<SEC-DOCUMENT>0001104659-20-119588.txt : 20201029
<SEC-HEADER>0001104659-20-119588.hdr.sgml : 20201029
<ACCEPTANCE-DATETIME>20201029171820
ACCESSION NUMBER:		0001104659-20-119588
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20201029
FILED AS OF DATE:		20201029
DATE AS OF CHANGE:		20201029

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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12384
		FILM NUMBER:		201273692

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 2844
		STREET 2:		150 - 6TH AVENUE S.W.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3E3
		BUSINESS PHONE:		403-296-8000

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 2844
		STREET 2:		150 - 6TH AVENUE S.W.
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3E3

	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>6-K
<SEQUENCE>1
<FILENAME>tm2032593d6_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Report of Foreign Private Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Rule&nbsp;13a - 16 or 15d -
16 of</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For the month of:&nbsp;&nbsp;October, 2020</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Commission File Number:&nbsp;&nbsp;1-12384</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SUNCOR
ENERGY INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>150 &ndash; 6th Avenue S.W.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>P.O.&nbsp;Box 2844</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calgary, Alberta</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Canada, T2P 3E3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;20-F</FONT></TD>
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center">&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 28%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 18%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;40-F</FONT></TD>
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 49%; text-align: left">&nbsp;SUNCOR ENERGY INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Date: </TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-style: normal; font-weight: normal">By:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">October&nbsp;29, 2020</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; font: italic 10pt Times New Roman, Times, Serif; text-align: left">&ldquo;Shawn Poirier"</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Shawn Poirier<BR>Assistant Corporate Secretary</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="border-bottom: Black 1pt solid; width: 8%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 90%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description of Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tm2032593d6_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.1</FONT></A></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD><A HREF="tm2032593d6_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">News Release dated October&nbsp;28, 2020, Suncor Energy reports third quarter 2020 results</FONT></A></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">News Release dated October&nbsp;28, 2020,
Suncor Energy reports third quarter 2020 results</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2032593d6_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
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    <TD COLSPAN="2" STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">Exhibit 99.1&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-left: -0.875in; text-align: right; vertical-align: bottom; width: 20%"><IMG SRC="tm2032593d6_ex99-1img001.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-left: -0.875in; text-align: right; vertical-align: bottom; width: 80%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt; color: #005596; background-color: White"><B>News
Release</B></FONT></P>

</TD></TR>
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    <TD COLSPAN="2" STYLE="text-align: right; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>FOR IMMEDIATE RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Suncor Energy reports third quarter 2020 results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Unless otherwise noted, all financial figures are unaudited,
presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically
International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production
volumes are presented on a working-interest basis, before royalties, except for production volumes from the company&rsquo;s Libyan
operations, which are presented on an economic basis. Certain financial measures referred to in this news release (funds from operations,
operating (loss) earnings and free funds flow) are not prescribed by Canadian generally accepted accounting principles (GAAP).
See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.&rsquo;s
interests in Fort Hills and Syncrude.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Calgary, Alberta (Oct.&nbsp;28, 2020) &ndash; </B>&ldquo;We
remain steadfast in our commitment to the safety and reliability of our operations as we continue to navigate the impact of the
COVID-19&nbsp;pandemic,&rdquo; said Mark Little, president and chief executive officer. &ldquo;Although the pandemic continues
to have adverse impacts on our industry, we remain focused on items within our control, including the safety of our workforce and
communities, and structural changes that lower our cost base, preserve the financial resiliency of the company and set the foundation
for long-term value creation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Funds from operations increased to $1.166&nbsp;billion ($0.76 per
common share) in the third quarter of 2020, from $488&nbsp;million ($0.32 per common share) in the second quarter of 2020. Funds
from operations were $2.675&nbsp;billion ($1.72 per common share) in the prior year quarter. Cash flow provided by operating activities,
which includes changes in non-cash working capital, was $1.245&nbsp;billion ($0.82 per common share) in the third quarter of 2020,
compared to $3.136&nbsp;billion ($2.02 per common share) in the prior year&nbsp;quarter.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The company recorded an operating loss of $302&nbsp;million ($0.20
per common share) in the third quarter of 2020, compared to $1.489&nbsp;billion ($0.98 per common share) in the second quarter
of 2020 and operating earnings of $1.114&nbsp;billion ($0.72 per common share) in the prior year quarter. The company had a net
loss of $12&nbsp;million ($0.01 per common share) in the third quarter of 2020, compared to net earnings of $1.035&nbsp;billion
($0.67 per common share) in the prior year&nbsp;quarter.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The company continued to reduce operating and capital costs in the
third quarter of 2020 relative to the prior year quarter and remains on track to achieve its previously announced $1&nbsp;billion
operating cost reduction target and $1.9&nbsp;billion capital cost reduction target.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The company undertook significant maintenance activities across its
upstream and downstream assets in the third quarter of 2020, which resulted in lower production volumes and refinery utilization.
