting on or after
January&nbsp;1, 2015. The full impact of this standard will not be known until the phases addressing hedging and impairments have been&nbsp;completed. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Fair Value Measurements  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
May&nbsp;2011, the IASB issued IFRS&nbsp;13 </FONT><FONT SIZE=1><I>Fair Value Measurement</I></FONT><FONT SIZE=1>, which establishes a single source of guidance for all fair value measurements,
clarifies the definition of fair value, and enhances the disclosures on fair value measurement. Prospective
application of this standard is effective for fiscal years beginning on or after January&nbsp;1, 2013, with early application permitted. The company does not anticipate significant changes to its
fair value measurements and related disclosures as a result of this&nbsp;standard. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Reporting Entity  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
May&nbsp;2011, the IASB issued IFRS&nbsp;10 </FONT><FONT SIZE=1><I>Consolidated Financial Statement</I></FONT><FONT SIZE=1>, IFRS&nbsp;11 </FONT><FONT SIZE=1><I>Joint
Arrangements</I></FONT><FONT SIZE=1>, IFRS&nbsp;12 </FONT><FONT SIZE=1><I>Disclosures of Interests in Other Entities</I></FONT><FONT SIZE=1>, and amendments to IAS&nbsp;27 </FONT> <FONT SIZE=1><I>Separate Financial Statements</I></FONT><FONT SIZE=1>
and IAS&nbsp;28 </FONT><FONT SIZE=1><I>Investments in Associates and Joint&nbsp;Ventures</I></FONT><FONT SIZE=1>.
 </FONT></P>

<P style="font-family:;"><FONT SIZE=1>IFRS&nbsp;10
creates a single consolidation model by revising the definition of control in order to apply the same control criteria to all types of entities, including joint arrangements, associates
and special purpose vehicles. IFRS&nbsp;11 establishes a principle-based approach to the accounting for joint arrangements by focusing on the rights and obligations of the arrangement and limits the
application of proportionate consolidation accounting to arrangements that meet the definition of a joint operation. IFRS&nbsp;12 is a comprehensive disclosure standard for all forms of interests in
other entities, including joint arrangements, associates and special purpose vehicles. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Retrospective
application of these standards with relief for certain transactions is effective for fiscal years beginning on or after January&nbsp;1, 2013, with earlier application permitted if all
five standards are collectively adopted. The company is currently assessing the impact of these standards. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Employee Benefits  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
June&nbsp;2011, the IASB issued amendments to IAS&nbsp;19 </FONT><FONT SIZE=1><I>Employee Benefits,</I></FONT><FONT SIZE=1> which revises the recognition, presentation and disclosure
requirements for defined benefit plans. The revised standard requires immediate recognition of actuarial gains and losses in other comprehensive income, eliminating the previous options that were
available, and enhances the disclosure requirements for defined benefit plans. Retrospective application of this standard is effective for fiscal years beginning on or after January&nbsp;1, 2013,
with early application permitted. The company does not anticipate significant impacts as a result of these amendments. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Production Stripping Costs  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
October&nbsp;2011, the IASB issued International Financial Reporting Interpretation Committee (IFRIC) 20 </FONT><FONT SIZE=1><I>Stripping Costs in the Production Phase of a Surface
Mine</I></FONT><FONT SIZE=1>. This interpretation requires the capitalization and depreciation of stripping costs in the production phase if an entity can demonstrate that it is probable that future
economic benefits will be realized, the costs can be reliably measured and the entity can identify the component of the ore body for which access has been improved. Retrospective application of this
interpretation is effective for annual periods beginning on or after January&nbsp;1, 2013, with earlier application permitted. The company does not anticipate significant impacts as a result of this
interpretation. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>94</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=17,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=253056,FOLIO='94',FILE='DISK135:[12ZAL1.12ZAL70001]GA70001A.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_gb70001_1_95"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=2><B>6.&nbsp;FIRST-TIME ADOPTION OF IFRS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Effective
January&nbsp;1, 2011, the company began reporting under IFRS, and the accounting policies disclosed in note&nbsp;3 to&nbsp;these consolidated financial statements have been applied in
preparing the financial statements for the years ended December&nbsp;31, 2011 and 2010 and in the preparation of the company's opening balance sheet at January&nbsp;1, 2010 (Transition Date). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
previous years, the company prepared its consolidated financial statements in accordance with Previous GAAP. Reconciliations from Previous GAAP to IFRS for comparative periods are provided on the
following pages. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Reconciliation of Equity at December&nbsp;31, 2010  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Previous<BR>
GAAP&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Presentation<BR>
Changes for<BR>
Discontinued<BR>
Operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Other<BR>
Presentation<BR>
Changes&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS<BR>
Adjustments&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Assets</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Cash and cash equivalents</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;253</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;253</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Inventories</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;141</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;141</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Income taxes receivable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>734</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>734</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>210</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(210</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Assets held for sale&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>658</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>762</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total current assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;513</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>658</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(210</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;967</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net&nbsp;<SUP>(5)(6)(7)(8)</SUP><SUP>(9)(10)(14)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55&nbsp;290</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;961</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;371</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;958</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Exploration and evaluation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;961</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;961</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>451</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(221</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;201</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;201</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Goodwill and other intangible assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;422</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;422</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>56</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Assets of discontinued operations</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>658</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(658</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70&nbsp;169</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(197</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;365</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1><B>Liabilities and Shareholders' Equity</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current liabilities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Short-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;982</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Current portion of long-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>518</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>518</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities&nbsp;<SUP>(11)(12)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;942</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(604</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>105</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;443</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Current portion of provisions</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>604</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>608</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Income taxes payable</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>929</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>929</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(37</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Liabilities associated with assets held for sale&nbsp;<SUP>(5)(6)(14)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>586</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="26%" style="font-family:;"><FONT SIZE=1>Total current liabilities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;526</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;945</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;068</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Long-term debt&nbsp;<SUP>(7)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;669</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;982</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>142</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accrued liabilities and other</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;154</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4&nbsp;154</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other long-term liabilities&nbsp;<SUP>(11)(12)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;861</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>242</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;103</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Provisions&nbsp;<SUP>(5)(6)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;293</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>211</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;504</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes&nbsp;<SUP>(14)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;615</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(160</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(544</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;911</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Liabilities of discontinued operations</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity&nbsp;<SUP>(5)(6)(7)</SUP><SUP>(8)(9)(10)</SUP><SUP>(11)(12)(13)(14)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;721</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;529</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total liabilities and shareholders' equity</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70&nbsp;169</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(197</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;365</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1>See footnotes starting on page&nbsp;98. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>95</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=18,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=334165,FOLIO='95',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001A.;40',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_96"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Reconciliation of Equity at January&nbsp;1, 2010  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Previous<BR>
GAAP&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><BR>
<BR>
Presentation<BR>
Changes&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS<BR>
Adjustments&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Assets</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>505</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>505</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;936</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;936</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Inventories</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;971</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;971</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Income taxes receivable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>587</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>587</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>332</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(332</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total current assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;331</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(332</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;999</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net&nbsp;<SUP>(5)(7)(8)(9)(14)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57&nbsp;485</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4&nbsp;297</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;632</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;556</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Exploration and evaluation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;342</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;342</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>536</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(277</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;201</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;201</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Goodwill and other intangible assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;433</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;433</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>193</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>210</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;746</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(315</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;632</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><BR><FONT SIZE=1><B>Liabilities and Shareholders' Equity</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Short-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;315</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;317</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Current portion of long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities&nbsp;<SUP>(11)(12)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;529</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(882</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>126</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;773</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Current portion of provisions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>882</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>882</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Income taxes payable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;274</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;274</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Total current liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;848</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;297</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>126</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;271</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Long-term debt&nbsp;<SUP>(7)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;855</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;315</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>139</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;679</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accrued liabilities and other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;062</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5&nbsp;062</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other long-term liabilities&nbsp;<SUP>(11)(12)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;053</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;073</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Provisions&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>296</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;305</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred income taxes&nbsp;<SUP>(14)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;870</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(297</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(587</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;986</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity&nbsp;<SUP>(5)(7)(8)</SUP><SUP>(9)(11)(12)</SUP><SUP>(13)(14)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;111</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;626</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;485</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total liabilities and shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;746</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(315</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;632</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>See footnotes starting on page&nbsp;98. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>96</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=19,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=585578,FOLIO='96',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001A.;40',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_97"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Reconciliation of Comprehensive Income for the Year Ended December&nbsp;31, 2010  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Previous<BR>
GAAP&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Presentation<BR>
Changes for<BR>
Discontinued<BR>
Operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Other<BR>
Presentation<BR>
Changes&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS<BR>
Adjustments&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>IFRS</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Revenues and Other Income</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Operating revenues</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33&nbsp;198</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>911</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;106</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Less: Royalties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;937</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(41</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;978</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;261</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>870</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(128</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Other income</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>491</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>110</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;752</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>870</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Expenses</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Purchases of crude oil and products</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;911</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(62</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;831</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Operating, selling and general&nbsp;<SUP>(7)(11)(12)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;810</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>185</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;984</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Transportation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>656</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>703</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment&nbsp;<SUP>(5)(7)(8)(9)(10)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;813</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>264</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(274</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;803</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Accretion of asset retirement obligations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>178</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(205</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Exploration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>197</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>218</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Gain on disposal of assets&nbsp;<SUP>(6)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(107</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(814</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(54</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(975</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Project start-up costs</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Financing expenses (income)&nbsp;<SUP>(5)(7)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>205</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>187</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27&nbsp;505</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(314</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(345</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26&nbsp;828</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Earnings before Income Taxes</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;247</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;184</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>345</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Income Taxes</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Current</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;004</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>192</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;196</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Deferred&nbsp;<SUP>(14)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>555</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;559</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>301</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Net Earnings from Continuing Operations</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;688</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>883</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>258</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Net Earnings from Discontinued Operations</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>883</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(883</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Net Earnings</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;571</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>258</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Other Comprehensive Income (Loss)</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment&nbsp;<SUP>(5)(11)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(503</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(437</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment relating to assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(63</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Foreign currency translation reclassified to net earnings&nbsp;<SUP>(6)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Cash flow hedges reclassified to net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans&nbsp;<SUP>(11)(14)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(152</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(152</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Other Comprehensive Loss</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(153</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Total Comprehensive Income</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
3&nbsp;120</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
105</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
3&nbsp;225</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=14 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>See footnotes starting on page&nbsp;98. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>97</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=20,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=6456,FOLIO='97',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001B.;12',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_98"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Explanation of Significant Adjustments  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
amounts reported under Previous GAAP. Previous GAAP balances as at January&nbsp;1, 2010 agree to December&nbsp;31, 2009 balances reported in the company's 2009
Annual&nbsp;Report. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=1>Energy
Supply and Trading Activities Income and Expenses have been reclassified to conform to net basis presentation adopted in the second quarter of 2011, with net amounts now recorded in Other
Income (see&nbsp;note&nbsp;8). </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Certain
assets held for sale reported as discontinued operations under Previous GAAP are not classified as such under&nbsp;IFRS.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
other presentation changes to comply with IFRS. A description of significant reclassifications is as&nbsp;follows:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Exploration
and Evaluation assets reported within Property, Plant and Equipment under Previous GAAP are reflected as a separate line under&nbsp;IFRS.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Short-term
debt instruments supported by a revolving credit facility with a separate lender are classified as Short-Term Debt under IFRS. These
short-term debt instruments were classified as Long-Term Debt under Previous&nbsp;GAAP.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Liabilities
encompassing significant uncertainty in timing or amount are reported as Provisions under IFRS. Under Previous GAAP, these liabilities were classified within
Accounts Payable and Accrued Liabilities, and Accrued Liabilities and&nbsp;Other. </FONT></DD></DL>
</DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=1>There
were no presentation changes made to the Consolidated Statements of Cash&nbsp;Flows. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
the impact on financial statements of transition to IFRS from Previous GAAP, except for presentation changes. The significant adjustments are described below, with the
resulting impacts on income taxes described in paragraph&nbsp;(14).
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Decommissioning and Restoration</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, increases in the estimated cash flows were discounted using the current credit-adjusted risk-free rate, while downward revisions in the estimated cash flows were
discounted using the credit-adjusted risk-free rate that existed when the original liability was recognized. Under IFRS, estimated cash flows are discounted using the credit-adjusted
risk-free rate that exists at the balance sheet&nbsp;date. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
accordance with IFRS&nbsp;1, the company elected to remeasure its decommissioning and restoration costs at the Transition Date and has estimated the related asset by discounting the liability to
the date in which the liability arose and recalculated the accumulated depreciation, depletion and amortization under IFRS. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31,&nbsp;2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(688</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(690</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Liabilities associated with assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Provisions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>217</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>296</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(927</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(986</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Financing expenses (income)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(6)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Dispositions</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>The
net carrying values of disposed properties have been adjusted to reflect their respective IFRS adjustments, resulting in revised gains or losses upon disposal of the assets. The impacts on the
financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Liabilities associated with assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Provisions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Gain on disposal of assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation reclassified to net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>98</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=21,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=797041,FOLIO='98',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001B.;12',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_99"> </A>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(7)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Leases</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>In
accordance with IFRS&nbsp;1, the company elected to evaluate whether certain arrangements contain a lease based on the facts and circumstances existing at Transition Date. Pursuant to such
evaluation, the company has accounted for certain arrangements as finance leases under IFRS. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1, 2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>142</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>139</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(41</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating, selling and general</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Financing expenses (income)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(8)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Derecognition of Assets</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, carrying amounts of property, plant and equipment assets were derecognized when no future economic benefits were expected from their use. Under IFRS, this derecognition of assets
occurs at the component level. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(141</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(141</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(113</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(9)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Fair Value as Deemed Cost</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>The
company has applied the IFRS&nbsp;1 election to record certain assets of property, plant and equipment at fair value on the Transition Date. The exemption has been applied to refinery assets
located in Eastern Canada and certain natural gas assets in Western Canada. When estimating fair value, market information for similar assets was used, and where market information was not available,
management relied on internally generated cash flow models using discount rates specific to the asset and long-term forecasts of commodity prices and refining margins. The aggregate of
these fair values was $1.370&nbsp;billion, resulting in a reduction of the carrying amount of property, plant and equipment as at January&nbsp;1, 2010. Under Previous GAAP, impairment losses were
recorded in the third quarter of 2010 for certain of these natural gas properties. There were no impairment losses recognized during 2010 under IFRS, as these properties were adjusted to fair value at
the Transition Date. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(527</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(906</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(527</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(906</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(379</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(10)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Impairment of Assets</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, an item of property, plant and equipment is deemed recoverable if the undiscounted future cash flows exceed the net carrying amount of the asset group. Under IFRS, recoverability
of property, plant and equipment is based on the higher of fair value less costs to sell and value in use of the&nbsp;CGU. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Under
IFRS, the company recognized impairment losses for certain CGUs within the Exploration and Production operating segment during 2010. The impaired natural gas assets are located within the
Western Canadian Sedimentary Basin and were grouped into CGUs based on similar geological structure, shared infrastructure and similar exposure to market risks. Declining long-term natural
gas prices have resulted in the carrying amounts for these CGUs exceeding their recoverable amounts. Recoverable amounts have been determined using the fair value less costs to sell method and based
on internally generated </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>99</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=22,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=635674,FOLIO='99',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001B.;12',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_100"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>cash
flow projections. In determining fair value less costs to sell, the company considered recent transactions within the industry, long-term views of natural gas prices, externally
evaluated reserve volumes, and discount rates specific to the asset. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(112</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(112</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>112</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(11)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Employee Benefits</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, unamortized actuarial gains and losses in respect of the company's defined benefit pension plans were recognized into earnings over the expected average remaining service life of
employees. In accordance with IFRS&nbsp;1, the company has elected to recognize all cumulative actuarial gains and losses directly in Retained Earnings at the Transition Date. Under IFRS, actuarial
gains and losses incurred in the period are recorded in Other Comprehensive Income and then transferred directly to Retained Earnings. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, the expense recognition period for other post-retirement benefit plans began on the employee's date of hire. Under IFRS, this period now commences when the employee
reaches 45&nbsp;years of age, the point at which the employee first starts accruing benefits under these&nbsp;plans. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
impacts on the financial statements were as follows: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other long-term liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>215</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(227</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(30</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating, selling and general</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation adjustment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(201</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(12)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Share-Based Compensation</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, the company recorded obligations for cash-settled share-based compensation plans using the intrinsic value method. Under IFRS, obligations for these same plans are
recorded as a liability using the fair value method. For equity-settled share-based compensations plans, the company accrues the cost of employee stock options over the vesting period using the graded
method of amortization rather than the straight-line method, which the company used under Previous GAAP. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other long-term liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Contributed surplus</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(124</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(126</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating, selling and general</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>100</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=23,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=69546,FOLIO='100',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001B.;12',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_101"> </A>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(13)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Foreign Exchange</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>In
accordance with IFRS&nbsp;1, the company elected at the Transition Date to transfer all foreign currency translation differences in respect of foreign operations that arose prior to the
Transition Date to Retained Earnings. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

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<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign currency translation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>248</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>248</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(248</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(248</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(14)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Income Taxes</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>The
company recognized deferred income taxes primarily in respect of the above changes. The impacts on the financial statements were as&nbsp;follows: </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at and for<BR>
the year ended<BR>
Dec&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>As at<BR>
Jan&nbsp;1,&nbsp;2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(26</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Liabilities associated with assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Deferred income taxes&nbsp;&#150;&nbsp;liability</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(544</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(587</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Retained earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>523</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>561</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Deferred income taxes&nbsp;&#150;&nbsp;expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Actuarial loss on employee retirement benefit plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(15)</FONT></DT><DD style="font-family:;"><FONT SIZE=1><I>Earnings per Common Share</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Under
Previous GAAP, the dilutive impact of options with tandem stock appreciation rights or cash payment alternatives was not included in the calculation of diluted earnings per share. Under IFRS,
these awards are considered potentially dilutive and are included in the calculation of the company's diluted net earnings per share calculation if they have a dilutive impact in the&nbsp;period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
impact on the net earnings amount used in the calculation of diluted earnings per share for the year ended December&nbsp;31, 2010 can be seen in note&nbsp;13. </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(16)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
addition to the IFRS&nbsp;1 elections described in this note, the company has also applied the following elections:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Business
combinations and acquisitions of interests in associates and joint ventures that occurred prior to the Transition Date were not restated in accordance with IFRS. An
impairment test of associated goodwill was performed as at the Transition Date and no impairment losses were identified.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Borrowing
costs capitalized for qualifying projects prior to the Transition Date were not restated for the specific measurement rules required by&nbsp;IFRS. </FONT></DD></DL>
</DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>7.&nbsp;SEGMENTED INFORMATION  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's operating segments are reported based on the nature of their products and services. The following summary describes the operations in each of the&nbsp;segments: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Oil
Sands includes the company's operations in northeast Alberta to develop and produce synthetic crude oil and related products, through the recovery and upgrading of
bitumen from mining and in situ operations. This segment also includes the company's 12% ownership interest in the Syncrude oil sands mining and upgrading joint venture, located near Fort McMurray,
Alberta.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Exploration
and Production includes exploration and production of natural gas, crude oil and natural gas liquids in Western Canada, offshore activity in East Coast Canada,
with interests in the Hibernia, Terra Nova, White Rose and Hebron oilfields, and the exploration and production of crude oil and natural gas in the United&nbsp;Kingdom (U.K.), Norway, Libya
and&nbsp;Syria.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Refining
and Marketing includes the refining of crude oil products, and the distribution and marketing of these and other purchased products through refineries located in
Canada and the United&nbsp;States (U.S.), as well as a lubricants plant located in Eastern&nbsp;Canada. </FONT></DD></DL>
</UL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>101</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=24,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=893203,FOLIO='101',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001C.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
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<UL>
<UL>
</UL>
</UL>

<P style="font-family:;"><FONT SIZE=1>The
company also reports activities not directly attributable to an operating segment under Corporate, Energy Trading and Eliminations. This includes investments in renewable energy projects, and
results relating to energy trading activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
the first quarter of 2011, the company combined its International and Offshore and Natural Gas segments into one new segment, Exploration and Production. All prior periods have been reclassified to
conform to these segment definitions. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Intersegment
sales of crude oil and natural gas are accounted for at market values and included, for segmented reporting, in revenues of the segment making the transfer and expenses of the segment
receiving the transfer. Intersegment amounts are eliminated on consolidation. The company has one customer that individually represents 11% of the consolidated revenues for the year ended
December&nbsp;31, 2011. No other customers represent more than 10% of the consolidated revenues for the year ended December&nbsp;31, 2011 (2010&nbsp;&#150;&nbsp;nil). </FONT></P>

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<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration<BR>
and Production</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and<BR>
Marketing</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Corporate, Energy<BR>
Trading and<BR>
Eliminations</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>For the years ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><B>Revenues and Other Income</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Gross revenues</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;581</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;052</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;293</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;326</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>25&nbsp;657</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;653</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>77</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>41&nbsp;608</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;061</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Intersegment revenues</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;420</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;638</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>491</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>717</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>56</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>207</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;967</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;562</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Less: Royalties</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(799</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(681</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;472</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;377</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2&nbsp;271</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;058</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12&nbsp;202</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;312</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;666</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>25&nbsp;713</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;860</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;890</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;532</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;337</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Other income</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>415</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>261</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>58</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>367</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(96</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>453</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12&nbsp;233</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;424</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;309</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;927</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>25&nbsp;771</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;881</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;523</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;628</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;790</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;604</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><BR><FONT SIZE=1><B>Expenses</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Purchases of crude oil and products</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;381</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;070</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>585</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>240</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20&nbsp;547</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;920</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;790</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;399</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18&nbsp;723</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;831</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Operating, selling and general</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;169</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;537</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>850</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>933</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;182</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;200</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>223</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>314</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;424</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;984</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Transportation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>399</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>291</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>116</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>219</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>200</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(18</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>736</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>703</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;374</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;310</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;035</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;978</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>444</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>440</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>99</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;952</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;803</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Exploration</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>56</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>60</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>212</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>116</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>218</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>122</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(998</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(16</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(30</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>136</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(975</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Project start-up costs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>163</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>163</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Financing expenses (income)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>74</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>65</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>319</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>471</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>187</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;738</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;406</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;742</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;676</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23&nbsp;389</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;741</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;148</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;995</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32&nbsp;721</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26&nbsp;828</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><B>Earnings (Loss) before Income Taxes</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;495</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;018</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;567</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;251</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;382</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;140</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(375</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(633</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;069</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>892</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>498</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;261</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;313</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>656</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>321</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(44</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(185</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;765</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1><B>Net Earnings (Loss)</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;603</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;520</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;938</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>819</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(331</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(448</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="25%" style="font-family:;"><BR><FONT SIZE=1><B>Capital and Exploration Expenditures</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
5&nbsp;100</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
3&nbsp;709</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
874</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
1&nbsp;274</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
633</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
667</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
243</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
360</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
6&nbsp;850</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
6&nbsp;010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
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<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="52%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Total Assets<BR> </B></FONT><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>44&nbsp;217</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39&nbsp;382</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;657</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>14&nbsp;290</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;899</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;218</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13&nbsp;150</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;292</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;748</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;120</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;034</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;176</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>74&nbsp;777</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
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<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1><B>Geographical Information<BR>
Operating Revenues, net of Royalties<BR> </B></FONT><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31&nbsp;876</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24&nbsp;053</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;461</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;950</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;337</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>102</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=25,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=774150,FOLIO='102',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001C.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_103"> </A>

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<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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</TABLE>
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<TR VALIGN="TOP">
<TD WIDTH="52%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Non-Current Assets</B></FONT><FONT SIZE=1>&nbsp;<SUP>(1)</SUP><BR></FONT> <FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Canada</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>53&nbsp;794</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50&nbsp;033</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50&nbsp;348</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>Foreign</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;799</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;538</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;234</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>60&nbsp;593</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57&nbsp;571</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;582</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Excludes
deferred income tax assets. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>8.&nbsp;OTHER INCOME  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Other Income consists of the following: </FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Risk management activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(22</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Energy trading activities&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Change in fair value of contracts</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>301</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Unrealized losses on inventory valuation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(19</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Investment and interest income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>141</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Renewable energy grants</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>64</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Terra Nova redetermination&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>295</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>453</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
the second quarter of 2011, the company completed a review of its energy supply and trading activities. It was determined that the nature and purpose of transactions previously
presented on a gross basis in Energy Supply and Trading Activities income and expenses in the Consolidated Statements of Comprehensive Income have evolved such that they are more appropriately
reflected through net presentation. Realized and unrealized gains and losses, and the underlying settlement of these contracts, is now recognized and recorded on a net&nbsp;basis. <BR></FONT>
<BR>

<P style="font-family:;"><FONT SIZE=1>Prior
period comparative figures have been reclassified for comparability with the current period presentation. The impact is as&nbsp;follows: </FONT></P>

</DD></DL>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="RIGHT"><TABLE WIDTH="96%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="74%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions, increase/(decrease))</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended<BR>
December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Energy supply and trading activities income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;700</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Other income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Energy supply and trading activities expenses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;598</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
2010, the joint owners of the Terra Nova oilfield finalized the redetermination of working interests under the Terra Nova Development and Operating Agreement following field payout
on February&nbsp;1, 2005. Suncor's working interest increased to 37.675% from 33.990%, and the other owners agreed to reimburse the company for its increased working interest from February&nbsp;1,
2005 to December&nbsp;31, 2010. As a result, the company recognized income of $295&nbsp;million in&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>9.&nbsp;OPERATING, SELLING AND GENERAL  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Operating, Selling and General expense consists of the following: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Contract services</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;107</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;997</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Employee benefits&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;062</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;149</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Materials</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>882</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;175</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Energy</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>712</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>546</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>661</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>117</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;424</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company incurred $2.5&nbsp;billion of employee benefits costs for the year ended December&nbsp;31, 2011 (2010&nbsp;&#150;&nbsp;$2.4&nbsp;billion), of
which $2.1&nbsp;billion (2010&nbsp;&#150;&nbsp;$2.1&nbsp;billion) was recorded as employee benefits expense in Operating, Selling and General expense. Employee benefits
expense includes salaries, benefits and share-based compensation. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>10.&nbsp;ASSET IMPAIRMENT  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Libya  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In the second quarter of 2011, the company recognized impairment losses of $514&nbsp;million related to Libyan assets in its Exploration and Production business. At that time,
production had been shut-in due to political violence in&nbsp;Libya. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
calculating the company's impairment in the second quarter of 2011, the recoverable amount was determined using a value-in-use methodology. The company used an expected cash
flow approach based on 2010&nbsp;year-end reserves data updated for current price forecasts, with three scenarios representing i)&nbsp;resumption of normal operations after one year,
ii)&nbsp;resumption of </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>103</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=26,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=1010138,FOLIO='103',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001C.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gb70001_1_104"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>normal
operations after two years, and iii)&nbsp;total loss. These scenarios were probability-weighted based on the company's best estimates, and present valued using a risk-adjusted
discount rate of 17%. The two scenarios where the company resumes production incorporated rebuilding costs. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
impairment losses were recorded as part of Depreciation, Depletion, Amortization and Impairment expense in the Consolidated Statements of Comprehensive Income, and charged against Property, Plant
and Equipment ($259&nbsp;million), Exploration and Evaluation assets ($211&nbsp;million), and Inventories ($44&nbsp;million) in the Consolidated Balance&nbsp;Sheets. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
the third quarter of 2011, a change in the Libyan government resulted in the lifting of certain sanctions that were impacting the company's operations in the country. In the fourth quarter of
2011, the company's joint venture partner restarted
production in certain fields, and in January&nbsp;2012 the company started to receive production payments. In addition, the joint venture partner confirmed the existence of crude oil written off in
the second quarter of 2011, and the company reversed the $11&nbsp;million impairment charge that related to crude oil inventories. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Discussions
with the Libyan authorities have commenced on the status of existing contract terms, including production volumes and time frames for future exploration commitments. However, there is
unpredictability around current production levels and ramp-up expectations, and the extent of the damage to the company's assets has not yet been fully assessed. Therefore, at
December&nbsp;31, 2011, there has been no change in the company's overall assessment of the impairment, and no reversal of impairment has been recognized except for the $11&nbsp;million crude oil
inventories. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Syria  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In December&nbsp;2011, the company suspended its operations with the Syrian General Petroleum Company and ceased recording production or revenues. These actions were taken as
a result of sanctions announced by the European Union on December&nbsp;2,&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>An
impairment test was performed on the company's Syrian assets, which determined that the assets were not impaired at December&nbsp;31, 2011. The recoverable amount was determined using the
value-in-use methodology. The company used an expected cash flow approach based on current price forecasts and 2011&nbsp;year-end reserves data, which take into
account the long-term nature of natural gas reserves associated with these assets. The company used four scenarios representing i)&nbsp;resumption of normal operations after six months,
ii)&nbsp;resumption of normal operations after one year, iii)&nbsp;resumption of normal operations after two years, and iv)&nbsp;total loss. These scenarios were probability-weighted based on
the company's best estimates, and present valued using a risk-adjusted discount rate of 17%. The three scenarios where the company resumes normal operations assume that upon return the
company will receive payment for any production during its&nbsp;absence. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
calculation of value-in-use is most sensitive to management's assumption on the timing of resumption of normal operations. If the probability weighting in the cash flow
model was adjusted to reflect no probability of the company resuming normal operations within the next twelve months, the company's Syrian assets may be&nbsp;impaired. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
carrying value of the company's net assets in Syria at December&nbsp;31, 2011 was approximately $900&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Other  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>During the fourth quarter of 2011, the company recognized a write-down of $100&nbsp;million related to certain natural gas CGUs in the Exploration and Production
business due to a decrease in price forecasts. The recoverable amount was determined using a fair value less costs to sell methodology, with the expected future cash flows based on
2011&nbsp;year-end reserves data with third-party price forecasts and a discount rate of&nbsp;12%. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
the second quarter of 2010, the company recognized a write-down of $189&nbsp;million related to certain extraction equipment in the Oil Sands operating segment. These assets were
being used in the development of an alternative extraction process to crush and slurry oil sands at the mine face, which the company has discontinued. Also during the second quarter of 2010, the
company recognized a write-down of $44&nbsp;million of certain land leases in the Exploration and Production operating segment. These assets are in areas of Western Canada and Alaska
that the company does not plan to pursue given its strategic business alignment. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
the third quarter of 2010, the company recognized a write-down of $106&nbsp;million related to certain North Sea assets in the Exploration and Production operating segment. An
agreement to sell these assets was entered into during the quarter and the assets were written down to reflect fair value less cost to&nbsp;sell. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>During
the fourth quarter of 2010, the company recognized a charge of $112&nbsp;million to reflect the write-down of certain assets in the Exploration and Production operating segment to
reflect fair value based on discounted future cash&nbsp;flows. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>These
charges are included in Depreciation, Depletion, Amortization and Impairment expense in the Consolidated Statements of Comprehensive Income. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>104</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=27,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=683853,FOLIO='104',FILE='DISK135:[12ZAL1.12ZAL70001]GB70001C.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_gc70001_1_105"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=2><B>11.&nbsp;FINANCING EXPENSES  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Interest on debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>661</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>704</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Capitalized interest at 6.0% (2010&nbsp;&#150;&nbsp;5.4%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(559</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(301</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Interest expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>102</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>403</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Accretion</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>157</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>183</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(426</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="67%" style="font-family:;"><FONT SIZE=1>Other foreign exchange loss (gain)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(25</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total financing expenses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>471</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>187</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B>12.&nbsp;INCOME TAXES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Income Tax Expense  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Current year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;103</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;172</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Adjustments for prior years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Origination and reversal of temporary differences</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;258</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>770</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Adjustments for prior years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(56</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Changes in tax rates and legislation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>442</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;765</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>Tax Recognized in Other Comprehensive Income  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Employee retirement benefit plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(117</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(117</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>There was no income tax recognized directly in equity during 2010 and 2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Reconciliation of Effective Tax Rate  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The provision for income taxes reflects an effective tax rate that differs from the statutory tax rate.&nbsp;A reconciliation of the difference is as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Earnings before income tax</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;069</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Canadian statutory tax rate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27.19</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>%</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.91</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Statutory tax</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;922</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;670</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Add (deduct) the tax effect of:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Non-taxable component of capital gains and losses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(33</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(67</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Share-based compensation and other permanent items</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>34</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Assessments and adjustments</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(38</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate and legislative changes&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>442</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(15</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Canadian tax rate differential</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(116</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(106</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Foreign tax rate differential</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>383</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>440</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Non-taxable Libyan impairment charge</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>142</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;765</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;947</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
March&nbsp;2011, the U.K.&nbsp;government substantively enacted a 12% increase in the supplementary charge on U.K.&nbsp;oil and gas profits. Accordingly, in the first quarter
of 2011, the company recognized an increase in deferred tax expense of $442&nbsp;million related to the revaluation of deferred income tax&nbsp;balances. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>105</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=28,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=405992,FOLIO='105',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001A.;32',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_106"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Deferred Income Tax Balances  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Deferred income tax expense and net liabilities in the company's financial statements were comprised of the&nbsp;following: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="34%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Consolidated&nbsp;Statements&nbsp;of<BR>
Comprehensive Income</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Balance Sheets&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=7 ALIGN="RIGHT" style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec 31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec 31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan 1<BR>
2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>967</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>612</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;725</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;453</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;236</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Risk management and energy trading</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Decommissioning and restoration provision</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>205</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>178</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(507</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(713</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(891</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Employee retirement benefit plans</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>73</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(518</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(492</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(393</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Tax loss carry-forwards</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(213</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(251</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(558</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Partnership deferral reserve</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>594</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>594</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>121</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(86</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(182</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(176</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;644</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;659</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;842</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
deferred income tax liability of $9.719&nbsp;billion at December&nbsp;31, 2011 (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$7.911&nbsp;billion,
January&nbsp;1, 2010&nbsp;&#150;&nbsp;$7.986&nbsp;billion) includes $9.713&nbsp;billion (December&nbsp;31,
2010&nbsp;&#150;&nbsp;$7.911&nbsp;billion, January&nbsp;1, 2010&nbsp;&#150;&nbsp;$7.724&nbsp;billion) that will be settled beyond the next
twelve&nbsp;months. <BR></FONT>
<BR>

<P style="font-family:;"><FONT SIZE=1>The
deferred income tax asset of $60&nbsp;million at December&nbsp;31, 2011 (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$69&nbsp;million, January&nbsp;1,
2010&nbsp;&#150;&nbsp;$210&nbsp;million) includes $47&nbsp;million (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$51&nbsp;million, January&nbsp;1,
2010&nbsp;&#150;&nbsp;$94&nbsp;million) that will be recovered beyond the next twelve&nbsp;months. </FONT></P>

</DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>Change in Deferred Income Tax Balances  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Beginning of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;842</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Recognized in deferred income tax expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;644</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Recognized in other comprehensive income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(117</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>290</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(636</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>End of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;659</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;842</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>No deferred tax liability has been recognized at December&nbsp;31, 2011 on temporary differences of approximately $9&nbsp;billion
(2010&nbsp;&#150;&nbsp;$8&nbsp;billion) associated with earnings retained in our investments in foreign subsidiaries, as the company is able to control the timing of the
reversal of these differences. Based on current plans, repatriation of funds in excess of foreign reinvestment will not result in material additional income tax expense. Deferred distribution taxes
associated with international business operations have not been&nbsp;recorded. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>13.&nbsp;EARNINGS PER COMMON SHARE  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Dilutive impact of accounting for awards as equity-settled&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(86</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings&nbsp;&#150;&nbsp;diluted</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;218</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;823</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(millions of common shares)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Weighted-average number of common shares</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;571</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;562</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Dilutive securities:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Effect of share options</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Weighted-average number of diluted common shares</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;582</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;576</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(dollars per common share)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Basic earnings per share</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.74</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.45</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Diluted earnings per share</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.67</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.43</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Options
with tandem stock appreciation rights or cash payment alternatives are accounted for as cash-settled plans. As these awards can be exchanged for common shares of
the company, they are considered potentially dilutive and are included in the calculation of the company's diluted net earnings per share calculation if they have a dilutive impact in the period.
Accounting for these awards as equity-settled was determined to have the most dilutive impact for the years ended December&nbsp;31, 2011 and&nbsp;2010. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>106</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=29,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=52408,FOLIO='106',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001A.;32',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_107"> </A>

<P style="font-family:;"><FONT SIZE=2><B>14.&nbsp;CASH AND CASH EQUIVALENTS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>832</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>358</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>205</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Cash equivalents</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;971</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>719</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>300</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;803</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>505</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B>15.&nbsp;SUPPLEMENTAL CASH FLOW INFORMATION  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The (increase) decrease in non-cash working capital is comprised of: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(263</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(568</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Inventories</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;064</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(190</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Accounts payable and accrued liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;322</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>130</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Provisions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>203</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(274</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Income taxes payable/receivable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>70</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(461</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>268</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;363</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Relating to:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>242</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;170</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Investing activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(193</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>16.&nbsp;INVENTORIES  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Crude oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;321</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>916</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>781</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Refined products</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;741</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;289</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;303</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Materials, supplies and merchandise</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>592</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>532</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Energy trading commodity inventories</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>551</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>372</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>355</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Total&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;205</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;141</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;971</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>At
December&nbsp;31, 2010, inventories of $11&nbsp;million were reclassified to assets held for&nbsp;sale. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>During 2011, product inventories of $18.7&nbsp;billion (2010&nbsp;&#150;&nbsp;$14.8&nbsp;billion) were expensed. There was a
write-down of inventories of $33&nbsp;million in 2011&nbsp;&#150;&nbsp;see note&nbsp;10 (2010&nbsp;&#150;&nbsp;$nil). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>17.&nbsp;ASSETS HELD FOR SALE  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>In the first quarter of 2011, the company completed the sale of certain non-core U.K.&nbsp;offshore assets for net proceeds of
&pound;90&nbsp;million (Cdn$140&nbsp;million). In the second and third quarters of 2011, the company completed the sale of certain non-core assets located in northern Alberta and
northeast British Columbia for net proceeds of $164&nbsp;million. The company recognized a loss of $31&nbsp;million on these disposals in&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>During
2010, the company completed the sale of a number of non-core North American oil and gas properties for net proceeds of approximately $1.7&nbsp;billion. The company also completed
the disposition of certain international operations, including its shares in Petro-Canada Netherlands&nbsp;BV, assets in Trinidad and Tobago, and certain U.K.&nbsp;offshore assets, for net
proceeds of approximately $900&nbsp;million. The company recognized a gain of $868&nbsp;million on these disposals in&nbsp;2010. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>107</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=30,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=641299,FOLIO='107',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001A.;32',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_108"> </A>

