Suncor Energy (SU) Responds to Elliott Investment Management

Calgary, Alberta--(Newsfile Corp. - April 28, 2022) - Suncor (TSX: SU) (NYSE: SU) today issued the following statement in response to the letter it received this morning from Elliott Investment Management L.P. ("Elliott"):

The Suncor Board and management team have received the letter and materials from Elliott. Suncor appreciates the views of its shareholders and will take the time to carefully assess the recommendations and materials provided, with a view to enhancing shareholder and other stakeholder value. Suncor's Board and management team looks forward to engaging with Elliott in due course to better understand their perspective.

We remain confident in the Company's strategy for continued growth and will continue to execute our strategic plan and evaluate opportunities to enhance shareholder value.

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