Total upstream production decreased to 616,200&nbsp;barrels of oil equivalent per day (boe/d) during the third quarter of 2020,
from 762,300&nbsp;boe/d in the prior year quarter, and refinery utilization averaged 87% in the third quarter of 2020 compared
to 100% in the prior year quarter. Substantially all maintenance activities were completed during or subsequent to the third quarter
of 2020, including repairs at Oil Sands Base Plant, enabling all assets to return to normal operating rates by early November&nbsp;2020.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="vertical-align: top; width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: White">Suncor Energy</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: White">150 6 Avenue
        S.W. Calgary, Alberta T2P 3E3</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #005596"><FONT STYLE="background-color: White">suncor.com</FONT></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The company&rsquo;s ability to react rapidly to changing market conditions
enabled the company to exit the quarter with refinery utilization of approximately&nbsp;97%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">During the third quarter of 2020, Suncor began the restart of the
second primary extraction train at Fort&nbsp;Hills. In October&nbsp;2020, the restart was completed with Fort&nbsp;Hills now on
track to achieve its updated gross production guidance of between 120,000 and 130,000&nbsp;barrels per day&nbsp;(bbls/d) in the
fourth quarter of 2020.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The accelerated maintenance at Firebag, which allows the company to
integrate and fully utilize the additional steam and water treatment assets has been substantially completed subsequent to the
third quarter of 2020. Firebag is in the process of commissioning and ramping up the facility to its new nameplate capacity of
215,000&nbsp;bbls/d.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The interconnecting pipelines between Suncor&rsquo;s Oil Sands Base
Plant and Syncrude are nearing completion of construction, and will be commissioned in the fourth quarter of 2020. The bi-directional
pipelines are expected to enhance integration between these assets and provide increased operational flexibility.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Financial Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operating (Loss) Earnings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor&rsquo;s third quarter 2020 operating loss was $302&nbsp;million
($0.20 per common share), compared to operating earnings of $1.114&nbsp;billion ($0.72 per common share) in the prior year quarter.
In the third quarter of 2020, crude oil and refined product realizations decreased significantly from the prior year quarter, with
crude oil and crack spread benchmarks declining by more than 25%, primarily due to the impacts of the COVID-19&nbsp;pandemic. Upstream
production decreased as the company experienced an operational incident at Oil Sands Base Plant and Fort Hills continued operating
on one primary extraction train. Refinery crude throughput decreased compared to the prior year quarter due to planned maintenance
activities and lower demand for transportation fuels as a result of the COVID-19&nbsp;pandemic. Operating losses in the third quarter
of 2020 were minimized by the decrease in operating, selling and general expenses associated with lower production and the continued
execution of the company&rsquo;s cost reduction initiatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Net (Loss) Earnings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor&rsquo;s net loss was $12&nbsp;million ($0.01 per common
share) in the third quarter of 2020, compared to net earnings of $1.035&nbsp;billion ($0.67 per common share) in the prior year
quarter. In addition to the factors impacting operating (loss) earnings discussed above, the net loss for the third quarter of
2020 included a $290&nbsp;million unrealized after-tax foreign exchange gain on the revaluation of U.S.&nbsp;dollar denominated
debt. Net earnings in the prior year quarter included a $127&nbsp;million unrealized after-tax foreign exchange loss on the revaluation
of U.S.&nbsp;dollar denominated debt and an after-tax gain of $48&nbsp;million in the Exploration and Production (E&amp;P) segment
related to the sale of certain non-core assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Funds from Operations and Cash Flow Provided By Operating
Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Funds from operations were $1.166&nbsp;billion ($0.76 per common
share) in the third quarter of 2020, compared to $2.675&nbsp;billion ($1.72 per common share) in the third quarter of 2019, and
were influenced by the same factors impacting operating (loss) earnings noted&nbsp;above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cash flow provided by operating activities, which includes changes
in non-cash working capital, was $1.245&nbsp;billion ($0.82 per common share) for the third quarter of 2020, compared to $3.136&nbsp;billion
($2.02 per common share) in the prior year quarter. In addition to the factors noted above, cash flow provided by operating activities
was further impacted by a lower source of cash associated with the company&rsquo;s working capital balances in the third quarter
of 2020 compared to the prior year quarter. The source of cash was primarily due to an increase in accrued liabilities relative