<P style="font-family:;"><FONT SIZE=1>The
company had no assets or liabilities classified as assets held for sale at December&nbsp;31, 2011 or January&nbsp;1, 2010. The assets and liabilities classified as held for sale at
December&nbsp;31, 2010 were as&nbsp;follows: </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2010</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Assets</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Current assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Property, plant and equipment, net</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>635</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Exploration and evaluation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>762</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Liabilities</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Current liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Provisions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>311</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>177</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="78%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>586</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>18.&nbsp;PROPERTY, PLANT AND EQUIPMENT  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil and Gas<BR>
Properties</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Plant and<BR>
Equipment</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Total</B></FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cost</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>At January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19&nbsp;947</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39&nbsp;179</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;126</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Additions</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;363</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;356</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;719</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Transfers from exploration and evaluation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Changes in decommissioning and restoration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(67</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Disposals</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;947</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(739</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;686</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Transfers to assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(711</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(711</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Foreign exchange adjustments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(607</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(97</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(704</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;981</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42&nbsp;717</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;698</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Additions</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;358</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;952</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;310</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Transfers from exploration and evaluation</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>237</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>237</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Acquisitions (note&nbsp;33)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>126</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>126</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Changes in decommissioning and restoration</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;862</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;877</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Disposals</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(405</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2&nbsp;717</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;122</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Foreign exchange adjustments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>256</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>50</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>At December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20&nbsp;289</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>45&nbsp;143</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>65&nbsp;432</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Accumulated provision</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>At January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;076</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5&nbsp;494</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(7&nbsp;570</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Depreciation and depletion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;647</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;441</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;088</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Impairment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(218</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(218</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Disposals</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>795</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>208</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;003</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Transfers to assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Foreign exchange adjustments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;028</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6&nbsp;712</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9&nbsp;740</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Depreciation and depletion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;622</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;770</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3&nbsp;392</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Impairment</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(359</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(359</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Disposals</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>316</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>356</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>672</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Foreign exchange adjustments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(13</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(11</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(24</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>At December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4&nbsp;706</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8&nbsp;137</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12&nbsp;843</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Net property, plant and equipment</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;871</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33&nbsp;685</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51&nbsp;556</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;953</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36&nbsp;005</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;958</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1><B>December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>15&nbsp;583</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37&nbsp;006</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>52&nbsp;589</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>108</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=31,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=913464,FOLIO='108',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001B.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_109"> </A>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec 31, 2011</B></FONT><HR NOSHADE></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec 31, 2010</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Cost</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Accumulated<BR>
provision</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Net property, plant<BR>
and equipment</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cost</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Accumulated<BR>
provision</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net property, plant<BR>
and equipment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>41&nbsp;679</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6&nbsp;548</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35&nbsp;131</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37&nbsp;485</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5&nbsp;206</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;279</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13&nbsp;757</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4&nbsp;018</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;739</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;822</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;522</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;300</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;834</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;953</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;881</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;491</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;776</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;715</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;162</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(324</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>838</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>900</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(236</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>664</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>65&nbsp;432</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12&nbsp;843</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>52&nbsp;589</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;698</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9&nbsp;740</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49&nbsp;958</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2011, the balance of assets under construction, and not subject to depreciation or depletion, was $16.2&nbsp;billion
(December&nbsp;31, 2010&nbsp;&#150;&nbsp;$15.9&nbsp;billion, January&nbsp;1, 2010&nbsp;&#150;&nbsp;$15.1&nbsp;billion). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
December&nbsp;31, 2011, property, plant and equipment included finance leases with a net book value of $425&nbsp;million (December&nbsp;31,
2010&nbsp;&#150;&nbsp;$403&nbsp;million, January&nbsp;1, 2010&nbsp;&#150;&nbsp;$376&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>19.&nbsp;EXPLORATION AND EVALUATION ASSETS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Beginning of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;961</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;342</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Acquisitions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>716</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Additions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>657</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Transfers to oil and gas assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(237</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Dry hole expenses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(21</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(45</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Disposals</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(263</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(342</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Impairment (note&nbsp;10)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(211</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(44</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Amortization</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(44</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(54</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Transfers to assets held for sale</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(29</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Foreign exchange adjustments</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(139</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1><B>End of year</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;554</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;961</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>20.&nbsp;OTHER ASSETS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Investments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>228</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>135</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>148</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>83</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>311</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>230</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>259</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>21.&nbsp;GOODWILL AND OTHER INTANGIBLE ASSETS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="27%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT><HR NOSHADE></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Goodwill</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Brand<BR>
name</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Customer<BR>
lists</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="6%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>At January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;019</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>182</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>166</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>66</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;433</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;019</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>182</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>166</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;422</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Derecognition of goodwill (note&nbsp;33)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(267</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(8</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(275</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Additions</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Amortization</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(11</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(11</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1><B>At December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;752</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>174</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>166</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>47</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;139</B></FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The company performed its most recent goodwill impairment test at July&nbsp;31, 2011. Recoverable amounts for the Oil Sands CGUs were based on fair value less
costs to sell calculated using the present value of the CGUs' expected future cash flows. The </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>109</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=32,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=912404,FOLIO='109',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001B.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_110"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>primary
sources of cash flow information are derived from business plans approved by executives of the company, which were developed based on macroeconomic factors such as forward price curves for
benchmark commodities, inflation rates and industry supply-demand fundamentals. When required, the projected cash flows in the business plan have been updated to reflect current market assessments of
key assumptions, including long-term forecasts of commodity prices, inflation rates, foreign exchange rates and discount rates specific to the&nbsp;asset. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Cash
flow forecasts are also based on past experience, historical trends and third-party evaluations of the company's reserves and resources to determine production profiles and volumes, operating
costs, maintenance and capital expenditures. Production profiles, reserve volumes, operating costs, maintenance and capital expenditures are consistent with the estimates approved through the
company's annual reserves evaluation process and determine the duration of the underlying cash flows used in the discounted cash flow test. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Future
cash flow estimates are adjusted to reflect risks specific to the asset and discounted using after-tax discount rates. The discount rate is calculated based on the weighted-average
cost of capital that is implicit in current market transactions for similar assets. The after-tax discount rate applied to cash flow projections was 11% at July&nbsp;31, 2011
(July&nbsp;31, 2010&nbsp;&#150;&nbsp;11%) with a growth rate equal to the current inflation rate of 2% (July&nbsp;31, 2010&nbsp;&#150;&nbsp;2%). As a
result of this analysis, management did not identify impairment within the Oil Sands operating segment and the associated allocated goodwill. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>22.&nbsp;DEBT AND CREDIT FACILITIES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Debt
and credit facilities are comprised of the following: </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Short-Term Debt  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Commercial paper&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>761</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;982</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;315</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1><B>Total short-term debt</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>763</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;984</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;317</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
commercial paper is supported by a revolving credit facility with a separate lender. The company is authorized to issue commercial paper to a maximum of $2.5&nbsp;billion having
a term not to exceed 365&nbsp;days. The weighted-average interest rate as at December&nbsp;31, 2011 was 0.4% (December&nbsp;31, 2010&nbsp;&#150;&nbsp;1.2%,
January&nbsp;1,&nbsp;2010&nbsp;&#150;&nbsp;0.5%). </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>110</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=33,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=869137,FOLIO='110',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001B.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_gc70001_1_111"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Long-Term Debt  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Fixed-term debt, redeemable at the option of the company</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.85% Notes, due 2039 (US$750)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>763</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>746</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>785</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.80% Notes, due 2038 (US$900)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>942</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>922</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>972</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.50% Notes, due 2038 (US$1150)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;170</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;144</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;204</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.95% Notes, due 2035 (US$600)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>566</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>552</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>578</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.95% Notes, due 2034 (US$500)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>509</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>497</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>523</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.35% Notes, due 2033 (US$300)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>263</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>255</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>266</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>7.15% Notes, due 2032 (US$500)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>509</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>497</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>523</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.10% Notes, due 2018 (US$1250)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;271</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;243</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;308</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.05% Notes, due 2018 (US$600)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>621</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>609</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>643</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.00% Notes, due 2014 (US$400)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>413</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>406</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>429</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>4.00% Notes, due 2013 (US$300)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>305</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>298</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>313</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>7.00% Debentures, due 2028 (US$250)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>263</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>257</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>271</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>7.875% Debentures, due 2026 (US$275)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>312</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>307</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>325</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>9.25% Debentures, due 2021 (US$300)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>376</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>375</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>402</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.39% Series&nbsp;4 Medium Term Notes, due 2037</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>600</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>600</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>600</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>5.80% Series&nbsp;4 Medium Term Notes, due 2018</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>700</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>700</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>700</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.70% Series&nbsp;2 Medium Term Notes, due 2011&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>500</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>500</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;583</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;908</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;342</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Revolving-term debt, with variable interest rates</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Bankers' acceptances and LIBOR loans (weighted-average interest rate at January&nbsp;1, 2010&nbsp;&#150;&nbsp;0.9%)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>929</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total unsecured long-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;583</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;908</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;271</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Secured long-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Finance leases&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>476</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>477</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>465</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Fair value adjustment related to interest rate swaps</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Deferred financing costs</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(56</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(59</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(63</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;016</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;347</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;704</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Current portion of long-term debt</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>6.70% Series&nbsp;2 Medium Term Notes, due 2011&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(500</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>Finance leases&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="54%" style="font-family:;"><FONT SIZE=1>Fair value adjustment related to interest swaps</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(518</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(25</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Total long-term debt</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;004</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;829</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;679</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company entered into an interest rate swap transaction on $200&nbsp;million of the principal amount of this note. In August&nbsp;2011, the principal was repaid and the
interest rate swap instruments expired. The interest rate swaps resulted in an average effective interest rate on the $200&nbsp;million principal of 2.5% for the first seven months of 2011
(2010&nbsp;&#150;&nbsp;1.9%).
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Interest
rates range from 4.7% to 13.4%, and maturity dates range from 2012 to&nbsp;2037. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>Required Debt Repayments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Required debt repayments for finance leases, short-term debt and long-term debt are as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="83%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Repayment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>2012</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>775</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>2013</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>331</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>2014</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>421</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>2015</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>2016</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Thereafter</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;205</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;765</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>111</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=34,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=357961,FOLIO='111',FILE='DISK135:[12ZAL1.12ZAL70001]GC70001B.;28',USER='JDAY',CD='29-FEB-2012;16:45' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_ge70001_1_112"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


 </B></FONT><FONT SIZE=1><B>Credit Facilities  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
summary of available and unutilized credit facilities is as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="84%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Fully revolving for a period of one year and expires in 2013</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;000</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Fully revolving for a period of four years and expires in 2013</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>203</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Fully revolving for a period of five years and expires in 2016</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;000</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Can be terminated at any time at the option of the lenders</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>612</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Total available credit facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;815</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Credit facilities supporting outstanding commercial paper</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(761</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Credit facilities supporting standby letters of credit</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(626</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="84%" style="font-family:;"><FONT SIZE=1>Total unutilized credit facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;428</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>23.&nbsp;OTHER LONG-TERM LIABILITIES  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Pensions and other post-retirement benefits (note&nbsp;24)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;683</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;275</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;143</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Share-based compensation plans (note&nbsp;27)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>187</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>331</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>224</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Deferred revenue</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>84</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>94</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Fort Hills purchase obligation&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>275</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>327</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>322</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Libya EPSAs signature bonus&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>73</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>280</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>90</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;392</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;103</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;073</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>As
part of the acquisition of Petro-Canada in 2009, the company assumed an obligation relating to Petro-Canada's acquisition of an additional 5% interest in the Fort Hills project in
2007 from another partner in the project. To pay for this investment the company will fund $375&nbsp;million of expenditures in excess of its working interest. At December&nbsp;31, 2011, the
carrying amount of the Fort Hills obligation, based on the discounted estimated payout pattern for the funding, was $327&nbsp;million
(2010&nbsp;&#150;&nbsp;$327&nbsp;million), of which the current portion is $52&nbsp;million (2010&nbsp;&#150;&nbsp;$nil) and is recorded in Accounts
Payable and Accrued Liabilities.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company also assumed the remaining US$500&nbsp;million obligation for a signature bonus relating to Petro-Canada's ratification of six Exploration and Production Sharing
Agreements (EPSAs) in Libya payable in several instalments to be paid through 2013. The company also has a US$47&nbsp;million obligation related to merger consent. At December&nbsp;31, 2011, the
carrying amount of the total Libya obligation was $342&nbsp;million (2010&nbsp;&#150;&nbsp;$287&nbsp;million), of which the current portion is $269&nbsp;million
(2010&nbsp;&#150;&nbsp;$249&nbsp;million) and is recorded in Accounts Payable and Accrued Liabilities. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>24.&nbsp;PENSIONS AND OTHER POST-RETIREMENT BENEFITS  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's defined benefit pension plans provide pension benefits at retirement based on years of service and final average earnings. These obligations are met through funded registered retirement
plans and through unregistered supplementary pensions and senior executive retirement plans that are voluntarily funded through retirement compensation arrangements, and/or paid directly to
recipients. The amount and timing of future funding for these supplementary plans is subject to capital availability and is at the company's discretion. Company contributions to the funded plans are
deposited with independent trustees who act as custodians of the plans' assets, as well as the disbursing agents of the benefits to recipients. Plan assets are managed by a pension committee on behalf
of beneficiaries. The committee retains independent managers and&nbsp;advisors. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Funding
of the registered retirement plans complies with applicable regulations that require actuarial valuations of the pension funds at least once every three years in Canada, depending on funding
status, and every year in the United&nbsp;States. The most recent valuation was performed as at December&nbsp;31, 2011. The company uses a measurement date of December&nbsp;31 to value the plan
assets and accrued benefit obligation for accounting purposes. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's other post-retirement benefits programs are unfunded and include certain health care and life insurance benefits provided to retired employees and eligible surviving
dependants. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company also provides a number of defined contribution plans, including a U.S.&nbsp;401(k) savings plan, that provide for an annual contribution of 5% to 9% of each participating employee's
pensionable earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>112</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=35,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=350934,FOLIO='112',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001A.;30',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_113"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Defined Benefit Obligations and Funded Status  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension Benefits</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&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<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;Post-Retirement<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;Benefits</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Change in benefit obligation</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Benefit obligation at beginning of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;219</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;875</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>462</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>401</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Current service costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>111</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Plan participants' contributions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Benefits paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(161</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(151</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(17</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(12</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Interest costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>165</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Foreign exchange</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(18</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(14</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Settlements</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Actuarial loss</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>375</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>243</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Benefit obligation at end of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;698</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;219</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>510</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>462</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1><B>Change in plan assets</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Fair value of plan assets at beginning of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;335</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;072</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Employer contributions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>205</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>188</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Plan participants' contributions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Benefits paid</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(161</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(151</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Foreign exchange</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Settlements</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Expected return on plan assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>160</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>142</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Actuarial gain (loss)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(49</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Fair value of plan assets at end of year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;499</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;335</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net unfunded obligation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;199</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>884</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>510</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>462</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The net unfunded obligation is recorded in Accounts Payable and Accrued Liabilities and Other Long-Term Liabilities in the Consolidated
Balance&nbsp;Sheets. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension Benefits</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&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<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;Post-Retirement<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;Benefits</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Analysis of amount charged to earnings:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Current service costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>111</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Interest costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>165</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>168</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Settlement</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Expected return on plan assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(160</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(142</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Defined benefit plans expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>117</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>33</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Defined contribution plans expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>43</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total benefits plans expense charged to earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>160</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>153</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>33</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><BR><FONT SIZE=1> Analysis of amount recognized in other comprehensive income:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Actual return less expected return on plan assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(82</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Change in assumptions underlying the present value of the plan liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>367</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>240</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Experience gains and losses arising on the plan liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Actuarial loss recognized in other comprehensive income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>424</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>161</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>Accumulated actuarial losses in retained earnings at December&nbsp;31, 2011 were $657&nbsp;million (December&nbsp;31,
2010&nbsp;&#150;&nbsp;$201&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Actuarial Assumptions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
cost of the defined benefit pension plans and other post-retirement benefits received by employees is actuarially determined using the projected unit credit method of valuation that
includes employee service to date and present pay levels, as well as projection of salaries and service to&nbsp;retirement. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>113</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=36,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=1024664,FOLIO='113',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001A.;30',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_114"> </A>

<P style="font-family:;"><FONT SIZE=1>The
significant weighted-average actuarial assumptions were as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension Benefits</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&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<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;Post-Retirement<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;Benefits</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(per cent)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Benefit Obligation at December&nbsp;31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Discount rate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.40</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.40</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Rate of compensation increase</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.70</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.70</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Benefit Plans Expense year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Discount rate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.10</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.25</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Expected return on plan assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.70</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>N/A</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>N/A</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=1>Rate of compensation increase</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.70</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.90</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.00</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The discount rate assumption is based on the interest rate on high-quality bonds with maturity terms equivalent to the benefit obligations. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
expected return on plan assets is the expected long-term rate of return on plan assets for the year and is based on plan assets at the beginning of the year that have been adjusted on
a weighted-average basis for contributions and benefit payments expected for the&nbsp;year. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>To
estimate the expected long-term rate of return on plan assets, the company considered the current level of expected returns on the fixed income portion of the portfolio, the historical
level of the risk premium associated with other asset classes in which the portfolio is invested and the expectation for future returns on each asset class. The expected return for each asset class
was weighted based on the policy asset mix to develop an expected long-term rate of return on asset assumption for the&nbsp;portfolio. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
order to measure the expected cost of other post-retirement benefits, a 7% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2011
(2010&nbsp;&#150;&nbsp;8%). It is assumed this rate will remain constant in 2012 and 2013 and will decrease 0.5% annually to 5% by 2017, and remain at that level thereafter. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Assumed
health care cost trend rates may have a significant effect on the amounts reported for other post-retirement benefit obligations. A one per&nbsp;cent change in assumed health
care cost trend rates would have the following effects: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="68%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>1% increase</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>1% decrease</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Effect on the aggregate service and interest costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Effect on the benefit obligations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(35</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>Plan Assets and Investment Objectives  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's long-term investment objective is to secure the defined pension benefits while managing the variability and level of its contributions. The portfolio is rebalanced
periodically as required, while ensuring that the maximum equity content is 65% at any time. Plan assets are restricted to those permitted by legislation, where applicable. Investments are made
through pooled, mutual, segregated or exchange traded&nbsp;funds. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's weighted-average pension plan asset allocation based on market values as at December&nbsp;31, 2011 and 2010, are as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(per&nbsp;cent)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Equities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>55</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Fixed income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>45</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>100</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>Equity securities do not include any direct investments in Suncor shares. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company expects to make cash contributions to its defined benefit pension plans in 2012 of $280&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>114</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=37,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=784102,FOLIO='114',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001A.;30',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_115"> </A>

<P style="font-family:;"><FONT SIZE=2><B>25.&nbsp;PROVISIONS  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="35%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Decommissioning<BR>
and Restoration&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Royalties&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>At January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;496</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>421</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>270</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;187</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Liabilities incurred</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>145</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>212</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>437</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Changes in estimates</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(183</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(86</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(205</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Liabilities settled</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(417</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(110</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(136</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(663</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Accretion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>186</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>201</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Asset divestitures</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(470</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(470</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Foreign exchange</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(59</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(64</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;633</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>370</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>420</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;423</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Less: current portion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>147</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>370</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>91</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>608</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Less: associated with assets held for sale</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>311</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>311</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;175</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>329</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;504</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><BR><FONT SIZE=1> At December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
2&nbsp;633</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
370</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
420</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
3&nbsp;423</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Liabilities incurred</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>219</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>237</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>42</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>498</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Changes in estimates</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;690</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;695</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Liabilities settled</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(496</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(256</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(63</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(815</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Accretion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>140</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>146</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Asset divestitures</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(390</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(390</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Foreign exchange</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>At December&nbsp;31, 2011</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;801</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>355</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>407</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;563</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>Less: current portion</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>372</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>355</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>84</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>811</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="35%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;429</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>323</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;752</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=11 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
decommissioning and restoration provisions associated with the retirement of property, plant and equipment. The total undiscounted amount of estimated future cash flows
required to settle the obligations at December&nbsp;31, 2011 was approximately $7.3&nbsp;billion (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$5.5&nbsp;billion). A
weighted-average credit-adjusted risk-free interest rate of 4.3% was used to discount the provision recognized at December&nbsp;31, 2011
(December&nbsp;31,&nbsp;2010&nbsp;&#150;&nbsp;5.4%). The credit-adjusted risk-free rate used reflects the expected timeframe of the provisions. Payments to
settle the decommissioning and restoration provisions occur on an ongoing basis and will continue over the lives of the operating assets, which can exceed fifty&nbsp;years.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
2010, the Minister of Energy for Alberta provided notice to the company for the quality and transportation adjustments to be used under the Bitumen Valuation Methodology
(Ministerial) Regulations for the term of the Suncor Royalty Amending Agreement that expires December&nbsp;31, 2015. As a result, in 2010 the company recognized a recovery of provision amounts
previously recorded in 2009 of $65&nbsp;million. The company is still pursuing final settlement of the quality adjustment. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>26.&nbsp;SHARE CAPITAL  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Authorized  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Common Shares  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The company is authorized to issue an unlimited number of common shares without nominal or par&nbsp;value. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B><I>Preferred Shares  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The company is authorized to issue an unlimited number of preferred shares in series, without nominal or par&nbsp;value. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Normal Course Issuer Bid  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In the third quarter of 2011, the company announced a Normal Course Issuer Bid (NCIB) to purchase for cancellation up to $500&nbsp;million of its common shares between
September&nbsp;6, 2011 and September&nbsp;5, 2012. During the year, the company completed the NCIB by purchasing 17.1&nbsp;million common shares for total consideration of $500&nbsp;million.
Of the amount paid, $222&nbsp;million was charged to share capital and $278&nbsp;million to retained earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>27.&nbsp;SHARE-BASED COMPENSATION  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;Stock Option Plans  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Stock
options that give the holder the right to purchase common shares at the grant date market price subject to fulfilling vesting terms are accounted for as equity-settled plans. Stock options that
the holder can settle for cash or common shares are accounted for as cash-settled plans. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>115</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=38,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=627808,FOLIO='115',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001B.;20',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_116"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Equity-Settled Stock Option Plans  </B></FONT></P>


<P style="font-family:;"><FONT SIZE=1><B><I>(i)&nbsp;Suncor Energy&nbsp;Inc. Stock Options  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>This plan replaced the pre-merger stock option plans of legacy Suncor and legacy Petro-Canada. Outstanding options that are cancelled, expire or otherwise result in
no underlying common share being issued, will be available for issuance as options under this plan. Options granted have a seven-year life and vest annually over a three-year
period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>(ii)&nbsp;Discontinued Plans  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The following plans were in place prior to August&nbsp;1, 2009: SunShare 2012 Performance Stock Options, Executive Stock Options, Key Contributor Stock Options, and legacy
Petro-Canada Stock Options. For details of the terms and conditions of these plans, refer to the company's 2010 audited annual financial statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Fair
values of options accounted for as equity-settled are estimated as at the grant date using the Monte-Carlo simulation approach for the SunShare 2012 plan and the Black-Scholes option-pricing
model for all other plans. The weighted-average fair values of the options granted during the various periods and the weighted-average assumptions used in their determination are as
noted&nbsp;below: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Annual dividend per share</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>$0.43</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$0.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Risk-free interest rate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.50%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.02%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Expected life</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;years</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Expected volatility</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Weighted-average fair value per option</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>$16.52</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>$12.98</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>The expected life is based on historical experience and current expectations. The expected volatility reflects the assumption that the historical volatility over
a period similar to the life of the options is indicative of future&nbsp;trends. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Cash-Settled Stock Option Plans  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>(i)&nbsp;Suncor Energy&nbsp;Inc. Stock Options with TSARs  </I></B></FONT></P>


<P style="font-family:;"><FONT SIZE=1>Options were granted under this plan between August&nbsp;1, 2009 and July&nbsp;31, 2010. Each option included a tandem stock appreciation right (TSAR). Options granted have
a seven-year life and vest annually over a three-year period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>(ii)&nbsp;Legacy Petro-Canada Stock Options with CPAs  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>This plan was discontinued on August&nbsp;1, 2009. Options were granted to executives and key employees, and can be settled in common shares or exchanged for a cash payment
alternative (CPA). Options granted have a seven-year life and vest over periods of up to four&nbsp;years. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Fair
values of options accounted for as cash-settled are estimated as at the reporting date using the Black-Scholes option-pricing model. The expected life assumption is based on
historical data and current expectations. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of
future&nbsp;trends. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Changes
in the total outstanding stock options were as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=1><B>2011</B></FONT><HR NOSHADE></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Number<BR>
(thousands)</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Weighted-Average<BR>
Exercise&nbsp;Price<BR>
($)</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Number<BR>
(thousands)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Weighted-<BR>
Average<BR>
Exercise&nbsp;Price<BR>
($)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Outstanding, beginning of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>67&nbsp;638</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.94</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72&nbsp;024</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.52</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Granted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;840</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>41.08</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;297</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.86</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Exercised</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(9&nbsp;918</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.93</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5&nbsp;292</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.49</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Forfeited/expired</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4&nbsp;382</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>40.51</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3&nbsp;391</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.51</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Outstanding, end of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>59&nbsp;178</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35.25</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67&nbsp;638</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Exercisable, end of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;482</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.03</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;266</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.91</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>Options are exercised regularly throughout the year. Therefore, the weighted-average share price during the year of $36.18
(2010&nbsp;&#150;&nbsp;$33.73) is representative of the weighted-average share price at the date of&nbsp;exercise. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>116</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=39,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=1025440,FOLIO='116',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001B.;20',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_117"> </A>

<P style="font-family:;"><FONT SIZE=1>For
the options outstanding at December&nbsp;31, 2011, the exercise price ranges and weighted-average remaining contractual lives are shown&nbsp;below: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=1>Outstanding</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exercise Prices ($)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Number<BR>
(thousands)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Weighted-Average<BR>
Remaining<BR>
Contractual&nbsp;Life<BR>
(years)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>11.96-14.99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;346</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>15.00-29.99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;503</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>30.00-45.99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;636</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>46.00-49.99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;575</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>50.00-69.97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;118</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="64%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;178</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1>Common shares authorized for issuance by the Board of Directors that remain available for the granting of future&nbsp;options: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="52%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(thousands)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="52%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;347</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;785</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16&nbsp;196</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;Stock Appreciation Rights (SARs)  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
SAR entitles the holder to receive a cash payment equal to the difference between the stated exercise price and the market price of the company's common shares on the date the SAR is exercised, and
is accounted for as a cash-settled&nbsp;plan. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>(i)&nbsp;Suncor Energy&nbsp;Inc. SARs  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>These SARs have a seven-year life and vest annually over a three-year period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>(ii)&nbsp;Legacy Petro-Canada SARs  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>This plan was discontinued on August&nbsp;1, 2009. These SARs have a seven-year life and vest annually over a four-year period. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Fair
values of SARs are estimated under the same methodology used for cash-settled stock options. Changes in the number of outstanding SARs were as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=1><B>2011</B></FONT><HR NOSHADE></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=1>2010</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Number<BR>
(thousands)</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Weighted-Average<BR>
Exercise&nbsp;Price<BR>
($)</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Number<BR>
(thousands)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Weighted-<BR>
Average<BR>
Exercise&nbsp;Price<BR>
($)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Outstanding, beginning of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11&nbsp;285</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28.97</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;065</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.63</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Granted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>197</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>41.26</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>353</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Exercised</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2&nbsp;003</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.54</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(734</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Forfeited/expired</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(727</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28.10</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;399</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.99</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Outstanding, end of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;752</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.32</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;285</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28.97</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="38%" style="font-family:;"><FONT SIZE=1>Exercisable, end of year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;625</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31.49</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;939</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.28</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;Share Unit Plans  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's share unit plans are accounted for as cash-settled plans. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
performance share unit (PSU) is a time-vested award entitling employees to receive varying degrees of cash (0%&nbsp;&#150;&nbsp;200% of the company's share price
at time of vesting) contingent upon Suncor's total shareholder return (stock price appreciation and dividend income) relative to a peer group of companies. PSUs vest approximately three years after
the grant&nbsp;date. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
restricted share unit (RSU) is a time-vested award entitling employees to receive cash equal to the company's share price at the time of vesting. Typically, RSUs vest approximately three
years after the grant&nbsp;date. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
deferred share unit (DSU) is redeemable for cash or a common share for a period of time after a unitholder ceases employment or Board membership. The DSU plan is limited to executives and members of
the Board of Directors. Members of the Board of Directors receive one-half or, at their option, all of their compensation in the form of&nbsp;DSUs. Executives may elect to receive
one-half, or all, of their annual incentive payment in the form of&nbsp;DSUs. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>117</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=40,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=1034062,FOLIO='117',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001B.;20',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_118"> </A>

<P style="font-family:;"><FONT SIZE=1>Changes
in the number of outstanding share units were as follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(thousands)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>PSU</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>RSU</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>DSU</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Outstanding, January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;247</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;250</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;616</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Granted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;699</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;881</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Redeemed for cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(282</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(118</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(426</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Forfeited/expired</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(917</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(563</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Outstanding, December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;747</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;450</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;299</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Granted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;050</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;237</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>152</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Redeemed for cash</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(224</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(840</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(749</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Forfeited/expired</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(913</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(553</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Outstanding, December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;660</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;294</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;702</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1>Fair values are estimated as at the reporting date using the Monte-Carlo simulation approach for PSUs and the Black-Scholes option-pricing model for other share
unit plans. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the share units is indicative of future&nbsp;trends. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Share-Based Compensation Expense (Recovery)  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following table summarizes the share-based compensation expense (recovery) recorded for all plans within Operating, Selling and General expense in the Consolidated Statements of Comprehensive
Income. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Equity-settled plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>94</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Cash-settled plans</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(95</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>190</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Total share-based compensation expense (recovery)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>194</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>Liability Recognized for Share-Based Compensation  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company has recorded a liability of $405&nbsp;million as at December&nbsp;31, 2011 (2010&nbsp;&#150;&nbsp;$666&nbsp;million), of which $218&nbsp;million was
classified as current (2010&nbsp;&#150;&nbsp;$335&nbsp;million), based on the fair value of awards accounted for as cash-settled. The intrinsic value of the vested
awards at December&nbsp;31, 2011 was $161&nbsp;million (2010&nbsp;&#150;&nbsp;$225&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>28.&nbsp;FINANCIAL INSTRUMENTS AND RISK MANAGEMENT  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's financial instruments consist of cash and cash equivalents, accounts receivable, derivative contracts, substantially all accounts payable and accrued liabilities, debt, and portions of
other assets and other long-term liabilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Non-Derivative Financial Instruments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
fair values of cash and cash equivalents, accounts receivable, short-term debt, and accounts payable and accrued liabilities approximate their carrying values due to the
short-term maturities of those instruments. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
fair value of the company's financial instrument included in other assets was calculated using a discounted cash flow model. The inputs used in the model were based on observable market data,
where available. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's long-term debt and long-term financial liabilities are recorded at amortized cost using the effective interest method, except for a portion of debt that was
recorded at fair value as part of a fair value hedging relationship until August 2011 (see&nbsp;note&nbsp;22). At December&nbsp;31, 2011, the carrying value of fixed-term debt
accounted
for under amortized cost was $9.6&nbsp;billion (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$9.7&nbsp;billion) and the fair value at December&nbsp;31, 2011 was
$11.4&nbsp;billion (December&nbsp;31, 2010&nbsp;&#150;&nbsp;$10.7&nbsp;billion). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Derivative Financial Instruments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;Fair Value Hierarchy  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>To
estimate fair value of derivatives, the company uses quoted market prices when available, or third-party models and valuation methodologies that utilize observable market data. In addition to
market information, the company incorporates transaction specific details that market participants would utilize in a fair value measurement, including the impact of non-performance risk.
However, these fair value estimates may not necessarily be indicative of the amounts that could be realized or settled in a </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>118</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=41,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=824299,FOLIO='118',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001B.;20',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_119"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>current
market transaction. The company characterizes inputs used in determining fair value using a hierarchy that prioritizes inputs depending on the degree to which they are observable. The three
levels of the fair value hierarchy are as&nbsp;follows: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Level&nbsp;1&nbsp;&#150;&nbsp;inputs
represent quoted prices in active markets for identical assets or liabilities. Active markets are those in
which transactions occur in sufficient frequency and volume to provide pricing information on an ongoing&nbsp;basis.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Level&nbsp;2&nbsp;&#150;&nbsp;inputs
other than quoted prices that are observable, either directly or indirectly, as of the reporting date.
Level&nbsp;2 valuations are based on inputs, including quoted forward prices for commodities, market interest rates, and volatility factors, which can be observed or corroborated in the marketplace.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Level&nbsp;3&nbsp;&#150;&nbsp;inputs
that are less observable, unavailable or where the observable data does not support the majority of the
instrument's fair&nbsp;value. </FONT></DD></DL>
</UL>

<P style="font-family:;"><FONT SIZE=1>In
forming estimates, the company utilizes the most observable inputs available for valuation purposes. If a fair value measurement reflects inputs of different levels within the hierarchy, the
measurement is categorized based upon the lowest level of input that is significant to the fair value measurement. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following table presents the company's derivative financial instrument assets and liabilities measured at fair value for each hierarchy level as at December&nbsp;31, 2011: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Level&nbsp;1</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Level&nbsp;2</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Level&nbsp;3</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total Fair Value</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Accounts payable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(72</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(14</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(7</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Balance at December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(61</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(66</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>33</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Accounts payable</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(18</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(51</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(2</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(71</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Balance at December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(17</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(18</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(34</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;Designated as Part of a Qualifying Hedge Relationship  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company periodically enters into derivative financial instrument contracts such as interest rate swaps as part of its risk management strategy to manage its exposure to benchmark interest rate
fluctuations. During 2011, the company held interest rate swaps designated as fair value hedges on $200&nbsp;million of fixed-term debt. These swaps expired in August&nbsp;2011. The
fair value of these swaps as at December&nbsp;31, 2010 was $8&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;Non-Designated Derivative Financial Instruments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Risk Management Derivatives  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The company periodically enters into derivative contracts which although not accounted for as hedges because they have not been documented as such, or do not qualify under GAAP,
are believed to be economically effective at managing exposure to commodity price movements and are a component of Suncor's overall risk management program. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Gains
or losses associated with risk management derivatives are reported in the related operating segment as part of Other Income. The earnings impact associated with these contracts for the year
ended December&nbsp;31, 2011 was a loss of $22&nbsp;million (2010&nbsp;&#150;&nbsp;gain of $89&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B><I>Energy Trading Derivatives  </I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The company's Energy Trading group also uses physical and financial energy contracts, including swaps, forwards and options to earn trading revenues. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Gains
or losses from trading activities are reported in Other Income as part of Corporate, Energy Trading and Eliminations. The earnings impact for the year ended December&nbsp;31, 2011 was a gain
of $301&nbsp;million (2010&nbsp;&#150;&nbsp;gain of $106&nbsp;million). </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>119</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=42,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=982871,FOLIO='119',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001C.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_120"> </A>

<P style="font-family:;"><FONT SIZE=1><B>Change in Fair Value of Non-Designated Derivative Financial Instruments  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Risk<BR>
Management</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Energy<BR>
Trading</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Fair value of contracts outstanding at January&nbsp;1, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(312</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(47</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(359</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Fair value of contracts realized during the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>236</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(146</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Changes in fair value during the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>195</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Fair value of contracts outstanding at December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(87</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(74</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Fair value of contracts realized during the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(248</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(239</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="47%" style="font-family:;"><FONT SIZE=1>Changes in fair value during the period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(22</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>301</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>279</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Fair value of contracts outstanding at December&nbsp;31, 2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(34</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(34</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=1><B>Risk Management  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company is exposed to a number of different risks arising from financial instruments. These risk factors include market risks, comprising commodity price risk, foreign currency risk and interest
rate risk, as well as liquidity risk and credit&nbsp;risk. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company maintains a formal governance process to manage its financial risks. The company's Commodity Risk Management Committee (CRMC) is charged with the oversight of the company's trading and
credit risk management activities. Trading activities are defined as strategic hedging, optimization trading, marketing and trading. The CRMC, acting under the authority of the company's Board of
Directors, meets regularly to monitor limits on risk exposures, review policy compliance and validate risk-related methodologies and&nbsp;procedures. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
nature of the risks faced by the company and its policies for managing such risks remains unchanged from December&nbsp;31,&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>1)&nbsp;Market Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Market
risk is the risk or uncertainty arising from possible market price movements and their impact on the future performance of the business. The market price movements that could adversely affect
the value of the company's financial assets, liabilities and expected future cash flows include commodity price risk, foreign currency exchange risk and interest rate&nbsp;risk. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;Commodity Price Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Suncor's
financial performance is closely linked to crude oil prices (including pricing differentials for various product types), and to a lesser extent, natural gas and refined product prices. The
company may reduce its exposure to commodity price risk through a number of strategies. These strategies include committing a portion of expected crude oil production to fixed price contracts,
entering into option contracts to limit exposure to changes in crude oil prices and hedging natural gas exposures to manage regional price differentials. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Changes
in crude oil and natural gas prices would have the following impact on pre-tax earnings for the company's outstanding derivative financial instruments at December&nbsp;31, 2011
and&nbsp;2010: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2011&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Change</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Pre-tax<BR>
Earnings</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Crude Oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$96.12/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price increase</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$1.00/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price decrease</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$1.00/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$3.56/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price increase</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$0.10/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price decrease</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$0.10/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Change</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Pre-tax<BR>
Earnings</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Crude Oil</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$93.37/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price increase</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$1.00/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price decrease</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$1.00/barrel</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Natural Gas</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$4.99/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price increase</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$0.10/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="50%" style="font-family:;"><FONT SIZE=1>Price decrease</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>US$0.10/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Prices
represent the average of futures' prices at December&nbsp;31, 2011 and 2010, respectively. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>120</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=43,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=826204,FOLIO='120',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001C.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_121"> </A>

<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;Foreign Currency Exchange Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company is exposed to foreign currency exchange risk on revenues, capital expenditures, or financial instruments that are denominated in a currency other than the company's functional currency
(Canadian dollars). As crude oil is priced in U.S.&nbsp;dollars, fluctuations in US$/Cdn$ exchange rates may have a significant impact on revenues. This exposure is partially offset through the
issuance of U.S.&nbsp;dollar denominated long-term debt and by sourcing capital projects in U.S.&nbsp;dollars. A 1% change in the US$/Cdn$ exchange rate at December&nbsp;31, 2011
would change pre-tax earnings by approximately $88&nbsp;million (2010&nbsp;&#150;&nbsp;$90&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company also has foreign operations whose functional currency is different than the company's functional currency. The main exposures relate to foreign operations whose functional currencies are
in U.S.&nbsp;dollars or Euros (&euro;). A 1% change in the US$/Cdn$ exchange rate and &euro;/Cdn$ exchange rate at December&nbsp;31, 2011 would impact other comprehensive
income by approximately $45&nbsp;million and $23&nbsp;million, respectively (2010&nbsp;&#150;&nbsp;$37&nbsp;million and $23&nbsp;million, respectively). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;Interest Rate Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company is exposed to interest rate risk as changes in interest rates may affect future cash flows and the fair values of its financial instruments. The primary exposure is related to its
revolving-term debt (commercial paper, bankers' acceptances and LIBOR&nbsp;loans). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>To
manage the company's position with respect to interest expense, the company targets 30% to 50% of total debt to be exposed to floating interest rates. Over time, this floating/fixed rate mix will
fluctuate based on prevailing market conditions and management's assessment of overall risk. The proportion of floating interest rate exposure at December&nbsp;31, 2011 was 7% of total debt
outstanding (2010&nbsp;&#150;&nbsp;18%). The weighted-average interest rate on total debt for the year ending December&nbsp;31, 2011 was 6.0%
(2010&nbsp;&#150;&nbsp;5.7%). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's net earnings are sensitive to changes in interest rates on the floating rate portion of the company's debt. To the extent interest expense is not capitalized, if interest rates
applicable to floating rate instruments increased by 1%, it is estimated that the company's pre-tax earnings would decrease by approximately $8&nbsp;million
(2010&nbsp;&#150;&nbsp;$22&nbsp;million). This assumes that the amount and mix of fixed and floating rate debt remains unchanged from December&nbsp;31, 2011, and that the
change in interest rates is effective from the beginning of the&nbsp;year. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>2)&nbsp;Liquidity Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Liquidity
risk is the risk that Suncor will not be able to meet its financial obligations when due. The company mitigates this risk by forecasting spending requirements and maintaining sufficient cash
and credit facilities to meet these requirements. Suncor's cash and cash equivalents and available credit facilities at December&nbsp;31, 2011 were $3.8&nbsp;billion and $5.8&nbsp;billion,
respectively. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Surplus
cash is invested into a range of short-dated money market securities. Investments are only permitted in high credit quality government or corporate securities. Diversification of these
investments is maintained through counterparty credit&nbsp;limits. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
following table shows the timing of cash outflows related to trade and other payables and&nbsp;debt. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>&nbsp;December&nbsp;31,&nbsp;2011</B></FONT><HR NOSHADE></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;December&nbsp;31, 2010</FONT><HR NOSHADE></TD>
<TD WIDTH="3%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Trade and<BR>
other payables&nbsp;<SUP>(1)</SUP></B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Debt&nbsp;<SUP>(2)</SUP></B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Trade and<BR>
other payables&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Debt&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>Within one year</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>7&nbsp;755</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;411</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;524</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;128</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>1 to 3&nbsp;years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>274</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;012</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>359</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;562</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>3 to 5&nbsp;years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>52</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;238</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;615</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>Over 5&nbsp;years</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17&nbsp;259</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;473</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="42%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;081</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>21&nbsp;920</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;915</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>23&nbsp;778</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
the Fort Hills purchase obligation and the Libya EPSAs signature bonus.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Debt
includes short-term debt, long-term debt, finance leases and interest payments on fixed-term debt and commercial paper. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>3)&nbsp;Credit Risk  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Credit
risk is the risk that a customer or counterparty will fail to perform an obligation or fail to pay amounts due causing a financial loss. The company's credit policy is designed to ensure there
is a standard credit practice throughout the company to measure and monitor credit risk. The policy outlines delegation of authority, the due diligence process required to approve a new customer or
counterparty and the maximum amount of credit exposure per single entity. Before transactions begin with a new customer or counterparty, its creditworthiness is assessed, a credit rating is assigned
and a maximum credit limit is allocated. The assessment process is outlined in the credit policy and considers both quantitative and qualitative factors. The company </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>121</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=44,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=239110,FOLIO='121',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001C.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_122"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=1>constantly
monitors the exposure to any single customer or counterparty along with the financial position of the customer or counterparty. If it is deemed that a customer or counterparty has become
materially weaker, the company will work to reduce the credit exposure and lower the credit limit allocated. Regular reports are generated to monitor credit risk and the Credit Committee meets
quarterly to ensure compliance with the credit policy and review the&nbsp;exposures. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>A
substantial portion of the company's accounts receivable are with customers in the oil and gas industry and are subject to normal industry credit risk. At December&nbsp;31, 2011 and 2010,
substantially all of the company's trade receivables were current. However, as a result of political unrest in Syria, the company has not received payment for recent production from its Syrian
operations. The company has recorded a provision of $63&nbsp;million against these receivables, which represents approximately half of the overall balance outstanding. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company may be exposed to certain losses in the event that counterparties to derivative financial instruments are unable to meet the terms of the contracts. The company's exposure is limited to
those counterparties holding derivative contracts with positive fair values at the reporting date. At December&nbsp;31, 2011, the company's exposure was $37&nbsp;million (December&nbsp;31,
2010&nbsp;&#150;&nbsp;$27&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>29.&nbsp;CAPITAL STRUCTURE FINANCIAL POLICIES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's primary capital management objective is to maintain a conservative balance sheet, which supports a solid investment-grade credit rating profile. This objective affords the company the
financial flexibility and access to the capital it requires to execute on its growth objectives. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's capital is monitored through net debt to cash flow from operations&nbsp;<SUP>(1)</SUP> and total debt to total debt plus shareholders' equity. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Net
debt to cash flow from operations is calculated as short-term debt plus total long-term debt less cash and cash equivalents divided by cash flow from operations for the
year then&nbsp;ended. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Total
debt to total debt plus shareholders' equity is calculated as short-term debt plus total long-term debt divided by short-term debt plus total
long-term debt plus shareholders' equity. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>Financial
covenants associated with the company's various banking and debt agreements are reviewed regularly and controls are in place to maintain compliance with these covenants. The company complied
with all financial covenants for the years ended December&nbsp;31, 2011 and&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company's strategy during 2011, which was unchanged from 2010, was to maintain the measure set out in the following schedule. The company believes that achieving this capital target helps to
provide the company access to capital at a reasonable cost by maintaining solid investment-grade credit ratings. The company operates in a cyclical business environment and ratios may periodically
fall outside of management's targets. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>At December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Capital<BR>
Measure<BR>
Target</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Components of ratios</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Short-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>763</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Current portion of long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>518</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;004</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="55%" style="font-family:;"><FONT SIZE=1>Total debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;779</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;331</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Less: Cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;803</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="55%" style="font-family:;"><FONT SIZE=1>Net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;976</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;254</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38&nbsp;600</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total capitalization (total debt plus shareholders' equity)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49&nbsp;379</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47&nbsp;523</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow from operations&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;746</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;656</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Net debt to cash from operations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&lt;2.0&nbsp;times</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Total debt to total debt plus shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26%</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Cash
flow from operations is expressed before changes in non-cash working capital. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>122</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=45,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="2",CHK=295447,FOLIO='122',FILE='DISK135:[12ZAL1.12ZAL70001]GE70001C.;22',USER='JDAY',CD='29-FEB-2012;16:45' -->
<A NAME="page_ge70001_1_123"> </A>

