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3Q08 Earnings Conference Call
      November 6, 2008

                                1
Income (Loss) Before Special Items*, MM$


                                               1Q07         2Q07   3Q07   4Q07   1Q08     2Q08   3Q08
 Refining & Supply                                 76       482    171     43    (123)     32    424
 Non-Refining                                      36        59     65      9     84       47    140
 Corp. & Net Fin.                                (27)       (32)   (20)   (29)   (20)     (18)    (5)
    Income (Loss)
    Before Special Items                           85       509    216     23    (59)      61    559
 EPS (Diluted), Before
 Special Items                                  0.70        4.20   1.81   0.20   (0.50)   0.52   4.78




                                                                                                        2
 * For reconciliation to Net Income (Loss), see Slide 13.
3Q08 Summary
     Net Income excluding special items of $559MM* ($4.78/share)
g


     Refining & Supply earnings of $424MM
g

       0Falling/lower crude oil prices and reduced purchases of
              premium-priced crudes
       0Industry supply constraints due to Gulf Coast storms
       088% utilization with continued focus on optimizing production
              mix during the quarter to meet market demand

     Non-Refining earnings of $140MM
g

       0Falling/lower feedstock costs for Retail Marketing and
              Chemicals
       0Solid contributions from Logistics and Coke

                                                                        3
    * For reconciliation to Net Income, see Slide 13.
Refining & Supply Summary – 3Q08
      3Q08 earnings* of $424MM
 g

        0Declining crude oil prices and reduced purchases of
               premium-priced crudes improved realized margins and
               capture versus benchmarks
        0Gasoline margins expanded rapidly during September as
               hurricane-related refinery outages in the Gulf Coast limited
               product supply in the market

      Operations
 g

        0Net refinery production of 82 MMB (884 MB/D) … limited by
               economics/demand and optimization efforts early in the
               quarter
        0Continued focus on production yield optimization… more
               distillate in July and August with shift to gasoline in
               September
                                                                                        4
* Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
Nigerian Crude Purchases*, MB/D


 400
                      356
                                             337
 350                                                319    306
 300
 250
 200
 150
                                                                  100
 100
   50
     0
                     2006                    2007   1Q08   2Q08   3Q08




                                                                         5
* For use in the Northeast Refining system
3Q08 Refining & Supply Production Mix

                                                                                                          MidContinent
                                       Northeast
                                                                                                         % of Net Production
                               % of Net Production
                        55%                                                                55%
                                                        50.5%
                        50%                                                                50%
                                           Gasoline
% Gasoline/Distillate




                                                                   % Gasoline/Distillate
                              46.6%
                                                                                                                  Gasoline
                        45%                                                                45%
                                           45.6%                                                                                 42.4%
                                                                                                 41.5%
                                                                                                                40.6%
                                          38.5%
                        40%                                                                40%
                                                                                                 40.6%
                              36.8%                                                                                              39.1%
                                                                                                               38.7%
                                                        34.5%
                                                                                                                        Distillate
                                          Distillate
                        35%                                                                35%

                        30%                                                                30%
                              Jul-08      Aug-08        Sep-08                                   Jul-08        Aug-08            Sep-08



                                                   3Q08 Comments:
                                                   - Shift to more gasoline and less distillate
                                                   in September as gasoline market improved
                                                   following hurricanes

                                                                                                                                          6
Non-Refining Business Income* - 3Q08
        Retail Marketing – Earnings of $72MM
 g

         0 Retail gasoline margins expanded due to falling wholesale
           prices throughout most of the quarter
         0 Sales volume decline of 5% vs. 3Q07 on weaker driving
           demand
        Chemicals – Earnings of $19MM
 g

         0 Margin expansion vs. 2Q08 on lower feedstock costs

        Wholesale Gasoline Price, cpg                                                     Propylene Price, cpp
              (87 Regular New York Harbor)                                                       (Refinery Grade)
  350
                                                                                 80
  330                                                                            75
  310                                                                            70
  290                                                                            65
  270                                                                            60
                                                                                 55
  250