to the second quarter of 2020, partially offset by an increase in income taxes receivable due to tax losses incurred, which are
expected to be received in&nbsp;2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operating Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor&rsquo;s total upstream production was 616,200&nbsp;boe/d
during the third quarter of 2020, compared to 762,300&nbsp;boe/d in the prior year quarter. Synthetic crude oil (SCO) production
decreased to 410,800&nbsp;bbls/d in the third quarter of 2020 from 479,300&nbsp;bbls/d in the third quarter of 2019, resulting
in combined upgrader utilization rates of 75% and 87%, respectively, with both periods impacted by planned maintenance at Oil Sands
operations and Syncrude and, in the third quarter of 2020, by an operational incident at the secondary extraction facilities at
Oil Sands Base Plant. Production was restored to 165,000&nbsp;bbls/d of mined bitumen, within approximately two weeks of the incident,
as production was restricted to manage bitumen quality into the upgraders. Subsequent to the third quarter of 2020, repairs were
substantially completed and production is anticipated to ramp up to full rates by early November&nbsp;2020. To mitigate the impact
of this event, the company diverted bitumen production from Firebag to the upgraders to maximize the production of higher value
SCO barrels. As a result, overall Oil Sands production was also reduced by the yield loss associated with upgrading In Situ bitumen
to&nbsp;SCO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Non-upgraded bitumen production decreased to 108,200&nbsp;bbls/d
in the third quarter of 2020 from 190,700&nbsp;bbls/d in the third quarter of 2019, as bitumen production from Firebag was diverted
to the upgrader to maximize value over volume and as Fort Hills continued operating on one primary extraction train throughout
the third quarter of 2020. At the end of the third quarter of 2020, the company also accelerated a portion of Firebag maintenance
originally scheduled for 2022, to expand the capacity of the facility through the installation of new incremental emulsion handling
and steam infrastructure and also address plant restrictions that developed during the quarter. This maintenance was substantially
completed subsequent to the third quarter of 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At Fort Hills, the second primary extraction train was restarted
in the third quarter of 2020. Subsequent to the third quarter of 2020, the restart was completed with Fort Hills now on track to
achieve its updated gross production guidance of between 120,000 and 130,000&nbsp;bbls/d in the fourth quarter of 2020. This lays
the foundation for improved cost effectiveness through optimization of the mine fleet and includes the completion of the full deployment
of autonomous haul trucks by the end of 2020. At this initial production level, Suncor expects to retain approximately 90% of the
estimated cost reductions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;We are disappointed with our recent operational performance
so we are strengthening our focus on the company&rsquo;s commitment to reliability,&rdquo; said Little. &ldquo;We remain focused
on operational excellence and on continuing to make the right long-term decisions to advance our asset sustainment and strategic
initiatives aimed at improving reliability, increasing margins and reducing operating costs across our&nbsp;assets.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">E&amp;P production during the third quarter of 2020 increased
to 97,200&nbsp;boe/d from 92,300&nbsp;boe/d in the prior year quarter, primarily due to improved reliability at Hibernia, and increased
production at Hebron as six new production wells have come online since the third quarter of 2019, partially offset by Terra Nova,
which remained offline, and natural declines in the United&nbsp;Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Refinery crude throughput was 399,700&nbsp;bbls/d and refinery
utilization was 87% in the third quarter of 2020, compared to refinery crude throughput of 463,700&nbsp;bbls/d and refinery utilization
of 100% in the prior year quarter, with the decline due to the completion of the eight-week planned maintenance event at the Edmonton
refinery and lower demand for refined products during the third quarter of 2020. Refined product sales decreased in the third quarter
of 2020 to 534,000&nbsp;bbls/d, compared to 572,000&nbsp;bbls/d in the prior year quarter, as a result of the COVID-19&nbsp;pandemic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The company&rsquo;s total operating, selling and general expenses
decreased to $2.275&nbsp;billion in the third quarter of 2020 from $2.793&nbsp;billion in the prior year quarter, primarily due
to lower overall upstream and downstream sales volumes, continued cost reduction initiatives executed in 2020, as well as a share-based
compensation recovery incurred in the third quarter of 2020, as compared to a share-based compensation expense in the prior year
quarter. Operating, selling and general expenses for the nine months ended September&nbsp;30, 2020 decreased by approximately $1&nbsp;billion
compared to the prior year&nbsp;period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Suncor continues to reduce operating and capital costs
across our business,&rdquo; said Little. &ldquo;Building on our commitment to reliability, the work at our Oil Sands Base Plant,
