Page 39 - Suncor Report on Sustainability 2014 - English

Suncor: report on sustainability 2014 37

Legal notice

Forward-looking statements – Suncor’s 2014 Report on sustainability, including the print and online version (the “publication”), contains certain forward-looking information and forward-looking statements
(collectively referred to herein as ‘‘forward-looking statements’’) within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements and other information is based on Suncor’s current
expectations, estimates, projections and assumptions that were made by the company in light of information available at the time the statement was made and consider Suncor’s experience and its perception of historical
trends, including: expectations and assumptions concerning the accuracy of reserves and resources estimates; commodity prices and interest and foreign exchange rates; capital eficiencies and cost savings; applicable
royalty rates and tax laws; future production rates; the suficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner,
of regulatory and third-party approvals. In addition, all other statements and other information that address expectations or projections about the future, and other statements and information about Suncor’s strategy for
growth, expected and future expenditures or investment decisions, commodity prices, costs, schedules, production volumes, operating and inancial results, future inancing and capital activities, and the expected impact
of future commitments are forward-looking statements. Some of the forward-looking statements and information may be identiied by words like ‘‘expects’’, ‘‘anticipates’’, ‘‘will’’, ‘‘estimates’’, ‘‘plans’’, ‘‘scheduled’’,
‘‘intends’’, ‘‘believes’’, ‘‘projects’’, ‘‘indicates’’, ‘‘could’’, ‘‘focus’’, ‘‘vision’’, ‘‘goal’’, ‘‘outlook’’, ‘‘proposed’’, ‘‘target’’, ‘‘objective’’, ‘‘continue’’, ‘‘should’’, ‘‘may” and other similar expressions.
Forward-looking statements in the publication include references to: Suncor’s missions, visions and strategies, including to be Canada’s premier integrated energy company and to get the most value from its resources;
developments around renewable energy, technology and innovation (including planned investments and Suncor’s aim for performance improvements when it comes to new technology of at least 25 per cent in
production, proitability, operational eficiency or environmental impact, and that technology and innovation will help lower the costs and energy intensity associated with production); Suncor’s environmental goals to
be achieved by 2015 (as compared to a baseline year of 2007), including improving energy eficiency by 10 per cent, achieving absolute reductions in fresh water consumption by 12 per cent and air emissions (nitrogen
oxides, sulphur oxides and volatile organic compounds) by 10 per cent and increasing land reclaimed by 100 per cent; Suncor’s goals and expectations around the rollout of EMS, EIMS and OEMS; Suncor’s TROtailings
TM
management approach, which is expected to, among other things, reduce the number of tailings ponds at our current mine site and that progressively reclaiming tailings ponds will allow us to reclaim the entire mine site
faster; Suncor’s environmental, renewable energy and tailings goals and planned activities for 2014-2015 identiied on pages 14 and 15 of the print version of the publication and Suncor’s social goals and planned activities
identiied on pages 30 and 31 of the print version of the publication; Suncor’s expectations (including results) around technologies being introduced or that may be introduced across Suncor, including those related to the
re-use of tailings waters, surfactants, lubricants, oxyfuel and carbon capture, waterless extraction and electromagnetic technology; plans to be undertaken by organizations Suncor is involved with, including COSIA; the
goal to return all disturbed lands to a self-sustaining, boreal forest ecosystem; Suncor’s belief that it will have two additional wind power projects in 2015, which are expected to increase total installed wind capacity to
395 MW; anticipated future emissions and intensities of emissions, including GHG emissions; Suncor’s views around market access for its production; Suncor’s expectation that its seventh wind power project will be
operational in late 2014, and, subject to regulatory approvals, its eighth wind power project is expected to follow in 2015; Suncor’s goal for emissions from its production to be on par with, or lower than, other sources of
oil; Suncor’s goals around safety; Suncor’s expectation that it will achieve an overall reduction in its river water withdrawal of about 65 per cent as compared to 2007; the plan for Fort Hills to begin producing in 2017, that
it will be a signiicant source of cash low, contribute strong returns over the long-term and that it is one of the best undeveloped oil sands mining assets in the Athabasca region; plans around Suncor’s Water Technology
Development Centre, including that its construction is to begin in 2015 and certain targeted beneits identiied herein; capacity increases at Oil Sands are expected to be achievable through low-cost ‘debottlenecking’ and
expansion projects; irst oil from Golden Eagle is expected in late 2014 or early 2015; and irst oil from Hebron is expected in 2017.
Forward-looking statements and information are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to
Suncor. Suncor’s actual results may differ materially from those expressed or implied by its forward-looking statements, so readers are cautioned not to place undue reliance on them.
Risks, uncertainties and other factors that could inluence inancial and operating performance of all of Suncor’s operating segments and activities include, but are not limited to, changes in general economic, market and
business conditions, such as commodity prices, interest rates and currency exchange rates; luctuations in supply and demand for Suncor’s products; the successful and timely implementation of capital projects, including
growth projects and regulatory projects; competitive actions of other companies, including increased competition from other oil and gas companies or from companies that provide alternative sources of energy; labour
and material shortages; actions by government authorities, including the imposition of taxes or changes to fees and royalties, and changes in environmental and other regulations; the ability and willingness of parties with
whom we have material relationships to perform their obligations to us; the occurrence of unexpected events such as ires, equipment failures and other similar events affecting Suncor or other parties whose operations
or assets directly or indirectly affect Suncor; the potential for security breaches of Suncor’s information systems by computer hackers or cyberterrorists, and the unavailability or failure of such systems to perform as
anticipated as a result of such breaches; our ability to ind new oil and gas reserves that can be developed economically; the accuracy of Suncor’s reserves, resources and future production estimates; market instability
affecting Suncor’s ability to borrow in the capital debt markets at acceptable rates; maintaining an optimal debt to cash low ratio; the success of the company’s risk management activities using derivatives and other
inancial instruments; the cost of compliance with current and future environmental laws; risks and uncertainties associated with closing a transaction for the purchase or sale of an oil and gas property, including estimates
of the inal consideration to be paid or received, the ability of counterparties to comply with their obligations in a timely manner and the receipt of any required regulatory or other third-party approvals outside of Suncor’s
control that are customary to transactions of this nature; and the accuracy of cost estimates, some of which are provided at the conceptual or other preliminary stage of projects and prior to commencement or conception