                                                                                 50
  230
              Jul-08                               Sep-08
                                Aug-08                                                  Jun-08    Jul-08   Aug-08   Sep-08


                                                                                                                             7
* Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
Non-Refining Business Income* - 3Q08
       Retail Marketing – Earnings of $72MM
 g

        0 Retail gasoline margins expanded due to falling wholesale
           prices throughout most of the quarter
         0 Sales volume decline of 5% vs. 3Q07 on weaker driving
           demand
       Chemicals – Earnings of $19MM
 g

        0 Margin expansion vs. 2Q08 on lower feedstock costs
       Logistics – Earnings of $20MM
 g

        0 Continued strong performance of Sunoco Logistics Partners
               L.P. (NYSE: SXL)
       Coke – Earnings of $29MM
 g

        0 Higher price realizations from coal and coke production at
               Jewell operations
         0 Ongoing construction projects continue to progress…
               Haverhill 2 facility started production in 3Q08

                                                                                        8
* Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
4Q08 Business Outlook
 Refining & Supply
 g Refining margins strong in October but fundamental near-term
   outlook expected to weaken
 g 4Q08 refinery utilization expected to continue to reflect the
   market conditions… optimize crude and product slate

 Non-Refining Businesses
 g Retail gasoline margins very strong in October with continued
   fall in wholesale gasoline prices
 g Chemical feedstock prices continuing to decline but global
   demand remains weak
 g Logistics earnings relatively stable versus 3Q08

 g Coke earnings expected to increase slightly to reflect full
   quarter of Haverhill 2 operations and higher Jewell coal/coke
   prices
                                                                   9
Financial Condition
                                             Net Debt-to-Capital Ratio*, %
      60%

                      42%                                                        40%
                                          37%
      40%
                                                                                                         30%
                                                                                              27%
                                                             17%
      20%


        0%
                   12/31/03            12/31/04            12/31/05            12/31/06      12/31/07   9/30/08
                                                                             Gateway
                                                                            Gateway

            BBB investment-grade credit HH2
        g                                HH2
                                                                             Existing
            $2 billion of committed liquidity** ($1.8 billion available at 9/30/08)
        g                                      Existing
                                 Existing
             0$1.3 billion revolving credit agreement – Sunoco
                                        Existing
                                           Existing
                                          Existing
                      ($1.2 billion maturing Aug 2012 and $0.1 billion maturing Aug 2011)
              0$0.2 billion A/R Securitization – Sunoco (through Aug 2009)
              0$0.5 billion revolving credit agreement – SXL
                      ($0.4 billion maturing Nov 2012 and $0.1 billion maturing May 2009)
            Maintain capital discipline
        g
* Revolver Covenant basis. For calculation, see Slide 23.
                                                                                                                  10
** For more detail, see further discussion in Sunoco’s 3Q08 10Q filed on November 6, 2008.
2008 Capital Spending, MM$

                                                                                                                Analyst
                                                              Actual                   Proj.            Proj.   Meeting
                                                               9M08                    4Q08             FY08     Dec 07

Refining & Supply                                                 492                   190              682       899
Retail Marketing                                                   73                    59              132       157
Chemicals                                                          32                    20               52        64
Logistics                                                          16                    12               28        27
Coke                                                                6                    17               23        23
                                                                  619                   298              917      1,170
                                                                                        225 *
Logistics Growth & Acquisition                                     72                                    297        -
Coke Growth                                                       201                    95              296         79
                                                                  892                   618             1,510     1,249




                                                                                                                          11
* Includes approximately $200MM for announced acquisition of MagTex assets expected to close in 4Q08.
Appendix


