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$TPII - Syncrude - Suncor (SU NYSE - $33/share):

SU Mkt Cap: 44,760,120,000

https://www.otcmarkets.com/filing/html?id=15601488&guid=oDFwkFjYHsn0Qth#SU-20211231XEX99D1_HTM_CORPORATE_STRUCTURE

Syncrude refers to Suncor’s 58.74% interest in the oil sands mining and upgrading operation, which the company operates. Suncor assumed the role of operator of the Syncrude joint operation on September 30, 2021.

Interconnecting pipelines between Suncor’s Oil Sands Base and Syncrude. The interconnecting pipelines, which connect Syncrude’s Mildred Lake site and Suncor’s Oil Sands Base operations, enhance integration between these assets and provide increased

Suncor to assume operatorship of Syncrude. In the fourth quarter of 2020, the Syncrude joint venture owners reached an agreement in principle for Suncor to take over as operator of the Syncrude joint operation by the end of 2021. Suncor assumed the role of operator on September 30, 2021.

From Syncrude: 159 mbbls/d of SCO, which represents approximately 22% of total estimated production for 2022.

Syncrude to Accept Delivery of Test Unit

Syncrude-Canada's largest producer of synthetic crude oil from oil sands-was amongst the earliest customers to attend EEL demonstrations. Representatives expressed a strong interest in the genset, particularly the unique ability of its eCell to operate at extreme temperatures well beyond the limits at which lithium-based battery technology degrades.

Syncrude will now accept delivery of the unit on March 1, 2022. TPII intends to attend delivery and observe the commencement of testing, which is expected to continue over a two-week period.

Syncrude's initial trial period will be limited to a single application. However, it has also expressed interest in taking delivery of further EEL genset units for testing in additional applications. TPII is currently working to provide Syncrude with units for a second application.




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