<SEC-DOCUMENT>0001104659-22-111776.txt : 20221027
<SEC-HEADER>0001104659-22-111776.hdr.sgml : 20221027
<ACCEPTANCE-DATETIME>20221027084114
ACCESSION NUMBER:		0001104659-22-111776
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20221027
FILED AS OF DATE:		20221027
DATE AS OF CHANGE:		20221027

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:		221335038

	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>tm2227263d4_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

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

<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">SECURITIES AND EXCHANGE COMMISSION</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; text-align: center">&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; text-align: center">Pursuant to Rule 13a - 16 or 15d - 16 of</P>

<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; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt">For the month of:&nbsp;&nbsp;October, 2022</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">Commission File Number:&nbsp;&nbsp;1-12384</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt 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; text-align: center">(Name of registrant)</P>

<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"><B>150 &#8211; 6th Avenue S.W.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>P.O. Box 2844</B></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; text-align: center"><B>Canada, T2P 3E3</B></P>

<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: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:</P>

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

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 7%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-size: 10pt">Form 40-F</FONT></TD>
    <TD STYLE="width: 7%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="width: 10%; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<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 6-K
in paper as permitted by Regulation S-T Rule 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 6-K
in paper as permitted by Regulation S-T Rule 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"></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; text-align: center">&nbsp;</P>

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

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<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD><FONT STYLE="font-size: 10pt"><B>SUNCOR ENERGY INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>Date:</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>By:</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid">October 27, 2022</TD>
<TD STYLE="text-align: justify">&nbsp;</TD>
<TD STYLE="text-align: center"><I>&#8220;Shawn Poirier&#8221;</I></TD></TR>
<TR>
<TD STYLE="vertical-align: top; width: 45%; text-align: justify">&nbsp;</TD>
<TD STYLE="vertical-align: top; width: 10%; text-align: justify">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; vertical-align: top; width: 45%">Shawn Poirier <BR>
Assistant Corporate Secretary</TD></TR>
</TABLE>

<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; text-align: center"></P>

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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"><B>EXHIBIT INDEX</B></P>

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

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    <TD STYLE="border-bottom: Black 1pt solid; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 60%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description
    of Exhibit</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><A HREF="tm2227263d4_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><A HREF="tm2227263d4_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">News Release dated October 26, 2022, Suncor Energy
    to acquire additional working interest in Fort Hills Project</FONT></A></TD></TR>
  </TABLE>

<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"></P>

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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"><B>EXHIBIT 99.1</B></P>

