Page 18 - Suncor AR English

DISCLAIMERS

DISCLAIMERS

This Annual Report contains certain forward-looking • Suncor’s investments in technology and innovation

statements within the meaning of applicable Canadian and are expected to lower the costs and energy intensity
U.S. Securities laws and other information based on Suncor’s associated with production;

current expectations, estimates, projections and assumptions • Suncor’s expectation that preventive maintenance
that were made by the company in light of information at Terra Nova will contribute to improved reliability;

available at the time the statement was made and consider • Suncor’s 2014 goals and its expectation that it will
Suncor’s experience and its perception of historical trends, meets its guidance targets;

including expectations and assumptions concerning: the • Suncor’s expectation that 7.7 billion boe of proved
accuracy of reserves and resources estimates; commodity plus probable reserves will provide over 35 years

prices and interest and foreign exchange rates; capital of production at current rates;

eficiencies and cost-savings; applicable royalty rates and tax • Suncor’s expectation that Fort Hills will be a signiicant
laws; future production rates; the suficiency of budgeted and strong, stable source of cash low and contribute to

capital expenditures in carrying out planned activities; the strong returns over the long-term and that the Fort Hills
availability and cost of labour and services; and the receipt, mine life will be 50 years assuming all of the reserves are

in a timely manner, of regulatory and third party approvals. produced; and
In addition, all other statements and other information that • Suncor development plans in 2014.

address expectations or projections about the future, and
other statements and information about Suncor’s strategy Forward-looking statements and information are not

for growth, expected and future expenditures or investment guarantees of future performance and involve a number of
decisions, commodity prices, costs, schedules, production risks and uncertainties, some that are similar to other oil and

volumes, operating and inancial results, future inancing gas companies and some that are unique to Suncor. Suncor’s

and capital activities, and the expected impact of future actual results may differ materially from those expressed or
commitments are forward-looking statements. Some of
implied by its forward-looking statements, so readers are

the forward-looking statements and information may be cautioned not to place undue reliance on them. Many of
identiied by words like “expects”, “anticipates”, “will”,
these risk factors and other assumptions related to Suncor’s

“estimates”, “plans”, “scheduled”, “intends”, “believes”, forward-looking statements and information are discussed in
“projects”, “indicates”, “could”, “focus”, “vision”, “goal”, further detail throughout the MD&A, including under the

“outlook”, “proposed”, “target”, “objective”, “continue”, heading Risk Factors, and the company’s most recent Annual
“should”, “may” and similar expressions. Forward-looking
Information Form/Form 40-F dated February 28, 2014

statements and other information in this Annual Report available at www.sedar.com and www.sec.gov, which risk
include those statements identiied in the Advisories – factors are incorporated by reference herein. Readers are

Forward-Looking Information section of the MD&A also referred to the risk factors and assumptions described

contained in this Annual Report as well as the following:
in other documents that Suncor iles from time to time with
securities regulatory authorities. Copies of these documents

• Suncor’s current portfolio of development projects in are available without charge from the company.
its Exploration and Production segment is expected to

provide value into the next decade;
References to Suncor’s industry-leading position in terms
• Suncor is well-positioned: (i) to fund growth from internal of free cash low are based on Bloomberg data for the

resources while steadily increasing the return of cash to following Canadian peers: Canadian Natural Resources,
shareholders; (ii) for a lengthy run of continued production Canadian Oil Sands, Cenovus, Encana, Husky, Imperial

growth; (iii) to execute on its capital priorities; and (iv) Oil, and Talisman. References to Suncor’s leading position
sustained proitable growth for decades into the future;
on a net earnings per barrel of crude capacity basis for

• Suncor’s expectation that, by the end of 2014, it will its R&M operations amongst its North American peers is

have the ability to move more than 600,000 bbls/d to the applicable for the period between 2010 and 2013, and
company’s reineries and other globally priced markets was compiled by Suncor using publicly reported company

across North America;
information for the following peers: Alon, Chevron (US

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SUNCOR ENERGY INC. ANNUAL REPORT 2013