All financial figures are in Canadian dollars.

Calgary, Alberta--(Newsfile Corp. - August 14, 2023) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.52 per share on its common shares, payable Sept. 25, 2023 to shareholders of record at the close of business on Sept. 1, 2023.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the U.S. and the company's Petro-Canada retail and wholesale distribution networks, including Canada'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 and renewable fuels. 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 North America Index, FTSE4Good Index and CDP. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

- 30 -

For more information about Suncor, visit our web site at suncor.com.

Media inquiries:
833-296-4570
media@suncor.com

Investor inquiries:
800-558-9071
invest@suncor.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177220