Mine Your Own Business - Oil Sands Mining Monthly Performance Tracker

Research evidence excerpt

Mine Your Own Business - Oil Sands Mining Monthly Performance Tracker

TD SECURITIES INC. - CANADA SECTOR NOTE

June 30, 2026

■Energy Producers - Seniors & Integrateds Mine Your Own Business - Oil Sands Mining

Monthly Performance Tracker

Menno Hulshof, CFA^ THE TD COWEN INSIGHT

403 299 8658

The following charts summarize the key performance characteristics of producing oil sands

menno.hulshof@tdsecurities.com

mining projects. Since the release of regulatory data is not timely (subject to a three-month

Taylor Kent^ delay), the objective of this monthly report is to provide a long-term perspective on how these

403 299 3272 projects compare with one another on the basis of key, public operating parameters.

taylor.kent@tdsecurities.com

Jeremy De Souza, CPA^ The latest available data is for March. We highlight the key short-term and long-term trends

403 292 1212 below, and highlight our Fort McMurray spring melt note for potential production impacts to

jeremy.desouza@tdsecurities.com 2Q26 mining results.

1. Total mined bitumen volumes increased ~2% m/m to ~1.7 mmbbl/d in March. SCO currently

trades at a ~US$16/bbl premium to WTI, while WCS diffs are currently ~US$14/bbl. Mined

bitumen accounted for ~49% of total oil sands production (~3.4 mmbbl/d) and ~34% of total

Canadian oil production (including East Coast offshore). Including in situ bitumen, oil sands

production accounted for ~70% of total Canadian oil production.

2. Syncrude utilization increased to 79% in March (+8% m/m) as production recovered to 275

mbbl/d following coker-related downtime in Feb. Importantly, Suncor elected to defer planned

2Q26 turnaround activity (~35 mbbl/d quarterly impact) into 3Q26, supporting stronger

near-term production. While NGTL outages created some operational headwinds in March,