           12
Earnings Profile

                                      1Q07 2Q07 3Q07 9M07          4Q07    1Q08 2Q08 3Q08 9M08
Net Income (Loss) (MM$ after tax):
                                        76    482    171    729      43    (123)     32    424    333
 Refining & Supply
                                         7     30     31     68       1      26       -     72     98
 Retail Marketing
                                         9      6     13     28      (2)     18       3     19     40
 Chemicals
                                         9     10     14     33      12      15      21     20     56
 Logistics
                                        11     13      7     31      (2)     25      23     29     77
 Coke
                                       (15)   (18)   (11)   (44)    (23)    (17)    (11)     2    (26)
 Corporate Expenses
                                       (12)   (14)    (9)   (35)     (6)     (3)     (7)    (7)   (17)
 Net Financing Expenses & Other
                                       85     509    216    810      23     (59)    61     559    561
  Income(Loss) Before Special Items
                                       90       -      -     90     (32)      -     21     (10)    11
    Special Items
                                      175     509    216    900      (9)    (59)    82     549    572
  Total Net Income (Loss)


EPS (Diluted), Income (Loss)
                                      0.70    4.20   1.81   6.71    0.20 (0.50)    0.52    4.78   4.79
 Before Special Items
                                      1.44    4.20   1.81   7.46   (0.08) (0.50)   0.70    4.70   4.88
EPS (Diluted), Net Income (Loss)




                                                                                                    13
Key Margin Indicators

                             1Q07    2Q07    3Q07    9M07 4Q07 1Q08        2Q08   3Q08    9M08
Refining & Supply, $/B
 Realized Northeast           5.25   12.32    6.35    8.05   5.55   3.50   7.13   15.20   8.70
 Realized MidContinent       11.42   22.14   13.10   15.37   7.10   3.21   6.80   13.41   7.99
   Realized Total R&S         6.98   14.70    8.06    9.94   5.95   3.43   7.04   14.72   8.51

Retail Marketing, cpg
 Gasoline                      8.3    10.1    11.1     9.9    7.7   11.1    7.4    18.7   12.4
 Distillate                   16.3     9.5     8.1    11.6   13.3   17.0   11.3    14.1   14.2

Chemicals, cpp
 Phenol and Related            8.8     8.5     8.7     8.6    7.9    9.2    7.5    10.6    9.1
 Polypropylene                12.7    11.4    11.7    11.9   10.4   12.5   11.2    14.0   12.5
   Total Chemicals            10.5     9.7    10.0    10.1    8.9   10.6    9.1    12.0   10.6

Dated Brent Crude Oil, $/B   57.28   68.77   74.84   67.13 88.69 96.90 121.38 114.78 111.02
Natural Gas, $/DT             7.18    7.65    6.24    7.02 7.39 8.75 11.48      8.95   9.73




                                                                                             14
Realized Margins vs. Benchmark, $/B
                                              1Q07       2Q07        3Q07        9M07       4Q07          1Q08   2Q08     3Q08     9M08
        Northeast Refining

          Realized Margin                     5.25      12.32         6.35        8.05       5.55         3.50    7.13    15.20    8.70
          6-3-2-1 VA*                         8.16      14.15         8.46       10.25       6.99         5.78   10.78    11.98    9.51
              Differential                   (2.91)      (1.83)      (2.11)      (2.20) (1.44) (2.28)            (3.65)    3.22    (0.81)

         Actual vs.
        Benchmark:
         Crude                               (2.24)      (1.66)      (2.14)      (2.45) (2.40) (2.92)            (5.81)    1.20    (2.30)
                                                         (0.17)       0.03        0.25   0.96   0.64              2.16     2.02     1.49
         Product                             (0.67)
              Differential                   (2.91)      (1.83)      (2.11)      (2.20) (1.44) (2.28)            (3.65)    3.22    (0.81)

        MidContinent Refining

           Realized Margin                   11.42      22.14       13.10        15.37   7.10   3.21              6.80    13.41   7.99
           3-2-1 Benchmark*                  11.06      28.30       17.02        18.80   7.71   6.12             12.02    15.51 11.22
             Differential                     0.36      (6.16)      (3.92)       (3.43) (0.61) (2.91)            (5.22)   (2.10) (3.23)

