Mr. Rich Kruger repors

SUNCOR ENERGY INCREASES DIVIDEND

Suncor Energy Inc.'s board of directors has approved a quarterly dividend of 57 cents per common share, representing an approximate increase of 5 per cent over the prior quarterly dividend.

"Sustained operational improvements across our asset base, the continued realization of free funds flow improvements as well as meaningful share buybacks have driven stronger free funds flow per share," said Rich Kruger, Suncor president and chief executive officer. "The board of directors' confidence in improving operating performance and the strengthening of our financial position supports increasing the quarterly dividend as part of our commitment to increasing shareholder returns."

The dividend will be payable Dec. 24, 2024, to shareholders of record at the close of business on Dec. 3, 2024.

About Suncor Energy Inc.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the company's Petro-Canada retail and wholesale distribution networks (including Canada's Electric Highway, a coast-to-coast network of fast-charging electric vehicle stations). Suncor is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares are listed on the Toronto Stock Exchange and New York Stock Exchange.