<P style="font-family:;"><FONT SIZE=2><B>30.&nbsp;INTERESTS IN JOINT VENTURES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Significant
jointly controlled entities at December&nbsp;31, 2011 are set out below: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="85%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>%</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Fort Hills Energy&nbsp;L.P.&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Syncrude Canada&nbsp;Ltd.&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Voyageur Upgrader&nbsp;L.P.&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Magrath Windfarm Joint Venture</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Chin Chute Windfarm Joint Venture</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Ripley Windfarm Joint Venture</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Wintering Hills Joint Venture</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Chimies Parachem S.E.C. / Parachem Chemicals&nbsp;L.P.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>51.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>UPI&nbsp;Inc.</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company's share of Fort Hills Energy L.P. was 60.0% at January&nbsp;1, 2010 and December&nbsp;31,&nbsp;2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Syncrude
Canada Ltd. is the operator of the Syncrude oil sands joint venture, a jointly controlled asset. Syncrude Canada Ltd. is responsible for the management and administration of
this&nbsp;asset.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Voyageur
Upgrader&nbsp;L.P. was a wholly-owned subsidiary at January&nbsp;1, 2010 and December&nbsp;31,&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1>Summarized financial information for the company's share of its jointly controlled entities is shown&nbsp;below: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>127</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>128</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Non-current assets</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;935</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;227</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;246</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;062</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;355</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;347</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>135</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>183</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>148</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Non-current liabilities</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>146</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>110</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>281</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>247</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>258</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><BR><FONT SIZE=1> Revenues and other income</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B><BR>
541</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
672</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Expenses</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>746</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>852</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(205</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(180</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>31.&nbsp;RELATED PARTY DISCLOSURES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Related Party Transactions  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company enters into transactions with related parties in the normal course of business. These are primarily sales to associated entities in the company's refining and marketing operations.
Operating revenues after eliminations for these transactions were $780&nbsp;million for the year ended December&nbsp;31, 2011 (2010&nbsp;&#150;&nbsp;$730&nbsp;million). At
December&nbsp;31, 2011, amounts due from related parties were $60&nbsp;million (2010&nbsp;&#150;&nbsp;$60&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>Compensation of Key Management Personnel  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Compensation
of the company's Board of Directors and members of the Executive Leadership Team for the years ended December&nbsp;31 is as&nbsp;follows: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="73%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Short-term benefits</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Pension and other post-retirement benefits</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>Share-based compensation</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="73%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>123</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>32.&nbsp;COMMITMENTS, CONTINGENCIES AND GUARANTEES  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(a)&nbsp;Operating Commitments  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>Future
payments under the company's operating leases for pipeline transportation agreements and for various premises, service stations and other property and equipment are as&nbsp;follows: </FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="56%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Jan&nbsp;1<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>Within one year</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;080</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;126</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>After one year but not more than five years</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;768</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;409</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;281</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>More than five years</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8&nbsp;785</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;386</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;019</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="56%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13&nbsp;633</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;921</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;377</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><HR NOSHADE></TD>
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<P style="font-family:;"><FONT SIZE=1>Significant operating leases expire at various dates through 2028. For the year ended December&nbsp;31, 2011, operating lease expense was $1.1&nbsp;billion
(2010&nbsp;&#150;&nbsp;$1.0&nbsp;billion). </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Suncor
also has commodity purchase arrangements which are transacted at market prices and in the normal course of business, which may terminate on short&nbsp;notice. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(b)&nbsp;Contingencies  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company reduces exposure to some operational risks by maintaining a comprehensive insurance program at limits and deductible amounts that management believes to be&nbsp;acceptable. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
company carries property damage and business interruption insurance with varying coverage limits and deductible amounts based on the asset. As of December&nbsp;31, 2011, Suncor's insurance
program includes a coverage limit of up to US$1.3&nbsp;billion for oil sands risks, up to US$1.25&nbsp;billion for offshore risks and up to US$600&nbsp;million for refining risks. These limits
are all net of deductible amounts or waiting periods and subject to certain price and volume limits. The company also has primary property insurance for US$250&nbsp;million that covers all of
Suncor's assets. As part of its normal course of operations, Suncor carries risk mitigation instruments in the aggregate amount of $405&nbsp;million on certain foreign operations, of which up to
$300&nbsp;million can apply to our assets in Syria. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Suncor
believes its liability, property and business interruption insurance is appropriate to its business, although such insurance will not provide coverage in all circumstances or fully protect
against prolonged outages. In the future, the insurance program may change due to market conditions or other business considerations. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>The
company is defendant and plaintiff in a number of legal actions that arise in the normal course of business. The company believes that any liabilities that might arise pertaining to such matters
would not have a material effect on its consolidated financial position. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Costs
attributable to these commitments and contingencies are expected to be incurred over an extended period of time and to be funded from the company's cash flow from operating activities. Although
the ultimate impact of these matters on net earnings cannot be determined at this time, the impact may be&nbsp;material. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>(c)&nbsp;Guarantees  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>At
December&nbsp;31, 2011, the company had various indemnification agreements with third parties as described below and provides loan guarantees to certain retail licensees. </FONT></P>


<P style="font-family:;"><FONT SIZE=1>The
company has agreed to indemnify holders of all notes and debentures and the company's credit facility lenders (see&nbsp;note&nbsp;22) for added costs relating to withholding taxes. Similar
indemnity terms apply to certain facility and equipment leases. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>There
is no limit to the maximum amount payable under the indemnification agreements described above. The company is unable to determine the maximum potential amount payable as government regulations
and legislation are subject to change without notice. Under these agreements, the company has the option to redeem or terminate these contracts if additional costs are&nbsp;incurred. </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>124</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<A NAME="page_ge70001_1_125"> </A>

<P style="font-family:;"><FONT SIZE=2><B>33.&nbsp;JOINT VENTURE WITH TOTAL  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>In
March&nbsp;2011, Suncor closed the previously announced transaction to enter into a joint venture with Total E&amp;P Canada&nbsp;Ltd. (Total). The two companies plan to develop the Fort Hills and
Joslyn oil sands mining projects together with the other project partners, and restart the construction of the Voyageur upgrader. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>As
a result of this transaction, Suncor acquired a 36.75% interest in Joslyn for consideration of $842&nbsp;million after closing adjustments. Total acquired a 49% interest in Voyageur, a 19.2%
increase in its interest in Fort Hills (reducing Suncor's interest from 60% to 40.8%), and rights to proprietary mining technology, for cash consideration of $2.662&nbsp;billion after closing
adjustments. </FONT></P>

<P style="font-family:;"><FONT SIZE=1>Overall,
Suncor recognized a loss of $124&nbsp;million, after final closing adjustments, related to the disposition of its interests in Voyageur and Fort Hills and the technology sale. The loss
included the derecognition of $267&nbsp;million of goodwill associated with the disposed interests in Fort Hills and&nbsp;Voyageur. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>34.&nbsp;SUBSEQUENT EVENT  </B></FONT></P>

<P style="font-family:;"><FONT SIZE=1>On
February&nbsp;23,&nbsp;2012, the company announced that it would recommence its Normal Course Issuer Bid&nbsp;(NCIB), and may purchase for cancellation an additional $1&nbsp;billion of its
common shares between February&nbsp;28, 2012 and September&nbsp;5,&nbsp;2012. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>125</B></FONT></P>

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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_di70301_2">Audited Consolidated Financial Statements of Suncor Energy Inc. for the fiscal year ended December 31, 2011</A></FONT><BR>
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<BR></FONT><FONT SIZE=2><B>  Management's Discussion and Analysis for the fiscal year ended December&nbsp;31,&nbsp;2011,<BR>  dated February&nbsp;23, 2012    <BR>    </B></FONT></P>

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


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>MANAGEMENT'S DISCUSSION AND ANALYSIS<BR>  </B></FONT><FONT COLOR="#0035CA" SIZE=1>


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February&nbsp;23, 2012</FONT></P>

<P style="font-family:;"><FONT SIZE=2>This Management's Discussion and Analysis (MD&amp;A) should be read in conjunction with Suncor's December&nbsp;31, 2011 audited Consolidated Financial Statements
and the accompanying notes. Additional information about Suncor filed with Canadian securities regulatory authorities and the United&nbsp;States Securities and Exchange Commission (SEC), including
quarterly and annual reports and the Annual Information Form dated March&nbsp;1, 2012 (the&nbsp;2011 AIF), which is also filed with the SEC under cover of Form&nbsp;40-F, is
available online at www.sedar.com, www.sec.gov and our website www.suncor.com. Information contained in or otherwise accessible through our website does not form&nbsp;a part of this MD&amp;A, and is not
incorporated into this MD&amp;A by&nbsp;reference. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>References
to "we", "our", "Suncor", or "the company" mean Suncor Energy&nbsp;Inc., its subsidiaries, partnerships and joint venture investments, unless the context requires otherwise. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>MD&amp;A&nbsp;&#150;&nbsp;Table of
Contents</U></B></FONT></P>

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<TABLE WIDTH="40%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>1.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Advisories</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>18</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>2.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>2011 Highlights</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>20</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>3.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Suncor Overview</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>22</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>4.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Consolidated Financial Information</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>24</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>5.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Segment Results and Analysis</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>31</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>6.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Fourth Quarter 2011 Analysis</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>45</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>7.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Quarterly Financial Data</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>48</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>8.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Capital Investment Update</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>50</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>9.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Financial Condition and Liquidity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>53</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>10.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Accounting&nbsp;Policies&nbsp;and&nbsp;Critical&nbsp;Accounting Estimates</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>57</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>11.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Risk Factors</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>63</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>12.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Other Items</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>70</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>13.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Non-GAAP Financial Measures Advisory</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>71</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>14.</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%" style="font-family:;"><FONT SIZE=2>Advisory&nbsp;&#150;&nbsp;Forward-Looking Information</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=2>75</FONT></TD>
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>1. ADVISORIES</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Basis of Presentation</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Unless
otherwise noted, all financial information has been prepared in accordance with Canadian generally accepted accounting principles (GAAP), which are within the framework of International
Financial Reporting Standards (IFRS). Effective January&nbsp;1, 2011, the company's audited Consolidated Financial Statements have been prepared in accordance with IFRS, and IFRS&nbsp;1 </FONT> <FONT SIZE=2><I>First-Time Adoption of International
Financial Reporting Standards</I></FONT><FONT SIZE=2> (IFRS&nbsp;1) has been applied. In previous years, the company prepared
its financial statements in accordance with Canadian generally accepted accounting principles in effect prior to January&nbsp;1, 2011 (Previous GAAP). Comparative figures presented in this MD&amp;A
pertaining to Suncor's 2010 results have been restated to be in accordance with IFRS. The impacts of the transition to IFRS on the company's previously reported financial statements for the year ended
December&nbsp;31, 2010, and the opening balance sheet at January&nbsp;1, 2010, are presented in the notes to the audited Consolidated Financial Statements. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Comparative
figures for earnings and cash flows presented in this MD&amp;A pertaining to Suncor's 2009 results were prepared in accordance with Previous GAAP and were not required by IFRS&nbsp;1 or by
the Canadian Securities Administrators to be restated in accordance with IFRS. Users of this information are cautioned that 2009 results may not be directly comparable with those for 2010 and 2011 and
are advised to review the First-Time Adoption of IFRS note to the audited Consolidated Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>All
financial information is reported in Canadian dollars, unless otherwise noted. Certain amounts in prior years have been reclassified to conform to the current year's presentation. Production
volumes are presented on a working-interest basis, before royalties, unless otherwise noted. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>18</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Non-GAAP Financial Measures</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Certain
financial measures in this MD&amp;A&nbsp;&#150;&nbsp;namely operating earnings, cash flow from operations, return on capital employed (ROCE) and Oil Sands cash operating
costs&nbsp;&#150;&nbsp;are not prescribed by GAAP. Operating earnings are defined in the Non-GAAP Financial Measures Advisory section of this MD&amp;A and reconciled to
GAAP net earnings in the Consolidated Financial Information and Segment Results and Analysis sections of this MD&amp;A. Cash flow from operations, ROCE and Oil Sands cash operating costs are defined and
reconciled in the Non-GAAP Financial Measures Advisory section of this MD&amp;A. The company has restated operating earnings from 2010 for the transition to IFRS and operating earnings from
2007 to 2010 for the removal of certain prior period operating earnings adjustments. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>These
non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to be comparable to similar measures presented by other companies. These
non-GAAP financial measures are included because management uses the information to analyze operating performance, leverage and liquidity, and should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with&nbsp;GAAP. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Common Abbreviations</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The following is a list of abbreviations that may be used in this MD&amp;A: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 VALIGN="TOP" style="font-family:;"><FONT SIZE=1><U>Measurement</U></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>bbl</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>barrel</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>bbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>barrels per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mbbls/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>thousands of barrels per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>boe</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>barrels of oil equivalent</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>boe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>barrels of oil equivalent per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mboe</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>thousands of barrels of oil equivalent</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mboe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>thousands of barrels of oil equivalent per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mcf</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>thousands of cubic&nbsp;feet of natural gas</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mcfe</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>thousands of cubic&nbsp;feet of natural gas equivalent</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mmcf</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mmcfe</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas equivalent</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>mmcfe/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>millions of cubic&nbsp;feet of natural gas equivalent per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>m<SUP>3</SUP></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>cubic metres</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>m<SUP>3</SUP>/d</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>cubic metres per day</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>MW</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>megawatts</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 VALIGN="TOP" style="font-family:;"><BR><FONT SIZE=1><U>Places and Currencies</U></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>U.S.</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>United&nbsp;States</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>U.K.</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>United&nbsp;Kingdom</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>$ or Cdn$</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Canadian dollars</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>US$</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>United&nbsp;States dollars</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1> &pound;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Pounds sterling</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1> &euro;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Euros</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 VALIGN="TOP" style="font-family:;"><BR><FONT SIZE=1><U>Financial and Business Environment</U></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>DD&amp;A</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Depreciation, depletion and amortization</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>WTI</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>West Texas Intermediate</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>WCS</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Western Canadian Select</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="11%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>SCO</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP" style="font-family:;"><FONT SIZE=1>Synthetic crude oil</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Other Advisories</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>This MD&amp;A contains forward-looking information based on Suncor's current expectations, estimates, projections and assumptions. This information is subject to a
number of risks and uncertainties, including those discussed in this MD&amp;A and Suncor's other disclosure documents, many of which are beyond the company's control. Users of this information are
cautioned that actual results may differ materially. Refer to the Advisory&nbsp;&#150;&nbsp;Forward-Looking Information section of this MD&amp;A for information on the material risk
factors and assumptions underlying our forward-looking information. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>On
August&nbsp;1, 2009, Suncor completed its merger with Petro-Canada, referred to in this MD&amp;A as the "merger". Amounts disclosed in this MD&amp;A for 2009 reflect the results of
post-merger Suncor from August&nbsp;1, 2009 together with the results of pre-merger Suncor only from January&nbsp;1, 2009 through July&nbsp;31,&nbsp;2009, unless
otherwise noted. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Certain
crude oil and natural gas liquids volumes have been converted to mcfe or mmcfe on the basis of one bbl to six mcf. Also, certain natural gas volumes have been converted to boe or mboe on the
same basis. Any figure presented in mcfe, mmcfe, boe or mboe may be misleading, particularly if used in isolation. A conversion ratio of one bbl of crude oil or natural gas liquids to six mcf of
natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not necessarily represent value equivalency at the wellhead. Given that the value ratio
based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1&nbsp;basis may be misleading as an
indication of&nbsp;value. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>19</B></FONT></P>

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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>2. 2011 HIGHLIGHTS</B></FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Record operating earnings and cash flow from operations.</B></FONT><FONT SIZE=2>
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Net earnings for 2011 were $4.304&nbsp;billion, compared to $3.829&nbsp;billion in 2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Operating earnings&nbsp;<SUP>(1)</SUP> for 2011 were a record $5.674&nbsp;billion, compared to
$2.634&nbsp;billion in&nbsp;2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Cash flow from operations&nbsp;<SUP>(1)</SUP> for 2011 was a record $9.746&nbsp;billion, compared to
$6.656&nbsp;billion in&nbsp;2010. </FONT></DD></DL>
</DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>These
record financial results were due primarily to higher average upstream price realizations and downstream refining margins, and increased production from Oil&nbsp;Sands. </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>ROCE&nbsp;<SUP>(1)</SUP> (excluding major projects in progress) was 13.8% for the twelve months ended
December&nbsp;31, 2011, compared to 11.4% for the twelve months ended December&nbsp;31, 2010. ROCE continues to improve and is at its highest level since the merger with Petro-Canada.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Balance sheet strength.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>The
company has a strong balance sheet with reduced net debt, due to significant cash flow from its integrated operations and proceeds from asset dispositions. </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Net debt at December&nbsp;31, 2011 was $7.0&nbsp;billion, and has decreased from $11.3&nbsp;billion at
December&nbsp;31,&nbsp;2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Cash and cash equivalents at December&nbsp;31, 2011 was $3.8&nbsp;billion and has increased from $1.1&nbsp;billion at
December&nbsp;31,&nbsp;2010. </FONT></DD></DL>
</UL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations exceeded 2011 capital and exploration expenditures (including capitalized interest) by $2.9&nbsp;billion. Combined with proceeds from transactions with Total E&amp;P
Canada&nbsp;Ltd. (Total E&amp;P) and other asset divestitures, Suncor cash balances increased significantly during the year. Suncor maintained its strong cash position throughout 2011, while increasing
capital expenditures, repaying debt, completing a share repurchase program and increasing its dividend. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During&nbsp;2011:
</FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The company spent $6.850&nbsp;billion on capital and exploration expenditures, compared to $6.010&nbsp;billion in 2010.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The company repaid $500&nbsp;million of long-term debt and over $1.2&nbsp;billion of
short-term&nbsp;debt.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The company repurchased 17.1&nbsp;million shares, returning $500&nbsp;million to shareholders.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Starting in the second quarter of 2011, the company increased its quarterly dividend by 10% to $0.11 per common&nbsp;share.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Leadership transition&nbsp;&#150;&nbsp;Suncor's long-standing CEO to
retire.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>In
early December, Rick George, Suncor's chief executive officer (CEO), announced his plan to retire after more than 20&nbsp;years at the helm. Steve Williams, Suncor's chief operating officer, was
appointed as president and a member of the company's Board of Directors, and will assume the role of CEO upon Mr.&nbsp;George's retirement in May&nbsp;2012. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Record production from Oil Sands reflected improved reliability through operational excellence.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Oil
Sands production averaged a record 304,700&nbsp;bbls/d in 2011. Production reflected improved reliability and increased bitumen feedstock from mining and In Situ operations. Oil Sands production
averaged 345,000&nbsp;bbls/d in December, another record. Production results for 2011 included the impacts of the largest planned maintenance event in the company's history, which was completed
safely and on&nbsp;schedule. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>In Situ production exits 2011 at 111,000&nbsp;bbls/d.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Concurrent
with the ramp up of production from the first well pad at the Firebag Stage&nbsp;3 expansion and infill wells brought on-stream at existing well pads throughout the second
half of 2011, In Situ bitumen production surpassed 100,000&nbsp;bbls/d in late October, and exited 2011 at approximately 111,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
ramp up of bitumen production from the Firebag Stage&nbsp;3 expansion is expected to continue in&nbsp;2012. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Progress on major growth projects.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Construction
activity for the Firebag Stage&nbsp;3 expansion is complete, while construction activity for the Firebag Stage&nbsp;4 expansion is well underway. The company expects to begin
production from the Stage&nbsp;4 expansion late in the first quarter of&nbsp;2013. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company started mining ore from the North Steepbank Extension (NSE) in late December. The hydrogen plant for the Millennium Naphtha Unit (MNU) produced hydrogen in December, before being taken
off-line for minor modifications prior to further </FONT></P>

</UL>

<P style="font-family:;"><FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>20</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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

<P style="font-family:;"><FONT SIZE=2>commissioning.
The start-up of the naphtha hydrotreater for the MNU is expected in&nbsp;2012. </FONT></P>


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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Transactions with Total E&amp;P and the creation of Oil Sands Ventures.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>After
receiving the necessary regulatory approvals, in the first quarter of 2011, Suncor and Total E&amp;P completed the transactions they had previously announced in December&nbsp;2010. In exchange for
net proceeds of $1.820&nbsp;billion and a 36.75% interest in the Joslyn oil sands mining project, Suncor sold to Total E&amp;P a 49% interest in the Voyageur upgrader and a 19.2% interest in the Fort
Hills oil sands mining&nbsp;project. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
order to manage and develop these new jointly owned assets, Suncor created a new business area&nbsp;&#150;&nbsp;Oil Sands Ventures. Throughout 2011, Oil Sands Ventures
focused on ensuring the successful restart of the Fort Hills mining and Voyageur upgrader projects, and building organizational expertise and capacity to effectively manage these projects as well as
Suncor's interests in Syncrude and the Joslyn mining&nbsp;project. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Suncor's integrated business model reaps the rewards of a strong refining environment.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>The
Refining and Marketing segment contributed over $2.5&nbsp;billion to cash flow from operations in 2011. Throughout much of the year, North American refining margins were very strong,
particularly for inland refineries&nbsp;&#150;&nbsp;such as Suncor's Edmonton, Sarnia and Commerce City refineries&nbsp;&#150;&nbsp;due to a wider
discount for WTI crude, compared to Brent&nbsp;crude. Despite major planned maintenance events in 2011 at each of these inland refineries, overall refining utilization averaged 92% for 2011,
reflecting the company's focus on reliable operations. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Unrest in Libya and Syria.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>In
Libya, for much of the year, production was shut-in and all operations and exploration activities were suspended due to political unrest that led to international sanctions and Suncor
declaring force majeure under its contractual obligations. The transition to a new government in Libya later in 2011 resulted in the lifting of sanctions impacting Suncor's operations in Libya.
Production from all major fields was successfully restarted by the joint venture operator in late 2011 and early 2012. Suncor is optimistic about a gradual return to full operations in
the&nbsp;country. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
Syria, amid continuing unrest, sanctions were introduced that resulted in Suncor declaring force majeure under its contractual obligations and suspending its operations in the country. The company
has ceased recording all production and revenue from its Syrian assets. The company continues to comply with all relevant sanctions. </FONT></P>


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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Non-core asset divestiture activity winds down.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>During
the year, the company completed dispositions of non-core assets in the U.K.&nbsp;portion of the North Sea and Western Canada for total net proceeds of $304&nbsp;million. Due to
market conditions confronting the company's North America Onshore operations, opportunities to divest additional natural gas properties that met the company's financial objectives were limited. </FONT></P>


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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Suncor continues investment in renewable energy&nbsp;assets.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Suncor
completed the expansion of its ethanol plant in Ontario that doubled production capacity to 400&nbsp;million litres per year and confirmed the plant as Canada's largest biofuels production
facility. Suncor also commenced operations at two new wind power projects&nbsp;&#150;&nbsp;the 88-MW Wintering Hills project in southern Alberta and the
20-MW Kent Breeze project in southwest Ontario. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Systems integration project completed.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>The
company completed the integration of assets acquired in the merger with Petro-Canada onto a common information systems platform. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Energy Trading optimizes price realizations for Oil&nbsp;Sands&nbsp;barrels.</B></FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Suncor's
Energy Trading business contributed significantly to cash flow from operations in 2011. This business supports Oil Sands production by optimizing price realizations and managing inventory
levels. In recent years, the Energy Trading business has entered into arrangements for midstream infrastructure, such as pipeline and storage capacity, which enables Suncor to optimize the delivery of
existing and future growth production. </FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Operating
earnings, cash flow from operations and ROCE are non-GAAP financial measures. The company has restated operating earnings from 2010 for the transition to IFRS
and for the removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>21</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>3. SUNCOR OVERVIEW</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor is an integrated energy company headquartered in Calgary, Alberta. Suncor has classified its operations into the following segments: </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>OIL SANDS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's Oil Sands segment, with assets located in northeast Alberta, recovers bitumen from mining and in situ operations and upgrades the majority of this
production into refinery feedstock, diesel fuel and byproducts. The Oil Sands segment includes: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands</B></FONT><FONT SIZE=2> operations refers to Suncor's wholly owned and operated mining, extraction, upgrading and
in situ assets in the Athabasca oil sands region. Oil Sands activities consist&nbsp;of:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands Base</B></FONT><FONT SIZE=2> operations include the Millennium and Steepbank (including the
NSE) mining and extraction operations, two integrated upgrading facilities known as Upgrader 1 and Upgrader 2, and the associated infrastructure for these
assets&nbsp;&#150;&nbsp;including utilities, energy and reclamation facilities, such as Tailings Reduction Operations (TRO<SUB>TM</SUB>)&nbsp;assets.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>In Situ</B></FONT><FONT SIZE=2> operations include oil sands bitumen production from Firebag and MacKay
River, and supporting infrastructure, such as central processing facilities and cogeneration units. The majority of In Situ production is upgraded by Oil Sands Base; however, the company's marketing
plan includes sales of bitumen when marketing conditions are favourable or as operating conditions at Oil Sands Base require.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Oil Sands Ventures</B></FONT><FONT SIZE=2> includes the company's interests in significant growth projects, including two
where Suncor is the operator&nbsp;&#150;&nbsp;the Fort Hills mining project (40.8%) and the Voyageur upgrader project (51%)&nbsp;&#150;&nbsp;and one where
Total E&amp;P is the operator&nbsp;&#150;&nbsp;the Joslyn mining project (36.75%). Oil Sands Ventures also includes the company's 12% interest in the Syncrude oil sands mining and
upgrading joint&nbsp;venture. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>EXPLORATION AND PRODUCTION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In January&nbsp;2011, Suncor combined its International and Offshore and Natural Gas segments into the Exploration and Production segment, which consists of
offshore operations off the east coast of Canada and in the North Sea, and onshore operations in North America, Libya and&nbsp;Syria. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>East Coast Canada</B></FONT><FONT SIZE=2> operations include Suncor's 37.675% working interest in Terra Nova, for which
Suncor is the operator. Suncor also holds a 20% interest in the Hibernia base project and a 19.5% interest in the Hibernia Southern Extension Unit (HSEU), a 27.5% interest in the White Rose base
project and a 26.125% interest in the White Rose Extensions, and a 22.729% interest in Hebron, all of which are operated by other companies.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>International</B></FONT><FONT SIZE=2> operations include Suncor's 29.89% working interest in Buzzard and a 26.69% interest
in the Golden Eagle Area Development (Golden Eagle)&nbsp;&#150;&nbsp;both of which are operated by another company&nbsp;&#150;&nbsp;in the
U.K.&nbsp;portion of the North Sea. Suncor also holds interests in several North Sea licences offshore the U.K. and Norway. Suncor owns, pursuant to a Production Sharing Contract (PSC), an interest
in the Ebla gas development in the Ash Shaer and Cherrife areas in Syria. Suncor also owns, pursuant to Exploration and Production Sharing Agreements (EPSAs, a form of PSC), working interests in the
exploration and development of oilfields in the Sirte Basin in&nbsp;Libya. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>Due
to recent unrest in both countries, the company has declared force majeure under its contractual obligations in Libya and Syria. Operations in Libya are in the process of restarting, while
operations in Syria have been suspended indefinitely. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>North America Onshore</B></FONT><FONT SIZE=2> operations include Suncor's interests in a number of assets in Western Canada,
which primarily produce natural&nbsp;gas. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>22</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>REFINING AND MARKETING</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's Refining and Marketing segment consists of two primary operations: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Refining and Product Supply</B></FONT><FONT SIZE=2> operations refine crude oil into a broad range of petroleum and
petrochemical products. Eastern North America operations include refineries located in Montreal, Quebec and Sarnia, Ontario, and a lubricants business located in Mississauga, Ontario that
manufactures, blends and markets products worldwide. Western North America operations include refineries located in Edmonton, Alberta, and Commerce City, Colorado. Other assets include interests in a
petrochemical plant, pipelines and product terminals in Canada and the&nbsp;U.S.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Downstream </FONT><FONT SIZE=2><B>Marketing</B></FONT><FONT SIZE=2> operations sell refined petroleum products and lubricants to retail, commercial
and industrial customers through a combination of company-owned, branded-dealer and other retail stations in Canada and Colorado, a nationwide commercial road transport network in Canada, and a bulk
sales&nbsp;channel in Canada. </FONT></DD></DL>
<BR><BR>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>CORPORATE, ENERGY TRADING AND ELIMINATIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The grouping </FONT><FONT SIZE=2><B>Corporate, Energy Trading and Eliminations</B></FONT><FONT SIZE=2> includes the company's investments in renewable energy
projects, results related to energy supply and trading activities, and other activities not directly attributable to any other operating segment. </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Renewable Energy</B></FONT><FONT SIZE=2> interests include six operating wind power projects and the St.&nbsp;Clair
ethanol plant in&nbsp;Ontario.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Energy Trading</B></FONT><FONT SIZE=2> activities primarily involve the marketing and trading of crude oil, natural gas,
refined petroleum products and byproducts, and the use of midstream infrastructure and financial derivatives to optimize related trading strategies.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><B>Corporate</B></FONT><FONT SIZE=2> includes stewardship of Suncor's debt and borrowing costs, expenses not allocated to the
company's businesses, and the company's captive insurance activities that self-insure a portion of the company's asset&nbsp;base.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Intersegment revenues and expenses are removed from consolidated results in </FONT><FONT SIZE=2><B>Group Eliminations</B></FONT><FONT SIZE=2>.
Intersegment activity includes the sale of feedstock by the Oil Sands and Exploration and Production segments to the Refining and Marketing segment, the sale of fuels and lubricants by the Refining
and Marketing segment to the Oil Sands segment, the sale of ethanol by the Renewable Energy business to the Refining and Marketing segment, and the provision of insurance for a portion of the
company's operations by the Corporate captive insurance entity. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>23</B></FONT></P>

<HR NOSHADE>
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 </B></FONT><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>4. CONSOLIDATED FINANCIAL INFORMATION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions, except per share amounts)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Net earnings</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>per common share&nbsp;&#150;&nbsp;basic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.74</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.96</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>per common share&nbsp;&#150;&nbsp;diluted</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2.67</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;674</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;634</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;115</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>per common share&nbsp;&#150;&nbsp;basic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.61</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.69</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.93</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cash flow from operations</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;746</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;656</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>per common share&nbsp;&#150;&nbsp;basic</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6.20</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.34</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Dividends paid on common shares</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>664</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>611</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>401</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>per common share</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.43</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.30</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Operating revenues</B></FONT><FONT SIZE=1> (net&nbsp;of royalties)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39&nbsp;337</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;003</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17&nbsp;459</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Balance sheet</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Total assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>74&nbsp;777</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68&nbsp;607</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69&nbsp;746</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Long-term debt (including current portion)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;016</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;347</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;880</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;976</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;254</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;377</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Segment
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings (loss)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;603</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;520</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>557</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;938</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>819</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>407</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(331</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(448</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating earnings (loss)&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;737</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;379</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;048</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;358</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;193</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>150</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>796</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>455</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(147</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(734</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(538</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;674</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;634</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;115</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow from (used in) operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;572</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;777</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;251</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;846</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;325</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;280</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;574</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;538</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>921</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(246</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(653</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;746</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;656</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;799</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared in accordance with Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings are reconciled to net earnings in this section of the MD&amp;A under the heading Consolidated Operating Earnings
Reconciliation. The company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings from 2009 and 2010 for the removal of certain prior period operating
earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>24</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=8,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=7396,FOLIO='24',FILE='DISK135:[12ZAL1.12ZAL70001]DJ70001A.;14',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dj70001_1_25"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Highlights</U></B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Production volumes </FONT><FONT SIZE=1>(mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>339.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>318.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>306.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>206.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>296.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>149.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>



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<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>546.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>615.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>456.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Average price realizations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Oil Sands </FONT><FONT SIZE=1>($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>90.07</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>62.53</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Exploration and Production </FONT><FONT SIZE=1>($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>80.62</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59.47</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>57.44</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>86.49</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.32</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47.47</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Refined product sales volumes </FONT><FONT SIZE=1>(thousands of m<SUP>3</SUP>/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>43.5</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>45.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>83.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2><B>
<IMG SRC="g333787.jpg" ALT="GRAPHIC" WIDTH="675" HEIGHT="283">
  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
volume for divestitures compares annualized 2011 production with total production from 2010 for divested assets. Other figures presented for changes in production volumes include
all other factors impacting production volumes. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The decrease in production volumes for 2011, compared with 2010, reflects primarily asset dispositions completed throughout 2010 and 2011. Suncor disposed of
non-core natural gas assets in Western Canada and the U.S.&nbsp;Rockies, which contributed approximately 27.4&nbsp;mboe/d more production than in 2011 (comprised of 23.8&nbsp;mboe/d
from assets disposed in 2010 and 3.6&nbsp;mboe/d from assets disposed in 2011). Suncor also disposed of non-core North Sea assets, which contributed 19.7&nbsp;mboe/d more production in
2010, and Trinidad and Tobago assets representing 6.7&nbsp;mboe/d of 2010 production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Oil Sands, the production increase primarily reflected higher output from Oil Sands Base mining and extraction operations and the negative impacts of two upgrader fires at Oil Sands Base on
production in the first half of 2010. Production from Syncrude in 2011 decreased slightly compared with 2010, due mainly to operational issues experienced late in&nbsp;2011. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Excluding
the impacts of asset divestitures, for Exploration and Production, decreases for International reflected primarily the shut-in of production in Libya for most of the year due to
political unrest and outages at Buzzard for the repair of the cooling system and the completion and commissioning of the fourth platform. These decreases for International were partially offset by a
year-over-year increase from Syria, which started producing in April&nbsp;2010. Decreases for East Coast Canada primarily reflected the partial shut-in of
production at Terra Nova due to the presence of hydrogen sulphide (H<SUB>2</SUB>S) in some wells. Decreases for North America Onshore primarily reflected natural declines in reservoir performance. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>25</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=9,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=269451,FOLIO='25',FILE='DISK135:[12ZAL1.12ZAL70001]DJ70001A.;14',USER='JDAY',CD='29-FEB-2012;16:44' -->
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Net Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's net earnings for 2011 were $4.304&nbsp;billion, compared to $3.829&nbsp;billion in 2010. Net earnings were primarily affected by the same factors
that influenced operating earnings, which are described in this section of the MD&amp;A under the heading Operating Earnings. Other items affecting changes in net earnings in 2011, compared with
2010,&nbsp;included: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operating Earnings Adjustments</B></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The after-tax unrealized foreign exchange loss on the revaluation of U.S.&nbsp;dollar denominated long-term debt was
$161&nbsp;million in 2011, compared with a gain of $372&nbsp;million in 2010. During 2011, the US$/Cdn$ exchange rate decreased from 1.01 to 0.98. During 2010, the US$/Cdn$ exchange rate increased
from 0.96 to&nbsp;1.01.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2011, the company recorded net impairment charges of $503&nbsp;million ($514&nbsp;million initial impairment, net of $11&nbsp;million of
subsequent impairment reversals) against assets pertaining to its operations in Libya, which were shut-in as a result of unrest. The company also recorded $68&nbsp;million of
after-tax impairment charges against certain North America Onshore assets due to decreasing natural gas prices and after-tax write-offs of crude inventories of
$58&nbsp;million due primarily to third-party pipeline adjustments. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>In
2010, the company recorded after-tax write-offs of $143&nbsp;million relating primarily to equipment used in an alternative mining and extraction process that was
discontinued, after-tax impairment charges of $111&nbsp;million against certain North America Onshore assets primarily due to decreasing natural gas prices, and after-tax
impairment charges of $52&nbsp;million against non-core U.K.&nbsp;assets that were eventually sold later in 2010 and in&nbsp;2011. </FONT></P>


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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In the first quarter of 2011, the U.K.&nbsp;government announced an increase in the tax rate on oil and gas profits in the North Sea that
increased the statutory tax rate on Suncor's earnings in the U.K.&nbsp;from 50% to 59.3% in 2011 and to 62% in future years. As a result, the company revalued its deferred income tax balances,
resulting in an increase to deferred income tax expense of $442&nbsp;million.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2011, the company disposed of assets resulting in after-tax losses of $107&nbsp;million, consisting of $99&nbsp;million on the
partial disposition of interests in the Voyageur upgrader and Fort Hills projects, and $8&nbsp;million for the sale of non-core Exploration and Production assets. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>In
2010, the company sold several non-core Exploration and Production assets (described in the Segment Results and Analysis&nbsp;&#150;&nbsp;Exploration and
Production section of this MD&amp;A) and realized after-tax gains on disposal of $826&nbsp;million. </FONT></P>

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</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2011, Suncor recorded an after-tax provision of $31&nbsp;million in the Exploration and Production segment related to a royalty
dispute concerning the deductibility of certain costs for a period before the merger with Petro-Canada. </FONT></DD></DL>
<UL>

<P style="font-family:;"><FONT SIZE=2>In
2010, Suncor recorded after-tax expenses of $68&nbsp;million for several other write-offs and provisions related to assets acquired in the&nbsp;merger. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2010, the Oil Sands segment recorded after-tax gains of $233&nbsp;million related to the change in fair value of certain
commodity derivatives, net of realizations, which the company had entered into in previous years to manage the volatility of sales prices for its&nbsp;production.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2010, Suncor recognized an after-tax gain of $166&nbsp;million for the redetermination of its working interest in the Terra Nova
oilfield, upon which the joint owners of Terra Nova reached agreement on a technical review of the interests they contributed.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In 2010, Suncor recognized a favourable royalty recovery related to modifications made by the Alberta government to the Bitumen Valuation
Methodology (BVM) calculation applicable to Suncor for the interim period from January&nbsp;1, 2009 to December&nbsp;31,&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>26</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Consolidated Operating Earnings
Reconciliation</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP></FONT></P>

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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Net earnings as reported</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term&nbsp;debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>161</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(798</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>629</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>306</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>442</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Loss (gain) on significant disposals</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>107</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(826</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the&nbsp;merger&nbsp;<SUP>(4)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Change in fair value of commodity derivatives used for risk management, net of&nbsp;realizations&nbsp;<SUP>(5)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(233</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>499</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Redetermination of working interest in Terra&nbsp;Nova</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(166</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Modification of the bitumen valuation methodology</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(51</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Merger and integration costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>151</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Gain on effective settlement of pre-existing contract with Petro- Canada&nbsp;<SUP>(6)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(438</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Costs related to deferral of growth projects&nbsp;<SUP>(7)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>299</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;674</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;634</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;115</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Operating
earnings is a non-GAAP financial measure. All reconciling items are presented on an after-tax basis. See the Non-GAAP Financial Measures
Advisory section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings for 2009 and 2010 for the removal of certain prior period operating
earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Adjustment
in 2011 related to a royalty dispute for a period prior to the merger. Adjustments in 2010 were for pipeline commitments that the company determined to be unfavourable as a
result of certain non-core North America Onshore asset dispositions, the write-off of certain unproven properties in the Exploration and Production segment, changes in the
provision for the cancellation of the Montreal refinery coker project, a dry hole in Libya, and other cost estimates associated with the transition to EPSAs in Libya. Adjustments in 2009 included the
negative impact associated with inventory acquired at fair&nbsp;value.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Adjustments
represent the change in fair value of significant crude oil risk management derivatives, net of realized gains and losses recognized on the final settlement of those
derivatives. The company also holds less significant risk management derivatives for which the company does not adjust net earnings. The company held no significant crude oil risk management
derivatives in&nbsp;2011.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(6)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Impact
from the deemed settlement value assigned to the bitumen processing contract with Petro-Canada upon close of the&nbsp;merger.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(7)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
company incurred costs related to placing certain growth projects into "safe mode" due to unfavourable market conditions in prior years. The company stopped removing these costs
from operating earnings effective January&nbsp;1, 2010. After-tax safe mode costs for the years ended December&nbsp;31, 2011 and 2010 were approximately $57&nbsp;million and
$94&nbsp;million, respectively. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>
<IMG SRC="g333557.jpg" ALT="GRAPHIC" WIDTH="675" HEIGHT="306">
  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Factors
represent after-tax variances and include the impacts of operating earnings adjustments. These factors are analyzed in the Operating Earnings narrative immediately
subsequent to this bridge analysis. This bridge analysis is presented because management uses this presentation to analyze performance.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Calculated
based on upstream production volumes and Refining and Marketing sales&nbsp;volumes.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
upstream price realizations before royalties and transportation costs, refining and marketing margins, other operating revenues, and the net impacts of sales and purchases of
third-party crude.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
Inventory variance factor reflects the opportunity cost of building production volumes in inventory or the additional margin earned by drawing down inventory produced in previous
periods. The calculation of the Inventory variance factor in this bridge analysis permits the company to present the Volume variance factor for upstream assets based on production volumes, rather than
based on sales&nbsp;volumes.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor includes transportation expense, operating, selling and general expense and project start-up&nbsp;costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(6)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor also includes changes in gains and losses on disposal of assets that are not operating earnings adjustments, changes in effective income tax rates, and other income tax
adjustments. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>27</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's consolidated operating earnings&nbsp;<SUP>(1)</SUP> for 2011 were $5.674&nbsp;billion, compared to $2.634&nbsp;billion in 2010. Positive
factors impacting operating earnings in 2011, compared with 2010,&nbsp;included: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Average price realizations for crude oil production from upstream assets were considerably higher in 2011, consistent with significant increases
in benchmark prices for WTI and Brent crudes. The average price realization for the Oil Sands segment in 2011 was $90.07/bbl, compared to $70.85/bbl in 2010. The average price realization for the
Exploration and Production segment was $80.62/boe in 2011, compared to $59.47/boe in&nbsp;2010.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Refining margins were higher in 2011, reflected by large increases in benchmarks for 3-2-1&nbsp;crack spreads. Refining
margins also benefited from the increasing crude price environment, whereby inventories produced during periods of lower feedstock costs were sold and replaced with inventories purchased at relatively
higher feedstock costs.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Oil Sands production volumes (excluding Syncrude) increased to 304.7&nbsp;mbbls/d from 283.0&nbsp;mbbls/d, due primarily to higher bitumen
output from Oil Sands Base and In Situ operations. Production volumes from the first half of 2010 were impacted by two upgrader&nbsp;fires.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Financing expense was lower in 2011 than 2010, due mainly to an increase in capitalized interest (approximately $225&nbsp;million more
capitalized after tax). Suncor capitalized a higher percentage of its borrowing costs due mainly to amounts capitalized for the Voyageur upgrader, Fort Hills and Joslyn projects, subsequent to the
completion of transactions with Total&nbsp;E&amp;P.