Firebag and Fort Hills operations is substantially complete and the facilities are in the process of ramping up to normal operating
rates by early November. With our full complement of refinery assets back on stream after planned maintenance, the company is positioned
for strong performance exiting&nbsp;2020.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Strategy Update</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In response to the COVID-19&nbsp;pandemic and global supply
imbalances, the company took decisive action to lower production to meet demand, lower operating costs and capital, and preserve
its financial strength while laying the foundation to deliver long-term value in support of increasing shareholder returns. This
approach is underpinned by Suncor&rsquo;s commitment to operational excellence, including its unwavering commitment to operate
in a safe, reliable, cost-efficient and environmentally responsible manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor has made progress in reducing operating costs across
the company and remains on track to achieve the previously announced $1&nbsp;billion operating cost reduction target by the end
of 2020. In 2020, the company has achieved savings through base business reductions, enhancements to our supply chain model and
reductions in costs as Fort Hills temporarily transitioned to one primary extraction train. In addition to the progress Suncor
has made thus far on reducing operating and capital costs, the company has made the decision to accelerate structural reductions
to its workforce over the next 18&nbsp;months by approximately 10 to 15%, which were anticipated as part of the company&rsquo;s
transformation and $2&nbsp;billion incremental free funds flow&nbsp;target.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The company also remains on track to achieve its $1.9&nbsp;billion
capital reduction target by the end of 2020, shifting the focus to sustaining projects designed to maintain safe and reliable operations,
while advancing select projects in the core of our business that are expected to provide near-term returns and result in structural
reductions to operating costs. Suncor continues to exercise capital discipline, carefully evaluating future projects and being
disciplined in the deployment of capital in a constrained environment. This includes reducing spending across various E&amp;P assets,
including at Terra Nova, West White Rose and Fenja. The operator of the West White Rose Project has announced the cancellation
of the 2021 construction season and is moving the project into safekeeping mode. The company is exercising capital discipline by
undertaking activities to safely preserve the Terra Nova floating production storage and offloading unit quayside and deferring
the asset life extension (ALE) project until an economically viable path forward with a safe and reliable return to operations
can be determined. The ALE project is currently being evaluated with all stakeholders to determine the best option to recover remaining
resources from the Terra Nova&nbsp;field.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the third quarter of 2020, the company continued to advance
the transition to its Autonomous Haulage System (AHS) at Fort Hills, which is expected to result in enhanced safety, environmental
and operating performance, and lower operating costs. The company anticipates that the AHS truck fleet at Fort Hills will be fully
operational in the fourth quarter of 2020. Starting late in the third quarter of 2020, Firebag In-Situ production rates were reduced
to 110,000&nbsp;bbls/d to enable Suncor to expand the capacity of the facility by fully integrating the new incremental emulsion
handling and steam infrastructure. Following completion of this work, Firebag nameplate capacity will increase by 12,000&nbsp;bbls/d
to 215,000&nbsp;bbls/d. The interconnecting pipelines between Suncor&rsquo;s Oil Sands Base Plant and Syncrude are nearing completion
of construction, and will be commissioned in the fourth quarter of 2020. The bi-directional pipelines are expected to enhance integration
between these assets and provide increased operational flexibility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These initiatives are anticipated to deliver structural, sustained
free funds flow growth through margin improvements, operating and sustaining capital cost reductions, and production growth from
existing assets, which will contribute to Suncor&rsquo;s $2&nbsp;billion free funds flow target. Technology investments in the
company&rsquo;s marketing and trading business and the advancement of supply chain optimization initiatives are also expected to
contribute towards this target while unlocking value that is largely independent of commodity prices. These projects will be underscored
by digital technology adoption as the company continues to accelerate its digital transformation strategy aimed at improving the
reliability, safety and environmental performance of its operations and which the company anticipates will enable operational efficiencies
that will provide further structural cost&nbsp;savings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Through our integrated model and the value-driven projects
we&rsquo;ve advanced, including the AHS at Fort Hills and the Syncrude interconnecting pipelines, we believe Suncor is well positioned
to add incremental and sustainable free funds flow in 2021,&rdquo; said Little. &ldquo;We are confident that the steps we have