         Actual vs.
        Benchmark:
         Crude                               (0.36)      (2.17)      (1.84)      (1.55) (0.30) (1.56)            (3.01)   (1.40)   (2.35)
                                                         (3.99)      (2.08)      (1.88) (0.31) (1.35)            (2.21)   (0.70)   (0.88)
         Product                              0.72
           Differential                       0.36       (6.16)      (3.92)      (3.43) (0.61) (2.91)            (5.22)   (2.10)   (3.23)
                                                                                                                                          15
* Northeast 6-3-2-1 Value-Added Benchmark. MidContinent 3-2-1 Benchmark. For definitions, see Slide 24.
Crude Oil Cost vs. Benchmark
                                                                                MidContinent
                          Northeast
                                                                  Crude Cost vs. WTI +$0.75, $/B
  Crude Cost vs. Dated Brent +$1.25, $/B
                                                           3.50
 7.00
                                                                                                      3.01
                                           5.81
                                                           3.00
 5.00
                                                                         2.17
                                                           2.50
                                    2.92                                         1.84
            2.24          2.14 2.40
 3.00                                                      2.00
                   1.66                                                                        1.56
                                                                                                             1.40
                                                           1.50
 1.00
                                                           1.00
 (1.00)                                                           0.36                  0.30
                                                           0.50
                                                  (1.20)
 (3.00)                                                    0.00
           1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08                     1Q07   2Q07    3Q07   4Q07   1Q08   2Q08   3Q08

  3Q08 Comments:                                                  3Q08 Comments:
          Favorable timing impact of decline in                       Lower costs for Canadian sweet
  g                                                               g
          crude oil prices from the beginning to                      synthetic crude
          the end of the quarter                                      Lower-cost market structure
                                                                  g
          Reduced purchases of higher                                 (contango)
  g
          premium West African crude oil
          grades… approximately $2.00/B vs.
          2Q08

                                                                                                                16
Product Realization vs. Benchmark
                            Northeast                                                                MidContinent
       Products vs. VA Benchmark*, $/B                                                Products vs. Benchmark*, $/B
 3.00                                                                     2.00
                                                    2.16
 2.50                                                                               0.72
                                                                          1.00
                                                            2.02
 2.00
                                                                          0.00
 1.50                              0.96
                                                                                                               (0.31)
                                            0.64                         (1.00)
 1.00
                                                                                                                                          (0.70)
 0.50                                                                                                                   (1.35)
                                                                         (2.00)
                     0.03
 0.00                                                                                                 (2.08)                     (2.21)
                                                                         (3.00)
              (0.17)
(0.50)
                                                                         (4.00)
(1.00) (0.67)                                                                                (3.99)
(1.50)                                                                   (5.00)
          1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08                                         1Q07     2Q07     3Q07    4Q07     1Q08     2Q08     3Q08

                                                                            3Q08 Comments:
3Q08 Comments:
                                                                                  Improved from 2Q08… falling crude oil
    Similar to 2Q08… improved capture of                                    g
g
                                                                                  prices expand margins on bottom-of-
    available benchmark and favorable
                                                                                  the-barrel products
    production mix versus the marker
    (more distillate, less residual fuel)




                                                                                                                                                 17
 * Northeast 6-3-2-1 Value-Added Benchmark. MidContinent 3-2-1 Benchmark. For definitions, see Slide 24.
Key Volume Indicators


                                       1Q07   2Q07   3Q07   9M07 4Q07 1Q08     2Q08   3Q08   9M08
Refining & Supply
 Northeast:
  Crude Throughputs, MB/D               539    614    643    599   647   570    544    574    562
  % Capacity                             82     94     98     91    99    87     83     88     86
  Net Prod. Available for Sale, MB/D    599    671    703    658   716   633    610    646    630
 MidContinent:
  Crude Throughputs, MB/D               223    205    230    219   236   208    222    230    220
  % Capacity                             91     84     90     88    93    82     87     90     86
  Net Prod. Available for Sale, MB/D    232    215    240    229   246   215    230    238    228
 Total Refining & Supply:
  Crude Throughputs, MB/D               762    819    873    818   883   778    766    804    782
  % Capacity                             85     91     96     91    97    85     84     88     86
  Net Prod. Available for Sale, MB/D    831    886    943    887   962   848    840    884    858
  Net Prod. Available for Sale, MMB      75     81     87    243    88    77     76     82    235