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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Other income was higher in 2011 than 2010, due mainly to higher operating earnings from Suncor's Energy Trading business. In addition, in 2010,
the company realized losses on the final settlement of risk management activities pertaining to derivatives the company had entered into in previous years to manage the volatility of sales prices for
its&nbsp;production.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Share-based compensation expense was lower in 2011 than in 2010, due mainly to a decrease in the company's common stock price during the second
half of the year. Operating expense for 2011 included after-tax share-based compensation expense of $24&nbsp;million, whereas operating expense for 2010 included after-tax
share-based compensation expense of $146&nbsp;million.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Inventory variance factor was positive, primarily for Oil Sands, because inventories that were produced during the prior year at relatively
lower production costs were sold and replaced by inventories produced during the current year at relatively higher production costs.



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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>DD&amp;A was lower in 2011 than in 2010, due mainly to lower production volumes from Exploration and Production. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
positive factors noted above were partially offset by the following: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production volumes for the Exploration and Production segment decreased to 206.7&nbsp;mboe/d from 296.9&nbsp;mboe/d, primarily due to the
divestiture of non-core assets throughout 2010 and 2011, the shut-in of production in Libya for the majority of 2011, unplanned outages at Buzzard, and the partial
shut-in of wells at Terra Nova due to the presence of&nbsp;H<SUB>2</SUB>S.


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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Operating expenses, excluding the impacts of share-based compensation expense, were significantly higher in 2011 than in 2010, due mainly to the
increase for the Oil Sands segment. Oil Sands Base mining costs were higher and reflected increased bitumen output and higher tonnes of ore moved while working through an area of lower bitumen ore
grade quality. Oil Sands Base upgrading costs were higher due mainly to maintenance associated with secondary upgrading units. In Situ costs were higher due mainly to higher operating expenses and
start-up costs associated with the Firebag Stage&nbsp;3&nbsp;expansion.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Royalties were higher in 2011 than in 2010, mainly due to higher overall upstream price realizations. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Cash Flow from Operations</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Consolidated cash flow from operations&nbsp;<SUP>(1)</SUP> for 2011 was $9.746&nbsp;billion, compared to $6.656&nbsp;billion in 2010. The increase
was mainly due to the same factors that affected the increase in operating earnings, particularly higher upstream price realizations, refining margins and production from Oil&nbsp;Sands. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Results for 2010 compared with 2009</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Net earnings for 2010 were $3.829&nbsp;billion compared to $1.146&nbsp;billion in 2009. Operating earnings&nbsp;<SUP>(1)</SUP> for 2010 were
$2.634&nbsp;billion compared to $1.115&nbsp;billion in 2009. These increases were due primarily to the inclusion of a full year of operations from assets acquired in the merger with Petro-Canada
on August&nbsp;1, 2009 and higher upstream price realizations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Upstream
production for 2010 averaged 615.1&nbsp;mboe/d, compared to 456.0&nbsp;mboe/d in 2009. Downstream refined </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>28</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>product
sales averaged 87,300&nbsp;m<SUP>3</SUP>/d in 2010, compared to 54,900&nbsp;m<SUP>3</SUP>/d in 2009. Both volumes increased primarily due to new assets acquired in the merger. Higher
production also meant higher royalties and DD&amp;A in 2010, compared with 2009. The merger increased Suncor's asset base by approximately $35.8&nbsp;billion (including goodwill) and
long-term debt by $4.4&nbsp;billion. Net earnings in 2010 included $826&nbsp;million of after-tax gains on disposal of non-core assets, many of which were
acquired through the&nbsp;merger. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Average
price realizations were higher in 2010 than in 2009, as increases in important crude benchmarks like WTI and Brent more than offset the impacts of an increasing light/heavy crude differential
and the Canadian dollar strengthening against the U.S.&nbsp;dollar. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Much
of 2009 was affected by the general economic downturn. Suncor incurred after-tax expenses of $299&nbsp;million to place certain growth projects in safe&nbsp;mode. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations&nbsp;<SUP>(1)</SUP> was $6.656&nbsp;billion in 2010, compared to $2.799&nbsp;billion in 2009, and increased due mainly to the impacts of higher upstream
production volumes from assets acquired in the merger and higher average price realizations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Net
debt decreased by $2.1&nbsp;billion in 2010. Suncor sold non-core assets for total proceeds of approximately $3.5&nbsp;billion during 2010 and used these funds mainly to reduce
total&nbsp;debt. </FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Operating
earnings and cash flow from operations are non-GAAP financial measures. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Business Environment</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Commodity prices, refining crack spreads and foreign exchange rates are some of the most significant factors that affect the results of Suncor's operations. </FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>(average for the year ended December&nbsp;31, except as noted)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>



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</FONT>
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</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>WTI crude oil at Cushing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>95.10</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79.55</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.80</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Dated Brent crude oil at Sullom Voe</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>111.15</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79.50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Dated Brent/Maya FOB price differential</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12.50</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.30</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Canadian 0.3% par crude oil at Edmonton</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>95.75</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.05</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>65.80</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Light/heavy crude oil differential for WTI at Cushing less WCS at&nbsp;Hardisty</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17.25</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.20</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Condensate at Edmonton</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>105.30</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81.90</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>60.45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Natural gas (Alberta spot) at AECO</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>Cdn$/mcf</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.65</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.15</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.15</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>New&nbsp;York Harbor 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27.00</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.55</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.80</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Chicago 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>24.65</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.00</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.75</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Portland 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28.40</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.55</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Gulf Coast 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>24.80</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.90</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Exchange rate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/Cdn$</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.01</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.97</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.88</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%" style="font-family:;"><FONT SIZE=1>Exchange rate (end&nbsp;of period)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>US$/Cdn$</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.98</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.01</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.96</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>3-2-1&nbsp;crack
spreads are indicators of the refining margin generated by converting three barrels of WTI into two barrels of gasoline and one barrel of
diesel. The crack spreads presented here generally approximate the regions into which the company sells refined products through retail and wholesale channels. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Suncor's sweet SCO price realizations are influenced primarily by changes in the price for WTI at Cushing. The average WTI price for 2011 increased to
US$95.10/bbl from US$79.55/bbl in 2010. The WTI price continued to fluctuate significantly throughout 2011, and at times was as high as US$113/bbl and as low as US$80/bbl. Suncor's price realizations
for SCO are also influenced by the supply and demand of sweet SCO from Western Canada. In 2011, sweet SCO averaged trading at a significant premium to&nbsp;WTI. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
produces a specific grade of sour SCO, the price realizations for which are influenced by changes to various crude benchmarks including, but not limited to, Canadian par crude at Edmonton and
WCS at Hardisty, but which can also be affected by circumstances underlying spot sales required to manage inventory levels. Similar to WTI, prices for Canadian par crude at Edmonton increased
significantly in 2011, compared to 2010. The average Edmonton par price was US$95.75/bbl in 2011 and US$78.05/bbl in&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Bitumen
production that Suncor does not upgrade is blended with diluent (or&nbsp;SCO) to facilitate delivery on pipeline systems to customers. Net bitumen price realizations are, therefore,
influenced by prices for Canadian heavy crude oil (WCS&nbsp;at Hardisty is a common reference) and prices for diluent (Condensate at Edmonton). Diluent is sourced primarily from the company's own
upgrading and refining facilities; however, </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>29</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>purchases
of diluent from third parties may be required when the company experiences operational outages. Bitumen price realizations can also be affected by bitumen quality and spot sales to manage
inventory levels, and bitumen quality. Average price realizations for bitumen in 2011 were higher than those realized in 2010, due mainly to higher overall crude oil prices partially offset by wider
light/heavy differentials and higher prices for&nbsp;diluent. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
price realizations for production from East Coast Canada and International assets are influenced primarily by the price for Brent crude. Brent crude averaged US$111.15/bbl in 2011, much
higher than the average of US$79.50/bbl in
2010. The Brent crude price also fluctuated significantly throughout 2011, averaging over US$100/bbl since February, and at times was as high as US$126/bbl. Brent crude also began to trade at a
substantial premium to WTI, averaging US$16.05/bbl for 2011, compared to a small discount of $0.05/bbl in&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
price realizations for North America Onshore natural gas production are primarily referenced to Alberta spot at AECO. The AECO benchmark averaged $3.65/mcf in 2011, which was lower than the
average AECO benchmark of $4.15/mcf in&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
refining margins are influenced primarily by 3-2-1&nbsp;crack spreads, which are industry indicators approximating the gross margin on a barrel of crude oil that is
refined to produce gasoline and distillates, and by light/heavy and light/sour crude differentials, which indicate when more complex refineries can earn greater margins by processing less expensive,
heavier crudes. Crack spreads do not necessarily reflect the margins of a specific refinery because these benchmarks are calculated based off of WTI. In 2011, crack spreads were very high; in part
because refined product prices reflected the higher priced Brent crude feedstock of coastal North American markets. This positively benefited Suncor's inland refineries (Sarnia, Edmonton and Commerce
City) for much of 2011. Specific refinery margins are further impacted by actual crude purchase costs, refinery configuration and refined product sales markets unique to that refinery's
supply&nbsp;orbit. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
majority of Suncor's revenues from the sale of oil and natural gas commodities are based on prices that are determined by, or referenced to, U.S.&nbsp;dollar benchmark prices. The majority of
Suncor's expenditures are realized in Canadian dollars. An increase in the value of the Canadian dollar relative to the U.S.&nbsp;dollar will decrease revenue received from the sale of commodities.
A decrease in the value of the Canadian dollar relative to the U.S.&nbsp;dollar will increase the revenues received from the sale of&nbsp;commodities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Conversely,
many of Suncor's assets and liabilities are denominated in U.S.&nbsp;dollars, most notably much of the company's long-term debt, and translated to Suncor's reporting currency
(Canadian dollars) at each balance sheet date. An increase in the value of the Canadian dollar relative to the U.S.&nbsp;dollar from the previous balance sheet date decreases the Canadian dollars
required to settle U.S.&nbsp;dollar denominated obligations and results in unrealized translation gains. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, although the average US$/Cdn$ exchange rate of 1.01&nbsp;reflected a stronger relative Canadian dollar over the entire year, the change in the US$/Cdn$ exchange rate from the beginning of
the year (1.01) to the end of the year (0.98) impacted the year-end translation of U.S.&nbsp;dollar denominated balances as if the Canadian dollar was relatively weaker. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Economic
Sensitivities</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)(2)(3)</SUP></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following table illustrates the estimated effects that changes in certain factors would have had on 2011 net earnings and cash flow from operations if the listed changes had&nbsp;occurred. </FONT></P>

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<TD WIDTH="76%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>(Estimated change, in $&nbsp;millions)</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Net<BR>
Earnings</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cash Flow<BR>
From<BR>
Operations</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>Crude oil +US$1.00/bbl</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>81</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>108</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>Natural gas +Cdn$0.10/mcf</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>Light/heavy differential +US$1.00/bbl</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>58</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>3-2-1&nbsp;crack spreads +US$1.00/bbl</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>134</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="76%" style="font-family:;"><FONT SIZE=1>Foreign exchange +$0.01&nbsp;US$/Cdn$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(37</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(150</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Each
line item in this table shows the effects of a change in that variable only, with other variables being held consistent.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Changes
for a variable imply that all such similar variables are impacted, such that Suncor's average price realizations increase uniformly. For instance, "Crude oil +US$1.00/bbl"
implies that price realizations influenced by WTI, Brent, SCO, WCS, par crude at Edmonton and Condensate all increase by&nbsp;US$1.00/bbl.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Differences
between estimates for net earnings and cash flow from operations are due primarily to the impacts of cash taxes in certain jurisdictions. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>30</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><A
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 </B></FONT><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>5. SEGMENT RESULTS AND ANALYSIS</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>OIL SANDS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Strategy and Operational Update</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Oil Sands business continues to focus on safe, reliable operations that achieve steady production growth while effectively controlling operating costs. We expect our operational excellence
initiatives will continuously improve our plant utilization and workforce productivity. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2012, Oil Sands Base expects to integrate new mining and upgrading projects that complement its core operations. Oil Sands Base is continuing the ramp up of bitumen production from the NSE, which
is expected to reduce mine congestion and lower average haul distances. In addition, Oil Sands Base expects to commission and start up the MNU, which is expected to improve the reliability and
availability of its upgrading facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
growth from the Firebag Stage&nbsp;3 expansion is on track. Firebag Stage&nbsp;4 leverages our existing infrastructure and is a smaller project to execute than Stage&nbsp;3, but is
anticipated to bring additional barrels of production equivalent to Stage&nbsp;3. We expect our portfolio of technology projects will drive improvements and efficiencies in current production and
develop future opportunities. This portfolio focuses on both subsurface and surface challenges, such as reducing steam-to-oil ratios and improving the efficiency of steam
production and water treatment. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
transactions with Total E&amp;P closed in March&nbsp;2011. In order to manage and develop all of the new joint ventures, Suncor created a new business
area&nbsp;&#150;&nbsp;Oil Sands Ventures. Throughout 2011, Oil Sands Ventures focused on ensuring the successful restart of the Fort Hills mining and Voyageur upgrader projects,
and bringing in operating expertise to complement existing proficiencies and commercial capabilities to effectively manage these new joint ventures. Suncor and the joint venture owners of the Fort
Hills, Voyageur upgrader and Joslyn projects have developed a capital program for site preparation and are working towards making decisions regarding the sanctioning of these projects in 2013. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TD WIDTH="61%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Gross revenues</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13&nbsp;001</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;690</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;744</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Less: Royalties</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(799</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(681</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(645</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12&nbsp;202</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;099</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;603</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;520</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>557</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Operating earnings&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;737</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;379</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;048</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Cash flow from operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;572</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;777</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;251</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings are reconciled to net earnings below. The company has restated operating earnings from 2010 for the transition to IFRS and
restated operating earnings for 2009 and 2010 for the removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of
this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Oil Sands net earnings for 2011 were $2.603&nbsp;billion, compared to $1.520&nbsp;billion in 2010. Net earnings for 2011 included an after-tax
loss of $99&nbsp;million on the sale of partial interests in the Voyageur upgrader project and the Fort Hills mining project, and an after-tax write-off of $35&nbsp;million
for third-party pipeline adjustments. Net earnings for 2010 included after-tax gains of $233&nbsp;million for the change in fair value of commodity derivatives used for risk management,
net of realizations, and $51&nbsp;million for a recovery of royalties pertaining to a change in Suncor's BVM, partially offset by after-tax write-offs of $143&nbsp;million
primarily associated with equipment for an alternative mining and extraction process that was discontinued. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
earnings for 2011 were $2.737&nbsp;billion, compared to $1.379&nbsp;billion in 2010, and increased primarily due to higher average price realizations and higher production volumes,
offset by higher operating expenses and&nbsp;DD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations for 2011 were $4.572&nbsp;billion, compared to $2.777&nbsp;billion in 2010, and increased primarily due to higher margins, which were driven by higher price realizations
and higher production volumes. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>31</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operating Earnings
Reconciliation</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Net earnings as reported</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;603</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;520</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>557</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Loss on significant disposals</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>99</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>143</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Change in fair value of commodity derivatives used for risk management, net&nbsp;of&nbsp;realizations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(233</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>499</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Modification of the bitumen valuation methodology</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(51</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Gain on effective settlement of pre-existing contract with Petro-Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(438</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Costs related to deferral of growth projects</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>299</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the merger</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;737</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;379</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;048</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. The company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings for 2009 and 2010 for the
removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>
<IMG SRC="g402484.jpg" ALT="GRAPHIC" WIDTH="675" HEIGHT="334">
  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Factors
represent after-tax variances and include the impacts of operating earnings adjustments. These factors are analyzed in the narrative immediately subsequent to this
bridge analysis. This bridge analysis is presented because management uses this presentation to analyze performance.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
price realizations before royalties and transportation costs, other operating revenues and the net impacts of sales and purchases of third-party crude.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
Inventory variance factor reflects the opportunity cost of building production volumes in inventory or the additional margin earned by drawing down inventory produced in previous
periods. The calculation of the Inventory variance factor in this bridge analysis permits the company to present the Volume variance factor based on production volumes, rather than based on
sales&nbsp;volumes.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor includes transportation expense, operating, selling and general expense, and project start-up&nbsp;costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor also includes changes in gains and losses on disposal of assets that are not operating earnings adjustments, changes in effective income tax rates, and other income tax
adjustments. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>32</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Production Volumes</B></FONT></P>

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<TD WIDTH="72%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Oil Sands </FONT><FONT SIZE=1>(mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>304.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>283.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>290.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Oil Sands Ventures </FONT><FONT SIZE=1>(mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>34.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Total </FONT><FONT SIZE=1>(mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>339.3</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>318.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>306.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>Production volumes from Oil Sands (excluding Syncrude) in 2011 averaged 304.7&nbsp;mbbls/d, compared to 283.0&nbsp;mbbls/d in 2010, and increased mainly due
to operational improvements at the company's mining and extraction operations, reflected by a 12% increase in bitumen ore tonnes mined. Production from the first half of 2010 was impacted by two
upgrader fires. In 2011, Suncor successfully completed the largest planned maintenance event in its history at its Upgrader 2&nbsp;facilities, lasting approximately six weeks; the impact of this
event on 2011 production was greater than the two relatively smaller planned maintenance events completed in&nbsp;2010. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Oil
Sands achieved a single-month production record of 345,000&nbsp;bbls/d in December, reflecting higher bitumen output from In Situ operations and an increase in bitumen ore tonnes mined,
partially offset by lower bitumen ore grade quality at the Millennium mine face. Suncor anticipates that lower bitumen ore grade quality will continue to impact operations until the start of the
fourth quarter of 2012, at which point the bitumen ore grade quality is expected to return to previous levels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
Situ bitumen production volumes averaged 89.5&nbsp;mbbls/d in 2011, compared to 85.1&nbsp;mbbls/d in 2010. Output from Firebag averaged 59.5&nbsp;mbbls/d in 2011, an 11% increase from
53.6&nbsp;mbbls/d in 2010. This increase was due mainly to new production starting in the second half of 2011 from the first well pad for the Stage&nbsp;3 expansion and from new infill wells
completed on existing well pads. MacKay River production averaged 30.0&nbsp;mbbls/d in 2011, down slightly from 2010 production of 31.5&nbsp;mbbls/d. Overall MacKay River production levels have
been at or around nameplate capacity (approximately 30,000&nbsp;bbls/d) since 2009. The company anticipates that new wells coming on-stream in the fourth quarter of 2011 and throughout
2012, combined with well workovers, will offset natural declines from existing well pairs. Bitumen production from Suncor's In Situ operations exited 2011 at approximately 111,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Oil Sands Ventures, Suncor's share of Syncrude production decreased to 34.6&nbsp;mbbls/d in 2011, compared to 35.2&nbsp;mbbls/d in 2010. Production in 2011 was negatively impacted by
operational issues with a hydrogen plant following the planned maintenance event in the&nbsp;fall. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Average Price Realizations and Sales
Volumes</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands </FONT><FONT SIZE=1>($/bbl)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>88.74</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>69.58</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>61.66</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>&#150;&nbsp;relative to WTI </FONT><FONT SIZE=1>(Cdn$/bbl)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(5.35</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(12.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(9.59</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Sales volumes </FONT><FONT SIZE=1>(mbbls/d)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>304.4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>279.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>276.2</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="68%" style="font-family:;"><FONT SIZE=1>Sales mix (sweet/sour) </FONT><FONT SIZE=1>(%)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>36/64</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37/63</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47/53</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands Ventures </FONT><FONT SIZE=1>($/bbl)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>101.80</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.93</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77.36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Average
price realizations are before royalties and net of related transportation costs, and include the impact of realized derivative gains and&nbsp;losses. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Oil Sands sales volumes (excluding Syncrude) increased in 2011, compared with 2010. The sweet/sour sales mix for 2011 (36%/64%) was slightly lower than 2010
(37%/63%). The Upgrader 1&nbsp;hydrogen plant experienced several outages over the second half of 2010 and into the first half of 2011. The company completed maintenance on these units and, as a
result, the sweet/sour sales mix for the fourth quarter of 2011 was 46%/54%. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Average
price realizations for Oil Sands sales were $88.74/bbl (WTI&nbsp;less $5.35/bbl) in 2011, compared to $69.58/bbl (WTI&nbsp;less $12.33/bbl) in 2010, and increased mainly due to higher
benchmark prices for crude oil. The average price realization for sales relative to WTI improved due mainly to higher differentials for SCO compared to WTI. Suncor's average price realization for
Syncrude sales in 2011 was $101.80/bbl, compared to $80.93/bbl in 2010, and was higher due to higher benchmark prices for crude oil and higher differentials between SCO and&nbsp;WTI. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Royalties</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties were slightly higher in 2011 than in 2010. Oil Sands royalties are influenced primarily by the valuation for bitumen, which was approximately 10% higher in 2011. In
Situ royalties were also higher because MacKay River reached the higher, post-payout phase as determined by regulation in November&nbsp;2010. These increases were partially offset by
increased capital expenditures for royalty-eligible capital expenditures (primarily the TRO<SUB>TM</SUB> project). Royalties in 2010 were impacted by the receipt of business interruption insurance
proceeds, which were subject to&nbsp;royalty, related to the upgrader fires in 2009 and 2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
2011, Suncor continued to remit royalty payments under its BVM for production from Oil Sands Base operations based on its view of reasonable quality adjustments; however, royalty expense was
calculated based on the quality adjustment enacted by the Alberta government in December&nbsp;2010. Suncor's Royalty Amending Agreement (the&nbsp;Suncor RAA) provides for an arbitration procedure
failing settlement of these issues. Suncor filed a Notice of Commencement of Arbitration with the Alberta government on January&nbsp;29,&nbsp;2011. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>33</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Inventory</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The Inventory variance factor was positive because inventories produced during the prior year at relatively lower production costs were sold and replaced by inventories produced
during the current year at relatively higher production costs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands Cash Operating
Costs</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TR VALIGN="TOP">
<TD WIDTH="70%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Oil Sands cash operating costs </FONT><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;479</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;990</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;599</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Oil sands cash operating costs </FONT><FONT SIZE=1>($/bbl)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>40.20</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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</FONT>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Oil
Sands cash operating costs is a non-GAAP financial measure, and is reconciled to operating, selling and general expense in the Non-GAAP Financial Measures
Advisories section of this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Oil Sands cash operating costs per barrel increased in 2011, averaging $40.20/bbl, compared to $38.65/bbl in 2010, with the impact of higher total Oil Sands cash
operating costs (+$4.40/bbl) partially offset by the impact of higher Oil Sands
production (-$2.85/bbl). Oil Sands cash operating costs per barrel increased more noticeably in the fourth quarter of 2011, mainly because of the ramp up of the Firebag Stage&nbsp;3 expansion and
higher mining costs necessary to maintain bitumen supply while working through the lower ore grade quality zone at the Millennium mine&nbsp;face and to remove more tonnes of overburden. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil
Sands cash operating costs increased to $4.479&nbsp;billion in 2011 from $3.990&nbsp;billion in 2010. Within this total, In Situ cash operating costs increased significantly compared to 2010,
due mainly to higher expenses for labour, maintenance, natural gas and support, most of which was associated with the Firebag Stage&nbsp;3 expansion. For Oil Sands Base operations, upgrading costs
were higher primarily as a result of maintenance related to the restart of the Upgrader 1&nbsp;hydrogen plant, and mining costs were higher, due mainly to a larger workforce and higher maintenance
and rentals to support increased bitumen&nbsp;output. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Expenses and Other Factors</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating expenses at Syncrude were higher in 2011 than 2010, due primarily to increased maintenance stemming from operational issues, and higher diesel fuel costs, which
reflected higher prices and higher overall consumption. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
addition, other operating expenses were lower in 2011 than 2010, primarily due to lower share-based compensation expense and lower costs related to the deferral of growth projects. These decreases
were partially offset by higher project start-up costs related to the Firebag Stage&nbsp;3 expansion and commissioning of the&nbsp;MNU. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
company continues to incur costs related to remobilizing certain growth projects out of "safe mode" after the economic downturn in late 2008 and early 2009. Pre-tax safe mode costs for
2011 were $76&nbsp;million, compared to $126&nbsp;million in 2010. Safe mode costs include the costs for maintaining equipment and facilities related to projects still in safe mode, the costs to
assess the condition of assets coming out of safe mode, and the costs of remobilizing equipment and&nbsp;personnel. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>DD&amp;A
expense for 2011 was higher than 2010, due mainly to a larger asset base that is the result of costs capitalized for recently commissioned In Situ assets and significant planned maintenance
events in 2010 and&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
income was lower in 2011 than in 2010, mainly due to insurance proceeds received from Suncor's captive insurance company in 2010 related to the 2009 and 2010 upgrader&nbsp;fires. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Planned Maintenance Events</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During the second quarter of 2011, the company successfully completed a six-week planned maintenance event safely and on schedule. The scope of this
event, associated with Oil Sands Base Upgrader 2&nbsp;facilities, was the largest in Suncor's history. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
the second quarter of 2012, the company expects to shut down one coker unit at Upgrader 1. In the third quarter of 2012, the company expects to complete maintenance on the vacuum tower and shut
down one coker unit at Upgrader 2. The company is also currently planning to complete maintenance on secondary upgrading units at both Upgrader 1 and Upgrader 2&nbsp;during&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Arrangements with Total E&amp;P</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During the first quarter of 2011, Suncor completed transactions with Total E&amp;P, which brought Total E&amp;P into the Voyageur upgrader project and increased Total
E&amp;P's working interest in the Fort Hills oil sands mining project, and which brought Suncor into the Joslyn oil sands mining project. In consideration for Total E&amp;P acquiring a 49% interest in the
Voyageur upgrader project, an additional 19.2% interest in the Fort Hills project, rights to certain knowledge and technology licences, and Total E&amp;P assuming its share of capital expenditures
subsequent to the transaction effective date of January&nbsp;1, 2011, Suncor received $2.662&nbsp;billion from Total E&amp;P, net of transaction costs. Suncor recorded an after-tax loss of
$99&nbsp;million on the partial disposition of its assets, which included a reduction of $267&nbsp;million to goodwill that the company </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>34</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>allocated
to its disposed interests. The after-tax loss was modified in the fourth quarter of 2011 following adjustments finalized during the closing period. In consideration for Suncor
acquiring a 36.75% interest in Joslyn and assuming its share of capital expenditures subsequent to the effective date, Suncor paid Total E&amp;P $842&nbsp;million. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Results for 2010 compared with 2009</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil Sands net earnings for 2010 were $1.520&nbsp;billion, compared to $557&nbsp;million in 2009. Net earnings in 2010 were positively impacted by gains
related to the change in fair value of certain risk management derivatives, but negatively impacted by the write-off of mining and extraction equipment. Net earnings in 2009 were
negatively impacted by losses related to the change in fair value of certain risk management derivatives, net of realizations, and by costs related to the deferral of growth projects triggered by the
general economic downturn in 2008, but positively impacted by a gain related to the merger on the effective settlement of a pre-existing contract with Petro-Canada to upgrade MacKay River
bitumen production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
earnings for 2010 were $1.379&nbsp;billion, compared to $1.048&nbsp;billion in 2009. The increase was due mainly to higher overall price realizations that reflected higher benchmark
prices and a full year of production from Suncor's share in Syncrude. This increase was partially offset by lower production from Oil Sands during the first half of 2010, due mainly to the impacts of
the two upgrader fires, lower sweet/sour sales mix that was negatively impacted by the upgrader fires and operational issues with secondary upgrading facilities at Upgrader 1, and higher operating
expenses mainly due to the upgrader&nbsp;fires. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations for 2010 was $2.777&nbsp;billion, compared to $1.251&nbsp;billion in 2009. The increase in cash flow from operations was mainly due to the same factors that affected
operating earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>EXPLORATION AND PRODUCTION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Strategy and Operational Update</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
Exploration and Production operations are comprised primarily of conventional upstream assets that have lower operating costs and require less reinvestment to maintain production than
unconventional oil sands assets. Over two-thirds of 2011 production from this segment received prices based on Brent crude, which traded at a significant premium to WTI for much of 2011.
As a result, the Exploration and Production segment generated significant cash flow in 2011 despite lower production volumes, and is an important source of funding for Suncor's long-term
growth strategy. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
growth from Exploration and Production is also an important element of Suncor's long-term strategy. The development of the Golden Eagle, Hibernia Southern Extension Unit (HSEU),
White Rose Extensions and Hebron all provide what the company believes are attractive opportunities to grow low-cost production and generate future cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, Exploration and Production faced many challenges. Operations were suspended for much of the year in Libya and were recently suspended in Syria. Production from Terra Nova was constrained by
H<SUB>2</SUB>S issues, and production from the non-operated Buzzard platform experienced periods of lower rates due to operational issues. Suncor
continues to see opportunity to further rightsize its asset base by divesting non-core properties in North America Onshore. However, poor market conditions for natural gas assets in
Western Canada in 2011 offered limited opportunities that met the company's financial objectives. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
2012, the effective execution of projects at our offshore assets, such as the dockside maintenance program for Terra Nova, is expected to set the company up for continued success. Exploration
activities in the North Sea are expected to be associated with the Beta discovery and the Romeo prospect. Elsewhere, we are directing attention to continued cost reductions and unconventional and
liquids-rich plays in our North America Onshore operations, and the restart of production from Libya provides the company with a cautiously optimistic outlook about a full return to
business in that&nbsp;country. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>35</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="61%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Gross revenues</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;784</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;043</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;858</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Less: Royalties</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1&nbsp;472</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;377</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(554</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;312</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;666</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;304</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;938</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Operating earnings&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;358</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;193</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>150</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Cash flow from operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;846</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;325</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;280</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings are reconciled to net earnings below. The company has restated operating earnings from 2010 for the transition to IFRS and
restated operating earnings for 2009 and 2010 for the removal of certain prior period operating earnings adjustments. See also the Non-GAAP Financial Measures Advisory section of
this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Exploration and Production net earnings for 2011 were $306&nbsp;million in 2011, compared to $1.938&nbsp;billion in 2010. Net earnings in 2011 were impacted
by after-tax impairment charges of $503&nbsp;million against assets in Libya ($514&nbsp;million initial impairment, net of $11&nbsp;million of subsequent impairment reversals) as a
result of the shut-in of production and $68&nbsp;million against certain North America Onshore properties due to decreasing natural gas prices. Net earnings in 2011 were also impacted by
a deferred income tax expense adjustment of $442&nbsp;million pertaining to an increase in the U.K.&nbsp;tax rate on oil and gas profits in the North Sea, an after-tax provision of
$31&nbsp;million pertaining to a royalty dispute covering a period from before the merger, and after-tax losses on disposal of non-core assets of $8&nbsp;million. Net
earnings in 2010 included after-tax gains on disposal of non-core assets of $826&nbsp;million, an after-tax gain of $166&nbsp;million for the redetermination of Suncor's
working interest in Terra Nova, after-tax impairment charges of $111&nbsp;million on certain North America Onshore assets mainly due to lower natural gas prices, an after-tax
provision for $84&nbsp;million related to losses on unfavourable natural gas pipeline commitments, and after-tax impairment charges of $52&nbsp;million on non-core
U.K.&nbsp;assets that were sold later in 2010 and the first quarter of&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
earnings for 2011 were $1.358&nbsp;billion, compared to $1.193&nbsp;billion in 2010. The increase in operating earnings was primarily due to higher average price realizations and lower
operating expenses and DD&amp;A, partially offset by lower production volumes, higher royalties and a higher effective tax rate on U.K.&nbsp;earnings. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations was $2.846&nbsp;billion in 2011, compared to $3.325&nbsp;billion in 2010. The decrease in cash flow from operations relative to the increase in operating earnings is due
primarily to lower production from assets in 2011 that contributed relatively more to cash flow from operations than operating earnings in 2010. In addition, cash flow
from operations in 2010 included the gain from the settlement pertaining to the redetermination of working interests in Terra&nbsp;Nova. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operating Earnings
Reconciliation</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Net earnings as reported</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;938</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>571</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>163</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>442</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the merger</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>84</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Loss (gain) on significant disposals</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(826</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Redetermination of working interest in Terra Nova</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(166</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;358</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;193</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>150</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. The company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings for 2009 and 2010 for the
removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>36</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=20,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=256678,FOLIO='36',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dk70001_1_37"> </A>

<P style="font-family:;"><FONT SIZE=2><B>
<IMG SRC="g538618.jpg" ALT="GRAPHIC" WIDTH="675" HEIGHT="316">
  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Factors
represent after-tax variances and include the impacts of operating earnings adjustments. These factors are analyzed in the narrative immediately subsequent to this
bridge analysis. This bridge analysis is presented because management uses this presentation to analyze performance.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
price realizations before royalties and transportation costs, other operating revenues and the net impacts of sales and purchases of third-party crude.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>The
Inventory variance factor reflects the opportunity cost of building production volumes in inventory or the additional margin earned by drawing down inventory produced in previous
periods. The calculation of the Inventory variance factor in this bridge analysis permits the company to present the Volume variance factor based on production volumes, rather than based on
sales&nbsp;volumes.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor includes transportation expense and operating, selling and general expense.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(5)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor also includes changes in gains and losses on disposal of assets that are not operating earnings adjustments, changes in effective income tax rates, and other income tax
adjustments. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Production
Volumes</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Production volumes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>East Coast Canada </FONT><FONT SIZE=1>(mbbls/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>65.6</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>International </FONT><FONT SIZE=1>(mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>76.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>132.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>North America Onshore </FONT><FONT SIZE=1>(mmcfe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>388</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>575</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>446</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total production </FONT><FONT SIZE=1>(mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>206.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>296.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>149.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Mix (liquids/gas) </FONT><FONT SIZE=1>(%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>East Coast Canada</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>100/0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100/0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100/0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>International</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>82/18</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87/13</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>84/16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" style="font-family:;"><FONT SIZE=1>North America Onshore</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8/92</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9/91</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11/89</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>64/36</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>63/37</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50/50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Production
volumes for 2009 represent Suncor's share of production from assets acquired in the merger with Petro-Canada from August&nbsp;1, 2009 to December&nbsp;31,&nbsp;2009. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>East Coast Canada production averaged 65.6&nbsp;mbbls/d in 2011, compared to 68.6&nbsp;mbbls/d in&nbsp;2010. </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from Terra Nova in 2011 was lower than 2010 by 7.0&nbsp;mbbls/d and was affected for the entire year by the partial
shut-in of certain wells due to the presence of H<SUB>2</SUB>S. Production from Terra Nova increased later in 2011, subsequent to the completion of a new production well and the
replacement of a subsea flow line that added back production from certain shut-in&nbsp;wells.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from White Rose in 2011 was higher than 2010 by 4.0&nbsp;mbbls/d and increased mainly due to higher production from the North
Amethyst portion of the White Rose Extensions, which began producing in&nbsp;2010.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from Hibernia in 2011 was consistent with production in 2010. In 2011, Hibernia achieved first oil from the HSEU. At this time, Suncor
does not anticipate significant incremental or sustained production from the HSEU until further development drilling and subsea infrastructure comes on-stream, which is planned
for&nbsp;2014. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>International
production averaged 76.4&nbsp;mboe/d in 2011 compared to 132.5&nbsp;mboe/d in&nbsp;2010. </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from the North Sea in 2011 decreased by 32.3&nbsp;mboe/d, compared with 2010, with 12.6&nbsp;mboe/d of the decrease occurring at
Buzzard. In 2011, production from Buzzard was impacted by production constraints due to fluctuating rates associated with the replacement of the gas compression cooling system, downtime and capacity
constraints on a third-party export pipeline, and other outages that coincided with the commissioning of the fourth platform. The remaining production decrease from the North Sea was due to the
disposal of non-core assets in the U.K. and </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>37</B></FONT></P>

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

<P style="font-family:;"><FONT SIZE=2>the
Netherlands throughout 2010 and into the first quarter of&nbsp;2011.



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</FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from Libya in 2011 averaged 12.1&nbsp;mbbls/d, compared to 35.2&nbsp;bbls/d in 2010. Production from Libya was shut in starting in
February due to the outbreak of political unrest. As a result of the unrest and subsequent sanctions introduced against the Libyan government, the company declared force majeure under its contractual
obligations. Subsequent to the government regime change and the lifting of sanctions, production was restarted later in the year in three of five&nbsp;fields.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production from Syria averaged 17.6&nbsp;mboe/d in 2011, up from 11.6&nbsp;mboe/d in 2010, primarily because first gas from the Ebla project
was achieved in April&nbsp;2010 and first oil in December&nbsp;2010. However, unrest in Syria led to international sanctions in December&nbsp;2011 that prohibited transactions with Suncor's
joint venture partner, and, as a result, the company declared force majeure under its contractual obligations and ceased recording further production.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Production for International in 2010 also included 6.7&nbsp;mboe/d from the company's Trinidad and Tobago assets, which were divested in the
third quarter of&nbsp;2010. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>North
America Onshore production for 2011 decreased to 388&nbsp;mmcfe/d from 575&nbsp;mmcfe/d in 2010. The decrease was due primarily to disposals of non-core assets throughout 2010
and 2011 that contributed incremental production of approximately 164&nbsp;mmcfe/d in 2010 and average production of 21&nbsp;mmcfe/d in 2011. Production from remaining properties decreased
approximately 10% compared with 2010, due primarily to natural declines in reservoir performance. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Average Price
Realizations</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="71%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>



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<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>East Coast Canada </FONT><FONT SIZE=1>($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>108.42</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.20</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.86</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>International </FONT><FONT SIZE=1>($/boe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>100.89</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.92</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>72.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="71%" style="font-family:;"><FONT SIZE=1>North America Onshore </FONT><FONT SIZE=1>($/mcfe)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4.39</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Average
price realizations are calculated before royalties and net of transportation costs. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Average price realizations in 2011 for sales of crude oil from East Coast Canada and International assets were significantly higher than 2010, due mainly to
higher Brent crude&nbsp;prices. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Average
price realizations for North America Onshore production were lower in 2011, mainly due to lower benchmark prices for natural gas at AECO. This decrease was partially offset by higher average
price realizations for sales of crude oil and natural gas liquids, due mainly to higher prices for&nbsp;WTI. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Royalties</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties were higher in 2011, compared with 2010, due to higher price realizations, partially offset by the shut-in of production in Libya and lower production
volumes from North America Onshore. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Expenses and Other Factors</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating expenses and DD&amp;A were lower in 2011 than in 2010, mainly due to the disposition of non-core assets throughout 2010 and 2011 and the suspension of
operations in Libya. Exploration expense also decreased, mainly due to exploration activities in Libya being suspended and exploration well write-offs in 2010 in the Netherlands and Norway
portions of the North&nbsp;Sea. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
factors that impacted operating earnings in 2011, compared with 2010, included the effects of the higher tax rate that the U.K.&nbsp;government enacted in the first quarter of&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Planned Maintenance Events</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>A dockside maintenance program is scheduled for the Terra Nova FPSO vessel for an estimated 21-week period during the second half of 2012. The
company anticipates a return to the field with resumption of production prior to the end of 2012. The planned work includes the replacement of the FPSO water injection swivel and the completion of the
replacement of subsea infrastructure to remediate H<SUB>2</SUB>S&nbsp;issues. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>An
extended, 18-week off-station maintenance program is scheduled to commence in the second quarter of 2012 for the White Rose FPSO, primarily to address issues with the FPSO
propulsion system. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>During
these outages, there will be no production from the respective assets. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Smaller
planned maintenance events are scheduled to occur at Hibernia and Buzzard in the third quarter of&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Asset Dispositions</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During 2011, the company disposed of certain non-core asset packages from its North America Onshore operations for net proceeds of
$164&nbsp;million, resulting in after-tax gains on disposition of $82&nbsp;million. These divested assets contributed average production of approximately 35&nbsp;mmcfe/d in 2010.
Current market conditions for further dispositions are limiting opportunities that meet the company's financial objectives. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>On
March&nbsp;31, 2011, the company completed its sale of non-core U.K.&nbsp;offshore assets (primarily Scott and Triton). Final net proceeds were &pound;90&nbsp;million
(Cdn$140&nbsp;million) and the related after-tax loss on disposition was $90&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>38</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>During
2010, the company divested other assets: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Throughout the year, the company completed the sale of a number of non-core North America Onshore properties for net proceeds of
approximately $1.7&nbsp;billion.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In the third quarter, the company completed the sale of its shares in Petro-Canada Netherlands&nbsp;BV for net proceeds of
&euro;316&nbsp;million (Cdn$420&nbsp;million).