<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"><FONT STYLE="font-weight: normal">News Release
dated October 26, 2022, Suncor Energy to acquire additional working interest in Fort Hills Project</FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2227263d4_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49%"><IMG SRC="tm2227263d4_ex99-1img001.jpg" ALT="">&nbsp;</TD>
  <TD STYLE="width: 2%">&nbsp;</TD>
  <TD STYLE="vertical-align: bottom; text-align: right; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>News
                                            Release</B></FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Suncor Energy to acquire additional working interest in Fort Hills
Project </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>All financial figures are in Canadian dollars</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Calgary, Alberta (October 26, 2022)</B> &ndash; Suncor Energy (TSX:
SU) (NYSE: SU) today announced that it has agreed to purchase an additional 21.3% working interest in the Fort Hills Project and associated
sales and logistics agreements from Teck Resources Limited, for consideration of $1 billion. Upon closing, Suncor&rsquo;s aggregate share
in the project will increase to 75.4%. The acquisition will be funded by cash from asset sale processes currently underway and the company
remains on track with its previously articulated capital allocation framework.</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">This transaction sets a current market value for Fort Hills and Suncor
will therefore recognize a non-cash accounting impairment charge on its existing 54.1% interest of approximately $2.6 billion<SUP>(1)
</SUP>after-tax in its third quarter results which will be announced on November 2, 2022.</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">&quot;The acquisition of an additional interest in Fort Hills meets
our return objectives, builds upon our strategy to optimize our portfolio around our core operated assets and underscores Suncor&rsquo;s
confidence in the long-term value of the Fort Hills Project. This acquisition is a part of our Base Plant mine replacement strategy,&rdquo;
said Kris Smith, Interim President and Chief Executive Officer.</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">Our new Mining and Upgrading and Fort Hills operating leadership teams
have been conducting an in-depth review of the Fort Hills Project and have developed and commenced a multi-year performance improvement
initiative. This recognizes the medium-term challenges in asset performance and drives the necessary actions focused on optimizing production,
operating costs and capital requirements over the long-term. In the next 36 months, we expect lower gross production and increased operating
costs per barrel, each impacted by approximately 5% when compared to Suncor&rsquo;s most recent corporate guidance for 2022, due to physical
mine constraints as well as accelerated development of further mine pits for increased sustained long-term production.</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;While the Fort Hills mine has faced challenges in the early
years of the mine life, including challenges due to government directed production shut ins, I have full confidence in our current mine
plan assembled with fresh external mining perspectives,&rdquo; continued Smith. &ldquo;We look forward to discussing our plans for the
Project in more detail at our upcoming investor presentation on November 29, 2022.&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">With the completion of the purchase agreement, the Fort Hills Energy
LP&rsquo;s partners will include: Suncor and its affiliate (holding an aggregate 75.4% interest) and TotalEnergies EP Canada Ltd. (24.6%
interest). Suncor is the operator of the Fort Hills Project through an operating services contract. The Fort Hills Project is located
in Alberta&rsquo;s Athabasca region, 90 kilometres north of Fort McMurray.</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 transaction is subject to customary closing conditions, including
regulatory approval under the Competition Act and is anticipated to close in the first quarter of 2023.</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 2022 annual corporate guidance remains unchanged and
is available on its website at <U>suncor.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; color: #191919"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD>Our WTI crude price for long term planning purposes is US$60.00
                                            per bbl (real)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 66%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 34%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suncor Energy</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">150 6
    Avenue S.W.</FONT> Calgary, Alberta T2P 3E3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>suncor.com</U></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919"><B>Legal Advisory &ndash; Forward-Looking Statements
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #191919"><B>&nbsp;</B></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 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. Forward-looking statements in this news release include expectations regarding Suncor's
acquisition of an additional 21.3% working interest in the Fort Hills Project and Suncor's expectation that it remains on track with
its previously articulated capital allocation framework as well as statements and expectations regarding the Fort Hills Project, including
expectations for gross production and operating costs per barrel for the next 36 months, expectations surrounding the multi-year performance
improvement initiative including its focus and expected benefits, Suncor's confidence in its current mine plan and references to Suncor's
2022 annual corporate guidance. 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 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"><I>&nbsp;</I></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 Management&rsquo;s Discussion and Analysis for the
second quarter of 2022 dated August 4, 2022, its Annual Information Form and Annual Report to Shareholders each dated February 23, 2022,
its Form 40-F dated February 24, 2022, and other documents it 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 e-mail request to <FONT STYLE="font-size: 10pt"><U>invest@suncor.com</U></FONT>; by calling (800) 558-9071; or by referring to
<FONT STYLE="font-size: 10pt"><U>suncor.com/FinancialReports</U></FONT> or to the company&rsquo;s profile on SEDAR at <FONT STYLE="font-size: 10pt"><U>sedar.com
</U></FONT>or EDGAR at <FONT STYLE="font-size: 10pt"><U>sec.gov</U></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"><I>Suncor is Canada&rsquo;s leading integrated energy company. Suncor&rsquo;s
operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and
the United States and the company&rsquo;s Petro-Canada retail and wholesale distribution networks, including Canada&rsquo;s Electric
Highway, a coast-to-coast network of fast-charging EV stations. Suncor is developing petroleum resources while advancing the transition
to a low-emissions future through investment in power, renewable fuels and hydrogen. Suncor also conducts energy trading activities focused
principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor has been recognized
for its performance and transparent reporting on the Dow Jones Sustainability index, FTSE4Good and CDP. Suncor&rsquo;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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&ndash; 30 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">&ndash;</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">For more information about Suncor, visit our web site at <FONT STYLE="font-size: 10pt"><U>suncor.com
</U></FONT>or follow us on Twitter <FONT STYLE="font-size: 10pt"><U>@Suncor</U></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">(833) 296-4570</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>media@suncor.com</U></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">(800) 558-9071</P>

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



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