                                                                                                    18
Refining & Supply – Products Manufactured
                            1Q07    2Q07 3Q07       9M07 4Q07 1Q08 2Q08             3Q08    9M08
  Northeast
  Net Production, MB/D      598.9   670.7   703.3   658.1   715.5   633.1   610.4   646.2   630.0
    Gasoline                 48%     49%     49%     49%     48%     47%     49%     47%     47%
    Middle Distillates       35%     34%     36%     35%     36%     36%     38%     37%     37%
    Residual Fuel            10%       9%    10%       9%      9%      8%      8%      8%      8%
    Petrochemicals             4%      4%      4%      4%      4%      4%      5%      5%      5%
    Other                      7%      8%      6%      7%      7%    10%       5%      8%      8%
    Less Refinery Fuel        -4%     -4%     -5%     -4%     -4%     -5%     -5%     -5%     -5%

  MidContinent
  Net Production, MB/D      232.4   215.3   239.5   229.0   246.5   215.2   229.7   237.7   227.5
    Gasoline                 48%     51%     48%     49%     47%     46%     42%     41%     43%
    Middle Distillates       32%     31%     33%     32%     35%     33%     40%     40%     38%
    Residual Fuel              2%      2%      2%      2%      2%      2%      2%      2%      2%
    Petrochemicals             4%      4%      4%      4%      3%      3%      3%      3%      3%
    Lubricants                 6%      5%      5%      5%      5%      6%      5%      5%      5%
    Other                    13%     12%     13%     13%     13%     15%     13%     14%     14%
    Less Refinery Fuel        -5%     -5%     -5%     -5%     -5%     -5%     -5%     -5%     -5%

  Total Refining & Supply
  Net Production, MB/D      831.3   886.0   942.8   887.1   962.0   848.3   840.1   883.9   857.5
    Gasoline                 48%     49%     48%     49%     48%     46%     47%     46%     46%
    Middle Distillates       34%     34%     35%     34%     36%     35%     38%     37%     37%
    Residual Fuel              7%      7%      8%      8%      7%      7%      6%      7%      7%
    Petrochemicals             4%      4%      4%      4%      4%      4%      4%      4%      4%
    Lubricants                 2%      1%      1%      1%      1%      2%      1%      1%      1%
    Other                    10%     10%       9%      9%      9%    11%       8%      9%      9%
    Less Refinery Fuel        -5%     -5%     -5%     -5%     -5%     -5%     -4%     -4%     -4%

                                                                                                    19
Refining & Supply - Gasoline and Distillate Production
                                      1Q07    2Q07    3Q07    9M07    4Q07    1Q08    2Q08    3Q08    9M08
   Northeast
   Gasoline Production, MB/D          289.3   327.8   342.7   320.1   344.8   294.2   296.7   306.9   299.3
     RFG                               51%     52%     53%     52%     55%     56%     57%     61%     58%
     Conventional                      49%     48%     47%     48%     45%     44%     43%     39%     42%

   Distillate Production, MB/D        210.1   231.0   249.8   230.5   259.7   228.4   229.7   236.6   231.6
      On-Road Diesel Fuel              55%     61%     57%     58%     55%     51%     56%     59%     55%
      Heating Oil / Off-Road Diesel    25%     23%     27%     25%     28%     31%     26%     25%     28%
      Jet Fuel                         16%     14%     14%     15%     15%     15%     17%     14%     15%
      Kerosene/Other                    4%      2%      2%      2%      2%      3%      1%      2%      2%

   MidContinent
   Gasoline Production, MB/D          112.1   110.3   114.2   112.2   114.8    99.3    96.8    97.9    98.0
     RFG                                0%      0%      0%      0%      0%      0%      0%      0%      0%
     Conventional                     100%    100%    100%    100%    100%    100%    100%    100%    100%

