SUPPLEMENTARY CASH FLOW INFORMATION

9 Months Ended

Sep. 30, 2026

Disclosure Of Supplementary Cash Flow Information [Abstract]

SUPPLEMENTARY CASH FLOW INFORMATION



23. SUPPLEMENTARY CASH FLOW INFORMATION

A) Working Capital


			September 30,						December 31,
As at			2026						2025
Total Current Assets			15,295						9,890
Total Current Liabilities			9,349						6,314
Working Capital			5,946						3,576

B) Changes in Non-Cash Working Capital


			Three Months Ended												Nine Months Ended
For the periods ended September 30,			2026						2025						2026						2025
Accounts Receivable and Accrued Revenues			(902)						(177)						(1,864)						(542)
Income Tax Receivable			54						6						378						172
Inventories			(97)						(19)						(1,054)						421
Accounts Payable and Accrued Liabilities			841						(188)						1,116						(186)
Income Tax Payable			840						(22)						1,693						(304)
Total Change in Non-Cash Working Capital			736						(400)						269						(439)

Net Change in Non-Cash Working Capital – Operating Activities			624						(241)						170						(179)
Net Change in Non-Cash Working Capital – Investing Activities			112						(159)						99						(260)
Total Change in Non-Cash Working Capital			736						(400)						269						(439)

C) Reconciliation of Liabilities

The following table provides a reconciliation of liabilities to cash flows arising from financing activities:


			Dividends Payable																		Repurchase Agreements Payable												Short-Term Borrowings						Long-Term Debt						Lease Liabilities
As at December 31, 2024			—																		—												173						7,534						2,927
Acquisition			—																		—												—						12						—
Changes From Financing Cash Flows:
Net Issuance (Repayment) of Short-Term Borrowings			—																		—												152						—						—
Repayment of Long-Term Debt			—																		—												—						(195)						—
Principal Repayment of Leases			—																		—												—						—						(266)
Proceeds on Repurchase Agreements			—																		403												—						—						—
Repayment of Repurchase Agreements			—																		(220)												—						—						—
Dividends Paid			(1,057)																		—												—						—						—


Non-Cash Changes:

Divestiture of Short-Term Borrowings			—																		—												(313)						—						—
Finance and Transaction Costs			—																		—												—						(15)						—

Lease Additions			—																		—												—						—						162
Lease Divestitures			—																		—												—						—						(39)
Base Dividends Declared on Common Shares			1,047																		—												—						—						—

Dividends Declared on Preferred Shares			12																		—												—						—						—

Exchange Rate Movements and Other			—																		(7)												(12)						(180)						88
As at September 30, 2025			2																		176												—						7,156						2,872

As at December 31, 2025			—																		401												—						11,032						3,175

Changes From Financing Cash Flows:


Repayment of Long-Term Debt			—																		—												—						(2,700)						—
Principal Repayment of Leases			—																		—												—						—						(272)
Proceeds on Repurchase Agreements (1)			—																		1,104												—						—						—
Repayment of Repurchase Agreements (1)			—																		(1,006)												—						—						—





Dividends Paid			(1,193)																		—												—						—						—
Non-Cash Changes:

Finance and Transaction Costs			—																		—												—						8						—

Lease Additions			—																		—												—						—						43
Lease Divestitures			—																		—												—						—						(3)
Lease Modifications			—																		—												—						—						28
Base Dividends Declared on Common Shares			1,191																		—												—						—						—

Dividends Declared on Preferred Shares			2																		—												—						—						—
Exchange Rate Movements and Other			—																		(16)												—						207						32
As at September 30, 2026			—																		483												—						8,547						3,003

(1)Includes proceeds and repayments of $843 million and $745 million, respectively, that primarily relate to RINs.