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>In the third quarter, the company completed the sale of its assets in Trinidad and Tobago for net proceeds of US$378&nbsp;million
(Cdn$383&nbsp;million).



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>A portion of the sale of the non-core U.K.&nbsp;offshore assets was completed in the fourth quarter for net proceeds of
&pound;55&nbsp;million (Cdn$86&nbsp;million). </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Update on the Impacts of Events in Libya</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Following the regime change in Libya in the second half of 2011, Suncor's joint venture in Libya, Harouge Oil Operations&nbsp;BV (Harouge), successfully
restarted production in all significant fields and work continues to stabilize production levels. Suncor's share of production exiting December&nbsp;2011 was approximately 30,000&nbsp;bbls/d.
Suncor remains optimistic about a gradual return to full operations in Libya and is working to remove its EPSAs from force&nbsp;majeure. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
light of the uncertainty surrounding the situation in Libya at the end of the second quarter of 2011, management made an assessment that it may not be able to re-enter Libya for a
period of one to two years, if at all, and that any resumption of operations may involve additional remedial expenditure. The company, therefore, determined that its assets in Libya were impaired and
recorded charges of $259&nbsp;million (net&nbsp;of income taxes of $nil) against producing assets in property, plant and equipment, $211&nbsp;million (net&nbsp;of income taxes of $nil) against
exploration and evaluation assets and $44&nbsp;million (net&nbsp;of income taxes of $nil) against crude oil and materials inventories. Later in the year, the company was able to confirm the
existence and sale of crude inventories and reversed impairment charges of $11&nbsp;million (net&nbsp;of income taxes of&nbsp;$nil). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has re-engaged with the National Oil Company of Libya to discuss current operations and future plans; however, there is still sufficient unpredictability underlying operating in
this region, including the time frame for the ramp up of production, future exploration commitments, and the extent of damage to the company's assets, which has not yet been fully assessed. Therefore,
as at December&nbsp;31, 2011, there have been no further changes in the company's assessment of the impairment recognized in the second&nbsp;quarter. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
further information about the impairment process, see the Accounting Policies and Critical Accounting Estimates section of this&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Update on the Impacts of Events in Syria</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In December&nbsp;2011, amid continuing unrest in Syria, sanctions were introduced that required Suncor to declare force majeure under its contractual
obligations and suspend operations in the country. Suncor withdrew its expatriate staff and undertook measures to maintain support for its Syrian employees. Consequently, the company ceased recording
all production and revenue associated with its Syrian assets. If force majeure is lifted in the future, the company expects it will have the right to recover its share of any production occurring
during the force majeure&nbsp;period. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
has not received payment for recent production. Suncor believes it is entitled to these receivables and will work with its joint venture partner to receive payment if and when the sanctions are
removed. In accordance with GAAP, because of the uncertainty associated with collecting these amounts as a result of the political unrest and sanctions in
Syria, Suncor has recorded an after-tax provision of $63&nbsp;million against these receivables, which represents approximately half of the overall balance outstanding. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor
has estimated the net recoverable value of its assets in Syria based on an assessment of expected future net cash flows over a range of possible outcomes. The result of this assessment did not
require Suncor to record an impairment charge against its assets in Syria at December&nbsp;31, 2011. Should the current situation in Syria be resolved in a timely manner, such that sanctions are
lifted, PSCs and sales agreements resume unaltered, and payments for sale of hydrocarbons are received, we would expect that the value of Suncor's net assets in Syria would not be impaired. However,
should the current situation persist or worsen, such that Suncor is unable to resume operations in the near term, the company believes its assets in Syria could be impaired in the future. Suncor's
operations in Syria represented approximately 3% of the company's consolidated net earnings and cash flow from operations in 2011. The carrying value of Suncor's net assets in Syria at
December&nbsp;31, 2011 was approximately $900&nbsp;million. For further information about the impairment process, see the Accounting Policies and Critical Accounting Estimates section of
this&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
part of its normal course of operations, Suncor carries risk mitigation instruments in the aggregate amount of $405&nbsp;million (pre-tax) on certain foreign operations, of which up
to $300&nbsp;million may apply to our assets in&nbsp;Syria. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>39</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=23,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=461027,FOLIO='39',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dk70001_1_40"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Results for 2010 compared with 2009</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Exploration and Production net earnings in 2010 were $1.938&nbsp;billion, compared to $78&nbsp;million in 2009. Net earnings in 2010 included
after-tax gains of $826&nbsp;million on the disposal of non-core assets and an after-tax gain of $166&nbsp;million for the redetermination of the company's working interest
in Terra Nova, partially offset by after-tax impairments of $163&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating
earnings for 2010 were $1.193&nbsp;billion, compared to $150&nbsp;million in 2009, and cash flow from operations was $3.325&nbsp;billion in 2010, compared to $1.280&nbsp;billion in
2009. All East Coast Canada and International production, and approximately 70% of 2010 North America Onshore production was acquired in the merger with Petro-Canada. Price realizations were higher in
2010 primarily due to higher benchmark prices for Brent&nbsp;crude. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>REFINING AND MARKETING</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Strategy and Operational Update</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, the integrated network of Suncor's Refining and Marketing segment created significant value through its strategic assets, geographic leverage and product differentiation. The location and
reliability of the Edmonton, Sarnia and Commerce City refineries enabled the capture of attractive inland crude differentials related to record high discounts for WTI compared to Brent crude. The
integration of these refineries with crude output from Suncor's Oil Sands segment also resulted in lower feedstock costs. In addition, Suncor's strategy of positioning its marketing demands to exceed
its refining capacity has enabled the refineries to keep crude throughputs high and spread fixed refining costs over a broader production&nbsp;base. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
strategy of leveraging high-value internal channels in its Marketing business was also very successful in 2011, with strong sales volumes and margins, boosting segment earnings
beyond the refinery gate. Suncor's Petro-Canada branded outlets continue to be a leading retailer by market share in major urban areas of&nbsp;Canada. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>For
2012, Refining and Marketing will continue to focus on the safety and reliability of its operations, leverage the strong brand to increase non-petroleum revenues through the company's
network of convenience stores and car washes, and expand the lubricants product offering. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating revenues</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>25&nbsp;713</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>20&nbsp;860</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;851</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>819</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>407</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating earnings&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Refining and Product Supply</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;413</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>532</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>311</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>313</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>264</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>144</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>796</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>455</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow from operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;574</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;538</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>921</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings are reconciled to net earnings below. The company has restated operating earnings from 2010 for the transition to IFRS and
restated operating earnings for 2009 and 2010 for the removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of
this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Refining and Marketing had net and operating earnings of $1.726&nbsp;billion in 2011, compared with net earnings of $819&nbsp;million and operating earnings
of $796&nbsp;million in&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining
and Product Supply operations contributed $1.413&nbsp;billion to operating earnings in 2011, a significant increase compared with 2010, primarily due to higher refining margins and the
positive impacts of an increasing crude price environment, whereby inventories produced during periods of lower feedstock costs were sold and replaced with inventories purchased at relatively higher
feedstock costs. Marketing operations contributed $313&nbsp;million to operating earnings in 2011, which was higher than in 2010, due mainly to strong demand and margins in wholesale and lubricants
channels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations was $2.574&nbsp;billion in 2011, compared to $1.538&nbsp;billion in 2010, and increased primarily due to the same factors that affected operating earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>40</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=24,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=166504,FOLIO='40',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dk70001_1_41"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operating Earnings
Reconciliation</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Net earnings as reported</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>819</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>407</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the merger</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(23</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>67</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>796</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>455</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. The company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings for 2009 and 2010 for the
removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>
<IMG SRC="g713190.jpg" ALT="GRAPHIC" WIDTH="675" HEIGHT="306">
  </B></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Factors
represent after-tax variances and include the impacts of operating earnings adjustments. These factors are analyzed in the narrative immediately subsequent to this
bridge analysis. This bridge analysis is presented because management uses this presentation to analyze performance.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>This
factor also includes changes in gains and losses on disposal of assets that are not operating earnings adjustments, changes in effective income tax rates, and other income tax
adjustments. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Volumes</B></FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>



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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1> Refined product sales </FONT><FONT SIZE=1>(thousands of&nbsp;m<SUP>3</SUP>/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Gasoline</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>41.1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Distillate&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>30.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>83.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54.9</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1> Refinery utilization&nbsp;<SUP>(2)(3)</SUP> </FONT><FONT SIZE=1>(%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>94</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>87</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>91</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1> Crude oil processed&nbsp;<SUP>(4)</SUP> </FONT><FONT SIZE=1>(thousands of m<SUP>3</SUP>/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Eastern North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.0</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>30.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Western North America</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>32.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Previously
disclosed distillate sales volumes have been adjusted to remove certain volumes that originated from Oil&nbsp;Sands.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Refinery
utilization is the amount of crude oil and natural gas plant liquids run through crude distillation units, expressed as a percentage of the capacity of these&nbsp;units.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Utilization
rates are determined based on refinery capacities in effect prior to January&nbsp;1,&nbsp;2012.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
figures have been adjusted to reflect operations subsequent to the merger with Petro-Canada on August&nbsp;1, 2009, so that they align with refinery utilization rates. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Total sales of refined petroleum products averaged 83,100&nbsp;m<SUP>3</SUP>/d in 2011, compared to 87,300&nbsp;m<SUP>3</SUP>/d in 2010. Gasoline sales
for 2011 in Eastern Canada decreased compared with 2010, due mainly to lower demand from higher pump prices and the disposal of numerous retail sites in 2010 as mandated by the Canadian Competition
Bureau as a result of the merger. There was strong demand for distillate in 2011; however, sales volumes were impacted by a month-long disruption to third-party hydrogen supply at the
Edmonton refinery. Sales of lubricants products increased approximately 5% compared to 2010, led by growth in higher margin products. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refinery
utilization in Eastern North America averaged 94% in 2011, compared to 89% in 2010. Refinery utilization in 2010 at the Sarnia refinery was negatively impacted by Enbridge pipeline
disruptions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refinery
utilization in Western North America averaged 91% in 2011, compared to 95% in 2010. Refinery utilization in 2011 for Edmonton was impacted primarily by a month-long disruption to
third-party hydrogen supply </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>41</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=11,SEQ=25,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=867516,FOLIO='41',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dk70001_1_42"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>and
a six-week planned maintenance event during the second quarter. Refinery utilization in 2011 for the Commerce City refinery was impacted by a five-week planned maintenance
event during the second&nbsp;quarter. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Effective
January&nbsp;1, 2012, Suncor upwardly revised the nameplate capacities of the Commerce City and Montreal refineries, reflecting improvements in reliability and operations. The Commerce
City refinery capacity increased from 93,000&nbsp;bbls/d to 98,000&nbsp;bbls/d and the Montreal refinery capacity increased from 130,000&nbsp;bbls/d to 137,000&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Prices and Margins</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining margins in 2011 were significantly higher than in 2010, due mainly to higher crack spreads and discounted prices for WTI-based crudes that benefited our
inland refineries (Sarnia, Edmonton and Commerce City) for most of 2011. Refining margins were also higher in 2011 due to the increasing price environment for crude, whereby inventories produced
during periods of lower feedstock costs were sold and replaced with inventories produced during periods of relatively higher feedstock costs. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Marketing
margins for 2011 were strong in wholesale distillate channels, reflecting strong demand, and, for our lubricants operations, reflecting higher demand and increased sales of higher margin
products. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Expenses and Other Factors</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating expenses were slightly higher in 2011 than in 2010, due mainly to volume growth in wholesale channels, which resulted in higher costs for transportation and
commissions, partially offset by lower share-based compensation expense. The Financing Expense and Other Income factor was positively impacted by a gain pertaining to the company's investments in
marketing entities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Planned Maintenance Events</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining and Marketing has several smaller outages planned for 2012, but none as large as the three planned maintenance events that occurred in 2011 at the
Sarnia, Edmonton and Commerce City refineries. For 2012, the company's planned maintenance events reflect crude unit maintenance at the Sarnia and Commerce City refineries and minor secondary process
unit maintenance at all four refineries. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Results for 2010 compared with 2009</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining and Marketing net earnings in 2010 were $819&nbsp;million, compared to $407&nbsp;million in 2009. Net earnings in 2009 included the negative impact
associated with inventory acquired at fair value in the&nbsp;merger. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining
and Marketing operating earnings in 2010 were $796&nbsp;million, compared to $455&nbsp;million in 2009, and were higher primarily as a result of the merger, which more than doubled
refinery throughput capacity (from 178,000&nbsp;bbls/d to 443,000&nbsp;bbls/d) and increased refined product sales by approximately 60%, compared with 2009. Operating earnings were also higher due
to improved operational reliability, strong distillate cracking margins and wider light/heavy and light/sour synthetic crude differentials. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations in 2010 was $1.538&nbsp;billion, compared to $921&nbsp;million in 2009, and increased mainly due to the same factors impacting operating earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>42</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=12,SEQ=26,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=252068,FOLIO='42',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>CORPORATE, ENERGY TRADING AND ELIMINATIONS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Strategy and Operational Update</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Energy Trading business continues to evaluate additional pipeline and storage agreements to support planned increases in production capacity. Until the company completes its Oil Sands growth
projects, Suncor's Energy Trading business expects to optimize the capacities associated with existing arrangements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
continues to evaluate new opportunities to build its renewable energy portfolio, and has a number of potential wind power project sites in various stages of&nbsp;evaluation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial
Highlights</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net (loss) earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(331</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(448</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating (loss) earnings&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Renewable Energy</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>72</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Energy Trading</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>149</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Corporate</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(346</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(842</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(529</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Group Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(22</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(147</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(734</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(538</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow used in operations&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(246</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(653</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings are reconciled to net earnings below. The company has restated operating earnings from 2010 for the transition to IFRS and
restated operating earnings for 2009 and 2010 for the removal of certain prior period operating earnings adjustments. See also the Non-GAAP Financial Measures Advisory section of
this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The net loss for Corporate, Energy Trading and Eliminations in 2011 was $331&nbsp;million, compared to $448&nbsp;million in 2010. In 2011, the Canadian
dollar weakened in relation to the U.S.&nbsp;dollar, with the US$/Cdn$ exchange rate decreasing from 1.01 to 0.98 and resulting in an after-tax unrealized foreign exchange loss on
U.S.&nbsp;dollar denominated long-term debt of $161&nbsp;million. In 2010, the Canadian dollar strengthened in relation to the U.S.&nbsp;dollar, with the exchange rate increasing
from 0.96 to 1.01, resulting in an after-tax unrealized foreign exchange gain on U.S.&nbsp;dollar denominated long-term debt of $372&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
operating loss for Corporate, Energy Trading and Eliminations in 2011 was $147&nbsp;million, compared with an operating loss of $734&nbsp;million in 2010. Operating earnings are discussed
below. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Operating Earnings
Reconciliation</B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Net earnings (loss)</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(331</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(448</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>161</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(798</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Merger and integration costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>151</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the merger</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1><B>Operating loss</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(147</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(734</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(538</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. The company has restated operating earnings from 2010 for the transition to IFRS and restated operating earnings for 2009 and 2010 for the
removal of certain prior period operating earnings adjustments. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>43</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=13,SEQ=27,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=296646,FOLIO='43',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dk70001_1_44"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Renewable Energy</B></FONT></P>

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<TD WIDTH="72%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>



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<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Power generation marketed </FONT><FONT SIZE=1>(gigawatt hours)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>245</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>174</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>177</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="72%" style="font-family:;"><FONT SIZE=1>Ethanol production </FONT><FONT SIZE=1>(thousands of&nbsp;m<SUP>3</SUP>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>381.5</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>206.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>193.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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</FONT>
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<P style="font-family:;"><FONT SIZE=2>Suncor's Renewable Energy assets contributed operating earnings of $72&nbsp;million in 2011, compared to $33&nbsp;million in 2010, and increased primarily
due to higher ethanol production and higher margins for ethanol sales. At the end of January&nbsp;2011, Suncor completed the expansion of its ethanol plant in Ontario, which doubled production
capacity from 200&nbsp;million litres per year to 400&nbsp;million litres per&nbsp;year. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Total
power generation marketed in 2011 increased to 245&nbsp;gigawatt hours from 174&nbsp;gigawatt hours in 2010. In 2011, Suncor commissioned two new wind power
projects&nbsp;&#150;&nbsp;the 88-MW, 55-turbine Wintering Hills project in southern Alberta and the 20-MW, eight-turbine Kent Breeze project
in southwest Ontario. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Energy Trading</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Energy Trading activities contributed operating earnings of $149&nbsp;million in 2011, compared to $64&nbsp;million in 2010. Energy trading continued to increase operating
earnings, primarily through its heavy crude trading strategies that purchase heavy crude oil in Alberta and transport it to markets with more favourable prices. The price differential between these
two locations was considerably wider in 2011, consistent with the discount for WTI compared to&nbsp;Brent. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Corporate</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Corporate had an operating loss of $346&nbsp;million in 2011, compared with an operating loss of $842&nbsp;million in 2010. The 2010 operating loss included
after-tax claims of $243&nbsp;million for the two Oil Sands Base upgrader fires paid by the company's captive insurance program. The decrease in operating loss was also due to an
increase in capitalized interest (approximately $225&nbsp;million more capitalized after tax) that reduced the amount of borrowing costs that were expensed, and lower share-based compensation
expense, partially offset by higher DD&amp;A due to the start of depreciation on Suncor's post-merger systems integration initiative. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, the company capitalized 85% of its borrowing costs as part of the cost of major development assets and construction projects, compared to 43% in 2010. Subsequent to the completion of
transactions with Total E&amp;P, the company resumed capitalizing interest for the Voyageur upgrader project and commenced capitalizing interest for the Fort Hills and Joslyn projects. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Group Eliminations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Group Eliminations reflects the elimination of profit on crude oil sales from Oil Sands, Syncrude and East Coast Canada to Refining and Marketing. Consolidated profits are only
realized when the company determines that the refined products produced from intersegment purchases of crude feedstock have been sold to third parties. In 2011, $22&nbsp;million of
after-tax intersegment profit was&nbsp;eliminated. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Results for 2010 compared with 2009</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The net loss for Corporate, Energy Trading and Eliminations for 2010 was $448&nbsp;million, compared with net earnings of $104&nbsp;million in 2009. In 2009,
the Canadian dollar strengthened in relation to the U.S.&nbsp;dollar as the US$/Cdn$ exchange rate increased from 0.82 to 0.96, resulting in an after-tax unrealized foreign exchange gain
on U.S.&nbsp;dollar denominated long-term debt of $798&nbsp;million. However, results from 2009 were more significantly impacted by costs associated with the merger with Petro-Canada
and resulting integration costs. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
operating loss for Corporate, Energy Trading and Eliminations for 2010 was $734&nbsp;million, compared with an operating loss of $538&nbsp;million in 2009. The higher operating loss in 2010
reflected the claims paid by the company's captive insurance program. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>44</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=14,SEQ=28,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=279745,FOLIO='44',FILE='DISK135:[12ZAL1.12ZAL70001]DK70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dm70001_1_45"> </A> </FONT> <FONT SIZE=6><B>


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


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>6. FOURTH QUARTER 2011 ANALYSIS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial and Operational Highlights</U></B></FONT></P>

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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Three months ended December&nbsp;31<BR>
($&nbsp;millions, except as noted)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>790</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>284</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>386</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>307</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>367</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>46</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;286</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating earnings (loss)&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>835</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>345</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>372</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>307</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>366</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(87</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(178</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>808</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1> Cash flow from (used in) operations&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;417</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>796</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>780</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>948</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>534</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>610</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(81</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(222</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;650</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;132</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Production volumes (mboe/d)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>356.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>363.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>219.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>261.8</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>576.5</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>625.6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. Operating earnings and cash flow from operations are reconciled below. See the Non-GAAP Financial Measures Advisory section of
this&nbsp;MD&amp;A. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Segment Analysis</U></B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil Sands net earnings for the fourth quarter of 2011 were $790&nbsp;million, compared to $484&nbsp;million in the fourth quarter of 2010. Operating earnings for the fourth
quarter of 2011 were $835&nbsp;million, compared to $345&nbsp;million for the fourth quarter of 2010. Cash flow from operations from the fourth quarter of 2011 was $1.417&nbsp;billion, compared
to $796&nbsp;million in the fourth quarter of 2010. These increases were due primarily to higher margins driven by higher price realizations and improved production and sales of higher margin sweet
SCO and diesel, partially offset by higher In Situ operating expenses that were largely associated with the Firebag Stage&nbsp;3 expansion and higher mining costs required to move more tonnes of ore
to maintain bitumen supply while working through the area of lower bitumen ore&nbsp;grade and to remove more tonnes of overburden. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil
Sands production (excluding Syncrude) increased slightly to 326.5&nbsp;mbbls/d from 325.9&nbsp;mbbls/d, reflecting higher bitumen output from Firebag and an increase in bitumen ore tonnes
mined. In Situ bitumen production increased to 101.4&nbsp;mbbls/d from 85.8&nbsp;mbbls/d, due mainly to the ramp up of production from the first well pad for the Firebag Stage&nbsp;3 expansion
and recently completed infill wells on existing Firebag well pads. For Oil Sands Ventures, Suncor's share of Syncrude production decreased to 30.3&nbsp;mbbls/d from 37.9&nbsp;mbbls/d due primarily
to operational issues with a hydrogen plant and a coker&nbsp;unit. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exploration and Production</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Exploration and Production net earnings for the fourth quarter of 2011 were $284&nbsp;million, compared to $386&nbsp;million in the fourth quarter of 2010. Net earnings in
the fourth quarter of 2011 included net after-tax impairment charges of $57&nbsp;million taken primarily against certain North America Onshore properties due to decreasing prices for
natural gas. Net earnings in the fourth quarter of 2010 were positively impacted by after-tax adjustments of $186&nbsp;million for the redetermination of Suncor's working interest in
Terra Nova, but negatively impacted by after-tax impairments and write-offs of $96&nbsp;million also taken primarily against certain North America Onshore properties due to
decreasing prices for natural&nbsp;gas. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Exploration
and Production operating earnings for the fourth quarter of 2011 were $372&nbsp;million, compared to $275&nbsp;million in the fourth quarter of 2010, and increased primarily due to
higher average price realizations, partially offset by the impact of lower production volumes, the provision against accounts receivable related to Syria, and higher royalties that reflected a higher
percentage of unsold production from&nbsp;Libya. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production
volumes were 219.7&nbsp;mboe/d in the fourth quarter of 2011, compared to 261.8&nbsp;mboe/d in the fourth quarter of 2010. The decrease in production volumes was due mainly to the
disposal of non-core assets and lower output from Libya during the restart of production following the lifting of&nbsp;sanctions. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash
flow from operations was $780&nbsp;million in the fourth quarter of 2011, which was lower than $948&nbsp;million for the fourth quarter of 2010, due mainly to 2010 including the gain for the
redetermination of Suncor's working interest in Terra&nbsp;Nova. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>45</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=29,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=266184,FOLIO='45',FILE='DISK135:[12ZAL1.12ZAL70001]DM70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dm70001_1_46"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Refining and Marketing</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining and Marketing net and operating earnings for the fourth quarter of 2011 were $307&nbsp;million, compared with net earnings of $367&nbsp;million and operating
earnings of $366&nbsp;million in the fourth quarter of 2010. Cash flow from operations was $534&nbsp;million in the fourth quarter of 2011, compared to $610&nbsp;million in the fourth quarter
of&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Sales
volumes decreased to 81,600&nbsp;m<SUP>3</SUP>/d from 89,200&nbsp;m<SUP>3</SUP>/d. This decrease was primarily due to lower crude throughput at the Edmonton refinery due to a
month-long disruption in third-party hydrogen supply. Sales volumes were also lower due to lower demand for heating oil through the wholesale channel in Eastern Canada, due mainly to
warmer&nbsp;weather. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Corporate, Energy Trading and Eliminations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Net earnings for this group in the fourth quarter of 2011 were $46&nbsp;million, compared with net earnings of $49&nbsp;million in the fourth quarter of 2010. In the fourth
quarter of 2011, the Canadian dollar strengthened in relation to the U.S.&nbsp;dollar, with the US$/Cdn$ exchange rate increasing from 0.95 to 0.98 and resulting in an after-tax
unrealized foreign exchange gain on U.S.&nbsp;dollar denominated long-term debt of $156&nbsp;million. In the fourth quarter of 2010, the Canadian dollar strengthened in relation to the
U.S.&nbsp;dollar as the exchange rate increased from 0.97 to 1.01, resulting in an after-tax unrealized foreign exchange gain on U.S.&nbsp;dollar denominated long-term debt
of $252&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
operating loss for this group in the fourth quarter of 2011 was $87&nbsp;million, compared with an operating loss of $178&nbsp;million in the fourth quarter of 2010. The decrease in operating
loss was due mainly to an increase in capitalized interest related to more major projects being under construction. This decrease was partially offset by higher Renewable Energy earnings that
reflected higher ethanol production from the plant expansion, higher Energy Trading earnings that reflected price differences between Alberta and U.S.&nbsp;Gulf Coast markets for heavy crude oil,
and lower share-based compensation expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating
Earnings</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="27%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Three months ended December&nbsp;31</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Corporate<BR>
Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><FONT SIZE=1>


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<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Net earnings as reported</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>790</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>284</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>386</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>307</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>367</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>46</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;286</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange gain on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(156</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(252</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(156</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(252</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>57</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>23</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>115</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Loss (gain) on significant disposals</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the merger</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Change in fair value of commodity derivatives used for risk management, net of realizations</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(48</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(48</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Redetermination of working interest in Terra Nova</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(186</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(186</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Modification of the bitumen valuation methodology</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Merger and integration costs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=23 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1><B>Operating earnings (loss)</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>835</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>345</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>372</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>275</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>307</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>366</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(87</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(178</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>808</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=23 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>

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<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>46</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=30,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=380048,FOLIO='46',FILE='DISK135:[12ZAL1.12ZAL70001]DM70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_dm70001_1_47"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Cash flow from
Operations</U></B></FONT><FONT COLOR="#0035CA" SIZE=2>&nbsp;<SUP>(1)</SUP></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Three months ended December&nbsp;31</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Corporate<BR>
Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=24 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>790</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>484</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>284</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>386</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>307</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>367</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>46</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>49</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;286</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Adjustments for:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and impairment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>392</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>308</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>474</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>530</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>118</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>114</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>39</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;023</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>978</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>270</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>140</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(30</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>92</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>134</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(10</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(64</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>322</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>221</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Accretion of liabilities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>18</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>52</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>94</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange gain on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(179</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(290</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(179</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(290</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Change in fair value of derivative contracts</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(66</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>17</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>34</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>51</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(32</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(26</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Share-based compensation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>21</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>79</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Exploration expense</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="25%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(100</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(136</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(15</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(32</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(54</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(110</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(245</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=24 style="font-family:;"><FONT SIZE=1>



<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cash flow from (used in) operations</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;417</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>796</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>780</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>948</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>534</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>610</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(81</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(222</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;650</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;132</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(Increase) decrease in non-cash working capital</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(47</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(186</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(74</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>587</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(396</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(120</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>153</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(388</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=24 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow provided by (used in) operating activities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;370</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>610</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>789</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>874</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;121</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>602</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(477</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(342</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;803</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;744</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=24 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=1><B>47</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=31,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=183003,FOLIO='47',FILE='DISK135:[12ZAL1.12ZAL70001]DM70001A.;19',USER='JDAY',CD='29-FEB-2012;16:44' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P style="font-family:;"><FONT SIZE=2><A
NAME="page_do70001_1_48"> </A> </FONT> <FONT SIZE=6><B>


<!-- COMMAND=ADD_DEFAULTFONT,"font-family:;" -->


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


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B>7. QUARTERLY FINANCIAL DATA</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial and Operating Highlights</U></B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Three months ended<BR>
($&nbsp;millions, unless otherwise noted)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sept&nbsp;30<BR>
2011</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>June&nbsp;30<BR>
2011</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Mar&nbsp;31<BR>
2011</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sept&nbsp;30<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>June&nbsp;30<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Mar&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Total production</B></FONT><FONT SIZE=1> (mboe/d)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>576.5</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>546.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>460.0</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>601.3</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>625.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>635.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>633.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>564.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>356.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>362.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>277.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>360.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>363.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>338.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>334.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>234.6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>219.7</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>183.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>182.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>240.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>261.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>297.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>299.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>330.0</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Revenues and other income</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating revenues, net of royalties</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;077</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;494</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;510</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;256</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;982</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;717</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;174</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;130</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Other income&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>60</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>184</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>77</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>132</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>358</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(45</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>287</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;137</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;678</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;587</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;388</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;340</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;672</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;461</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;131</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Net earnings</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;287</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>562</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;028</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;286</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;224</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>540</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>779</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>per common share</B></FONT><FONT SIZE=1> (dollars)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Basic</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.91</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.82</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.36</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.82</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.78</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Diluted</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.91</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.31</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.82</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.78</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.34</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.46</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;427</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;789</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>980</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;478</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>808</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>617</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>839</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>370</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>per common share&nbsp;&#150;&nbsp;basic</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP> (dollars)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.91</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.62</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.94</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.52</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.54</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.24</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Cash flow from operations</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;650</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;721</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;982</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;393</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;132</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;630</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;770</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;124</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>per common share&nbsp;&#150;&nbsp;basic</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)</SUP> (dollars)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1.69</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.73</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.26</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.52</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.36</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.13</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.72</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>ROCE</B></FONT><FONT SIZE=1>&nbsp;<SUP>(2)(3)</SUP> (%) for the twelve months ended</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.5</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.3</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.9</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Common share information</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Dividend per common share (dollars)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.11</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.11</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Share price at the end of trading</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Toronto Stock Exchange (Cdn$)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>29.38</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26.76</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>37.80</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43.48</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.28</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31.33</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.03</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>New&nbsp;York Stock Exchange (US$)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28.83</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>25.44</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44.84</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.29</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.44</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32.54</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>In
2011, the company completed a review of its energy supply and trading activities and determined that the nature and purpose of transactions previously presented on a gross basis in
Energy Supply and Trading Income and Expenses in the Consolidated Statements of Comprehensive Income have evolved such that they are more appropriately reflected through net presentation. See the
Accounting Policies and Critical Accounting Estimates section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measures. See the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Excludes
capitalized costs related to major projects in progress. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Business Environment</U></B></FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Three months ended<BR>
(average for the period ended, except as noted)</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>Dec&nbsp;31<BR>
2011</B></FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sept&nbsp;30<BR>
2011</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>June&nbsp;30<BR>
2011</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Mar&nbsp;31<BR>
2011</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Dec&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Sept&nbsp;30<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>June&nbsp;30<BR>
2010</FONT></TD>
<TD WIDTH="2%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Mar&nbsp;31<BR>
2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


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<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>WTI crude oil at Cushing</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>94.05</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>89.75</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102.55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>94.10</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.05</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Dated Brent crude oil at Sullom Voe</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>109.00</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113.40</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>117.30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>86.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78.30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>76.25</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Dated Brent/Maya FOB price differential</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5.55</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.80</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.05</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.45</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6.50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Canadian 0.3% par crude oil at Edmonton</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>Cdn$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>98.20</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>92.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>88.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.90</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>80.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Light/heavy crude oil differential for WTI at Cushing less WCS at Hardisty</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.45</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14.00</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.05</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Condensate at Edmonton</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>108.70</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>101.65</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>112.40</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>98.35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>85.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>74.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>82.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>84.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Natural gas (Alberta spot) at AECO</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>Cdn$/mcf</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3.40</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.75</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.80</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3.85</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.35</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>New&nbsp;York Harbor 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22.80</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.45</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.25</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>19.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.95</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Chicago 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>19.20</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.70</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.45</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10.15</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.05</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Portland 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>26.45</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.40</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.55</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Gulf Coast 3-2-1&nbsp;crack&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/bbl</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>20.40</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.10</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27.30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18.50</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.60</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.20</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7.70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Exchange rate</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/Cdn$</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.98</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.02</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.03</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.01</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.99</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.96</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.96</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="23%" style="font-family:;"><FONT SIZE=1>Exchange rate (end&nbsp;of period)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>US$/Cdn$</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.98</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.95</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.04</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.03</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.01</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.94</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>0.98</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=20 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>3-2-1&nbsp;crack
spreads are indicators of the refining margin generated by converting three barrels of WTI into two barrels of gasoline and one barrel of
diesel. The crack spreads presented here generally approximate the regions into which the company sells refined products through retail and wholesale channels. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>48</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=32,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=996470,FOLIO='48',FILE='DISK135:[12ZAL1.12ZAL70001]DO70001A.;14',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_do70001_1_49"> </A>

<P style="font-family:;"><FONT SIZE=2>Trends in Suncor's quarterly earnings results and cash flow from operations are driven primarily by production volumes, which can be significantly impacted by
major planned maintenance events, such as the one that occurred for Oil Sands Base operations at Upgrader 2&nbsp;in the second quarter of 2011, and by changes in commodity prices, refining crack
spreads
and foreign exchange rates, which are summarized above and discussed in the Consolidated Financial Information&nbsp;&#150;&nbsp;Business Environment section of this&nbsp;MD&amp;A. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Over
the last eight quarters, Suncor's results were impacted by several important events: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Results in the first quarter of 2010 were significantly impacted by two upgrader fires that decreased Oil Sands production.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>As part of its strategic business alignment subsequent to the merger with Petro-Canada, Suncor divested a number of non-core assets in
its Exploration and Production segment throughout 2010 and 2011. Decreases in production volumes in 2011 are due in part to the disposition of these assets. In addition, the resulting gains and losses
on disposition of these assets had one-time impacts on net earnings in the quarters in which they&nbsp;occurred. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Net
earnings over the last eight quarters were also affected by other one-time adjustments, including: </FONT></P>


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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The fourth quarter of 2011 included net after-tax impairments and write-offs of $115&nbsp;million, taken primarily
against North America Onshore assets due to decreasing natural gas prices and against crude inventories due to third-party pipeline adjustments.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The second quarter of 2011 included impairment charges of $514&nbsp;million (net&nbsp;of income taxes of $nil, $11&nbsp;million was later
reversed in 2011) against assets in Libya that were associated with the shut-in of production due to political unrest, which also decreased production volumes for&nbsp;2011.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The first quarter of 2011 included a $442&nbsp;million adjustment to deferred income tax expense related to an increase in U.K.&nbsp;tax rates
on oil and gas profits in the North&nbsp;Sea.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The fourth quarter of 2010 included an after-tax gain of $186&nbsp;million for the redetermination of working interests in the Terra
Nova oilfield and an after-tax royalty recovery of $93&nbsp;million with respect to the modification of the&nbsp;BVM.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The second quarter of 2010 included an after-tax write-off of $141&nbsp;million for Oil Sands Base assets that were
being used in the development of an alternative extraction process that was discontinued. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>49</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=33,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=45858,FOLIO='49',FILE='DISK135:[12ZAL1.12ZAL70001]DO70001A.;14',USER='JDAY',CD='29-FEB-2012;16:44' -->
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_dq70001_1_50"> </A> </FONT> <FONT SIZE=6><B>


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


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>8. CAPITAL INVESTMENT UPDATE</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>The Capital Investment Update section contains forward-looking information. See the
Advisory&nbsp;&#150;&nbsp;Forward-Looking Information section of this MD&amp;A for the material risks and assumptions underlying this forward-looking
information.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Capital and Exploration Expenditures</U></B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="61%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>



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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;100</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;709</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;831</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>874</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;274</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>986</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>633</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>667</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>380</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>243</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>360</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Total capital and exploration expenditures</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;850</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;267</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="61%" style="font-family:;"><FONT SIZE=1>Capitalized interest (included in above figures)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>559</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>301</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>136</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=8 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>Capital and exploration expenditures do not include the purchase of the company's interest in the Joslyn project, which is shown as an acquisition in the audited
Consolidated Statements of Cash&nbsp;Flows. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil Sands capital and exploration expenditures were $5.100&nbsp;billion in 2011. Growth spending in 2011 focused primarily on the following significant projects: </FONT></P>


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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Capital expenditures for Firebag Stage&nbsp;3 were $570&nbsp;million in 2011, bringing total project expenditures to $4.370&nbsp;billion. In
2011, the company completed construction of all well pads and the central processing facilities. The first well pad began bitumen production in July. The second and third well pads are being steamed,
with initial bitumen production expected in the first half of 2012. Peak production from Firebag Stage&nbsp;3 is anticipated in the next 18 to 24&nbsp;months.



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Capital expenditures for Firebag Stage&nbsp;4 were $670&nbsp;million in 2011, bringing total project expenditures to $1.2&nbsp;billion.
Construction continued on infrastructure, central processing facilities, cogeneration units and the two well pads. Some infrastructure required for Stage&nbsp;4 was completed as part of
Stage&nbsp;3.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The company completed construction of the hydrogen plant portion of the MNU, which produced hydrogen in December&nbsp;2011 and
January&nbsp;2012 before being taken off-line for minor modifications prior to further commissioning. The company expects to have the hydrogen plant operating at design rates by the middle
of&nbsp;2012.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The company started mining ore from the NSE late in 2011, and operations are expected to ramp up over the next twelve months. The NSE project
develops a new mining resource, and is expected to improve productivity of overall mining operations and decrease operating costs by alleviating congestion in the Millennium mining area and reducing
average haul distances. The company has applied for regulatory approval to increase the NSE project area. If approved, the expanded area is expected to provide additional recoverable bitumen. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>In
2011, the company spent $622&nbsp;million on the implementation its TRO<SUB>TM</SUB> infrastructure project and an additional $110&nbsp;million on tailings drying facilities. The
infrastructure project included the construction of pumping and pipeline facilities for tailings and water transfers across Oil Sands Base mining operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
significant capital expenditures for 2011 focused on the planned maintenance event at Upgrader 2, the acquisition of additional land adjacent to one of our oil sands mining properties,
preparation of the NSE, major refurbishments and welding of coker units, the mine train replacement project for Syncrude and the restart of our Fort Hills and Voyageur upgrader projects. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exploration and Production</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Exploration and Production capital and exploration expenditures were $874&nbsp;million in&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
East Coast Canada operations, capital expenditures focused on the replacement of a flow line for partial H<SUB>2</SUB>S remediation and the drilling and completion of a new production well at
Terra Nova, the continued development of the HSEU, the completion (including initial production) of the first of two pilot wells in the West White Rose field that is part of the White Rose Extensions,
an exploratory well for the Ballicatters discovery, and front-end engineering and project development activities for&nbsp;Hebron. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>For
International operations in the North Sea, capital expenditures focused on the commissioning of the fourth platform at Buzzard, installed to remove H<SUB>2</SUB>S in the oil production from some
segments of the field, pre-sanction activity and preliminary design for Golden Eagle, which received regulatory and partner approval during the year, exploratory drilling at the Butch
prospect offshore Norway where a discovery was made, and the acquisition of new exploration licences offshore Norway (four operated and </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>50</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style="font-family:;"><FONT SIZE=2>one
non-operated) and the U.K.&nbsp;(one&nbsp;operated and one non-operated). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
International operations in Libya and Syria, capital expenditures were limited in 2011. Operations were suspended in Libya throughout much of 2011. The company completed one oil production well in
Syria before suspending the drilling program mid-year because of unrest, and prior to the introduction of sanctions, which resulted in Suncor suspending all operations in Syria in
December&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
North America Onshore operations, capital expenditures focused on the development of production wells in the Wilson Creek and Ferrier areas of the Cardium oil formation, and exploration in the
Kobes area of the Montney shale gas&nbsp;formation. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Refining and Marketing</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refining and Marketing spent $633&nbsp;million on capital expenditures in 2011. Expenditures focused on a variety of projects, including one to reduce benzene content in
gasoline production at the Commerce City refinery, which is expected to be completed by the second quarter of&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Corporate, Energy Trading and Eliminations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In 2011, the Renewable Energy business completed the construction and commissioning of the Wintering Hills and Kent Breeze wind projects, and the expansion of the
ethanol&nbsp;plant. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Corporate
capital expenditures focused on Suncor's initiative to integrate pre-merger information systems onto one common platform. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Significant Growth Projects Update</U></B></FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Description</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cost Estimate<BR>
($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Project<BR>
Spend to Date<BR>
($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Target<BR>
Completion</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Estimated<BR>
% Complete<BR>
Engineering</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Estimated<BR>
% Complete<BR>
Construction</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TD COLSPAN=15 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><U>Operated</U></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="20%" style="font-family:;"><FONT SIZE=1>Firebag Stage&nbsp;3 expansion</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>62.5&nbsp;mbbls/d bitumen</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;400</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;370</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Q1 2012</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>100</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="20%" style="font-family:;"><BR><FONT SIZE=1> Firebag Stage&nbsp;4 expansion</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1><BR>
62.5&nbsp;mbbls/d bitumen</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
2&nbsp;000</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
1&nbsp;189</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
Q1 2013</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
99</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><BR>
60</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(&plusmn;10%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><U>Non-operated</U>&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="20%" style="font-family:;"><FONT SIZE=1>Golden Eagle</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>70&nbsp;mboe/d (gross)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>880</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>64</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Q4 2014</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="19%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(&plusmn;10%</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=15 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Cost
estimate as per the operator of Golden Eagle, Nexen Petroleum U.K.&nbsp;Limited. Estimated completion percentages not provided for non-operated projects. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The table above provides a review and update at December&nbsp;31, 2011 of major growth projects that have been sanctioned for development by the company. Other
growth projects, such as the Fort Hills and Joslyn oil sands mining projects and the Voyageur upgrader, have not yet received a final investment decision by the company's Board of Directors. These
projects are discussed under the Other Capital Projects section&nbsp;below. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Firebag Stage&nbsp;3 expansion is nearly complete. The company expects to commission the cogeneration units in the first quarter of 2012. The ramp up of production from the Stage&nbsp;3
expansion is continuing, and the company expects to reach peak production levels during the second half of 2013. Stage&nbsp;3 facilities have a planned bitumen capacity of 62,500&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
primary focus for growth capital in 2012 will be the Firebag Stage&nbsp;4 expansion. In 2012, the company anticipates that construction will continue on the two well pads, central processing
facilities and cogeneration units, and plans to initiate steaming of the first well pad in the fourth quarter of 2012, so that first oil can be achieved late in the first quarter of 2013.
Stage&nbsp;4 facilities also have a planned bitumen capacity of 62,500&nbsp;bbls/d. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
field development plan for the Golden Eagle Area Development in the U.K.&nbsp;portion of the North Sea includes stand-alone facilities designed for 70,000&nbsp;boe/d of gross production.
Activity in 2012 for the development of Golden Eagle is anticipated to focus on the construction and fabrication of the topsides and jacket for the fixed gravity base structure (GBS). </FONT></P>


<P style="font-family:;"><FONT SIZE=2>There
are risks associated with project cost estimates provided by Suncor. Accordingly, actual costs can vary from estimates, and these differences can be material. Some of these risks are described
in the Risk Factors section of this MD&amp;A under the heading Project Execution and Partner Risk. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>51</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Other Capital Projects</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor also anticipates 2012 capital expenditures focused on the following projects and initiatives: </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands Base</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor will continue implementing its TRO<SUB>TM</SUB> tailings reclamation technology across Oil Sands Base operations. The infrastructure project is on schedule to be
completed by the fourth quarter of&nbsp;2012. The company also plans to construct more tailings drying facilities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
capital spending for Oil Sands Base is expected to focus on sustaining capital investments, which maintain production capacities at existing facilities, and include costs for planned maintenance
events, catalyst, truck and shovel replacement, and the replacements for utilities, roads and other facilities. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>In Situ</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Capital spending is expected to focus on continuing to build well pads at Firebag and MacKay River and continuing the infill well program at Firebag. This activity, separate
from the Firebag Stage&nbsp;3 and Stage&nbsp;4 expansions, maintains an inventory of future bitumen supply for central processing facilities as older wells experience natural production declines. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil Sands Ventures</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>In 2013, the company plans to present for sanctioning the budget for the combined development of the Voyageur upgrader, Fort Hills and Joslyn projects to Suncor's Board of
Directors. For 2012, Suncor anticipates capital expenditures&nbsp;for: </FONT></P>

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<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The Voyageur upgrader project will focus primarily on validating project scope, developing the project execution plan, engineering and progressing
site preparation.


