WEST PALM BEACH, Fla., Aug. 6, 2026 /CNW/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together hold a significant investment in Suncor Energy, Inc. $(SU)$ ("Suncor" or the "Company"), today issued the following statement:

Elliott congratulates Rich Kruger on his announced upcoming transition from President and CEO of Suncor to the role of Executive Vice Chair, effective April 2027. We are also confident that Peter Zebedee is the right successor to Rich, and we look forward to the continuity and momentum his appointment as CEO will bring when he assumes the role next year.

Under Rich's leadership, Suncor has undergone a profound transformation -- improving safety, instilling a culture of operational excellence and unlocking substantial value for shareholders. Earlier this year, Rich, Peter and the Suncor team laid out an ambitious three-year plan, which will build upon the historic progress the Company has made on Rich's watch.

We believe Suncor will continue to benefit from Rich's experience and perspectives in his new role, ensuring that the standards and culture he built will continue to define Suncor going forward, while Peter's operational expertise and deep knowledge of the business make him Rich's ideal successor.

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $79.8 billion of assets as of December 31, 2025. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contact:

Casey Friedman

Elliott Investment Management L.P.

(212) 478-1780

cFriedman@elliottmgmt.com

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SOURCE Elliott Investment Management L.P.

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