Page 78 - AIF - English

RISK FACTORS

marketing of refined petroleum products. We compete in Control Environment

virtually every aspect of our business with other energy Based on their evaluation as of December 31, 2013, our
companies. The petroleum industry also competes with CEO and Interim Chief Financial Officer concluded that our

other industries in supplying energy, fuel and related disclosure controls and procedures (as defined in
products to consumers. We believe the primary competition Rules 13a-15(e) and 15d-15(e) under the United States

for our crude oil production is other major international oil Securities Exchange Act of 1934, as amended
and natural gas producers and integrated companies.
(the Exchange Act)) are effective to ensure that information

For Suncor’s Oil Sands segment, a number of other required to be disclosed by the company in reports that are
companies have entered, or have indicated their intention filed or submitted to Canadian and U.S. securities

to enter, the oil sands business and begin producing authorities is recorded, processed, summarized and
bitumen and SCO, or expand their existing operations. It is reported within the time periods specified in Canadian and

difficult to assess the number, level of production and U.S. securities laws. In addition, as of December 31, 2013,
ultimate timing of all potential new projects or when there were no changes in our internal control over financial

existing production levels may increase. During recent reporting (as defined in Exchange Act Rules 13a-15(f)
years, a global focus on the oil sands through increasing and 15d-15(f)) that occurred during the year ended
December 31, 2013 that have materially affected, or are
industry consolidation that has created competitors with
financial capacity has significantly increased the supply of reasonably likely to materially affect, the company’s internal
control over financial reporting. Management will continue
bitumen, SCO and heavy crude oil in the marketplace. The
impact of this level of activity on regional infrastructure, to periodically evaluate the company’s disclosure controls
and procedures and internal controls over financial
including pipelines, has placed stress on the availability and
cost of all resources required to build and run new and reporting and will make any modifications from
time-to-time as deemed necessary.
existing oil sands operations.
As a result of current unrest in Syria, Suncor is not able to
For Suncor’s Refining and Marketing businesses,
management expects that fluctuations in demand for monitor the status of all of its assets in this country,
including whether certain facilities have suffered damage.
refined products, margin volatility and overall marketplace
competitiveness will continue. In addition, to the extent Suncor is continually assessing the control environment in
Syria to the extent permitted by applicable law and does
that our downstream business unit participates in new
product markets, it could be exposed to margin risk and not consider the changes in that country to have had a
material impact on the company’s overall internal control
volatility from either cost and/or selling price fluctuations.
over financial reporting.
Land Claims
Based on their inherent limitations, disclosure controls and
First Nations people have claimed Aboriginal title and rights procedures and internal controls over financial reporting
to portions of Western Canada. In addition, First Nations
may not prevent or detect misstatements, and even those
people have filed claims against industry participants controls determined to be effective can provide only
relating in part to land claims, which may affect our reasonable assurance with respect to financial statement

business. At the present time, we are unable to assess the preparation and presentation.
effect, if any, that these land claims may have on

our business.

DIVIDENDS

The Board of Directors has established a policy of paying dividends on a quarterly basis. We review our dividend policy

from time-to-time with regard to our financial position, financing requirements for growth, cash flow and other factors
which our Board of Directors considers relevant. The Board approved an increase in the quarterly dividend to $0.20 per

share from $0.13 per share in the second quarter of 2013. In February 2014, the Board of Directors approved a per share
increase of $0.03 to Suncor’s quarterly dividend to $0.23 per common share. Dividends are paid subject to applicable law,
if, as and when declared by the Board.

Year ended December 31 2013 2012 2011

Cash dividends per common share ($) 0.73 0.50 0.43

76 SUNCOR ENERGY INC. ANNUAL INFORMATION FORM 2014