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Fort Hills will focus primarily on progressing design basis memorandum engineering and site preparation, and procuring long-lead
items.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Joslyn will focus on further design work, progressing front-end engineering and site preparation. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Capital
expenditures in 2012 for Syncrude are expected to focus on the mine train replacement for the Mildred Lake mine, the mine train relocation at the Aurora mine and sustaining maintenance
initiatives. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Exploration and Production</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company anticipates that the second pilot well for water injection support in the West White Rose field of the White Rose Extensions will be completed in the second quarter
of 2012. Results from the pilot project, along with other ongoing evaluations, will help define the scope of future development for the West White Rose&nbsp;field. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
Hebron project development plan application was submitted to the Canada Newfoundland and Labrador Offshore Petroleum Board on April&nbsp;15, 2011. In 2012, the company expects
front-end engineering to be finalized, detailed design to commence and major construction contracts to be awarded. The company expects a regulatory approval decision in 2012, followed by a
sanction decision by joint venture owners. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Other
capital expenditures for East Coast Canada operations are expected to focus on development drilling for Terra Nova, Hibernia and White Rose, the water injection swivel replacement for the FPSO
and H<SUB>2</SUB>S remediation activity at Terra Nova, the propulsion system maintenance for the White Rose FPSO, and the procurement of subsea equipment for the development of the&nbsp;HSEU. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company has secured a rig to drill its third appraisal well for the Beta discovery in the Norway portion of the North Sea under the PL375&nbsp;licence. Drilling is expected to commence in the
first quarter of 2012. Suncor has secured a rig to drill an exploration well for the Romeo joint venture prospect in the U.K. portion of the North Sea and also expects to participate in a
non-operated exploration well in the Norway portion of the North&nbsp;Sea. The company expects the drilling of both of these wells will commence in&nbsp;2012. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
North America Onshore operations, the company plans to continue exploration in the Cardium oil formation and Montney shale gas&nbsp;formation. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>52</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=36,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=863796,FOLIO='52',FILE='DISK135:[12ZAL1.12ZAL70001]DQ70001A.;17',USER='JDAY',CD='29-FEB-2012;16:44' -->
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 </B></FONT><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>9. FINANCIAL CONDITION AND LIQUIDITY</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Indicators</U></B></FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>At December&nbsp;31 ($&nbsp;millions, except as noted)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Working capital&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>786</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;148</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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</TR>
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<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Short-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>763</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;984</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Current portion of long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>518</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Long-term debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;004</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;829</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10&nbsp;779</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;331</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Less: Cash and cash equivalents</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;803</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;077</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;976</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;254</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38&nbsp;600</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total debt plus shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>49&nbsp;379</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47&nbsp;523</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Total debt to total debt plus shareholders' equity (%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>22</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Current
assets less current liabilities, excluding cash and cash equivalents, short-term debt, current portion of long-term debt, and current assets and
liabilities associated with assets held for&nbsp;sale. </FONT></DD></DL>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Twelve months ended December&nbsp;31</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Return on Capital Employed (%)&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Excluding major projects in progress</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.8</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Including major projects in progress</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.1</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt to cash flow from operations&nbsp;<SUP>(2)</SUP> (times)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>0.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Interest coverage on long-term debt (times)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Earnings basis&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.7</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.8</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Cash flow from operations basis&nbsp;<SUP>(2)(4)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>16.4</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.7</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Non-GAAP
financial measure. The calculations for ROCE are detailed in the Non-GAAP Financial Measures Advisory section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Cash
flow from operations and metrics that use cash flow from operations are non-GAAP financial measures. See the Non-GAAP Financial Measures Advisory section
of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Net
earnings plus income taxes and interest expense, divided by the sum of interest expense and capitalized interest.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(4)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Cash
flow from operations plus current income taxes and interest expense, divided by the sum of interest expense and capitalized interest. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Capital Resources</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's capital resources consist primarily of cash flow from operations, cash and cash equivalents, and available lines of credit. Suncor's management believes
the company will have the capital resources to fund its planned 2012 capital spending program of $7.5&nbsp;billion and meet current and long-term working capital requirements. The
company's cash flow from operations depends on a number of factors, including commodity prices, production and sales volumes, refining and marketing margins, operating expenses, taxes, royalties and
foreign exchange rates. If additional capital is required, Suncor's management believes adequate additional financing will be available in debt capital markets at commercial terms and&nbsp;rates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
the year ended December&nbsp;31, 2011, the company's net debt to cash flow from operations measure was 0.7&nbsp;times, which met management's target of less than 2.0&nbsp;times. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, cash and cash equivalents increased $2.726&nbsp;billion to $3.803&nbsp;billion, due mainly to higher cash flow from operations and net proceeds from transactions with Total E&amp;P. These
increases were partially offset by the company reducing its short-term debt by $1.221&nbsp;billion, repaying $500&nbsp;million of Medium Term Notes that came due in 2011, higher
capital and exploration expenditures, the return of $500&nbsp;million to shareholders through the share repurchase plan, and a 10% increase to the company's quarterly dividend (to&nbsp;$0.11 per
common share) declared in the second quarter of&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Unutilized
lines of credit at December&nbsp;31, 2011 were approximately $4.428&nbsp;billion, compared to $5.289&nbsp;billion at December&nbsp;31,&nbsp;2010. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>53</B></FONT></P>

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<!-- ZEQ.=1,SEQ=37,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=618713,FOLIO='53',FILE='DISK135:[12ZAL1.12ZAL70001]DS70001A.;17',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ds70001_1_54"> </A>

<P style="font-family:;"><FONT SIZE=2>A
summary of available and utilized credit facilities is as&nbsp;follows: </FONT></P>

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<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
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<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Facility that is fully revolving for a period of one year and expires in&nbsp;2013</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;000</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Facilities that are fully revolving for a period of four years and expire in&nbsp;2013</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>203</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Facility that is fully revolving for a period of four years and expires in&nbsp;2016</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;000</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Facilities that can be terminated at any time at the option of the&nbsp;lenders</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>612</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Total available credit facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;815</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Less:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Credit facilities supporting outstanding commercial&nbsp;paper</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>761</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Credit facilities supporting standby letters of&nbsp;credit</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>626</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="88%" style="font-family:;"><FONT SIZE=1>Total unutilized credit facilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;428</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financing Activities</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Management of debt levels continues to be a priority for Suncor given the company's long-term growth plans. Suncor's management believes a phased and
flexible approach to existing and future growth projects should assist Suncor in maintaining its ability to manage project costs and debt&nbsp;levels. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>At
December&nbsp;31, 2011, Suncor's net debt was $6.976&nbsp;billion, compared to $11.254&nbsp;billion at December&nbsp;31,&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Change in Net Debt</B></FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt&nbsp;&#150;&nbsp;December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;254</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Decrease in net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4&nbsp;278</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt&nbsp;&#150;&nbsp;December&nbsp;31, 2011</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;976</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Decrease in net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Cash flow from operations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;746</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Capital and exploration expenditures and other&nbsp;investments</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6&nbsp;856</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Proceeds from divestitures, net of costs for&nbsp;acquisitions</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;232</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Dividends less proceeds from exercise of share&nbsp;options</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(451</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Repurchase of common shares</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(500</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Change in non-cash working capital and&nbsp;other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>268</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Foreign exchange on cash, long-term debt and other&nbsp;balances</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(161</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;278</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
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<P style="font-family:;"><FONT SIZE=2>The company expects to maintain access to short-term commercial paper borrowing at competitive interest rates by keeping short-term debt
at existing levels. During 2011, the company transitioned the majority of its short-term debt to U.S.&nbsp;dollar denominated commercial paper. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company has invested excess cash in short-term financial instruments that are presented as cash and cash equivalents. The objectives of the company's short-term investment
portfolio are to ensure the preservation of capital, maintain adequate liquidity to meet Suncor's cash flow requirements and deliver competitive returns consistent with the quality and diversification
of investments within acceptable risk parameters. The maximum weighted average term to maturity of the short-term investment portfolio is expected not to exceed six months, and all
investments are expected to be with counterparties with investment grade debt ratings. As at December&nbsp;31, 2011, the weighted average term to maturity of the short-term investment
portfolio was 31&nbsp;days. In 2011, the company earned approximately $21&nbsp;million of interest income on this&nbsp;portfolio. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
interest on debt (before capitalized interest) in 2011 was $661&nbsp;million, compared to $704&nbsp;million in 2010. The decrease in interest reflects the decrease in
short-term debt and the repayment of the Medium Term Notes. Fixed-to-floating interest rate swaps on the company's long-term debt in place at
December&nbsp;31, 2010 matured during the year, coinciding with the repayment of the Medium Term&nbsp;Notes. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company obtained regulatory approval for a Normal Course Issuer Bid (NCIB) with the Toronto Stock Exchange authorizing the purchase for cancellation of up to $500&nbsp;million of its common
shares. The NCIB was announced on August&nbsp;20, 2011 and began on September&nbsp;6, 2011. The purchase of $500&nbsp;million of the company's common shares was completed by December&nbsp;31,
2011. Pursuant to the NCIB, the company repurchased 17,128,065&nbsp;shares at an average price of $29.19 per share in 2011. All common shares acquired under the NCIB have been&nbsp;cancelled. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
is subject to financial and operating covenants related to its public market and bank debt. Failure to meet the terms of one or more of these covenants may constitute an Event of Default as
defined in the respective debt agreements, potentially resulting in accelerated repayment of one or more of the debt obligations. The company is in compliance with its financial covenant that requires
total debt to not exceed 60% of its total debt plus shareholders' equity. At December&nbsp;31, 2011, total debt to total debt plus shareholders' equity was 22% (December&nbsp;31,
2010&nbsp;&#150;&nbsp;26%). The company is also currently in compliance with all operating covenants. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Credit Ratings</U></B></FONT></P>


<P style="font-family:;"><FONT SIZE=2>The following information regarding the company's credit ratings is provided as it relates to the company's cost of funds and liquidity and indicates whether or
not the </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>54</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=38,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=8753,FOLIO='54',FILE='DISK135:[12ZAL1.12ZAL70001]DS70001A.;17',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ds70001_1_55"> </A>
<BR>

<P style="font-family:;"><FONT SIZE=2>company's
credit ratings have changed. In particular, the company's ability to access unsecured funding markets and to engage in certain collateralized business activities on a
cost-effective basis is primarily dependent upon maintaining competitive credit ratings. A lowering of the company's credit rating may also have potentially adverse consequences for the
company's funding capacity or access to capital markets, may affect the company's ability, and the cost, to enter into normal course derivative or hedging transactions, and may require the company to
post additional collateral under certain contracts. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company's long-term senior debt ratings are: </FONT></P>

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<TD WIDTH="75%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Long-term Senior Debt</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Rating</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Long-term<BR>
Outlook</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Standard&nbsp;&amp; Poor's</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>BBB+</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Stable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Dominion Bond Rating Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A (low</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Stable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="75%" style="font-family:;"><FONT SIZE=1>Moody's Investors Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Baa2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Positive</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>The company's commercial paper ratings are: </FONT></P>

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<TD WIDTH="74%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Commercial Paper</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Cdn$<BR>
Rating</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>US$<BR>
Rating</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Standard&nbsp;&amp; Poor's</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A-1 (low</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A-2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Dominion Bond Rating Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>R-1 (low</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>not rated</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="74%" style="font-family:;"><FONT SIZE=1>Moody's Investors Service</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>not rated</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>P-2</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>In 2011, Moody's upgraded its long-term outlook for senior debt from stable to positive, and Suncor initiated access to the U.S.&nbsp;market for
U.S.&nbsp;dollar commercial paper. Otherwise, these credit ratings are unchanged from December&nbsp;31,&nbsp;2010. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Outstanding Shares</U></B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="83%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>December&nbsp;31, 2011 (thousands)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><FONT SIZE=1>


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</TR>
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<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Common shares</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;558&nbsp;636</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Common share options&nbsp;&#150;&nbsp;exercisable and non-exercisable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>59&nbsp;178</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="83%" style="font-family:;"><FONT SIZE=1>Common share options&nbsp;&#150;&nbsp;exercisable</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39&nbsp;482</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=4 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>As at February&nbsp;17, 2012, the total number of common shares outstanding was 1,561,658,318 and the total number of exercisable and
non-exercisable common share options outstanding was 60,712,741. Once exercisable, each outstanding common share option is convertible into one common&nbsp;share. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Contractual Obligations, Commitments, Guarantees, and Off-Balance Sheet
Arrangements</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In the normal course of business, the company is obligated to make future payments, including contractual obligations and non-cancellable
commitments. </FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=9 ALIGN="CENTER" style="font-family:;"><FONT SIZE=1>Payments Due by Period</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2012</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2013 to 2014</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2015 to 2016</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>Thereafter</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Fixed- and revolving-term debt&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;287</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>762</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>725</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;800</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Interest payments on fixed-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;607</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>596</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;181</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;129</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;701</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Finance lease payments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;026</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>53</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>109</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>758</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Decommissioning and restoration costs&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;275</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>426</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>887</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>309</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;653</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Operating lease agreements, pipeline capacity and energy services commitments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;633</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;080</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;088</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;680</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8&nbsp;785</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Exploration work commitments</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>608</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>287</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>286</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Other long-term obligations&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>691</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>335</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>320</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="34%" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>44&nbsp;127</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;539</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;593</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;298</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31&nbsp;697</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
debt that is redeemable at Suncor's option.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Represents
the undiscounted amount of obligations associated with land and tailings reclamation and site restoration and decommissioning costs.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Includes
the Libya ESPA signature bonus and Fort Hills purchase obligations. See the Other Long-Term Liabilities note to the 2011 audited Consolidated Financial
Statements. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>In addition to the enforceable and legally binding obligations quantified in the table presented above, Suncor has other obligations for goods and services that
were entered into in the normal course of business, which may terminate on short notice, including commitments for the purchase of commodities for which an active, highly liquid market exists, and
which are expected to be re-sold shortly after&nbsp;purchase. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company does not believe it has any guarantees or off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on the company's
financial condition or financial performance, including liquidity and capital resources. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>55</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=39,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=857227,FOLIO='55',FILE='DISK135:[12ZAL1.12ZAL70001]DS70001A.;17',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ds70001_1_56"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Financial Instruments</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor periodically enters into derivative contracts such as forwards, futures, swaps, options and costless collars. We use these derivative contracts to hedge
risks related to purchases and sales of commodities, to manage exposure to interest rates and to hedge risks specific to individual transactions. Gains or losses on the revaluation and settlement of
derivative contracts used for these risk management activities are recorded as Other Income in the Consolidated Statements of Comprehensive Income. For the year ended December&nbsp;31, 2011, the
pre-tax earnings impact for risk management activities was a loss of $22&nbsp;million (2010&nbsp;&#150;&nbsp;pre-tax gain of $89&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company's Energy Trading business uses crude oil, natural gas, refined product and other derivative contracts to generate net earnings, recorded as Other Income. For the year ended
December&nbsp;31, 2011, the pre-tax earnings impact for Energy Trading activities was $301&nbsp;million (2010&nbsp;&#150;&nbsp;pre-tax earnings of
$106&nbsp;million). </FONT></P>

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<TD WIDTH="81%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Fair value of contracts at beginning of&nbsp;period</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(74</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(359</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Fair value of contracts realized during the&nbsp;period</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(239</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Change in fair value during the&nbsp;period</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>279</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>195</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Fair value of derivative contracts at end of&nbsp;period</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(34</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(74</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>During 2011, interest rate swaps classified as fair value hedges relating to $200&nbsp;million of fixed-rate debt expired. At December&nbsp;31,
2010, the fair value of the interest rate swaps was an $8&nbsp;million asset. Suncor is not applying hedge accounting to any derivative contracts as at December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
fair value of derivatives pertaining to risk management and Energy Trading activities are recorded in the Consolidated Balance Sheets as&nbsp;follows: </FONT></P>

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<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Fair value of derivative contracts at<BR>
December&nbsp;31 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Accounts receivable</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>37</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>27</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>Accounts payable</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(71</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(93</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="81%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(34</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(66</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Risks Associated with Derivative Financial Instruments</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor may be exposed to certain losses in the event that counterparties to derivative financial instruments are unable to fulfil their obligations under these contracts. The
company minimizes this risk by entering into agreements with investment grade counterparties. Risk is also minimized through regular management review of the potential exposure to and credit ratings
of such counterparties. Suncor's exposure is limited to those counterparties holding derivative contracts with net positive fair values at a reporting&nbsp;date. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor's
risk management activities are subject to periodic reviews by management to determine appropriate hedging requirements based on the company's tolerance for exposure to market volatility, as
well as the need for stable cash flow to finance future growth. Energy Trading activities are governed by a separate risk management group that reviews and monitors practices and policies and provides
independent verification and valuation of these activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
further details on our derivative financial instruments, including assumptions made in the calculation of fair value, a sensitivity analysis of the effect of changes in commodity prices on our
derivative financial instruments, and additional discussion of exposure to risks and mitigation activities, see the Financial Instruments and Risk Management note in our 2011 audited Consolidated
Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Canadian Federal Budget Proposal</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>On December&nbsp;15, 2011, Bill C-13 received Royal Assent and is considered enacted under IFRS. This new legislation includes the limitation of
deferral opportunities for corporate partnerships, the change in the future treatment of oil sands lease purchases to Canadian oil and gas property expense from Canadian development expense, and the
change in future treatment of pre-production development expenses for oil sands mines to Canadian development expense from Canadian exploration expense. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
company has completed an assessment of the new legislation and expects that, in future years, it will decrease cash flow from operations by accelerating the payment of cash income taxes, but will
not have a significant impact on net&nbsp;earnings. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>56</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>10. ACCOUNTING POLICIES AND CRITICAL ACCOUNTING ESTIMATES</B></FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Changes in Accounting Policies</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor's
significant accounting policies are described in note&nbsp;3 to&nbsp;the December&nbsp;31, 2011 audited Consolidated Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Adoption of IFRS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Effective January&nbsp;1, 2011, the company began reporting under IFRS. The accounting policies referenced above have been applied in preparing the financial results for the
years ended December&nbsp;31, 2011 and 2010, and the company's opening balance sheet as at January&nbsp;1, 2010. Detailed reconciliations of amounts reported under Previous GAAP to those presented
in this MD&amp;A are provided in the First-Time Adoption of IFRS note to&nbsp;the December&nbsp;31, 2011 audited Consolidated Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following table provides a summary reconciliation of consolidated net earnings reported under Previous GAAP to that reported under&nbsp;IFRS: </FONT></P>

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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31, 2010 ($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings, as reported under Previous&nbsp;GAAP</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;571</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Adjustments to net earnings:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and&nbsp;impairment</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>274</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Gain on disposal of&nbsp;assets</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>54</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="85%" style="font-family:;"><FONT SIZE=1>Provision for deferred income&nbsp;taxes</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(87</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings, as reported under&nbsp;IFRS</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=6 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2>The transition to IFRS included adjustments of $1.632&nbsp;billion that decreased the carrying amount of Suncor's property, plant and equipment as at
January&nbsp;1, 2010. Suncor applied an IFRS exemption that permitted it to revalue the amount of decommissioning and restoration costs included in the carrying value of the related assets. Suncor
also applied an IFRS exemption that permitted it to record certain assets at fair value less costs to sell on the date of transition. The increase in net earnings for 2010 under IFRS compared to
Previous GAAP is primarily a result of applying these exemptions to decrease the company's carrying value of property, plant and equipment, and consequently decrease subsequent depreciation of those
assets and increase any gains or decrease any losses on the disposal of those&nbsp;assets. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
transition to IFRS also required that the company adopt accounting policies that are different to those previously reported. Changes to accounting policies that may have a significant impact on
the company's net earnings or presentation of net earnings include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Impairment of assets&nbsp;&#150;&nbsp;Under Previous GAAP, an asset was not impaired if estimates of its recoverable amount
using undiscounted expected future cash flows exceeded its net carrying value. Under IFRS, discounted cash flows must form the estimate of recoverable amount, essentially making it more likely that
asset impairments will occur. For its 2010 net earnings under Previous GAAP, the company had recorded a pre-tax impairment charge of $220&nbsp;million that would have been required
earlier under IFRS because of this difference in accounting policy. Under IFRS, this impairment was reflected in the opening balance sheet as at January&nbsp;1,&nbsp;2010.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Classification of discontinued operations&nbsp;&#150;&nbsp;Under Previous GAAP, most of the company's 2010 asset
dispositions met the definition of discontinued operations, whereas under IFRS only an immaterial amount of the 2010 dispositions met the IFRS definition of discontinued operations. As a result, the
company has restated amounts previously reported and is not presenting any discontinued operations for 2010 comparative figures. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Energy Supply and Trading Activities</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>During 2011, the company completed a review of its energy supply and trading activities and determined that the nature and purpose of transactions previously presented on a
gross basis in Energy Supply and Trading Activities Income and Expenses in the Consolidated Statements of Comprehensive Income have evolved such that they are more appropriately reflected through net
presentation. Realized and unrealized gains and losses, and the underlying settlement of these transactions, are now recognized and recorded on a net basis in Other Income. Prior period comparative
figures have been reclassified for comparability with the current period presentation. Changes to the Consolidated Statements of Comprehensive Income are as&nbsp;follows: </FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31, 2010<BR>
($&nbsp;millions, increase/(decrease))</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><FONT SIZE=1>


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</FONT>
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</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=1>Energy supply and trading activities income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;700</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=1>Other income</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>102</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=1>Energy supply and trading activities expenses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(2&nbsp;598</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="86%" style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 style="font-family:;"><FONT SIZE=1>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Recently Announced Accounting
Standards</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Financial Instruments: Recognition and Measurement</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In November&nbsp;2009, as part of the International Accounting Standards Board (IASB) project to replace International Accounting Standard (IAS)&nbsp;39 </FONT> <FONT SIZE=2><I>Financial Instruments: Recognition and
Measurement</I></FONT><FONT SIZE=2>, the IASB issued the first phase of IFRS&nbsp;9 </FONT><FONT SIZE=2><I>Financial
Instruments</I></FONT><FONT SIZE=2>. The </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>57</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=2>standard
contains requirements for the classification and measurement of financial assets. The new standard was further revised in October&nbsp;2010 to include requirements regarding the
classification and measurement of financial liabilities. The standard is applicable for Suncor's fiscal year beginning January&nbsp;1, 2015. The full impact of the standard will not be known until
the phases of the IASB's financial instruments project that address hedging and impairments have been&nbsp;completed. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Reporting Entity</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In May&nbsp;2011, the IASB issued IFRS&nbsp;10 </FONT><FONT SIZE=2><I>Consolidated Financial Statements</I></FONT><FONT SIZE=2>, IFRS&nbsp;11 </FONT><FONT SIZE=2><I>Joint
Arrangements</I></FONT><FONT SIZE=2>, IFRS&nbsp;12 </FONT><FONT SIZE=2><I>Disclosures of Interests in Other Entities</I></FONT><FONT SIZE=2>, and amendments to IAS&nbsp;27 </FONT> <FONT SIZE=2><I>Separate Financial Statements</I></FONT><FONT SIZE=2>
and IAS&nbsp;28 </FONT><FONT SIZE=2><I>Investments in Associates and Joint&nbsp;Ventures</I></FONT><FONT SIZE=2>.
 </FONT></P>

<P style="font-family:;"><FONT SIZE=2>IFRS&nbsp;10
creates a single consolidation model by revising the definition of control in order to apply the same control criteria to all types of entities, including joint arrangements, associates
and structured entities. IFRS&nbsp;11 establishes a principles-based approach to the accounting for joint arrangements by focusing on the rights and obligations of the arrangement, and limits the
application of proportionate consolidation accounting to arrangements that meet the definition of a joint operation. IFRS&nbsp;12 is a comprehensive disclosure standard for all forms of interests in
other entities, including subsidiaries, joint arrangements, associates and unconsolidated structured entities. Amendments to IAS&nbsp;27 and IAS&nbsp;28 reflect requirements in the
new&nbsp;standards. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>These
standards and amendments are effective for Suncor's fiscal year beginning January&nbsp;1, 2013. The company is currently assessing the impact of these standards and amendments; therefore, the
impact of these standards is not known at this&nbsp;time. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Fair Value Measurements</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In May&nbsp;2011, the IASB issued IFRS&nbsp;13 </FONT><FONT SIZE=2><I>Fair Value Measurement</I></FONT><FONT SIZE=2>, which establishes a single source of guidance for all
fair value measurements, clarifies the definition of fair value and enhances the disclosures on fair value measurements. This standard is effective for Suncor's fiscal year beginning January&nbsp;1,
2013. The company does not anticipate significant changes to its fair value measurements and related disclosures as a result of this&nbsp;standard. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Employee Benefits</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In June&nbsp;2011, the IASB issued amendments to IAS&nbsp;19 </FONT><FONT SIZE=2><I>Employee Benefits</I></FONT><FONT SIZE=2>, which revise the recognition, presentation and
disclosure requirements for defined benefit plans. These amendments are effective for Suncor's fiscal year beginning January&nbsp;1, 2013. The company does not anticipate significant impacts as a
result of these amendments. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Production Stripping Costs</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In October&nbsp;2011, the IASB issued International Financial Reporting Interpretation Committee (IFRIC) 20&nbsp;</FONT><FONT SIZE=2><I>Stripping Costs in the Production
Phase of a Surface Mine</I></FONT><FONT SIZE=2>. This interpretation requires the capitalization of stripping costs from the production phase of a mine if an entity can demonstrate that it is probable
that future economic benefits will be realized, that costs can be reliably measured, and that the component of the ore body for which access has been improved can be identified. This interpretation is
effective for annual periods beginning on or after January&nbsp;1, 2013. The company does not anticipate significant impacts as a result of this interpretation. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Critical Accounting Estimates</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The preparation of financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that affect reported assets,
liabilities, revenues, expenses, gains, losses, and disclosures of contingencies. These estimates and assumptions are subject to change based on experience and new information. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Critical
accounting estimates are those estimates that require management to make assumptions about matters that are highly uncertain at the time the estimate is made, and those estimates where
changes in critical assumptions that are within a range of reasonably possible outcomes would have a material impact on the company's financial condition, changes in financial condition or financial
performance. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Critical
accounting estimates are reviewed annually by the Audit Committee of the Board of Directors. The following are the critical accounting estimates used in the preparation of Suncor's
December&nbsp;31, 2011 audited Consolidated Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil and Gas Reserves and Resources</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Measurements of depletion, depreciation, amortization, impairment and decommissioning and restoration obligations are determined in part based on the company's estimate of oil
and gas reserves and resources. Although not reported as part of the company's audited Consolidated Financial Statements, these estimates of reserves and resources can have a significant impact on the
Consolidated Financial Statements. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
estimation of reserves involves the exercise of professional judgment. Reserves and resources were evaluated or reviewed as at December&nbsp;31, 2011 by qualified reserves evaluators in
accordance with National </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>58</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P style="font-family:;"><FONT SIZE=2>Instrument&nbsp;51-101
</FONT><FONT SIZE=2><I>Standards of Disclosure for Oil and Gas Activities</I></FONT><FONT SIZE=2>. The reserves and resources estimates are based on the definitions
and guidelines contained in the Canadian Oil and Gas Evaluation Handbook. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil
and gas reserves and resources estimates are based on a range of geological, technical and economic factors, including projected future rates of production, estimated commodity prices, engineering
data, and the timing and amount of future expenditures, all of which are subject to uncertainty. Assumptions reflect market and regulatory conditions existing at December&nbsp;31, 2011, which could
differ significantly from other points in time throughout the year or in future&nbsp;periods. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Oil and Gas Activities</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company is required to use judgment when designating the nature of oil and gas activities as exploration, evaluation, development or production, and when determining whether
the initial costs of these activities are capitalized. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Exploration and Evaluation Costs</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The costs of drilling exploratory wells are initially capitalized pending the evaluation of commercially recoverable resources. The determination that commercial resources have
been discovered requires judgment. If a judgment is made that there are no commercially recoverable reserves, the associated exploration costs are charged to exploration expense. Evaluation costs
incurred when management is assessing whether there are commercially recoverable resources and designing development and front-end engineering plans are capitalized. Capitalized costs
associated with exploration and evaluation assets are subject to ongoing technical, commercial and management review to confirm the continued intent to develop and extract the underlying resources.
When management is making this assessment, changes to project economics, quantities of resources, expected production techniques, unsuccessful drilling, and estimated production costs and capital
expenditures are important factors. If a judgment is made that extraction of the resources is not commercially viable, the associated exploration and evaluation assets are impaired and charged to net
earnings as part of depreciation, depletion, amortization and impairment expense. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Development Costs</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Management uses judgment to determine when exploration and evaluation assets are reclassified to property, plant and equipment. This decision considers several factors,
including the existence of reserves, the receipt of the appropriate approvals from regulatory bodies and the company's internal project approval processes. After an oil and gas property is
reclassified to property, plant and equipment, all subsequent development costs are capitalized. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Impairment of Assets</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>A cash-generating unit (CGU) is the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of
other assets or groups of assets. The allocation of the company's assets into CGUs requires significant judgment with respect to the integration between assets, the use of shared infrastructure, the
existence of active markets for the company's products and the way in which management monitors operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>At
the end of each reporting period, the company is required to identify events or conditions that indicate that the net carrying value of a CGU might be impaired. If any such indication exists, the
company must complete an impairment assessment for the CGU. A CGU is impaired when the net carrying value of the CGU exceeds management's estimate of the recoverable amount of the CGU, which is the
higher of the CGU's fair value less costs to sell and its value-in-use. Fair value less costs to sell is the amount obtainable from the sale of the CGU in an arm's-length
transaction between knowledgeable, willing parties, less costs of disposal. In determining fair value less costs to sell, recent market transactions are taken into account if available; however, in
the absence of such transactions, an appropriate valuation model is used. Value-in-use is assessed using the present value of the future cash flows that the company expects to
derive from the CGU. Where management determines that a CGU is impaired, the net carrying value of the CGU is reduced to the estimated recoverable amount, with the difference reported as part of
depreciation, depletion, amortization and impairment expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Regardless
of any indication of impairment, the company must complete an annual impairment assessment for any CGU, or group of CGUs, whose net carrying value includes indefinite-life
intangible assets or an allocation of goodwill. For Suncor, this includes impairment assessments of the Oil Sands segment and the Refining and Marketing segment. For 2011, the company completed this
review as at July&nbsp;31, 2011, at which time there were no indications that goodwill was&nbsp;impaired. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>At
the end of each reporting period, the company must also assess if there are indicators that conditions causing a previous impairment have reversed. Where new estimates of recoverable amount exceed
net carrying value, previously recorded impairment adjustments are reversed, up to the amount of the original impairment. An impairment of goodwill cannot be&nbsp;reversed. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor, the estimated recoverable amount of a CGU is predominantly determined using discounted net future </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>59</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>cash
flow models. The key assumptions the company uses for estimating future cash flows are future commodity prices, expected production volumes, future operating and development costs, and refining
margins. The estimated useful life of the CGU, the timing of future cash flows and discount rates are also important assumptions made by management. Changes to these assumptions will affect the
recoverable amount of a CGU and may require a material impairment to the net carrying value of that&nbsp;CGU. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
company also assesses the impairment of assets when they are classified as held for sale or when they are reclassified from exploration and evaluation assets to property, plant and equipment in
the Consolidated Balance Sheets. Assets held for sale are measured at the lower of net carrying value and fair value less costs to sell, which in this situation may also be determined based on
expected sale proceeds when an offer has been&nbsp;received. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following discusses important impairment assessments completed during 2011: </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Libya</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In the second quarter of 2011, the company recorded impairment charges of $259&nbsp;million against property, plant and equipment, $211&nbsp;million against exploration and
evaluation assets, and $44&nbsp;million against inventories pertaining to its operations in Libya, which had been shut-in at that time due to unrest. All impairment charges for Libyan
assets are net of income taxes of&nbsp;$nil. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
net recoverable amount was estimated under a value-in-use premise and determined using discounted cash flow models under probability-weighted scenarios representing
i)&nbsp;resumption of normal operations after one year; ii)&nbsp;resumption of normal operations after two years; and iii)&nbsp;total&nbsp;loss. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Scenarios
involving the company resuming normal operations used current forecasts for the price of crude oil, estimates of operating and development expenditures based on the field redevelopment
anticipated by Suncor's business plans prior to the suspension of operations, a discount rate (17%) that represented management's best estimate of the ongoing risk involved with operating in Libya,
and management's best estimate of the incremental rebuilding costs to bring operations back on-stream. Management's forecasts for production were based on proved and probable reserves
evaluated by external qualified reserves evaluators and risk-adjusted best estimates of contingent resources evaluated by Suncor's internal qualified reserves evaluators, both evaluated as
at December&nbsp;31, 2010. The scenario involving the company not resuming operations in Libya included the effects of the company not paying certain liabilities. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Later
in 2011, a change in the Libyan government resulted in the lifting of certain sanctions that were impacting the company's operations in the country, and the company's joint venture partner was
able to restart production in three of five fields by the end of 2011. The company started to receive production payments in January&nbsp;2012, and the joint
venture partner confirmed the existence of crude oil inventories that the company had written off, resulting in the company reversing $11&nbsp;million of impairment charges. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Discussions
with the Libyan authorities have commenced on the status of existing contract terms, including production volumes and time frames for future exploration commitments. There is also still
unpredictability concerning production levels, expectations about the ramp up of production, and the extent of damage to the company's assets, which has not yet been fully assessed. Therefore, at
December&nbsp;31, 2011, there has been no change in the company's overall assessment of the impairment, and no reversal of impairment has been recognized, except for the $11&nbsp;million
associated with crude inventories noted&nbsp;above. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>


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</I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Syria</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As a result of international sanctions announced in December&nbsp;2011, the company suspended its operations in Syria and ceased recording production or revenues. Suncor
performed an impairment test on its assets in Syria that determined that the assets were not impaired at December&nbsp;31, 2011. The carrying value of the company's net assets in Syria at
December&nbsp;31, 2011 was approximately $900&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
net recoverable amount for the company's Syrian assets was estimated under a value-in-use premise and determined using discounted cash flow models, which take into account
the long-term nature of the natural gas and light and medium oil reserves associated with these assets, under probability-weighted scenarios representing i)&nbsp;resumption of normal
operations after six months; ii)&nbsp;resumption of normal operations after one year; iii)&nbsp;resumption of normal operations after two years; and iv)&nbsp;total loss. This calculation is most
sensitive to management's assumption on the timing of the resumption of normal operations. If the probability weighting in the cash flow model was adjusted to reflect a 0% probability of the company
resuming normal operations within the next twelve months, the company's Syrian assets may be&nbsp;impaired. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Scenarios
involving the company resuming normal operations used current forecasts for the price of commodities, estimates of operating and development expenditures based on the field development
anticipated by Suncor's business plans prior to the suspension of operations, a discount rate (17%) that represented </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>60</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<BR>

<P style="font-family:;"><FONT SIZE=2>management's
best estimate of the ongoing risk involved with operating in Syria, and an assumption that the company will receive payment for any production during its absence in Syria. Management's
forecasts for production were based on proved and probable reserves evaluated by external qualified reserves evaluators as at December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>



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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>North America Onshore</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As a result of decreases in price forecasts for natural gas, the company recorded pre-tax impairment charges of $100&nbsp;million against certain CGUs in the North
America Onshore business. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Net
recoverable amounts for these CGUs were determined under a fair value less costs to sell premise, and determined using discounted cash flow models based on proved and probable reserves evaluated
by external qualified reserves evaluators as at December&nbsp;31, 2011, third-party price forecasts and a discount rate of&nbsp;12%. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>



