Suncor Energy reports voting results from Annual General Meeting

Suncor Energy (TSX: SU) held its Annual General Meeting on May 5, 2026, with 842,465,674 shares represented (about 71.05% of outstanding common shares).

Rhea-AI Summary

Suncor Energy (TSX: SU) held its Annual General Meeting on May 5, 2026, with 842,465,674 shares represented (about 71.05% of outstanding common shares).

Shareholders elected ten directors (nine independent) with individual director support ranging from 92.12% to 99.16%, approved management's executive compensation with 94.72% support, appointed KPMG LLP as auditors, and rejected a climate-governance report proposal with 80.39% voting against.

Positive

• 71.05% shareholder turnout at the AGM
• Management's say-on-pay approved with 94.72% support
• KPMG LLP appointed as auditors
• Nine of ten elected directors classified as independent
• Multiple directors received >97% shareholder support

Negative

• Shareholder proposal on climate-related governance rejected with 80.39% voting against
• Two directors received comparatively lower support (~92%) which may concern governance-focused investors

Argus May 6 session

-7.65% close to close Open Argus

Details

News Market Reaction – SU

On May 6, the first trading day after this news, SU closed 7.65% below the previous close.

Data tracked by StockTitan Argus for the May 6 session.

Key Figures

Shares represented: 842,465,674 shares Participation rate: 71.05% of outstanding shares Board size: 10 directors (9 independent) +5 more

Shares represented

842,465,674 shares

At 2026 Annual General Meeting

Participation rate

71.05% of outstanding shares

Attendance in person or by proxy at AGM

Board size

10 directors (9 independent)

Directors elected at 2026 AGM

Director support – Ashby

98.69% in favour

Vote for director Ian R. Ashby

Director support – Kruger

99.02% in favour

Vote for director Richard M. Kruger

Say-on-pay approval

94.72% in favour

Advisory vote on executive compensation at AGM

Climate proposal opposition

80.39% against

Shareholder proposal on climate-related governance

Directors elected

10 board members

Number of directors confirmed at AGM

Historical Context

5 past events · Latest: Apr 21

5 events

1. Apr 21

   Earnings timing update

   24h Move

   +1.0%

   Announced schedule for Q1 2026 results release and webcast.

2. Mar 31

   Investor Day targets

   24h Move

   +0.2%

   Three-year plan with higher 2026 buybacks and free funds flow goals.

3. Mar 17

   Investor Day notice

   24h Move

   +1.1%

   Announced date and webcast details for 2026 Investor Day.

4. Feb 26

   NCIB renewal

   24h Move

   +1.8%

   Filed annual documents and renewed share repurchase authorization.

5. Feb 03

   Earnings results

   24h Move

   -0.6%

   Reported strong Q4 and 2025 results with high production and returns.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

proxy circular, say on pay

2 terms

proxy circular financial

"compensation (say on pay) disclosed in Suncor's management proxy circular dated February 25, 2026"

A proxy circular is a detailed packet sent to shareholders before a company vote that explains the issues to be decided, who is asking for your vote, the board’s recommendation, voting instructions and relevant background information. It matters to investors because it’s the primary source of facts and arguments needed to make informed voting decisions on matters like board elections, mergers or executive pay—think of it as the agenda and briefing notes for a critical company meeting.

say on pay financial

"Management's approach to executive compensation (say on pay) disclosed in Suncor's management proxy circular"

Say on pay is a shareholder vote—typically nonbinding—on a company’s executive compensation package, allowing investors to approve or reject how top managers are paid. Think of it as a public performance review: widespread disapproval can signal poor governance, prompt changes to pay practices, attract activist investors, and influence investor confidence and share value. It matters because it gives owners a direct way to influence compensation that affects company incentives and long-term performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) held its Annual General Meeting in Calgary today. A total of 842,465,674 shares (approximately 71.05% 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 ten board members (nine of whom are independent), with shares represented at the meeting voting in favour of individual directors as follows:

Ian R. Ashby 98.69%
Russell Girling 92.12%
Jean Paul (JP) Gladu 98.61%
Jennifer R. Kneale 99.16%
Richard M. Kruger 99.02%
Brian P. MacDonald 97.54%
Lorraine Mitchelmore 92.78%
Jane L. Peverett 97.98%
Christopher R. Seasons 98.70%
M. Jacqueline Sheppard 98.28%

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 25, 2026 was approved with 94.72% of shares represented at the meeting voting in favour.

4. The resolution requesting Suncor prepare a report detailing the corporation's governance and oversight of its climate-related risks was denied with 80.39% 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 meeting webcast will be available for the next 90 days at https://www.suncor.com/en-ca/investors/events-and-presentations.

Suncor Energy - Canada's leading integrated energy company
Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide Petro-Canada™ retail and wholesale networks - delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. With an unwavering focus on safety, operational excellence, and profitability, Suncor is committed to delivering industry-leading performance and long-term shareholder value. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information, visit suncor.com or find us on LinkedIn, Instagram and Facebook.

Media inquiries: 1-833-296-4570 media@suncor.com

Investor inquiries: invest@suncor.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296099

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Suncor (SU) shares were represented at the May 5, 2026 AGM?

842,465,674 shares were represented, about 71.05% of outstanding common shares. According to the company, shareholders participated in person or by proxy, representing strong turnout for the meeting.

What was the vote result for Suncor's executive compensation (say-on-pay) at the AGM?

Management's approach to executive compensation was approved with 94.72% support. According to the company, shares represented at the meeting voted strongly in favour of the say-on-pay resolution.

Did Suncor (SU) appoint auditors at the May 5, 2026 AGM and who were they?

Yes; shareholders appointed KPMG LLP as Suncor's auditors. According to the company, the appointment was approved by the votes of shares represented at the meeting.

What happened to the shareholder proposal on climate-related governance at the Suncor AGM?

The proposal requesting a climate-governance report was denied, with 80.39% voting against. According to the company, the outcome aligned with management's recommendation to oppose the resolution.

How many directors were elected at Suncor's 2026 AGM and how many are independent?

Ten board members were elected, nine of whom are independent. According to the company, shares represented at the meeting voted in favour of each individual director.

Where can investors watch the Suncor AGM webcast and for how long is it archived?

An archive of the meeting webcast will be available for the next 90 days on Suncor's investor events page. According to the company, the webcast is accessible via suncor.com under events and presentations.