taken this year will contribute to creating long-term value for our shareholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">While the focus in 2020 has been on maintaining the financial
strength and resiliency of the balance sheet through this period of volatile market conditions, the company remains committed to
returning value to our shareholders and, in the third quarter of 2020, the company paid $321&nbsp;million in dividends. As the
company continues to execute on its plan to add sustainable annual free funds flow, the company plans to follow its capital allocation
framework with a combination of future debt repayments, increasing shareholder returns and measured investments in economic projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operating (Loss) Earnings Reconciliation</B><SUP>(1)</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center"><B>Three
    months ended<BR> September&nbsp;30</B></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center"><B>Nine
    months ended<BR> September&nbsp;30</B></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">($&nbsp;millions)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1pt solid">2019</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Net (loss) earnings</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(12</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1&nbsp;035</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(4&nbsp;151)</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5&nbsp;234</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 20pt">Unrealized foreign exchange (gain) loss on U.S.&nbsp;dollar denominated debt</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(290</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">127</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">253</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(355</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -10pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset impairment<SUP>(2)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1&nbsp;798</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impact of income tax rate adjustment on deferred taxes<SUP>(3)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1&nbsp;116)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gain on significant disposal<SUP>(4)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(48</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(187</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating (loss) earnings<SUP>(1)</SUP></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(302</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1&nbsp;114</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(2&nbsp;100)</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3&nbsp;576</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>Operating (loss) 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 news release.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>During the first quarter of 2020, the company recorded non-cash after-tax impairment charges of $1.376&nbsp;billion on its
share of the Fort Hills assets, in the Oil Sands segment, and $422&nbsp;million against its share of the White Rose and Terra Nova
assets, in the E&amp;P segment, due to a decline in forecasted crude oil prices as a result of decreased global demand due to the
COVID-19&nbsp;pandemic and changes to their respective capital, operating and production plans. Refer to the Segment Results and
Analysis section of the MD&amp;A for further details.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>In the second quarter of 2019, the company recorded a $1.116&nbsp;billion deferred income tax recovery associated with the
Government of Alberta&rsquo;s substantive enactment of legislation for the staged reduction of the corporate income tax rate from
12% to 8% from 2019 to&nbsp;2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>The third quarter of 2019 included an after-tax gain of $48&nbsp;million in the E&amp;P segment related to the sale of certain
non-core assets. In the second quarter of 2019, Suncor sold its 37% interest in Canbriam Energy&nbsp;Inc. for total proceeds and
an equivalent gain of $151&nbsp;million ($139&nbsp;million after-tax), which had previously been written down to nil in the fourth
quarter of 2018 following the company&rsquo;s assessment of forward natural gas prices and the impact on estimated future cash&nbsp;flows.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Corporate Guidance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor has updated its Corporate Guidance for the full year
business environment outlook assumptions previously updated on September&nbsp;7, 2020 for Brent Sullom Voe from US$43.00/bbl to
US$41.00/bbl, WTI at Cushing from US$40.00/bbl to US$38.00/bbl, WCS at Hardisty from US$26.00/bbl to US$25.00/bbl and AECO-C&nbsp;Spot
from $2.25/GJ to $2.00/GJ, due to declines in key forward curve pricing for the remainder of the year. As a result of these updates,
the full year current income tax recovery assumptions have changed from $500&nbsp;million&nbsp;&ndash; $800&nbsp;million to $650&nbsp;million&nbsp;&ndash;
$950&nbsp;million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For further details and advisories regarding Suncor&rsquo;s
2020 annual guidance, see <FONT STYLE="color: #005596">suncor.com/guidance</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Non-GAAP Financial Measures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Operating (loss) earnings is defined in the Non-GAAP Financial