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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>IFRS Transition Exemption</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company applied an IFRS transition exemption to record certain assets at fair value less costs to sell on the date of transition. The exemption was applied to refinery
assets located in Eastern Canada and certain natural gas assets in Western Canada, and resulted in a total reduction of $906&nbsp;million in the net carrying value of these assets. These adjustments
are not impairments and cannot be reversed because they were applied as part of the IFRS transition. The company's estimates of fair value less costs to sell for these assets required management to
make judgments and use assumptions at the transition date that were similar to those described above. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Summary</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>As at December&nbsp;31, 2011, the company had $715&nbsp;million of impairments on assets in the Exploration and Production segment, consisting of $503&nbsp;million of
impairments for Libya assets and $212&nbsp;million of impairments on North America Onshore assets (2010&nbsp;&#150;&nbsp;$112&nbsp;million). </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Fair Value of Financial Instruments</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>To estimate the fair value of financial instruments, the company uses quoted market prices when available, or models that use observable market data. In addition to market
information, Suncor incorporates transaction-specific details that market participants would use in a fair value measurement, including the impact of non-performance risk. Inputs used in
determining fair value are characterized using a hierarchy that prioritizes inputs depending on the degree to which they are observable. However, these fair value estimates may not necessarily be
indicative of the amounts that could be realized or settled in a current market transaction. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Provisions for Decommissioning and Restoration&nbsp;Costs</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company recognizes liabilities for the future decommissioning and restoration of property, plant and equipment, including, but not limited to, the reclamation of lands
disturbed by mining oil sands, tailings ponds, producing well sites, and crude oil and natural gas processing plants. The provision for such liabilities is recognized only to the extent that there is
a legal or constructive obligation associated with the retirement of an asset that the company is required to
settle as a result of an existing or enacted law, statute, ordinance, written or oral contract, or by legal construction of a contract under the doctrine of promissory estoppel. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>These
provisions are based on estimated costs, which take into account the anticipated method and extent of restoration consistent with legal requirements, technological advances and the possible
future use of the site. Since these estimates are specific to the assets involved, there are many individual judgments and assumptions underlying Suncor's total provision. Actual costs are uncertain
and estimates can vary as a result of changes to relevant laws and regulations, the emergence of new technology, operating experience and changes in costs. The expected timing of future
decommissioning and restoration activities may change due to certain factors, including oil and gas reserves life. Changes to assumptions related to future expected costs, discount rates and timing
may have a material impact on the amounts presented. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>When
these provisions are initially recognized, an equal amount is capitalized as part of the cost of the associated asset and is amortized to expense over the life of the&nbsp;asset. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
fair value of these provisions is estimated by discounting the expected future cash flows using the company's credit-adjusted risk-free interest rate. In subsequent periods, the
provision is adjusted for the passage of time by charging an amount to accretion of liabilities in financing expenses, based on the discount&nbsp;rate. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Suncor's
provision for decommissioning and restoration costs increased by $1.168&nbsp;billion in 2011. The most significant change in the provision resulting from a change in estimates was with
respect to the expected timing of future reclamation activity, which has accelerated primarily as a result of recent advancements from the use of TRO<SUB>TM</SUB>. The provision also increased due to
a decrease in the average discount rate (2011&nbsp;&#150;&nbsp;4.3%; 2010&nbsp;&#150;&nbsp;5.4%) and new liabilities primarily associated with land
disturbance in 2011, offset by the settlement of certain liabilities and the impacts of asset disposals. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>61</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Other Provisions</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The determination of other provisions, including, but not limited to, provisions for royalty disputes, onerous contracts, litigation and constructive obligations, is a complex
process that involves judgments about the outcomes of future events, the interpretation of laws and regulations, expected future cash flows and discount&nbsp;rates. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>An
onerous contract is one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under&nbsp;it. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>A
constructive obligation is one where Suncor, by an established pattern of past practice, published policies, or a sufficiently current statement, has indicated that it will accept certain
responsibilities and has created a valid expectation in other parties that it will discharge those responsibilities. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
company is involved in litigation and claims in the normal course of operations. As at December&nbsp;31, 2011, management believes the result of any settlements related to such litigation or
claims would not materially affect the financial position of the&nbsp;company. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Employee Future Benefits</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company provides benefits to employees and retired employees, including pensions and other post-retirement benefits. The obligations and costs of defined benefit
pension and other post-retirement benefit plans are determined based on actuarial valuation methods and assumptions. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Assumptions
typically used in determining these amounts include, as applicable, rates of employee turnover, future claim costs, discount rates, future salary and benefit levels, the return on plan
assets, mortality rates and future medical costs. The accrued net benefit liability is reported as other long-term liabilities in the Consolidated Balance&nbsp;Sheets. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
fair value of plan assets is determined using market values. The estimated rate of return on plan assets in the portfolio considers the current level of returns on fixed income assets, the
historical level of risk premium associated with other asset classes and the expected future returns on all asset classes. The discount rate assumption is based on the year-end interest
rates for high quality bonds that mature at times concurrent with the company's benefit obligations. The estimated rate for compensation increases is based on management's judgment. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Actuarial
valuations are subject to management's judgment. Actuarial gains and losses comprise changes to assumptions related to discount rates, expected return on plan assets and annual rates for
compensation increases. They are accounted for on a prospective basis and may have a material impact on the amounts presented. Actuarial gains and losses are recognized in other comprehensive income
in the Consolidated Statements of Comprehensive Income in the period incurred. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Income Taxes</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The determination of the company's income tax provision is an inherently complex process, requiring management to interpret continually changing regulations and to make other
judgments, including those about deferred income taxes that are discussed below. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Management
believes that adequate provisions have been made for all income tax obligations, although the results of audits and reassessments and changes in the interpretations of standards may result
in a material increase or decrease in the company's assets, liabilities and net&nbsp;earnings. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>Deferred Income Taxes</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>A taxable or a deductible temporary difference may exist when there is a difference between the carrying value of an asset or liability and its respective tax basis. The
reversal of deductible temporary differences results in deductible amounts when determining taxable income in future periods. The reversal of taxable temporary differences results in taxable amounts
when determining taxable income of future&nbsp;periods. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Deferred
tax assets are recognized when it is considered probable that deductible temporary differences will be recovered in the foreseeable future. To the extent that future taxable income and the
application of existing tax laws in each jurisdiction differ significantly from the company's estimate, the ability of the company to realize the deferred tax assets could be&nbsp;impacted. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Deferred
tax liabilities are recognized when there are taxable temporary differences that will reverse and result in a future outflow of funds to a taxation authority. The company records a provision
for the amount that is expected to be settled, which requires the application of judgment as to the ultimate outcome. Deferred tax liabilities could be impacted by changes in the company's estimate of
the likelihood of a future outflow, the expected settlement amount, and the tax laws in the jurisdictions in which the company operates. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>62</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>11. RISK FACTORS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
company is committed to a proactive program of enterprise risk management intended to enable decision-making through consistent identification of risks inherent to the assets and activities of
Suncor. The company's enterprise risk committee, comprised of senior representatives from business and functional groups across Suncor, oversees entity-wide processes to identify, assess
and report on the company's principal risks. A principal risk is an exposure that has the potential to materially impact the ability of one of the company's businesses or functions to meet or support
a Suncor objective. The following provides a list of some of the risk factors relating to Suncor and its operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Commodity Price Volatility</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our financial performance is closely linked to prices for crude oil in our upstream businesses and prices for refined petroleum products in our downstream
business, and, to a lesser extent, to natural gas prices in our upstream businesses, where natural gas is both an input and output of production processes. The values for all of these commodity prices
can be influenced by global and regional supply and demand&nbsp;factors. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Crude
oil prices are also affected by, among other things, global economic health and global economic growth (particularly in emerging markets), political developments, compliance or
non-compliance with quotas imposed on members of the Organization of Petroleum Exporting Countries (OPEC), access to markets for crude oil, and weather. These factors impact the various
types of crude oil and refined products differently and can impact differentials between light and heavy grades of crude oil (including blended bitumen), and between conventional and synthetic
crude&nbsp;oil. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor
anticipates higher production of non-upgraded bitumen in future years, due mainly to expansion at Firebag. Due to its low viscosity, bitumen is blended with a light diluent or
synthetic crude oil and sold as a heavy crude oil. The markets for heavy crude oil are more limited than those for light crude, making them more susceptible to supply and demand changes. Heavy crude
oil receives lower market prices than light crude, due principally to the lower quality and value of the refined product yield, and the higher cost to transport the more viscous product on pipelines.
The price differential between light crude and WCS is particularly important for Suncor. WCS is a pool of heavy crude oil and blended bitumen production from Western Canada. The market price for WCS
is influenced by regional supply and demand factors, including the availability and price of diluent, and by the availability and cost of accessing primary markets through pipeline systems. Future
price differentials are uncertain and widening light/heavy differentials could have a negative impact on our business, especially price realizations for bitumen that Suncor is unable
to&nbsp;upgrade. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Refined
petroleum product prices and refining margins are also affected by, among other things, crude oil prices, the availability of crude oil and other feedstocks, levels of refined product
inventories, regional refinery availability, marketplace competitiveness, and other local market&nbsp;factors. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Natural
gas prices in North America are affected primarily by supply and demand, and by prices for alternative energy sources. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>All
of these factors are beyond our control and can result in a high degree of price volatility. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Commodity
prices and refining margins have fluctuated widely in recent years. Given the recent global economic uncertainty, we expect continued volatility and uncertainty in commodity prices in the
near term, with the possibility that crude oil and refined petroleum products prices could revert to the low levels experienced in 2008 and 2009. A prolonged period of low prices could affect the
value of our upstream and downstream assets and the level of spending on growth projects, and could result in the curtailment of production on some properties or include an impairment of carrying
value. Accordingly, low commodity prices, particularly for crude oil, could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Government Policy</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Suncor operates under federal, provincial, state and municipal legislation in numerous countries. The company is also subject to regulation and intervention by
governments in oil and gas industry matters, such as land tenure, royalties, taxes (including income taxes), government fees, production rates, environmental protection controls, safety performance,
the reduction of greenhouse gas (GHG) and other emissions, the export of crude oil, natural gas and other products, the company's interactions with foreign governments, the awarding or acquisition of
exploration and production rights, oil sands leases or other interests, the imposition of specific drilling obligations, control over the development and abandonment of fields and mine sites
(including restrictions on production) and possibly expropriation or cancellation of contract rights. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Changes
in government policy or regulation have a direct impact on Suncor's business, financial condition, results of operations and cash flow, as evidenced by such initiatives </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>63</B></FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>as
the Alberta government's royalty review program in 2007, and, more recently, by trade sanctions in Libya and Syria imposed by Canadian and other international governments, and increased production
taxes in the U.K.&nbsp;Changes in government policy or regulation can also have an indirect impact on Suncor, such as opposition to new North American pipeline systems, such as Keystone&nbsp;XL,
or incrementally over time through increasingly stringent environmental regulations or unfavourable income tax and royalty regimes. The result of such changes can also lead to additional compliance
costs and staffing and resource levels, and also increase exposure to other principal risks of Suncor, including environmental or safety non-compliance and permit approvals. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Environmental Regulation</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Changes in environmental regulation could have a material adverse effect on our business, financial condition, results of operations and cash flow by impacting the demand,
formulation or quality of our products, or by requiring increased capital expenditures or distribution costs, which may or may not be recoverable in the marketplace. The complexity and breadth of
changes in environmental regulation make it extremely difficult to predict the potential impact to Suncor. Management anticipates capital expenditures and operating expenses could increase in the
future as a result of the implementation of new and increasingly stringent environmental regulations. Failure to comply with environmental regulation may result in the imposition of significant fines
and penalties, liability for cleanup costs and damages, and the loss of important licences and permits, which may, in turn, have a material adverse effect on our business, financial condition, results
of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Some
of the issues that are or may in future be subject to environmental regulation include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The possible cumulative regional impacts of oil sands development;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The manufacture, import, storage, treatment and disposal of hazardous or industrial waste and&nbsp;substances;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The need to reduce or stabilize various emissions to air;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Withdrawals, use of, and discharges to water;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The use of hydraulic fracturing to assist in the recovery and production of oil and natural&nbsp;gas;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Issues relating to land reclamation, restoration and wildlife habitat protection;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Reformulated gasoline to support lower vehicle emissions;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>U.S.&nbsp;state or federal calculation and regulation of fuel life-cycle carbon content;&nbsp;and



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Regulation or policy by foreign governments or other organizations to limit purchases of oil produced from unconventional sources, such as the
oil&nbsp;sands. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><B><I>


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</I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Climate Change Regulation</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Future laws and regulations may impose significant liabilities on failure to comply with their requirements; however, Suncor expects the cost of meeting new environmental and
climate change regulations will not be so high as to cause material disadvantage to the company or material damage to its competitive positioning. While it currently appears that GHG regulations and
targets will continue to become more stringent, and while Suncor will continue efforts to reduce the carbon dioxide (CO<SUB>2</SUB>) unit intensity of our operations, the absolute CO<SUB>2</SUB>
emissions of our company will continue to rise as we pursue a prudent and planned growth strategy. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
part of our ongoing business planning, Suncor assesses potential costs associated with CO<SUB>2</SUB> emissions in our evaluation of future projects, based on our current understanding of pending
and possible GHG regulations. Both the U.S. and Canada have indicated that climate change policies that may be implemented will attempt to balance economic,
environmental and energy security concerns. In the future, we expect that regulation will evolve with a moderate carbon price signal, and that the price regime will progress cautiously. Suncor will
continue to review the impact of future carbon constrained scenarios on our strategy, using a price range of $15-$45 per tonne of CO<SUB>2</SUB> equivalent as a base case, applied against
a range of regulatory policy options and price sensitivities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Although
Suncor does not actively market into California, the implications of other states or countries adopting Low Carbon Fuel Standard legislation could pose a significant barrier to our exports of
oil sands crude if the importing jurisdictions do not acknowledge efforts undertaken by the oil sands industry to meet the emissions intensity reductions legislated by the Government
of&nbsp;Alberta. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
general, there remains uncertainty around the outcome and impacts of proposed or potential future climate change and other related environmental regulation. The Canadian federal government has gone
on record as saying that it will align GHG emissions legislation with the U.S.&nbsp;Since it remains unclear what approach the U.S.&nbsp;will take, or when, it also is unclear whether the Canadian
federal government will implement economy-wide climate change legislation, or a sector-specific approach, and what type of compliance mechanisms will be available to large emitters. At
this time, the company does not believe it is </FONT></P>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>64</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
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<P style="font-family:;"><FONT SIZE=2>possible
to predict the nature of any requirements or the impact on Suncor's business, financial condition, results of operations and cash flow. The impact of developing regulations cannot be
quantified at this time given the current lack of detail on how systems will&nbsp;operate. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B><I>


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 </I></B></FONT><FONT COLOR="#09357A" SIZE=2><B><I>Land Reclamation</I></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are risks associated specifically with our ability to reclaim tailings ponds containing mature fine tailings with TRO<SUB>TM</SUB> or other methods and technologies.
Suncor expects that TRO<SUB>TM</SUB> will help the company reclaim existing tailings ponds. The success of TRO<SUB>TM</SUB> or any other methods of technology and the time to reclaim tailings ponds
could increase or decrease our decommissioning and restoration cost estimates. Our failure or inability to adequately implement our reclamation plans, including our planned implementation of
TRO<SUB>TM</SUB>, could have a material adverse effect on Suncor's business, financial condition, results of operations and cash flow. In recent years, Suncor has increased collaboration with other
participants in the oil sands industry to share technology and knowledge and to research alternative methods for tailings management. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Royalties</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Royalties can be impacted by changes in crude oil and natural gas pricing, production volumes, foreign exchange rates, and capital and operating costs, changes to existing
legislation or PSCs, and by results of regulatory audits of prior year filings and other unexpected events. Some of the issues where settlement with regulatory bodies may cause royalties expense or
royalties payable to differ materially from provisions currently recorded include: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>For Suncor's mining operations (not&nbsp;including Syncrude), the BVM is based on the terms of Suncor's RAA, which we believe places certain
limitations on the interim BVM as recently enacted, which modified the BVM for additional quality and transportation adjustments. For the years 2009 to 2010, Suncor filed non-compliance
notices with the Alberta government, citing that reasonable quality adjustments in the determination of the Suncor BVM were not considered by the Alberta government as permitted by Suncor's RAA.
Suncor has also filed with the Alberta government a Notice of Commencement of Arbitration under the Suncor RAA. The owners of the Syncrude joint venture have also filed a non-compliance
notice in respect of the determination of the bitumen value under its 2008 agreements with the Alberta government.


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Suncor has also appealed the disallowance of certain costs under the New&nbsp;Royalty Framework in Alberta and certain costs under royalty
agreements in Newfoundland and Labrador, such as insurance premiums. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>The
final determination of these matters may have a material impact on royalties payable to the respective governments and the company's royalties expense. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Foreign Operations</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company has operations in a number of countries with different political, economic and social systems. As a result, the company's operations and related assets are subject
to a number of risks and other uncertainties arising from foreign government sovereignty over the company's international operations, which may include, among other&nbsp;things: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Currency restrictions and exchange rate fluctuations;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Loss of revenue, property and equipment as a result of expropriation, nationalization, war, insurrection and geopolitical and other political
risks;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Increases in taxes and governmental royalties;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Compliance with existing and emerging anti-corruption laws, including the Foreign Corrupt Practices Act of the United&nbsp;States,
the Corrupt Foreign Officials Act of Canada, and the United&nbsp;Kingdom Bribery&nbsp;Act;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Renegotiation of contracts with governmental entities and quasi-governmental agencies;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Changes in laws and policies governing operations of foreign-based companies;&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Economic and legal sanctions (such as restrictions against countries experiencing political unrest, or countries that other governments may deem
to sponsor terrorism). </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>If
a dispute arises in the company's foreign operations, the company may be subject to the exclusive jurisdiction of foreign courts or may not be able to subject foreign persons to the jurisdiction of
a court in Canada or the U.S. In addition, as a result of activities in these areas and a continuing evolution of an international framework for corporate responsibility and accountability for
international crimes, the company could also be exposed to potential claims for alleged breaches of international&nbsp;law. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
2011, operations in both Libya and Syria were suspended as a result of the outbreak of political unrest and the resulting sanctions imposed by international governments. Discussions with the Libyan
authorities continue on the status of existing contract terms, including production volumes and exploration commitments. There is still sufficient unpredictability underlying operations in this
region, including the ramp up of production, the sustainability of current production rates and the extent of damage to the company's assets, which has not yet been fully assessed. As a result, there
is </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>65</B></FONT></P>

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<P style="font-family:;"><FONT SIZE=2>no
assurance that production will return to previous levels or continue at current&nbsp;levels. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
response to sanctions and escalating political unrest in Syria, Suncor declared force majeure in December&nbsp;2011, withdrew its expatriate staff and stopped recording production from Syria.
Suncor's assessment of the situation as at December&nbsp;31, 2011 did not require the company to record an impairment charge against its assets in Syria; however,
should the current situation persist or worsen, such that Suncor is unable to resume operations in the near term, the company believes its assets in Syria could be impaired in the future. There is no
assurance as to when Suncor's production from Syrian assets will resume or return to previous levels. Suncor's operations in Syria represented approximately 3% of the company's consolidated net
earnings and 3% of the company's cash flow from operations in 2011. The carrying value of Suncor's net assets in Syria at December&nbsp;31, 2011 was approximately $900&nbsp;million. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
impact that future potential terrorist attacks, regional hostilities or political violence may have on the oil and gas industry, and on our operations in particular, is not known at this time.
This uncertainty may affect operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly crude oil, and the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and refineries, could be direct targets of, or collateral damage of, an act of terror, political violence or war. We may be required to incur
significant costs in the future to safeguard our assets against terrorist activities or to remediate potential damage to our facilities. There can be no assurance that we will be successful in
protecting ourselves against these risks and the related financial consequences. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>Environmental Health and Safety (EHS) Regulatory Non-Compliance</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The company is required to comply with a large number of EHS regulations under a variety of Canadian, U.S., U.K. and other foreign, federal, provincial, territorial, state and
municipal laws and regulations, as described in the Industry Conditions&nbsp;&#150;&nbsp;Environmental Regulation section of the 2011 AIF. Failure to comply with these
regulations may result in the imposition of fines and penalties, censure, liability for cleanup costs and damages, and the loss of important licences and permits, which could also have a material
adverse effect on our business, financial condition, results of operations and cash flow. Compliance can be affected by the loss of skilled staff, inadequate internal processes and compliance
auditing. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operational Outages and Major Environmental or Safety
Incidents</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Each of our primary operating segments&nbsp;&#150;&nbsp;Oil Sands, Exploration and Production, and Refining and
Marketing&nbsp;&#150;&nbsp;demand significant levels of investment in the design, operation and maintenance of facilities, and, therefore, carry the additional economic risk
associated with operating reliably or enduring a protracted operational outage. These businesses also carry the risks associated with environmental and safety performance, which is closely scrutinized
by governments, non-government organizations, the public and the media, and could result in a suspension of or inability to obtain regulatory approvals and permits, or, in the case of a
major environmental or safety incident, civil suits or charges against the&nbsp;company. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Generally,
our operations are subject to operational hazards and risks such as fires, explosions, blow-outs, power outages, severe winter climate conditions, and the migration of harmful
substances such as oil spills, gaseous leaks, or a release of tailings into water systems, any of which can interrupt operations or cause personal injury or death, or damage to property, equipment,
the environment, and information technology systems and related data and control systems. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
reliable operation of production and processing facilities at planned levels and our ability to produce higher value products can also be impacted by failure to follow operating procedures or
operate within established operating parameters, equipment failure through inadequate maintenance, unanticipated erosion or corrosion of facilities, manufacturing and engineering flaws, and labour
shortage or interruption. We are also subject to operational risks such as sabotage, terrorism, trespass, theft and malicious software or network attacks. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>The
efficient operation of our business is dependent on computer hardware and software systems. Information systems are vulnerable to security breaches by computer hackers and cyberterrorists. We rely
on industry accepted security measures and technology to securely maintain confidential and proprietary information stored on our information systems. However, these measures and technology may not
adequately prevent security breaches. In addition, the unavailability of the information systems or the failure of these systems to perform as anticipated for any reason could disrupt our business and
could result in decreased performance and increased operating costs, causing our business and results of operations to suffer. Any significant interruption or failure of our information systems or any
significant breach of security could adversely affect our business and results of&nbsp;operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>66</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2>In
addition, all of our operations are subject to all of the risks connected with transporting, processing and storing crude oil, natural gas and other related products. Pipeline capacity constraints
combined with plant capacity constraints could negatively impact our ability to produce at capacity levels. Disruptions in pipeline service could adversely affect commodity prices, Suncor's price
realizations, refining operations and sales volumes, or limit our ability to deliver production. These interruptions may be caused by the inability of the pipeline to operate or by the oversupply of
feedstock into the system that exceeds pipeline capacity. There can be no certainty that short-term operational constraints on pipeline systems arising from pipeline interruption and/or
increased supply of crude oil will not occur. In addition, planned or unplanned shutdowns or closures of our refinery customers or third-party suppliers may limit our availability to deliver
feedstock. All of these events could have negative implications on sales and cash from operating activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's Oil Sands operations, mining oil sands ore, extracting bitumen from mined ore, producing bitumen through in situ methods, and upgrading bitumen into SCO and other products involve
particular risks and uncertainties. Oil Sands operations are susceptible to loss of production, slowdowns, shutdowns or restrictions on our ability to produce higher value products, due to the
interdependence of its component systems. Through growth projects, we expect to further mitigate adverse impacts of interdependent systems and to reduce the production and cash flow impacts of
complete plant-wide shutdowns. For example, Suncor has two upgrader facilities that include three secondary upgrading units, which provide us with the flexibility to conduct periodic
planned maintenance events on one facility while continuing production from the&nbsp;other. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>For
Suncor's upstream businesses, there are risks and uncertainties associated with drilling for oil and natural gas, the operation and development of such properties and wells (including encountering
unexpected formations, pressures, ore grade qualities, or the presence of H<SUB>2</SUB>S), premature declines of reservoirs, sour gas releases, uncontrollable flows of crude oil, natural gas or well
fluids, other accidents, and pollution and other environmental risks. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our
Exploration and Production operations include drilling offshore of Newfoundland and Labrador and in the North Sea offshore of the U.K. and Norway, which are areas subject to hurricanes and other
extreme weather conditions. Drilling rigs in these regions may be exposed to damage or total loss by these storms, some of which may not be covered by insurance. The consequence of catastrophic
events, such as blow-outs, occurring in offshore operations can be more difficult and time-consuming to remedy. The occurrence of these events could result in the suspension of
drilling operations, damage to or destruction of the equipment involved and injury or death of rig personnel. Successful remediation of these events may be adversely affected by the water depths,
pressures and cold temperatures encountered in the ocean, shortages of equipment and specialists required to work in these conditions, or the absence of appropriate technology to resolve the event.
Damage to the environment, particularly through oil spillage or extensive, uncontrolled fires or death, could result from these offshore operations. Our offshore operations could also be affected by
the actions of our contractors and agents that could result in similar catastrophic events at their facilities, or could be indirectly affected by catastrophic events occurring at other third-party
offshore operations. In either case, this could give rise to liability, damage to our equipment, harm to individuals, force a shutdown of our facilities or operations, or result in a shortage of
appropriate equipment or specialists required to perform our planned operations. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>In
particular, East Coast Canada operations can be impacted by winter storms, pack ice, icebergs and fog. During the winter storm season (typically October to March), we may have to reduce production
rates at our offshore facilities as a result of limited storage capacity and the inability to offload to shuttle tankers due to wave height restrictions. During the spring, pack ice and icebergs
drifting in the area of our offshore facilities have resulted in precautionary shut in of FPSO production and drilling delays. In late spring and early summer, fog also impacts our ability to transfer
personnel to the offshore facilities by&nbsp;helicopter. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Our
Refining and Marketing operations are subject to all of the risks normally inherent in the operation of refineries, terminals, pipelines, other distribution facilities and service stations,
including loss of product, slowdowns due to equipment failures, unavailability of feedstock, price and quality of feedstock or other incidents. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Losses
resulting from the occurrence of any of these risks identified above could have a material adverse effect on Suncor's business, financial condition, results of operations and cash flow.
Although we maintain a risk management program, which includes an insurance component, such insurance may not provide adequate coverage in all circumstances, nor are all such risks insurable. It is
possible that our insurance coverage will not be sufficient to address the costs arising out of the allocation of liabilities and risk of loss arising from offshore operations. Suncor also has a
captive insurance entity to provide additional business interruption coverage for potential losses. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>67</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Project Execution and Partner Risk</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>There are certain risks associated with the execution of our major projects and the commissioning and integration of new facilities within our existing asset
base, the occurrence of which could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Project
execution risk consists of three related primary risks: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Engineering&nbsp;&#150;&nbsp;a failure in the specification, design or technology selection;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Construction&nbsp;&#150;&nbsp;a failure to build the project in the approved time and at the agreed cost;&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Commissioning and start-up&nbsp;&#150;&nbsp;a failure of the facility to meet agreed performance targets,
including operating costs, efficiency, yield and maintenance costs. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2>Management
believes the execution of major projects presents issues that require prudent risk management. Suncor may provide cost estimates for major projects at the conceptual stage, prior to
commencement or completion of the final scope design and detailed engineering necessary to reduce the margin of error of such cost estimates. Accordingly, actual costs can vary from estimates, and
these differences can be material. Project execution can also be impacted&nbsp;by: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Failure to comply with Suncor's project implementation model;


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The availability, scheduling and cost of materials, equipment and qualified personnel;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The complexities associated with integrating and managing contractor staff and suppliers in a confined construction&nbsp;area;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Our ability to obtain the necessary environmental and other regulatory approvals;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The impact of general economic, business and market conditions;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The impact of weather conditions;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Our ability to finance growth if commodity prices were to decline and stay at low levels for an extended period;


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Risks relating to restarting projects placed in safe mode, including increased capital costs;&nbsp;and


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>The effect of changing government regulation and public expectations in relation to the impact of oil sands development on the environment. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>Other
entities operate a portion of the assets in which Suncor has ownership interests. Suncor's dependence on its partners&nbsp;&#150;&nbsp;the operator and other working
interest owners for these assets&nbsp;&#150;&nbsp;and its limited ability to influence operations and associated costs could materially adversely affect Suncor's business,
financial condition, results of operations and cash flow. The success and timing of Suncor's activities on assets operated by others depend upon a number of factors that are outside of Suncor's
control, including the timing and amount of capital expenditures, the timing and amount of operational and maintenance expenditures, the operator's expertise, financial resources and risk management
practices, the approval of other participants, and the selection of&nbsp;technology. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>These
partners may have objectives and interests that do not coincide with and may conflict with Suncor's interests. Major capital decisions affecting jointly owned assets may require agreement among
the partners, while certain operational decisions may be made solely at the discretion of the operator of the applicable assets. While the partners generally seek consensus with respect to major
decisions concerning the direction and operation of the assets, no assurance can be provided that the future demands or expectations of either party relating to such assets will be met satisfactorily
or in a timely manner. Failure to satisfactorily meet demands or expectations by either party may affect our participation in the operation of such assets, our ability to obtain or maintain necessary
licences or approvals, and the timing for undertaking various activities. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Corporate Reputation</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The public perception of integrated oil and gas companies and their operations may pose issues related to development and operating approvals or market access
for products, which may have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>


<P style="font-family:;"><FONT SIZE=2>Development
of the oil sands has figured prominently in recent political, media and activist commentary on the subjects of pipeline transportation, climate change, GHG emissions, water usage and
environmental damage, which may directly or indirectly harm the profitability of our current oil sands projects and the viability of future oil sands projects in a number of ways, including: </FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Creating significant regulatory uncertainty that challenges economic modelling of future projects and potentially delays sanctioning;



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Motivating extraordinary environmental and emissions regulation of those projects by governmental authorities that could result in changes to
facility design and operating requirements, thereby potentially increasing </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>68</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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

<P style="font-family:;"><FONT SIZE=2>the
cost of construction, operation and abandonment;&nbsp;and


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</FONT></P>

</UL>
<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2>Compelling legislation or policy that limits the purchase of crude oil produced from the Athabasca oil sands by governments and other
institutional consumers that, in turn, limits the market for this crude oil and reduces its&nbsp;price. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>Concerns
such as those raised above may also harm our corporate reputation and limit our ability to transport our products or access land and joint venture opportunities in other jurisdictions
throughout the world. Investors may respond by applying a discount to Suncor's shares, thereby diminishing the company's value, or may hinder Suncor in its ability to influence government policy. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Permit Approvals</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Before proceeding with most major projects, including significant changes to existing operations, Suncor must obtain various federal, provincial or state permits
and regulatory approvals. Suncor must also obtain licences to operate certain assets. These processes can involve, among other things, stakeholder consultation, environmental impact assessments and
public hearings, and may be subject to conditions, including security deposit obligations and other commitments. Suncor can also be indirectly impacted by a third party's inability to obtain
regulatory approval for a shared infrastructure project. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Failure
to obtain regulatory approvals, or failure to obtain them on a timely basis or on satisfactory terms, could result in delays, abandonment or restructuring of projects and increased costs, all
of which could have a material adverse effect on Suncor's business, financial condition, results of operations and cash&nbsp;flow. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Skills and Resource Shortage</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>The successful operation of Suncor's businesses and our ability to expand operations will depend upon the availability of, and competition for, skilled labour
and materials supply. There is a risk that we may have difficulty sourcing the required labour for current and future operations. The risk could manifest itself primarily through an inability to
recruit new staff without a dilution of talent, to train, develop and retain high quality and experienced staff without unacceptably high attrition, and to satisfy an employee's work/life balance and
desire for competitive compensation. The labour market in Alberta is particularly tight due to the growth of the oil sands industry and higher crude oil prices. The increasing age of our existing
workforce adds further pressure to this situation. Materials may also be in short supply due to smaller labour forces in many manufacturing operations. Our ability to operate safely and effectively
and complete all our projects on time and on budget has the potential to be significantly impacted by these&nbsp;risks. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Change Capacity</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>In order to achieve Suncor's business objectives, the company must operate efficiently, reliably and safely, and, at the same time, deliver growth and sustaining
projects safely, on budget and on schedule. The ability to balance these two sets of objectives is critically important to Suncor to deliver value to shareholders and stakeholders. These objectives
demand a large number of improvement initiatives that compete for resources, and may negatively impact the company should there be inadequate screening of project requests or consideration of the
cumulative impacts of prior and parallel initiatives on people, processes and systems. There is a risk that these objectives may exceed Suncor's capacity to adopt and implement change. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Cost Management</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Production from oil sands through mining, upgrading and in situ recovery is, relative to most major conventional hydrocarbon reserves, a higher cost resource to
develop and produce. There is also a perception among many stakeholders that the oil sands industry, including Suncor, has little ability to control costs. Suncor is exposed to the risks of growing or
uncontrollable operating costs, which could reduce profitability and cash flow that might otherwise be directed towards growth or dividends, and major project capital costs, which could constrain
Suncor's ability to execute high quality projects that deliver lower operating costs. Factors contributing to these risks include, but are not limited to, the skills and resource shortage, the
long-term success of existing and new in situ technologies, and the geology and reserves characterization of in situ reserves that can lead to higher steam-to-oil ratios and lower
production. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Other Risk Factors</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>A detailed discussion of additional risk factors is presented in our most recent Annual Information Form/Form&nbsp;40-F, filed with securities
regulators. </FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>69</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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 </B></FONT><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>12. OTHER ITEMS</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>CONTROL ENVIRONMENT</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Based
on their evaluation as of December&nbsp;31, 2011, Suncor's chief executive officer and chief financial officer concluded that the company's disclosure controls and procedures
(as&nbsp;defined in Rules&nbsp;13a-15(e) and&nbsp;15d-15(e) under the United&nbsp;States Securities Exchange Act of 1934 (the&nbsp;Exchange Act)) are effective to
ensure that information required to be disclosed by the company in reports that are filed or submitted to Canadian and U.S.&nbsp;securities authorities is recorded, processed, summarized and
reported within the time periods specified in Canadian and U.S.&nbsp;securities laws. In addition, as of December&nbsp;31, 2011, there were no changes in the internal control over financial
reporting (as&nbsp;defined in Exchange Act Rules&nbsp;13a-15(f) to&nbsp;15d-15(f)) that occurred during 2011 that have materially affected, or are reasonably likely to
materially affect, the company's internal control over financial reporting. Management will continue to periodically evaluate the company's disclosure controls and procedures and internal control over
financial reporting and will make any modifications from time to time as deemed necessary. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>As
a result of past unrest in Libya and current events in Syria, Suncor is not able to monitor the status of all of its facilities, including whether certain facilities have suffered damages. Suncor
has assessed and is continually monitoring the control environment in these countries and does not consider the changes to have a material impact on the company's overall internal control over
financial reporting. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
effectiveness of our internal control over financial reporting as at December&nbsp;31, 2011 was audited by PricewaterhouseCoopers&nbsp;LLP, an independent registered public accounting firm, as
stated in their report, which is included in our audited Consolidated Financial Statements for the year ended December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Based
on their inherent limitations, disclosure controls and procedures and internal control over financial reporting may not prevent or detect misstatements, and even those controls determined to be
effective can provide only reasonable assurance with respect to financial statement preparation and presentation. </FONT></P>


<P style="font-family:;"><FONT SIZE=2><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=2><B>CORPORATE GUIDANCE</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Detailed guidance on the company's outlook for 2012 production, capital expenditures and other items can be found in Suncor's 2011 Annual Report, available on
www.sedar.com, and Suncor's corporate guidance available on its website at www.suncor.com/guidance. </FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>70</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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 </B></FONT><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>13. NON-GAAP FINANCIAL MEASURES ADVISORY</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Certain financial measures in this MD&amp;A&nbsp;&#150;&nbsp;namely operating earnings, cash flow from operations, ROCE and Oil Sands cash
operating costs&nbsp;&#150;&nbsp;are not prescribed by GAAP. These non-GAAP financial measures do not have any standardized meaning and, therefore, are unlikely to
be comparable to similar measures presented by other companies. These non-GAAP financial measures are included because management uses the information to analyze operating performance,
leverage and liquidity. Therefore, these non-GAAP financial measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance
with&nbsp;GAAP. </FONT></P>

<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Operating Earnings</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Operating earnings is a non-GAAP financial measure that adjusts net earnings for significant items that are not indicative of operating performance.
Management uses operating earnings to evaluate operating performance because management believes it provides better comparability between periods. All reconciling items are presented on an
after-tax basis. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>Prior
period operating earnings have been restated in this MD&amp;A. In the first quarter of 2011, three operating earnings
adjustments&nbsp;&#150;&nbsp;mark-to-market valuation of stock-based compensation, project start-up costs and costs related to the deferral
of growth projects&nbsp;&#150;&nbsp;were eliminated from the operating earnings reconciliation due to their relatively minor impact on operating earnings, except for the
after-tax impact of $299&nbsp;million for costs related to the deferral of growth projects in the Oil Sands segment, which was not eliminated from 2009 operating earnings as an operating
earnings adjustment. Less significant individual gains and losses on disposals were also removed from operating earnings reconciling items reported in 2010. Finally, adjustments to net earnings for
the transition to IFRS also had an impact on operating earnings and existing operating earnings adjustments. </FONT></P>

<P style="font-family:;"><FONT SIZE=2>The
following is a reconciliation of operating earnings as reported in Suncor's MD&amp;A dated February&nbsp;24, 2011 to operating earnings as reported in this&nbsp;MD&amp;A: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Corporate<BR>
Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="7%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=25 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Operating earnings (loss), as previously reported&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;535</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;116</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;124</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>171</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>782</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>473</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(709</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(480</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;732</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;280</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Removal of operating earnings adjustments:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Mark-to-market valuation of stock-based compensation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(31</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(28</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(23</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(21</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(30</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(17</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(19</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(58</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(103</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(124</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(Loss) gain on significant disposals</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(4</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>26</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Project start-up costs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(55</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(58</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(40</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Costs related to deferral of growth projects</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(94</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(94</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>IFRS adjustments:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>28</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>218</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>258</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating earnings reconciling items:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(85</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(85</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="22%" style="font-family:;"><FONT SIZE=1>Gain on significant disposals</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(38</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(38</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=25 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1><B>Operating earnings (loss), as restated in this MD&amp;A</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;379</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;048</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;193</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>150</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>796</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>455</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(734</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="4%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(538</B></FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;634</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;115</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=25 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Operating
earnings (loss) includes amounts classified as discontinued operations in 2010 under Previous&nbsp;GAAP. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>71</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=55,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=650030,FOLIO='71',FILE='DISK135:[12ZAL1.12ZAL70001]EA70001A.;24',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ea70001_1_72"> </A>

<P style="font-family:;"><FONT SIZE=2>The following is a reconciliation of net earnings to operating earnings for Suncor's last five years of operations. Operating earnings for 2007 to 2009 are
reported under Previous GAAP and have been adjusted from operating earnings previously reported for the removal of project start-up costs and mark-to-market
valuation of stock-based compensation. </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2008</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2007</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1><B>Net earnings as reported</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;137</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;983</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term&nbsp;debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>161</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(798</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>852</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(215</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Impairments and write-offs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>629</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>306</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>42</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Impact of income tax rate adjustments on deferred income&nbsp;taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>442</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(427</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Loss (gain) on significant disposals</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>107</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(826</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Adjustments to provisions for assets acquired through the&nbsp;merger</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>68</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>97</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Change in fair value of commodity derivatives used for risk management, net of&nbsp;realizations</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(233</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>499</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Redetermination of working interests in Terra&nbsp;Nova</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(166</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Modification of the bitumen valuation methodology</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(51</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>50</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Merger and integration costs</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>79</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>151</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Gain on effective settlement of pre-existing contract with Petro-Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(438</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1>Costs related to deferral of growth projects</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>299</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="41%" style="font-family:;"><FONT SIZE=1><B>Operating earnings</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;674</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;634</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;115</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;617</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;341</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=13 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
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<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Return on Capital Employed
(ROCE)</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>ROCE is a non-GAAP financial measure that management uses to analyze operating performance and the efficiency of Suncor's capital allocation process.
The following is a reconciliation of ROCE for Suncor's last five years of operations. ROCE for 2007 to 2009 are reported under Previous&nbsp;GAAP. </FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31<BR>
($&nbsp;millions, except as noted)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2008</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2007</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Adjustments to net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;137</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;983</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Add after-tax amounts for:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1> Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>161</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(372</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(798</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>852</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(215</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="28%" style="font-family:;"><FONT SIZE=1>Net interest expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>83</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>327</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>289</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>36</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;548</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;784</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>637</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;989</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;804</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=5 style="font-family:;"><FONT SIZE=1> Capital employed&nbsp;&#150;&nbsp;beginning of twelve-month period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>11&nbsp;254</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;516</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;226</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;248</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;849</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>35&nbsp;192</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>32&nbsp;485</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;523</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;896</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>9&nbsp;084</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>D</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>46&nbsp;446</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;001</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;749</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;144</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;933</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=5 style="font-family:;"><FONT SIZE=1> Capital employed&nbsp;&#150;&nbsp;end of twelve-month period</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net debt</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>6&nbsp;976</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;254</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;377</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>7&nbsp;226</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;248</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Shareholders' equity</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>38&nbsp;600</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;192</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34&nbsp;111</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14&nbsp;523</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11&nbsp;896</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>45&nbsp;576</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;446</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>47&nbsp;488</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21&nbsp;749</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>15&nbsp;144</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Average capital employed&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>B</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>44&nbsp;956</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>46&nbsp;075</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35&nbsp;128</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>18&nbsp;447</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>13&nbsp;039</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>ROCE&nbsp;&#150;&nbsp;including major projects in progress (%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A/B</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>10.1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>8.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1.8</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16.2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>21.5</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>Average capitalized costs related to major projects in progress</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>C</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>12&nbsp;106</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>12&nbsp;890</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>10&nbsp;655</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;149</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;454</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 style="font-family:;"><FONT SIZE=1>ROCE&nbsp;&#150;&nbsp;excluding major projects in progress (%)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>A/(B-C)</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>13.8</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11.4</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2.6</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>22.5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29.3</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=17 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>For
2009 to 2011, average capital employed is calculated as a thirteen-month average of the capital employed balance at the beginning of the twelve-month period and the
month-end capital employed balances throughout the remainder of the twelve-month period. For 2007 and 2008, average capital employed is calculated on the basis of a simple average (B+D)/2.
This change in calculation was made as a result of the significant capital employed acquired in the merger with Petro-Canada in 2009. Figures for capital employed at the beginning and end of the
twelve-month period are presented to show the changes in the components of the calculation over the twelve-month period. </FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=1><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>72</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=56,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=808469,FOLIO='72',FILE='DISK135:[12ZAL1.12ZAL70001]EA70001A.;24',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ea70001_1_73"> </A>

<P style="font-family:;"><FONT SIZE=2><B>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


 </B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Cash Flow from Operations</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Cash flow from operations is a non-GAAP financial measure that adjusts a GAAP measure&nbsp;&#150;&nbsp;Cash flow provided by
operating activities&nbsp;&#150;&nbsp;for changes in non-cash working capital, which management uses to analyze operating performance and liquidity. Changes to
non-cash working capital can include, among other factors, fluctuations for the timing or payment of risk management positions, offshore feedstock purchases, and fuel and income taxes,
which management believes reduces comparability between periods. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Oil Sands</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Exploration and Production</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Refining and Marketing</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings (loss)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;603</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;520</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>557</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>306</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;938</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>78</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;726</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>819</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>407</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Adjustments for:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and&nbsp;impairment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;374</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;310</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>922</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;035</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;978</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;032</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>444</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>440</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>317</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>895</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>487</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(643</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>354</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>196</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(96</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>494</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>269</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>99</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Accretion of liabilities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>85</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>130</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>111</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>69</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>103</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>43</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange (gain) loss on U.S.&nbsp;dollar denominated long-term&nbsp;debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Change in fair value of derivative contracts</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(316</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>960</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(14</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>122</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>14</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>70</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>31</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(998</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(20</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(16</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(30</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>16</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Share-based compensation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(35</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>55</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>90</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(4</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>24</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(21</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Exploration expense</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>183</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Gain on effective settlement of pre-existing contract with Petro-Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(438</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="27%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(472</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(423</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(378</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>27</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(12</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>29</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(59</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>60</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cash flow from (used in) operations</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;572</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;777</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;251</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;846</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;325</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;280</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2&nbsp;574</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;538</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>921</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(Increase) decrease in non-cash working capital</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(676</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(890</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(202</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>398</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(320</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(78</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>600</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(260</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(270</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow provided by (used in) operating activities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;896</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;887</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;049</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;244</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;005</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;202</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;174</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;278</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>651</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="75%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="100%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Corporate, Energy Trading and Eliminations</FONT></TD>
<TD WIDTH="4%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=5 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Total</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Year ended December&nbsp;31 ($&nbsp;millions)&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