   Distillate Production, MB/D         75.3    66.3    79.2    73.6    85.4    70.2    92.1    94.5    85.6
      On-Road Diesel Fuel              38%     40%     35%     38%     35%     23%     34%     36%     32%
      Heating Oil / Off-Road Diesel    28%     24%     25%     26%     26%     32%     26%     22%     26%
      Jet Fuel                         34%     36%     40%     36%     39%     45%     40%     42%     42%
      Kerosene/Other                    0%      0%      0%      0%      0%      0%      0%      0%      0%

   Total Refining & Supply
   Gasoline Production, MB/D          401.4   438.1   456.9   432.3   459.6   393.5   393.5   404.8   397.3
     RFG                               37%     39%     40%     39%     41%     42%     43%     46%     44%
     Conventional                      63%     61%     60%     61%     59%     58%     57%     54%     56%

   Distillate Production, MB/D        285.4   297.3   329.0   304.1   345.1   298.6   321.8   331.1   317.2
      On-Road Diesel Fuel              51%     56%     52%     53%     50%     44%     50%     52%     49%
      Heating Oil / Off-Road Diesel    26%     23%     26%     25%     28%     32%     26%     24%     27%
      Jet Fuel                         21%     19%     20%     20%     21%     22%     23%     22%     22%
      Kerosene/Other                    2%      2%      2%      2%      1%      2%      1%      2%      2%

                                                                                                              20
Refining & Supply Production Mix

                                                                                                                                         MidContinent
                                 Northeast
                                                                                                                                        % of Net Production
                            % of Net Production
                                                                                                                                       51.2%
               40%                                                           12.0%                                      53%
                                                                             11.5%                                      50%                       Gasoline
                                                             37.8%
                                         Distillate                                                                                                             46.2%
                                                                             11.0%                                      48% 48.3%
               38%




                                                                                               % Gasoline, Distillate
                                             36.3%                                                                                             47.6%
                                                                             10.5%                                      45%                             46.6%
% Distillate




                                     35.5%                                                                                                                                42.2%




                                                                                     % Resid
                     35.1%                                           36.6%   10.0%                                      43%
                             34.5%                   36.1%
               35%                      9.7%                                                                                                                                      41.2%
                                                                             9.5%                                       40%
                     9.6%                                                                                                                                                         39.8%
                                                                             9.0%                                                                                        39.9%
                                                                                                                        38%
                                               8.7%
                             9.1%                                                                                                                       34.7%
                                                                     8.2%
               33%                                                           8.5%                                       35%
                                                       8.2%                                                                                     33.0%                   Distillate
                                                                                                                               32.3%
                              Residual Fuel                   7.5%           8.0%                                                      30.8%
                                                                                                                        33%
                                                                                                                                                                32.6%
               30%                                                           7.5%                                       30%
                     1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08                                                                        1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08


                                                                                                                        3Q08 Comments:
           3Q08 Comments:
                                                                                                                              Versus 3Q07: More high-value distillate
                 Versus 3Q07: More high-value distillate                                                                0
           0
                                                                                                                              and less gasoline
                 and less low-value residual fuel
                                                                                                                              Versus 2Q08: Very similar with
                 Versus 2Q08: Slightly less distillate and                                                              0
           0
                                                                                                                              continued strong jet fuel production
                 more residual fuel due to improved
                 gasoline economics and slightly heavier
                 crude slate                                                                                                                                                              21
Key Volume Indicators

                                      1Q07    2Q07    3Q07    9M07    4Q07    1Q08    2Q08    3Q08    9M08
Retail Marketing
 Gasoline Sales, MM gal               1,131   1,175   1,170   3,476   1,138   1,070   1,140   1,109   3,319
 Middle Distillate Sales, MM gal        177     152     144     473     149     145     143     144     432
   Total Sales, MM gal                1,308   1,327   1,314   3,949   1,287   1,215   1,283   1,253   3,751
 Gasoline and Diesel Throughput
  (Company-owned or leased outlets)
  (M gal/Site/Month)                   142     152     154     149     152     143     152     150     148
 Merchandise Sales (M$/Store/Month)     76      87      91      84      85      77      86      90      84