Measures Advisory section of Suncor&rsquo;s management&rsquo;s discussion and analysis dated October&nbsp;28, 2020 (the MD&amp;A)
and reconciled to the GAAP measure above and in the Consolidated Financial Information section of the MD&amp;A. Funds from operations
and free funds flow are defined and reconciled, as applicable, to the GAAP measure in the Non-GAAP Financial Measures Advisory
section of the MD&amp;A. These non-GAAP financial measures are included because management uses this information to analyze business
performance, leverage and liquidity and it may be useful to investors on the same basis. These non-GAAP measures do not have any
standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies and should not
be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Legal Advisory &ndash; Forward-Looking Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>This news release contains certain forward-looking information
and forward-looking statements (collectively referred to herein as &ldquo;forward-looking statements&rdquo;) within the meaning
of applicable Canadian and U.S. securities laws. Forward-looking statements in this news release include references to: Suncor&rsquo;s
expectation that its focus on items within its control and structural changes will lower its cost base, preserve the financial
resiliency of the company and set the foundation for long-term value creation; that the company remains on track to achieve its
$1 billion operating cost reduction target and its $1.9 billion capital cost reduction target by the end of 2020; that all assets
will return to normal operating rates by early November&nbsp;2020 and that Fort Hills is on track to achieve its updated gross
production guidance of between 120,000 and 130,000 bbls/d in the fourth quarter of 2020; the expectation that the accelerated maintenance
at Firebag will allow the company to integrate and fully utilize the additional steam and water treatment assets and that Suncor
is commissioning and ramping up the facility to its new nameplate capacity of 215,000 bbls/d; the expectation that the bi-directional
interconnecting pipelines between Syncrude and Oil Sands Base Plant will be commissioned in the fourth quarter of 2020 and will
enhance integration between these assets and provide increased operational flexibility; Suncor&rsquo;s expectation that its income
taxes receivable due to tax losses will be received in 2021; Suncor&rsquo;s expectation that the restart of the second primary
extraction train at Fort Hills will lay the foundation for improved cost effectiveness through optimization of the mine fleet;
statements surrounding AHS, including that it will be fully deployed at Fort Hills by the end of 2020, that it will result in enhanced
safety, environmental and operating performance and lower operating costs and that Suncor will retain approximately 90% of the
estimated cost reductions; Suncor&rsquo;s commitment to reliability and that it will remain focused on making the right long-term
decisions to advance its asset sustainment and strategic initiatives aimed at improving reliability, increasing margins and reducing
operating costs across its assets; Suncor&rsquo;s belief that it is positioned for a strong performance exiting 2020, and the basis
for such belief; Suncor&rsquo;s belief that the actions it took to lower production to meet demand, lower operating costs and capital
and preserve its financial strength will lay the foundation to deliver long-term value in support of increasing shareholder returns
and that this approach is underpinned by its commitment to operational excellence, including its unwavering commitment to operate
in a safe, reliable, cost-efficient and environmentally responsible manner; Suncor&rsquo;s expectations regarding the structural
reductions to its workforce, including the timing, scope and expected impacts; Suncor&rsquo;s expectation that it will continue
to execute on its operating and capital costs reduction targets by shifting the focus to sustaining projects designed to maintain
safe and reliable operations, while advancing select projects in the core of its business that are expected to provide near-term
returns and result in structural reductions to operating costs; statements about Suncor&rsquo;s free funds flow target, as well
as the initiatives and projects that are expected to contribute to it; Suncor&rsquo;s expectations for the technology investments
in its marketing and trading business and the advancement of supply chain optimization initiatives, the belief that these projects
will be underscored by digital technology adoption as the company continues to accelerate its digital transformation strategy aimed
at improving the reliability, safety and environmental performance of its operations and which the company anticipates will enable
operational efficiencies that will provide further structural cost savings; Suncor&rsquo;s belief that it is well positioned to
add incremental and sustainable free funds flow in 2021 and that the steps it has taken in 2020 will contribute to creating long-term
value for its shareholders, and the basis for such beliefs; Suncor&rsquo;s plan to follow its capital allocation framework with
a combination of future debt repayments, increasing shareholder returns and measured investments in economic projects; and Suncor&rsquo;s
full year outlook range on current income taxes and business environment outlook assumptions for Brent Sullom Voe, WTI at Cushing,