<!-- COMMAND=ADD_TXTHEX,"PMS294" -->


</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Net earnings (loss)</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(331</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(448</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>104</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;304</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;829</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;146</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Adjustments for:</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Depreciation, depletion, amortization and&nbsp;impairment</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>99</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>75</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>35</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>3&nbsp;952</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;803</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;306</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Deferred income taxes</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(99</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(201</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(85</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>1&nbsp;644</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>751</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(725</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Accretion of liabilities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>157</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>235</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>155</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Unrealized foreign exchange loss (gain) on U.S.&nbsp;dollar denominated long-term debt</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>183</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(426</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(858</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>183</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(426</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(858</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Change in fair value of derivative contracts</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(43</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>31</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>34</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(40</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(285</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>980</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Loss (gain) on disposal of assets</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(1</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>39</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>136</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(975</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>66</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Share-based compensation</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(42</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(5</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>106</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(102</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>113</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>262</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Exploration expense</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>28</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>96</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>183</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Gain on effective settlement of pre-existing contract with Petro-Canada</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>&#151;</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&#151;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(438</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="30%" style="font-family:;"><FONT SIZE=1>Other</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(12</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(49</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>11</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(516</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(485</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(278</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Cash flow from (used in) operations</B></FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(246</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(984</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(653</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;746</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;656</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;799</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>(Increase) decrease in non-cash working capital</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(80</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>300</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>326</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>242</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(1&nbsp;170</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(224</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


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</FONT>
<HR NOSHADE COLOR="#09357A"></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Cash flow provided by (used in) operating activities</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(326</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(684</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(327</FONT></TD>
<TD WIDTH="4%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;988</B></FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;486</FONT></TD>
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=22 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A. </FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>73</B></FONT></P>

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<P style='font-family:;page-break-before:always'></p>

<!-- ZEQ.=3,SEQ=57,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=628145,FOLIO='73',FILE='DISK135:[12ZAL1.12ZAL70001]EA70001A.;24',USER='JDAY',CD='29-FEB-2012;16:44' -->
<A NAME="page_ea70001_1_74"> </A>

<P style="font-family:;"><FONT SIZE=2>The following is a reconciliation of cash flow from operations for Suncor's last five years of operations. Cash flow from operations for 2007 to 2009 is reported
under Previous&nbsp;GAAP. </FONT></P>

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<TR VALIGN="BOTTOM">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2008</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2007</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
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<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<TR VALIGN="BOTTOM">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Cash flow provided by operating activities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;988</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>5&nbsp;486</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;575</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;462</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;893</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>(Decrease) increase in non-cash working capital</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(242</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>1&nbsp;170</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>224</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(405</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>144</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<TR VALIGN="BOTTOM">
<TD WIDTH="37%" style="font-family:;"><FONT SIZE=1>Cash flow from operations</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>9&nbsp;746</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>6&nbsp;656</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>2&nbsp;799</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;057</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;037</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=12 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=2><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B><U>Oil Sands Cash Operating Costs</U></B></FONT></P>

<P style="font-family:;"><FONT SIZE=2>Oil Sands cash operating costs and cash operating costs per barrel are non-GAAP financial measures that adjust operating, selling and general expense
for significant items that do not reflect production costs for Oil Sands that are within the company's control or that do not directly affect routine production activities. Management uses cash
operating costs to evaluate operating performance because management believes it provides better comparability between periods. </FONT></P>

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<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>($&nbsp;millions)</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1><B>2011</B></FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2010</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>2009</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>



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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Operating, selling and general expense&nbsp;<SUP>(1)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>5&nbsp;169</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;537</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;277</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Less: Syncrude-related operating expenses</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(529</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(473</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(199</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Less: Other non-production costs&nbsp;<SUP>(2)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>(299</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1><B>)</B></FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(201</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(517</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="58%" style="font-family:;"><FONT SIZE=1>Other adjustments&nbsp;<SUP>(3)</SUP></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>138</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>127</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands cash operating costs</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>4&nbsp;479</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;990</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;599</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands cash operating costs ($/bbl)</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1><B>40.20</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>33.95</FONT></TD>
<TD WIDTH="1%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=10 style="font-family:;"><FONT SIZE=1>


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<DL compact>
<DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(1)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>2009
data is prepared under Previous GAAP. See the Advisories&nbsp;&#150;&nbsp;Basis of Presentation section of this&nbsp;MD&amp;A.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(2)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Significant
non-production costs include, but are not limited to, share-based compensation adjustments, costs related to the remobilization and deferral of growth
projects, and the expense recognized as part of a non-monetary arrangement involving a third-party processor.
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-9pt;'><FONT SIZE=1>(3)</FONT></DT><DD style="font-family:;"><FONT SIZE=1>Other
adjustments include the effects of changes in inventory valuation, the accretion of liabilities for reclamation and restoration provisions, and the cost of purchased diluent. </FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=2>Cash operating costs have also been restated for the transition to IFRS. The following table reconciles amounts previously reported to those presented in
this&nbsp;MD&amp;A: </FONT></P>

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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD COLSPAN=3 ALIGN="CENTER" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>Year ended<BR>
December&nbsp;31, 2010</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>$&nbsp;millions</FONT></TD>
<TD WIDTH="3%" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:;"><FONT SIZE=1>$/bbl</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>Oil Sands cash operating costs, as previously reported</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>4&nbsp;012</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.85</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1>IFRS adjustments:</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Accretion of liabilities</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(16</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%" style="font-family:;"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="70%" style="font-family:;"><FONT SIZE=1>Operating, selling and general expense</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>(6</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>)</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<TD COLSPAN=2 style="font-family:;"><FONT SIZE=1><B>Oil Sands cash operating costs, as restated in this MD&amp;A</B></FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>3&nbsp;990</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>38.65</FONT></TD>
<TD WIDTH="3%" style="font-family:;"><FONT SIZE=1>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7 style="font-family:;"><FONT SIZE=1>


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<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>74</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=58,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="3",CHK=626273,FOLIO='74',FILE='DISK135:[12ZAL1.12ZAL70001]EA70001A.;24',USER='JDAY',CD='29-FEB-2012;16:44' -->
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<P style="font-family:;"><FONT SIZE=2><A
NAME="page_ec70001_1_75"> </A> </FONT> <FONT SIZE=6><B>


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


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</B></FONT><FONT COLOR="#09357A" SIZE=2><B>14. ADVISORY&nbsp;&#150;&nbsp;FORWARD-LOOKING
INFORMATION</B></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>This MD&amp;A contains certain forward-looking statements and other information based on Suncor's current expectations, estimates, projections and assumptions that were made by the
company in light of information available at the time the statement was made and consider Suncor's experience and its perception of historical trends, including expectations and assumptions
concerning: the accuracy of reserves and resources estimates; commodity prices and interest and foreign exchange rates; capital efficiencies and cost-savings; applicable royalty rates and
tax laws; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely
manner, of regulatory and third-party approvals. In addition, all other statements and other information that address expectations or projections about the future, and other statements and information
about Suncor's strategy for growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial results, future financing
and capital activities, and the expected impact of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identified by words like "expects",
"anticipates", "estimates", "plans", "scheduled", "intends", "believes", "projects", "indicates", "could", "focus", "vision", "goal", "outlook", "proposed", "target", "objective", "continue" and
similar expressions.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Forward-looking statements in this MD&amp;A include references to:  </I></FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Suncor's expectations about production volumes and the performance of its existing assets, including:</I></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Lower bitumen ore grade quality at the Millennium mine face will impact operations until the start of the fourth quarter of
2012, at which point the bitumen ore grade quality is expected to return to previous levels;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>New wells coming on-stream at MacKay River in the fourth quarter of 2011 and throughout 2012, combined with
well workovers, will offset natural declines from existing well pairs;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Significant incremental or sustained production from the HSEU will not occur until further development drilling and subsea
infrastructure comes on-stream, which is expected by&nbsp;2014;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The continuation of the ramp up of bitumen production from the NSE, and that the NSE will improve productivity of overall
mining operations and decrease operating costs by alleviating congestion in the Millennium mining area and reducing average haul distances;&nbsp;and</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>If regulatory approval is obtained to increase the NSE project area, Suncor's expectation that the expanded area will
provide additional recoverable bitumen.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>The anticipated duration and impact of planned maintenance events, including:  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>


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</I></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The event scheduled for the second quarter of 2012 at Oil Sands Base, when the company expects to shut down one coker unit
at Upgrader&nbsp;1;


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 </I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The event scheduled for the third quarter of 2012 at Oil Sands Base, when the company expects to complete maintenance on
the vacuum tower and shut down one coker unit at Upgrader 2;


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</I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that it will complete maintenance on secondary upgrading units at both Upgrader&nbsp;1 and
Upgrader&nbsp;2 during 2012;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The 21-week dockside maintenance program planned for Terra Nova in 2012 in the second half of 2012, during
which the company plans to replace the FPSO water injection swivel and complete the replacement of subsea infrastructure anticipated to remediate H<SUB>2</SUB>S issues, and that the company expects a
return to the field with resumption of production prior to the end of&nbsp;2012;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The 18-week off-station maintenance program for White Rose that is scheduled to commence during the
second quarter of 2012, primarily to address issues with the FPSO propulsion system;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Events scheduled to occur at Hibernia and Buzzard in the third quarter of 2012;



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 </I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectation that there will be no production from Terra Nova during its dockside maintenance program and no
production from White Rose during its off-station maintenance program, and that effective execution of these programs will set the company up for continued success;
and</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Outages planned for 2012 at the company's refineries, including crude unit maintenance at the Sarnia and Commerce City
refineries and minor secondary process unit maintenance at all four refineries.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Suncor's expectations about where future capital expenditures will be directed, the timing for completion of growth and other significant projects, and the results of such
projects, including:</I></FONT></P>

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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The project to reduce benzene content in gasoline production at the Commerce City refinery is expected to be completed by
the second quarter of 2012;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Cost estimates and target completion dates provided in the Significant Growth Projects
Update&nbsp;table;</I></FONT></DD></DL>
<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>75</B></FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that it will commission the Firebag Stage&nbsp;3 cogeneration units in the first quarter
of&nbsp;2012;


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</I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Initial bitumen production from the second and third well pads for the Firebag Stage&nbsp;3 expansion is expected in the
first half of&nbsp;2012, and the ramp up of production from the Firebag Stage&nbsp;3 expansion is expected to continue throughout 2012 and reach peak production levels during the second half
of&nbsp;2013;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Planned capacity for facilities at each of the Firebag Stage&nbsp;3 and Stage&nbsp;4 expansions is 62,500&nbsp;bbls/d
of bitumen and that Stage&nbsp;4 will add equivalent barrels of production to Stage&nbsp;3;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations for the Firebag Stage&nbsp;4 expansion that in 2012 it will continue construction of well pads,
central processing facilities and cogeneration units, and initiate steaming of the first well pad in the fourth quarter of&nbsp;2012 so that first oil can be achieved late in the first quarter
of&nbsp;2013;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that the hydrotreater portion of the MNU will start up in 2012, commissioning of the MNU hydrogen
plant will be completed by the middle of 2012, and that the MNU will improve the reliability and availability of Suncor's upgrading facilities;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that the Golden Eagle Area Development will include stand-alone facilities designed for
70,000&nbsp;boe/d of gross production, and that 2012 capital expenditure activity in 2012 will focus on construction and fabrication of topsides and the jacket for
the&nbsp;GBS;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's plans to construct more tailings drying facilities and expectations that it will complete the
TRO<SUB>TM</SUB> infrastructure project by the fourth quarter of&nbsp;2012;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Other capital spending for Oil Sands Base is expected to focus on sustaining capital investments, which maintain production
capacities at existing facilities, and include costs for planned maintenance events, catalyst, truck and shovel replacement, and the replacements for utilities, roads and other
facilities;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>In situ capital spending is expected to focus on continuing to build well pads at Firebag and MacKay River and continuing
the infill well program at&nbsp;Firebag;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's plan to present to Suncor's Board of Directors for sanctioning the budget for the combined development of the
Voyageur upgrader, Fort Hills and Joslyn projects in&nbsp;2013;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that capital spending in 2012 for the Voyageur upgrader project will focus primarily on validating
project scope, developing the project execution plan, engineering and progressing site preparation;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that capital spending in 2012 for the Fort Hills project will focus primarily on progressing design
basis memorandum engineering and site preparation, and procuring long-lead items;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that capital spending in 2012 for the Joslyn project will focus on further design work, progressing
front-end engineering and site preparation;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Capital expenditures in 2012 for Syncrude will focus on the mine train replacement for the Mildred Lake mine, the mine
train relocation at the Aurora mine and sustaining maintenance initiatives;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that the second pilot well for water injection support in the White Rose Extensions will be completed
in the second quarter of 2012 and that results from the pilot project, along with ongoing evaluations, will help define the scope of future development for the West White
Rose&nbsp;field;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations for the Hebron project that front-end engineering will be finalized, detailed design
will commence and major construction contracts will be awarded, and that it will receive a regulatory approval decision in 2012, followed by a sanction decision by joint venture
owners;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>For 2012, the company's expectations that it will commence drilling an exploration well for the Romeo joint venture
prospect in the U.K. portion of the North Sea and participate in a non-operated exploration well in the Norway portion of the North&nbsp;Sea;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's expectations that other capital expenditures for East Coast Canada operations will focus on development drilling
for Terra Nova, Hibernia and White Rose, the water injection swivel replacement for the FPSO and H<SUB>2</SUB>S remediation activity at Terra Nova, the propulsion system maintenance for the White
Rose FPSO, and the procurement of subsea equipment for the development of the&nbsp;HSEU;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations that it will commence the drilling of an appraisal well in its Beta discovery in the first
quarter of 2012 and that it will participate in an exploration well offshore Norway;&nbsp;and</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>For North America Onshore operations, the company's plans to continue exploration in the Cardium oil formation and
Montney&nbsp;shale gas formation.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Other elements of Suncor's strategy and operational update for 2012, including:  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>


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</I></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The expectation that Oil Sands operational excellence initiatives will continuously improve plant utilization and workforce
productivity;


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 </I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's portfolio of in situ technology projects, which is expected to drive improvements and efficiencies  </I></FONT></DD></DL>


<P style="font-family:;"><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>76</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

<HR NOSHADE>
<P style='font-family:;page-break-before:always'></p>
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<P style="font-family:;"><FONT SIZE=2><I> in current production and develop future opportunities, and the focus of this portfolio on subsurface and surface challenges;</I></FONT><FONT SIZE=2>



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<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations that the development of the Golden Eagle, HSEU, White Rose Extensions and Hebron will be an
attractive opportunity to provide low-cost production and generate future cash flow;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>That North America Onshore operations will direct attention to cost reduction while pursuing unconventional and
liquids-rich plays;</I></FONT><FONT SIZE=2>



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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Expectations that Refining and Marketing will continue to focus on the safety and reliability of its operations, leverage
the company's strong brand to increase non-petroleum revenues through our network of convenience stores and car washes, and expand the lubricants product
offering;&nbsp;and</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The Energy Trading business will optimize capacities associated with existing arrangements for pipeline and storage
capacity, and optimize existing and future production.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Also:  </I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>


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</I></FONT></P>

<DL compact>
<DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#09357A" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's assessment of the situation in Syria, including its determination of the net recoverable value of net assets in
Syria that did not indicate than an impairment charge is required at this time, Suncor's expectations about recovering its share of any production during the period of force majeure, if force majeure
is lifted, and Suncor's belief that it is entitled to certain receivables;


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</I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's optimism about a gradual return to full operations in Libya and its assessment of the situation in Libya,
including the impairment of net assets, the status of physical assets, and sustainability of production rates;


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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Management's belief that Suncor will have the capital resources to fund its planned 2012 capital spending program of
$7.5&nbsp;billion and to meet current and long-term working capital requirements, and that, if additional capital is required, adequate additional financing will be available to Suncor
in the debt capital markets at commercial terms and&nbsp;rates;</I></FONT><FONT SIZE=2>



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<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Management's belief that a phased and flexible approach to existing and future growth projects should assist Suncor in
maintaining its ability to manage project costs and debt levels;</I></FONT><FONT SIZE=2>


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</FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company plans to maintain access to short-term commercial paper borrowing at competitive
interest&nbsp;rates by keeping short-term debt at existing levels;</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Steve Williams assuming the role of CEO in May&nbsp;2012;


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</I></FONT><FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>The company's expectations that the maximum weighted average term to maturity of its short-term investment
portfolio will not exceed six months, and that all investments will be with counterparties with investment grade debt ratings;&nbsp;and</I></FONT><FONT SIZE=2>


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</FONT> <FONT COLOR="#09357A" SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:;margin-bottom:-11pt;'><FONT COLOR="#0035CA" SIZE=2>&#149;</FONT></DT><DD style="font-family:;"><FONT SIZE=2><I>Suncor's assessment of the impact of Bill C-13, which expects that, in future years, the legislation will
decrease cash flow from operations by accelerating the payment of cash income taxes, but will not have a significant impact on net&nbsp;earnings.</I></FONT></DD></DL>

<P style="font-family:;"><FONT SIZE=2><I>Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas
companies and some that are unique to Suncor. Suncor's actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place
undue reliance on&nbsp;them.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>The financial and operating performance of the company's reportable operating segments, specifically Oil Sands, Exploration and Production, and Refining and Marketing, may be
affected by a number of&nbsp;factors.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Oil Sands segment include, but are not limited to, volatility in the prices for crude oil and other production, and the related impacts of fluctuating
light/heavy and sweet/sour crude oil differentials; changes in the demand for refinery feedstock and diesel fuel, including the possibility that refiners that process our proprietary production will
be closed, experience equipment failure or other accidents; our ability to operate our oil sands facilities reliably in order to meet production targets; the output of newly commissioned facilities,
the performance of which may be difficult to predict during initial operations; the possibility that completed maintenance activities may not improve operational performance or the output of related
facilities; our dependence on pipeline capacity and other logistical constraints, which may affect our ability to distribute our products to market; our ability to finance oil sands growth and
sustaining capital expenditures; the availability of bitumen feedstock for upgrading operations, which can be negatively affected by poor ore grade quality, unplanned mine equipment and extraction
plant maintenance, tailings storage, in situ reservoir and equipment performance, or the unavailability of third-party bitumen; inflationary pressures on operating costs, including labour, natural gas
and other energy sources in oil sands processes; our ability to complete projects, including planned maintenance events, both on time and on budget, which could be impacted by competition from other
projects (including other oil sands projects) for goods and services and demands on infrastructure in Fort McMurray and the surrounding area (including housing, roads and schools); risks and
uncertainties associated with obtaining regulatory and stakeholder approval for exploration and development activities; changes to royalty and tax legislation and related agreements that could impact
our business, such as our  </I></FONT></P>

<P ALIGN="RIGHT" style="font-family:;"><FONT SIZE=1>SUNCOR ENERGY INC.</FONT> <FONT SIZE=1><B>



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 </B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL
REPORT </FONT><FONT SIZE=1><B>


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<P style="font-family:;"><FONT SIZE=2><I> current dispute with the Alberta Department of Energy in respect of the Bitumen Valuation Methodology Regulation; the potential for disruptions to operations and construction projects as a result of
our relationships with labour unions that represent employees at our facilities; and changes to environmental regulations or&nbsp;legislation.</I></FONT></P>


<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Exploration and Production segment include, but are not limited to, volatility in crude oil and natural gas prices; operational risks and uncertainties
associated with oil and gas activities, including unexpected formations or pressures, premature declines of reservoirs, fires, blow-outs, equipment failures and other accidents,
uncontrollable flows of crude oil, natural gas or well fluids, and pollution and other environmental risks; the possibility that completed maintenance activities may not improve operational
performance or the output of related facilities; adverse weather conditions, which could disrupt output from producing assets or impact drilling programs, resulting in increased costs and/or delays in
bringing on new production; political, economic and socio-economic risks associated with Suncor's foreign operations, including the unpredictability of operating in Libya and the possibility that
operations in Syria continue to be impacted by sanctions or political unrest; risks and uncertainties associated with obtaining regulatory and stakeholder approval for exploration and development
activities; the potential for disruptions to operations and construction projects as
a result of our relationships with labour unions that represent employees at our facilities; and market demand for mineral rights and producing properties, potentially leading to losses on disposition
or increased property acquisition costs.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Factors that affect our Refining and Marketing segment include, but are not limited to, fluctuations in demand and supply for refined products that impact the company's margins;
market competition, including potential new market entrants; our ability to reliably operate refining and marketing facilities in order to meet production or sales targets; the possibility that
completed maintenance activities may not improve operational performance or the output of related facilities; risks and uncertainties affecting construction or planned maintenance schedules, including
the availability of labour and other impacts of competing projects drawing on the same resources during the same time period; and the potential for disruptions to operations and construction projects
as a result of our relationships with labour unions or employee associations that represent employees at our refineries and distribution facilities.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Additional risks, uncertainties and other factors that could influence financial and operating performance of all of Suncor's operating segments and activities include, but are
not limited to, changes in general economic, market and business conditions, such as commodity prices, interest rates and currency exchange rates; fluctuations in supply and demand for Suncor's
products; the successful and timely implementation of capital projects, including growth projects and regulatory projects; competitive actions of other companies, including increased competition from
other oil and gas companies or from companies that provide alternative sources of energy; labour and material shortages; actions by government authorities, including the imposition of taxes or changes
to fees and royalties, and changes in environmental and other regulations; the ability and willingness of parties with whom we have material relationships to perform their obligations to us; the
occurrence of unexpected events such as fires, equipment failures and other similar events affecting Suncor or other parties whose operations or assets directly or indirectly affect Suncor; the
potential for security breaches of Suncor's information systems by computer hackers or cyberterrorists, and the unavailability or failure of such systems to perform as anticipated as a result of such
breaches; our ability to find new oil and gas reserves that can be developed economically; the accuracy of Suncor's reserves, resources and future production estimates; market instability affecting
Suncor's ability to borrow in the capital debt markets at acceptable rates; maintaining an optimal debt to cash flow ratio; the success of the company's risk management activities using derivatives
and other financial instruments; the cost of compliance with current and future environmental laws; risks and uncertainties associated with closing a transaction for the purchase or sale of an oil and
gas property, including estimates of the final consideration to be paid or received, the ability of counterparties to comply with their obligations in a timely manner and the receipt of any required
regulatory or other third-party approvals outside of Suncor's control that are customary to transactions of this nature; the accuracy of cost estimates, some of which are provided at the conceptual or
other preliminary stage of projects and prior to commencement or conception of the detailed engineering that is needed to reduce the margin of error and increase the level of accuracy; failure to
realize anticipated synergies or cost-savings; and incorrect assessments of the values of assets acquired and liabilities assumed in the merger with Petro-Canada. The foregoing important
factors are not&nbsp;exhaustive.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=2><I>Many of these risk factors and other assumptions related to Suncor's forward-looking statements and information are discussed in further detail throughout the MD&amp;A, including
under the heading Risk Factors, and the company's 2011 AIF dated March&nbsp;1, 2012 and Form&nbsp;40-F on file with Canadian securities commissions at www.sedar.com and the
United&nbsp;States Securities and Exchange Commission at www.sec.gov. Readers are also referred to the risk factors and assumptions described in other documents that Suncor files from time to time
with securities regulatory authorities. Copies of these documents are available without charge from the&nbsp;company.</I></FONT></P>

<P style="font-family:;"><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>78</B></FONT><FONT SIZE=1> SUNCOR
ENERGY INC. </FONT><FONT SIZE=1><B>


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</B></FONT><FONT COLOR="#09357A" SIZE=1><B>2011</B></FONT><FONT SIZE=1>&nbsp;</FONT><FONT SIZE=1>ANNUAL REPORT</FONT></P>

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<P><br><A NAME="12ZAL70301_3">QuickLinks</A><br></P><!-- TOC_BEGIN -->
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dk70301_1">EXHIBIT 99-2</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dk70301_2">Management's Discussion and Analysis for the fiscal year ended December 31, 2011, dated February 23, 2012</A></FONT><BR>
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<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-3    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="do70301_consent_of_pricewaterhousecoopers_llp"> </A>
<A NAME="toc_do70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Consent of PricewaterhouseCoopers&nbsp;LLP    <BR>    </B></FONT></P>

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<IMG SRC="g593080.jpg" ALT="LOGO" WIDTH="384" HEIGHT="42">
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<TH style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:times;"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> PricewaterhouseCoopers&nbsp;LLP<BR>
Chartered Accountants</B></FONT><FONT SIZE=2><BR>
111 5th&nbsp;Avenue SW, Suite&nbsp;3100<BR>
Calgary, Alberta<BR>
Canada T2P&nbsp;5L3<BR>
Telephone +1 (403)&nbsp;509 7500<BR>
Facsimile +1 (403)&nbsp;781 1825<BR></FONT>
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 <P style="font-family:times;"><FONT SIZE=2><U>CONSENT
OF INDEPENDENT AUDITOR</U> </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>We
hereby consent to inclusion in this Annual Report on Form&nbsp;40-F for the year ended December&nbsp;31, 2011 and the incorporation by reference in the registration statements on
Form&nbsp;S-8 (File No.&nbsp;333-87604), Form&nbsp;S-8 (File No.&nbsp;333-112234), Form&nbsp;S-8 (File
No.&nbsp;333-118648), Form&nbsp;S-8 (File No.&nbsp;333-124415), Form&nbsp;S-8 (File No.&nbsp;333-149532),
Form&nbsp;S-8 (File No.&nbsp;333-161021) and Form&nbsp;S-8 (File No.&nbsp;333-161029), of Suncor Energy&nbsp;Inc., of our report dated
February&nbsp;23, 2012 relating to the consolidated financial statements and the effectiveness of internal control over financial reporting, which appears in the Annual&nbsp;Report. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>We
also consent to reference to us under the heading "Interests of Experts" in the Annual Information Form incorporated by reference in this Annual Report on Form&nbsp;40-F which is
incorporated by reference in the Registration Statements referred to&nbsp;above. </FONT></P>


<P style="font-family:times;"><FONT SIZE=2><B>"PricewaterhouseCoopers&nbsp;LLP"<BR>
Chartered Accountants<BR>
Calgary, Alberta<BR>
March&nbsp;1, 2012</B></FONT></P>

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<P><br><A NAME="12ZAL70301_4">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_do70301_1">EXHIBIT 99-3</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_do70301_2">Consent of PricewaterhouseCoopers LLP</A></FONT><BR>
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NAME="dq70301_exhibit_99-4"> </A>
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<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-4    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dq70301_consent_of_glj_petroleum_consultants_ltd."> </A>
<A NAME="toc_dq70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Consent of GLJ Petroleum Consultants&nbsp;Ltd.    <BR>    </B></FONT></P>

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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B>TO:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> Suncor Energy&nbsp;Inc.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> The Securities and Exchange Commission</B></FONT></TD>
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<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> The Securities Regulatory Authorities of Each of the Provinces of Canada</B></FONT></TD>
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 <P style="font-family:times;"><FONT SIZE=2>Dear
Sirs </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;<U>Suncor Energy&nbsp;Inc.</U></B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
refer to the following reports (the&nbsp;"Reports") prepared by GLJ Petroleum Consultants&nbsp;Ltd.&nbsp;("GLJ"): </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Reserves Assessment and Evaluation of In Situ Oil Sands Properties&nbsp;&#151;&nbsp;Corporate
Summary;&nbsp;and  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Reserves Evaluation and Resources Assessment of Oil Sands Mining
Properties&nbsp;&#151;&nbsp;Summary. </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>which
provide GLJ's reports on proved and probable reserves evaluations pursuant to Canadian disclosure requirements of Suncor Energy&nbsp;Inc.'s Canadian mining and in-situ leases that
were evaluated as at December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
hereby consent to the use of our name, reference to and excerpts from the said Reports by Suncor Energy&nbsp;Inc. in its Annual Report on Form&nbsp;40-F and&nbsp;the
incorporation by reference in the registration statements on Form&nbsp;S-8 (File No.&nbsp;333-87604), Form&nbsp;S-8 (File No.&nbsp;333-112234),
Form&nbsp;S-8 (File No.&nbsp;333-118648), Form&nbsp;S-8 (File No.&nbsp;333-124415), Form&nbsp;S-8 (File
No.&nbsp;333-149532), Form&nbsp;S-8 (File No.&nbsp;333-161021) and Form&nbsp;S-8 (File No.&nbsp;333-161029) of Suncor
Energy&nbsp;Inc., of our Reports. In addition, we also consent to the use of our name, reference to and excerpts from the said Reports in Suncor Energy&nbsp;Inc.'s 2011 annual report to be filed
with the securities regulatory authorities of each of the provinces of&nbsp;Canada. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have read Suncor Energy&nbsp;Inc.'s Annual Information Form dated March&nbsp;1, 2012 and the Form&nbsp;40-F dated March&nbsp;1, 2012 and have no reason to believe
that there are any
misrepresentations in the information contained therein that is derived from our Reports or that are within our knowledge as a result of the services which we performed in connection with the
preparation of the&nbsp;Reports. </FONT></P>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Yours truly,</FONT></TD>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B> GLJ PETROLEUM CONSULTANTS&nbsp;LTD.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>"GLJ PETROLEUM CONSULTANTS&nbsp;LTD."</FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Caralyn P. Bennett, P. Eng.<BR>
Vice-President, In Situ Oil Sands<BR></FONT>
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 <P style="font-family:times;"><FONT SIZE=2>Dated:
March&nbsp;1, 2012<BR>
Calgary, Alberta<BR>
CANADA </FONT></P>

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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq70301_2">Consent of GLJ Petroleum Consultants Ltd.</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dq70301_3">LETTER OF CONSENT</A></FONT><BR>
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<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-5    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ds70301_consent_of_sproule_associates___con02942"> </A>
<A NAME="toc_ds70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Consent of Sproule Associates Limited and Sproule International Limited    <BR>    </B></FONT></P>

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<A NAME="toc_ds70301_3"> </A>
<BR></FONT><FONT SIZE=2><B>  LETTER OF CONSENT    <BR>    </B></FONT></P>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B>TO:</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> Suncor Energy&nbsp;Inc.</B></FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> The Securities and Exchange Commission</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><B> The Securities Regulatory Authorities of Each of the Provinces of Canada</B></FONT></TD>
</TR>
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 <P style="font-family:times;"><FONT SIZE=2>Dear
Sirs: </FONT></P>

<P style="font-family:times;"><FONT SIZE=2><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;Suncor Energy&nbsp;Inc.  </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>We refer to the following reports (the&nbsp;"Reports") prepared by Sproule Associates Limited ("Sproule Associates") and Sproule International Limited ("Sproule
International"): </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluation of the P&amp;NG Reserves of Suncor Energy&nbsp;Inc. in the Newfoundland Offshore&nbsp;Areas; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluation of the P&amp;NG Reserves of Suncor Energy&nbsp;Inc. in the North America Onshore Properties; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluation of the P&amp;NG Reserves of Suncor Energy&nbsp;Inc., North Sea Properties;&nbsp;and  </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluation of the P&amp;NG Reserves of Suncor Energy&nbsp;Inc., Other International Properties </FONT></DD></DL>
</UL>

<P style="font-family:times;"><FONT SIZE=2>which
provide Sproule Associates' and Sproule International's reports on proved and probable reserves evaluations and reviews pursuant to Canadian disclosure requirements of Suncor
Energy&nbsp;Inc.'s Canadian onshore and offshore conventional assets and international operations that were evaluated as at December&nbsp;31,&nbsp;2011. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>We
each hereby consent to the use of our name, reference to and excerpts from the said Reports by Suncor Energy&nbsp;Inc. in its Annual Report on Form&nbsp;40-F and&nbsp;the
incorporation by reference in the registration statements on Form&nbsp;S-8 (File No.&nbsp;333-87604), Form&nbsp;S-8 (File No.&nbsp;333-112234),
Form&nbsp;S-8 (File No.&nbsp;333-118648), Form&nbsp;S-8 (File No.&nbsp;333-124415), Form&nbsp;S-8 (File
No.&nbsp;333-149532), Form&nbsp;S-8 (File No.&nbsp;333-161021) and Form&nbsp;S-8 (File No.&nbsp;333-161029) of Suncor
Energy&nbsp;Inc., of our Reports. In addition, we each also consent to the use of our name, reference to and excerpts from the said Reports in Suncor Energy&nbsp;Inc.'s 2011 annual report to be
filed with the securities regulatory authorities of each of the provinces of&nbsp;Canada. </FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
each have read Suncor Energy&nbsp;Inc.'s Annual Information Form dated March&nbsp;1, 2011 and the Form&nbsp;40-F dated March&nbsp;1, 2012 and have no reason to
believe that there are any misrepresentations in the information contained therein that is derived from our Reports or that are within our knowledge as a result of the services which we performed in
connection with the preparation of the&nbsp;Reports. </FONT></P>
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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><FONT SIZE=2>Sincerely,</FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B> Sproule Associates Limited and<BR>
Sproule International Limited</B></FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>"Sproule Associates Limited" and<BR>
"Sproule International Limited"</FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:times;"><p style="font-family:times;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:times;"><p align=left style="font-family:times;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Harry J. Helwerda, P.Eng., FEC<BR>
Executive Vice President and Director</FONT></TD>
</TR>
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 </DIV>
 <P style="font-family:times;"><FONT SIZE=2>Dated:
March&nbsp;1, 2012<BR>
Calgary, Alberta, Canada </FONT></P>

<HR NOSHADE>
<P style='font-family:times;page-break-before:always'></p>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds70301_1">EXHIBIT 99-5</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds70301_2">Consent of Sproule Associates Limited and Sproule International Limited</A></FONT><BR>
<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ds70301_3">LETTER OF CONSENT</A></FONT><BR>
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<A NAME="toc_dw70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-6    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dw70301_certification"> </A>
<A NAME="toc_dw70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  <U>CERTIFICATION</U>  <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, RICHARD L. GEORGE, certify that: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have reviewed this annual report on Form&nbsp;40-F of the Issuer;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this&nbsp;report;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the
financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this annual&nbsp;report;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
issuer's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as&nbsp;defined in
Exchange Act Rules&nbsp;13a-15(e) and&nbsp;15d-15(e)) and internal control over financial reporting (as&nbsp;defined in Exchange Act Rules&nbsp;13a-15(f)
and&nbsp;15d-15(f)) for the issuer and&nbsp;have:
<BR><BR></FONT>
<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is
being&nbsp;prepared;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluated
the effectiveness of the issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Disclosed
in this report any change in the issuer's internal control over financial reporting that occurred during the period covered by the annual report
that has materially affected, or is reasonably likely to materially affect, the issuer's internal control over financial reporting;&nbsp;and
<BR><BR></FONT></DD></DL>
</UL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
issuer's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the issuer's
auditors and the audit committee of the issuer's board of directors (or&nbsp;persons performing the equivalent functions):
<BR><BR></FONT>
<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the issuer's ability to record, process, summarize and report financial information;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Any
fraud, whether or not material, that involves management or other employees who have a significant role in the issuer's internal control over financial
reporting. </FONT></DD></DL>
</UL>
</DD></DL>
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<p style="font-family:times;"><font size=1></FONT><FONT SIZE=2>


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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>DATE: March&nbsp;1, 2012</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>/s/&nbsp;RICHARD L. GEORGE<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard L. George<BR>
Chief Executive Officer<BR></FONT>
</TD>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dw70301_2">CERTIFICATION</A></FONT><BR>
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NAME="dy70301_exhibit_99-7"> </A>
<A NAME="toc_dy70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-7    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="dy70301_certification"> </A>
<A NAME="toc_dy70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  <U>CERTIFICATION</U>  <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, BART W. DEMOSKY, certify that: </FONT></P>

<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>I
have reviewed this annual report on Form&nbsp;40-F of the issuer;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual&nbsp;report;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Based
on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the
financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this annual&nbsp;report;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
issuer's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as&nbsp;defined in
Exchange Act Rules&nbsp;13a-15(e) and&nbsp;15d-15(e)) and internal control over financial reporting (as&nbsp;defined in Exchange Act Rules&nbsp;13a-15(f)
and&nbsp;15d-15(f)) for the issuer and&nbsp;have:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is
being&nbsp;prepared;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(c)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Evaluated
the effectiveness of the issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(d)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Disclosed
in this report any change in the issuer's internal control over financial reporting that occurred during the period covered by the annual report
that has materially affected, or is reasonably likely to materially affect, the issuer's internal control over financial reporting;&nbsp;and
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
issuer's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the issuer's
auditors and the audit committee of the issuer's board of directors (or&nbsp;persons performing the equivalent functions):
<BR><BR></FONT>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(a)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the issuer's ability to record, process, summarize and report financial information;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>(b)</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>Any
fraud, whether or not material, that involves management or other employees who have a significant role in the issuer's internal control over financial
reporting. </FONT></DD></DL>
</DD></DL>
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<p style="font-family:times;"><font size=1></FONT><FONT SIZE=2>


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<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>DATE: March&nbsp;1, 2012</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>/s/&nbsp;BART W. DEMOSKY<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Bart W. Demosky<BR>
Chief Financial Officer<BR></FONT>
</TD>
</TR>
</TABLE></DIV>
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<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="8",CHK=970823,FOLIO='blank',FILE='DISK105:[12ZAL1.12ZAL70301]DY70301A.;4',USER='PANDERS',CD='27-FEB-2012;19:05' -->
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<P><br><A NAME="12ZAL70301_8">QuickLinks</A><br></P><!-- TOC_BEGIN -->
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dy70301_1">EXHIBIT 99-7</A></FONT><BR>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_dy70301_2">CERTIFICATION</A></FONT><BR>
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<TYPE>EX-99.8
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<P ALIGN="RIGHT" style="font-family:times;"><FONT SIZE=2><A
NAME="ea70301_exhibit_99-8"> </A>
<A NAME="toc_ea70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-8    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ea70301_certification_pursuant_to_18_u__cer03806"> </A>
<A NAME="toc_ea70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  CERTIFICATION PURSUANT TO 18&nbsp;U.S.C. SECTION&nbsp;1350,<BR>  AS ENACTED PURSUANT TO<BR>  SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF&nbsp;2002    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the annual report of Suncor Energy&nbsp;Inc. (the&nbsp;"Company") on Form&nbsp;40-F for the fiscal
year ending December&nbsp;31, 2011 as filed with the Securities and Exchange Commission on the date hereof (the&nbsp;"Report"), I, RICHARD L. GEORGE, Chief Executive Officer of the Company,
certify, pursuant to 18&nbsp;U.S.C. section&nbsp;1350, as adopted pursuant to section&nbsp;906 of the Sarbanes-Oxley Act of 2002,&nbsp;that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
Report fully complies with the requirements of section&nbsp;13(a) or&nbsp;15(d) of the Securities Exchange Act of 1934;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the&nbsp;Company. </FONT></DD></DL>
</UL>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:times;"><font size=1></FONT><FONT SIZE=2>


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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>/s/&nbsp;RICHARD L. GEORGE<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard L. George<BR>
Chief Executive Officer<BR>
Suncor Energy&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>DATE: March&nbsp;1, 2012<BR></FONT>
</TD>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ea70301_1">EXHIBIT 99-8</A></FONT><BR>
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ea70301_2">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ENACTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</A></FONT><BR>
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<TYPE>EX-99.9
<SEQUENCE>10
<FILENAME>a2207617zex-99_9.htm
<DESCRIPTION>EX-99.9
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NAME="ec70301_exhibit_99-9"> </A>
<A NAME="toc_ec70301_1"> </A>
<BR></FONT><FONT SIZE=2><B>  EXHIBIT 99-9    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:times;"><FONT SIZE=2><A
NAME="ec70301_certification_pursuant_to_18_u__cer03806"> </A>
<A NAME="toc_ec70301_2"> </A>
<BR></FONT><FONT SIZE=2><B>  CERTIFICATION PURSUANT TO 18&nbsp;U.S.C. SECTION&nbsp;1350,<BR>  AS ENACTED PURSUANT TO<BR>  SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF&nbsp;2002    <BR>    </B></FONT></P>

<P style="font-family:times;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the annual report of Suncor Energy&nbsp;Inc. (the&nbsp;"Company") on Form&nbsp;40-F for the fiscal
year ending December&nbsp;31, 2011 as filed with the Securities and Exchange Commission on the date hereof (the&nbsp;"Report"), I, BART W. DEMOSKY, Chief Financial Officer of the Company, certify,
pursuant to 18&nbsp;U.S.C. section&nbsp;1350, as adopted pursuant to section&nbsp;906 of the Sarbanes-Oxley Act of 2002,&nbsp;that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
Report fully complies with the requirements of section&nbsp;13(a) or&nbsp;15(d) of the Securities Exchange Act of 1934;&nbsp;and
<BR><BR></FONT></DD><DT style='font-family:times;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:times;"><FONT SIZE=2>The
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the&nbsp;Company. </FONT></DD></DL>
</UL>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:times;"><font size=1></FONT><FONT SIZE=2>


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<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2>/s/&nbsp;BART W. DEMOSKY<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Bart W. Demosky<BR>
Chief Financial Officer<BR>
Suncor Energy&nbsp;Inc.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:times;"><BR><FONT SIZE=2>DATE: March&nbsp;1, 2012<BR></FONT>
</TD>
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<P style='font-family:times;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2207617",CP="SUNCOR ENERGY INC.",DN="10",CHK=960941,FOLIO='blank',FILE='DISK105:[12ZAL1.12ZAL70301]EC70301A.;2',USER='JDAY',CD='27-FEB-2012;18:57' -->
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<FONT SIZE=2 style="font-family:times;"><A HREF="#toc_ec70301_2">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ENACTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</A></FONT><BR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
