On June 4, 2024, Suncor Energy Inc. issued a base shelf prospectus, enabling it to offer unsecured medium-term notes (MTNs) over a 25-month period in Canada. Issued as part of Suncor’s medium-term note program under National Instrument 44-102, the MTNs will feature terms—such as interest rates, currency, and maturity periods—determined at the time of issuance and detailed in prospectus supplements. The notes will rank equally with Suncor’s other senior unsecured debt obligations.

The offering is supported by a syndicate of prominent Canadian dealers, including ATB Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., J.P. Morgan Securities Canada Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc., Morgan Stanley Canada Limited, RBC Dominion Securities Inc., Scotia Capital Inc., SMBC Nikko Securities Canada, Ltd., and TD Securities Inc. acting as underwriters and agents, with Suncor able to appoint additional dealers as needed.

Blake, Cassels & Graydon LLP is advising Suncor on legal matters, while McCarthy Tétrault LLP represents the dealers. Suncor intends to use the net proceeds for general corporate purposes, which may include debt repayment, capital expenditures, and operational funding. The MTNs will not be listed on any exchange, so there may be limited secondary market liquidity for the notes.