WCS at Hardisty and AECO-C Spot. In addition, all other statements and information about Suncor&rsquo;s strategy for growth, expected
and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and financial
results 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 &ldquo;expects&rdquo;, &ldquo;anticipates&rdquo;, &ldquo;will&rdquo;, &ldquo;estimates&rdquo;,
 &ldquo;plans&rdquo;, &ldquo;scheduled&rdquo;, &ldquo;intends&rdquo;, &ldquo;believes&rdquo;, &ldquo;projects&rdquo;, &ldquo;indicates&rdquo;,
 &ldquo;could&rdquo;, &ldquo;focus&rdquo;, &ldquo;vision&rdquo;, &ldquo;goal&rdquo;, &ldquo;outlook&rdquo;, &ldquo;proposed&rdquo;,
 &ldquo;target&rdquo;, &ldquo;objective&rdquo;, &ldquo;continue&rdquo;, &ldquo;should&rdquo;, &ldquo;may&rdquo; and similar expressions.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Forward-looking statements are based on Suncor&rsquo;s current
expectations, estimates, projections and assumptions that were made by the company in light of its information available at the
time the statement was made and consider Suncor&rsquo;s experience and its perception of historical trends, including expectations
and assumptions concerning: the accuracy of reserves estimates; the current and potential adverse impacts of the COVID-19 pandemic,
including the status of the pandemic and future waves and any associated policies around current business restrictions, shelter-in-place
orders or gatherings of individuals; commodity prices and interest and foreign exchange rates; the performance of assets and equipment;
capital efficiencies and cost savings; applicable laws and government policies; future production rates; the sufficiency of budgeted
capital expenditures in carrying out planned activities; the availability and cost of labour, services and infrastructure; the
satisfaction by third parties of their obligations to Suncor; the development and execution of projects; and the receipt, in a
timely manner, of regulatory and third-party approvals.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Forward-looking statements are not guarantees of future performance
and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique
to Suncor. Suncor&rsquo;s actual results may differ materially from those expressed or implied by its forward-looking statements,
so readers are cautioned not to place undue reliance on them.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Suncor&rsquo;s Annual Information Form&nbsp;and Annual Report
to Shareholders, each dated February&nbsp;26, 2020, Form&nbsp;40-F dated February&nbsp;27, 2020, the MD&amp;A, and other documents
Suncor files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and
other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents
are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3, by calling 1-800-558-9071, or by email
request to <FONT STYLE="color: #005596">invest@suncor.com</FONT> or by referring to the company&rsquo;s profile on SEDAR at <FONT STYLE="color: #005596">sedar.com</FONT>
or EDGAR at <FONT STYLE="color: #005596">sec.gov</FONT>. Except as required by applicable securities laws, Suncor disclaims any
intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Legal Advisory &ndash; BOEs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain natural gas volumes have been converted to barrels
of oil equivalent (boe) on the basis of one barrel to six thousand cubic feet. Any figure presented in boe may be misleading, particularly
if used in isolation. A conversion ratio of one bbl of crude oil or natural gas liquids to six thousand cubic feet of natural gas
is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a 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 basis may be misleading as an indication of value.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Suncor Energy is Canada's leading integrated energy company.
Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product
marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly
develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock
index. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&ndash; 30 &ndash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For more information about Suncor, visit our website at <FONT STYLE="color: #005596">suncor.com</FONT>
or follow us on Twitter <FONT STYLE="color: #005596">@Suncor</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">A full copy of Suncor's third quarter
2020 Report to Shareholders and the financial statements and notes (unaudited) can be downloaded at <FONT STYLE="color: #005596">suncor.com/investor-centre/financial-reports</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Suncor&rsquo;s updated Investor Relations
presentation is available online, visit <FONT STYLE="color: #005596">suncor.com/investor-centre</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">To listen to the webcast discussing
Suncor's third quarter results, visit <FONT STYLE="color: #005596">suncor.com/webcasts</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Media inquiries:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-833-296-4570</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #005596">media@suncor.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investor inquiries:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1-800-558-9071</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #005596">invest@suncor.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
