Suncor Energy Reports Voting Results from Annual General Meeting

Rhea-AI Summary

Suncor Energy (NYSE: SU) held its Annual General Meeting in Calgary with approximately 70.29% of outstanding common shares represented. Shareholders elected eleven board members with strong approval ratings ranging from 94.68% to 99.19%. Key meeting outcomes included: appointment of KPMG LLP as auditors, 97.06% approval of executive compensation approach, and rejection (98.50% against) of a proposal requesting a report on Net Zero 2050 commitment costs.

Suncor Energy, Canada's leading integrated energy company, operates across oil sands development, offshore production, refining, and retail distribution through Petro-Canada networks. The company is actively balancing petroleum resource development while transitioning to low-emissions operations through investments in power and renewable fuels.

Calgary, Alberta--(Newsfile Corp. - May 6, 2025) - Suncor Energy (TSX: SU) (NYSE: SU) held its Annual General Meeting in Calgary today. A total of 868,548,152 shares (approximately 70.29% of outstanding common shares) were represented in person or by proxy.

Shareholders voted as follows on the matters before the meeting:

1. Shareholders elected the following eleven board members (ten of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows:

   1. Ian R. Ashby 98.77%
   2. Patricia M. Bedient 98.54%
   3. Russell Girling 97.06%
   4. Jean Paul (JP) Gladu 98.17%
   5. Richard M. Kruger 99.19%
   6. Brian P. MacDonald 98.59%
   7. Lorraine Mitchelmore 94.68%
   8. Jane L. Peverett 98.43%
   9. Daniel Romasko 98.55%
   10. Christopher R. Seasons 98.65%
   11. M. Jacqueline Sheppard 98.26%
       
       

2. Shareholders appointed KPMG LLP as Suncor's auditors.

3. Management's approach to executive compensation (say on pay) disclosed in Suncor's management proxy circular dated February 26, 2025 was approved with 97.06% of shares represented at the meeting voting in favour.

4. The resolution requesting Suncor commission and issue a report to itemize the impacts and quantify the costs of its commitment to achieve Net Zero by 2050 was denied with 98.50% of shares represented at the meeting voting against the proposal, in line with management's recommendation.

Note: the biographies of Board members and further details about Suncor's corporate governance practices are available at suncor.com.

An archive of the webcast of the meeting will be available for the next 90 days at suncor.com/webcasts.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company's Petro-Canada^TM retail and wholesale distribution networks (including Canada's Electric Highway^TM, a coast-to-coast network of fast-charging EV stations). Suncor is developing petroleum resources while advancing the transition to a low-emissions future through investments in power and renewable fuels. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information about Suncor, visit our website at suncor.com.

Media inquiries:
(833) 296-4570
media@suncor.com

Investor inquiries:
invest@suncor.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251038

FAQ

What were the key voting results at Suncor Energy's (SU) 2025 Annual General Meeting?

At Suncor's 2025 AGM, shareholders elected eleven board members with approval ratings between 94.68-99.19%, approved executive compensation with 97.06% support, and rejected a Net Zero 2050 cost report proposal with 98.50% voting against it.

Who are the new board members elected at Suncor's (SU) 2025 AGM?

Eleven board members were elected: Ian Ashby, Patricia Bedient, Russell Girling, Jean Paul Gladu, Richard Kruger, Brian MacDonald, Lorraine Mitchelmore, Jane Peverett, Daniel Romasko, Christopher Seasons, and M. Jacqueline Sheppard.

What was the shareholder participation rate at Suncor's (SU) 2025 Annual Meeting?

A total of 868,548,152 shares, representing approximately 70.29% of Suncor's outstanding common shares, were represented in person or by proxy at the 2025 Annual General Meeting.

How did shareholders vote on Suncor's (SU) Net Zero 2050 report proposal?

Shareholders voted against the proposal requesting a report on Net Zero 2050 commitment costs, with 98.50% of shares voting against it, aligning with management's recommendation.