of the detailed engineering that is needed to reduce the margin of error and increase the level of accuracy. The foregoing important factors are not exhaustive.
Suncor’s management’s discussion and analysis (“MD&A”) for the irst quarter of 2014 dated April 28, 2014 and its Annual Information Form dated February 28, 2014, Form 40-F and Annual Report to Shareholders and
other documents it iles from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could inluence actual results and such factors are incorporated
herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3E3, by calling 1-800-558-9071, or by email request to info@suncor.com or by
referring to the company’s proile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
Non-GAAP measures – Certain inancial measures in the publication – namely cash low from operations, operating earnings and oil sands cash operating costs (excluding Syncrude) per barrel – are not prescribed by
Canadian generally accepted accounting principles (“GAAP”). These non-GAAP measures are deined and reconciled in Suncor’s MD&A for the year ended Dec. 31, 2013.

These non-GAAP inancial measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. These non-GAAP inancial measures are
included because management uses the information to analyze operating performance, leverage and liquidity, and should not be considered in isolation or as a substitute for measures of performance prepared in
accordance with GAAP.
Reclamation – Reclamation at Suncor is a carefully monitored process with two distinct components: (i) transformation of the area, including tailings ponds, into a solid material that can support vegetation, wildlife and
landscape restoration, which includes landform design and soil placement; and (ii) re-vegetation in a way that the reclaimed landscape can support vegetation and wildlife as a self-sustaining ecosystem. When Suncor
claims that it has reclaimed land or plans to reclaim land, the reclaimed land will have met or is intended to meet the two distinct components identiied in this paragraph.
BOEs – Certain natural gas volumes have been converted to barrels of oil equivalent (boe) on the basis of one barrel to six thousand cubic feet. Any igure presented in boe may be misleading, particularly if used in
isolation. A conversion ratio of one barrel of crude oil or natural gas liquids to six thousand cubic feet of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is signiicantly different from the energy equivalency of 6:1, utilizing a conversion
on a 6:1 basis may be misleading as an indication of value.

Partnerships – The use of Partnership throughout the document does not necessarily mean a partnership in the legal context.
M Trademark of Suncor Energy Inc.

We are a registered Organizational Stakeholder of the
Global Reporting Initiative (GRI) and support the mission of
the GRI to develop globally accepted sustainability reporting
guidelines through a global, multi-stakeholder process.