Suncor’s Big RocksA REVIEW OF MINE PRODUCTIVITY INITIATIVESSME February 2008, Salt Lake CityPresented by Erik Jones

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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

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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

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Suncor Operating Areas

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Suncor Products

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Suncor’s VisionFocus 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

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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.

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High Quality Leases

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Quality & quantity of leases

Mining leases 6 billion barrels In-situ leases 9 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.

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Oil Sands – Base plant

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Oil Sands - Mining

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Oil Sands - Extraction

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Oil Sands - Upgrading

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Oil Sands - In-situ

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Steam heatsoil sands

SteamChamber

Bitumen &Water

SAGDIn-situprocess

Heated bitumenflows to well

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Suncor StrategyTo provide greaterreliability and flexibility to ourfeedstock supplies, we producebitumen through our own miningand in-situ recovery technologies,and supplement that supplythrough third party agreements.

We produce conventional natural gas as a price hedge against the cost ofenergy 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.

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0

50

100

150

200

250

300

SaudiArabia

Canada Iran Iraq Kuwait Venezuela Russia U.S.A.

Billions of barrels of oil

Source: Oil & Gas Journal Dec. 2006

Global Crude Reserves

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Industry Projected Oil Sands ProductionMillions of barrels per day

Source:CAPP, RIWG, Alberta Chamber of Resources

0

1

2

3

4

5

2004 2006 2010 2015 2020 2030

5 million +

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Sustainable Development Safely and responsibly supplying energy in a manner

that meets the environmental, economic and social expectations of stakeholders

Thinking broadly and takinga long-term view of ourbusiness risks andopportunities

Increasing shareholdervalue over the long-term

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Mine Productivity initiatives Loading Haulage Tires

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MINING – OPPORTUNITY CLASSIFICATIONHigh 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

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Shovel Operator Performance

Ope

rato

rs

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%

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HAUL TRUCK LOADING PERFORMANCE- 2007

2007 Average Shift Loading Profile

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

0.55 0.60 0.65 0.70 0.75 0.80 0.85 0.90 0.95 1.00 1.05 1.10 1.15 1.20 1.25 1.30

% of Rated Payload

Perc

enta

ge o

f Occ

uran

ces

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

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Truck Productivity

ACTUAL

LINEAR

POWER

Fit

Increasing Distance

In

crea

sing

T/G

OH

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Truck ProductivitySeasonal Truck Speeds 2003 - 2007

20.00

22.00

24.00

26.00

28.00

30.00

32.00

34.00

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Month

Truc

k Sp

eed

(km

/h)

2003

2005

2007

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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

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Tire Life ImprovementHistorical Giant Tire Life

8,789

10,494

5,798 5,942

6,6636,938

4,134

5,069

5,8265,309

9,445

12,248

0

2000

4000

6000

8000

10000

12000

14000

2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007

40.00R57 (Cat 793) 53/80R63 (Komatsu 930E) 59/80R63 (Cat 797)

GO

H

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

value