Exhibit 99.1

  News Release

FOR IMMEDIATE RELEASE

Suncor Energy declares dividend

All financial figures are in Canadian dollars.

Calgary, Alberta (Aug. 4, 2022) – Suncor (TSX: SU) (NYSE: SU) Energy’s Board of Directors has approved a quarterly dividend of $0.47 per share on its common shares, payable September 26, 2022 to shareholders of record at the close of business on September 2, 2022.

Suncor Energy is Canada's leading integrated energy company. Suncor’s operations include oil sands development and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S., and the company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, 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 investment in power, renewable fuels and hydrogen.  Suncor also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.  Suncor has been recognized for its performance and transparent reporting on the Dow Jones Sustainability index, FTSE4Good and CDP.  Suncor is also listed on the UN Global Compact 100 stock index.  Suncor’s common shares (symbol:  SU) are listed on the TSX and NYSE.

– 30 –

For more information about Suncor, visit our web site at suncor.com or follow us on Twitter @Suncor.

Media inquiries: 833-296-4570 media@suncor.com Investor inquiries: 800-558-9071 invest@suncor.com  

Suncor Energy

150 6 Avenue S.W. Calgary, Alberta T2P 3E3

suncor.com