1. Suncor’s Big Rocks A REVIEW OF MINE PRODUCTIVITY INITIATIVES SME February 2008, Salt Lake City Presented by Erik Jones

2. 2 Legal Notice  This investor presentation contains certain forward-looking statements, including statements about Suncor's growth strategy and expected future production, operating and financial results that are based on Suncor's current expectations and assumptions. The forward-looking statements, identified by words such as “targets”, “estimates”, “anticipated”, “plans”, “vision”, “strategy”, “opportunity”, “projected” and “objectives”, are not guarantees of future performance. Actual results may differ materially as a result of risks, uncertainties and other factors, such as changes in general economic, market, regulatory and business conditions; fluctuations in commodity prices and currency exchange rates; the successful and timely implementation of capital projects; the accuracy of cost estimates and uncertainties resulting from potential delays or changes in plans, among others. See Suncor's current Annual Report and other documents Suncor files with securities regulatory authorities for further details, copies of which are available from the company. The forward-looking statements speak only as of the date hereof and Suncor undertakes no duty to update these statements to reflect subsequent changes in assumptions (or the trends or factors underlying them) or actual events or experience.  Certain financial measures referred to in this presentation, namely return on capital employed (ROCE) and cash flow from operations, are not prescribed by Canadian generally accepted accounting principles (GAAP). For a reconciliation, see pages 58, 76 and 77 of Suncor’s 2007 Annual Report.  A boe conversion ratio of six thousand cubic feet of natural gas: one barrel of crude oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Accordingly, boe’s may be misleading if used in isolation.  Unless noted otherwise, financial information is for the most recent quarter or year end.  All dollar amounts are in Canadian dollars unless otherwise noted

3. 3 Suncor Energy at a Glance  Integrated energy company – upstream, refining and marketing, pipelines and wind power  Market capitalization about $45 billion  Original and single largest investor in the Athabasca oil sands – 40 years experience  Best growth rate in the oil sands industry:  current production capacity of 260,000 bpd  plan to increase capacity by 35% to 350,000 bpd in 2008  plan to increase capacity by 57% to 550,000 bpd in 2012  More than 6,500 employees  Sustainability: benefiting all stakeholders

4. 4 Suncor Operating Areas 4

5. 5 Suncor Products

6. 6 Suncor’s Vision Focus on growth & delivering value  “To be a unique and sustainable energy company, dedicated to vigorous growth by meeting or exceeding the changing expectations of our current and future stakeholders.”  Increase production to more than 1/2 million barrels of oil per day in 2010 to 2012  Create long-term shareholder value

7. 7 Oil Sands - the Resource  Thick, sticky mixture of sand, water and bitumen  Suncor leases cover close to 2,000 square kilometers or about 1,200 square miles  Remaining recoverable resources in place to produce a potential 15 billion* barrels of crude oil * Suncor data includes proved plus probable reserves and contingent resources, as of December 31, 2006 which is not comparable to most competitors.

8. 8 High Quality Leases

9. 9 Quality & quantity of leases  Mining leases6 billion barrels  In-situ leases9 billion barrels 15 billion barrels presented on a gross basis evaluated as at December 31, 2006. 2006 remaining recoverable resources “Remaining recoverable resources” is the total of reserves and contingent resources. The term “resources” refers to a best estimate of remaining recoverable resources, which is the sum of proved plus probable reserves and best estimate “contingent resources”, presented on a gross basis as barrels of synthetic crude oil converted from barrels of bitumen. “Contingent resources” are Suncor’s independent reserve evaluators’ best estimate of resources they consider to be potentially recoverable from known accumulations under reasonable economic and operating conditions for areas of our oil sands deposits not classified as reserves. These areas are not classified as reserves due to the absence of a firm plan to develop within a reasonable time frame and due to higher uncertainty as a result of lower core-hole drilling density. As U.S. companies are prohibited from disclosing estimates of probable reserves for non-mining properties and resources for oil and gas or mining properties, Suncor’s resource estimates will not be comparable to those made by U.S. companies. For a description of constant cost and pricing assumptions used to evaluate the proved and probable reserves included in our resource estimate, and a description of our reserves under U.S. reporting requirements, see pages 35 to 38.of Suncor’s 2006 Annual Report.

10. 10 Oil Sands – Base plant

11. 11 Oil Sands - Mining

12. 12 Oil Sands - Extraction

13. 13 Oil Sands - Upgrading

14. 14 Oil Sands - In-situ

15. 15 Steam heats oil sands Steam Chamber Bitumen & Water SAGD In-situ process Heated bitumen flows to well

16. 16 Suncor Strategy To provide greater reliability and flexibility to our feedstock supplies, we produce bitumen through our own mining and in-situ recovery technologies, and supplement that supply through third party agreements. We produce conventional natural gas as a price hedge against the cost of energy consumption. Our investments in renewable wind energy and biofuels are a key part of Suncor’s climate change action plan. A staged approach to increasing our crude oil production capacity allows Suncor to better manage capital costs and incorporate new ideas and new technologies into our facilities. Suncor takes an active role in connecting supply to consumer demand with a diverse portfolio of products, downstream assets and markets.

17. 17 Billions of barrels of oil Source: Oil & Gas Journal Dec. 2006 Global Crude Reserves

18. 18 Industry Projected Oil Sands Production Millions of barrels per day Source:CAPP, RIWG, Alberta Chamber of Resources 5 million +

19. 19 Sustainable Development  Safely and responsibly supplying energy in a manner that meets the environmental, economic and social expectations of stakeholders  Thinking broadly and taking a long-term view of our business risks and opportunities  Increasing shareholder value over the long-term

20. 20 Mine Productivity initiatives  Loading  Haulage  Tires

21. 21 MINING – OPPORTUNITY CLASSIFICATION High priority  Low  High  More difficult  Easier  Ease of implementation  Value Haul road quality  Prioritized opportunity list Mine- extraction interface (blending) Truck utilization Lump-reduction (Extraction OPP breakthrough Load factor Truck availability Dyke construction Improved PM Labor efficiency Ops practices  Improve haul road quality  Mining-Extraction interface  Lump reduction initiatives  Truck fleet effectiveness  Availability  Utilization

22. 22 CLOSING THE GAP IN SHOVEL OPERATOR PERFORMANCE- 2007 Shovel operator performance Tonnes/NOH  More consistent High end performance, Over 30% of all operators are meeting or exceeding performance standard  Since 2005, we have doubled the amount of operators able to meet the standard  An additional 10% increase will yield an additional 30 Mt/year  Expected improvement  Current average Highest Lowest *Expected improvement calculated by raising group average to average of the eighth, ninth and tenth top operators' performance; assume 75% of operators can reach target 10%

23. 23 HAUL TRUCK LOADING PERFORMANCE- 2007  38% Underloads (<90%)  2% Overloads (>110%)  Load factor  Avg.  Almost 40% of loads are below 90% capacity  New operators  Tire Shortage  Longer hauls  Improved Overload percentage  More consistent loading practices, over 75% of loads are within +/- 15% of target  Tighter control and a feedback loop may be necessary to improve loading performance

24. 24 Truck Productivity  Increasing Distance   Increasing T/GOH 

25. 25 Truck Productivity

26. 26 Tire life initiatives  A cross-functional group - operations, technical, maintenance, and SCM personnel with initiatives on 3 fronts:  1) Technical Oriented Initiatives:  Working with manufacturer’s to improve the tire technology (targeting failure areas)  Using Dispatch to monitor TKPH ratings on our tires  Purchasing tires specifically designed for our current mining world (C4 compound)  Communication – Tire CBTs, poster campaigns, one-on-one talks  Sharing of best-practices with LTUG (represents about 20 mining companies in NA)  2) Supply Oriented Initiatives:  Working with manufacturer’s to increase our deliveries  Purchasing used tires  Purchasing bias-ply tires  3) Operational Oriented Initiatives:  Increasing contractor tonnages  Trialing other trucks (with tires)  Support Equipment Additions  Responsible loading and responsible driving practices

27. 27 Tire Life Improvement

28. 28 In Summary  Sustainable, profitable growth  Use of new technologies and development of old  Continue into the future with Safety as our number one value