Chemicals
 Phenol and Related Sales, MM#         592     644     633    1,869    639     599     591     607    1,797
 Polypropylene Sales, MM#              548     576     623    1,747    550     569     562     531    1,662
 Other Sales, MM#                       20      22      19       61     19      24      19      14       57
   Total, MM#                         1,160   1,242   1,275   3,677   1,208   1,192   1,172   1,152   3,516

Coke
 Production, M tons:
  United States                        611     620     621    1,852    617     613     614     693    1,920
  Brazil                                32     237     403      672    419     388     404     408    1,200




                                                                                                              22
Financial Ratios

                                           3/31/07 6/30/07 9/30/07 12/31/07 3/31/08   6/30/08   9/30/08
      Total Debt (GAAP Basis)               2,086   1,973   2,039    1,728    1,686    1,826    1,734
      Plus: Debt Guarantees                     5       4       3        3        3        3        2
      Less: Cash                              222     240     263      648      347      214      327
      Net Debt (Revolver Covenant Basis)    1,869   1,737   1,779    1,083    1,342    1,615    1,409


      Shareholders’ Equity (GAAP Basis)     2,159   2,576   2,566    2,533    2,367    2,414    2,973
      SXL * Minority Interest                 349     348     353      356      359      367      374
      Equity (Revolver Covenant Basis)      2,508   2,924   2,919    2,889    2,726    2,781    3,347


      Debt / Capital (GAAP Basis)           49%      43%     44%      41%      42%      43%       37%

      Net Debt / Capital **
      (Revolver Covenant Basis)             43%      37%     38%      27%      33%      37%      30%




*    Sunoco Logistics Partners L.P. (NYSE: SXL)
**   The Net Debt / Capital ratio per the Sunoco, Inc. revolver is used by Sunoco management in its
     internal financial analysis and by investors and creditors in the assessment of Sunoco’s financial
     position.                                                                                          23
Sunoco Refinery Benchmark Margins

                                            1Q07 2Q07 3Q07 9M07 4Q07 1Q08                        2Q08 3Q08 9M08
Northeast Refining:
 6-3-2-1 Value-Added
 Benchmark                                    8.16 14.15          8.46 10.25         6.99 5.78   10.78 11.98      9.51

      Northeast 6-3-2-1 Value-Added Benchmark
      6 Dated Brent Crude: Platt’s Mid + $1.25 for transportation
      3 Gasoline: 50% Unleaded RBOB NY Harbor Barge Platt's Low
                    50% Unleaded Regular Gasoline NY Harbor Barge Platt's Low
      2 Distillate: 55% ULSD/LSD NY Harbor Barge Platt's Low
                    20% Jet/Kero NY Harbor Barge Platt's Low
                    25% No.2 Fuel Oil NY Harbor Barge Platt's Low
      1 No. 6 0.3% Sulfur High Pour Resid: NY Harbor Barge Platt’s Low




                                             1Q07 2Q07            3Q07       9M07 4Q07 1Q08 2Q08         3Q08    9M08
 MidContinent Refining:
  3-2-1 Benchmark                            11.06 28.30          17.02      18.80   7.71   6.12 12.02   15.51   11.22




    MidContinent 3-2-1 Benchmark
    3 WTI Crude: NYMEX futures L1 Close + $0.75 for transportation
    2 Unleaded Regular Gasoline: Chicago Pipeline Platt’s Low
    1 No. 2 Low Sulfur (Low Sulfur Diesel): Fuel Oil Chicago Pipeline Platt’s Low



                                                                                                                         24
For More Information



     Media releases and SEC filings are available
     on our website at www.SunocoInc.com

         Contact for more information:
           Terry Delaney         (215) 977-6106
           Tom Harr               (215) 977-6764




                                                    25
Safe Harbor Statement
This slide presentation should be reviewed in conjunction with Sunoco’s Third Quarter 2008 earnings conference call
held on November 6, 2008 at 3:00 p.m. ET. You may listen to the audio portion of the conference call on the website
or an audio recording will be available after the call’s completion by calling 1-800-642-1687 and entering conference
ID#68293742.

Statements in this presentation that are not historical facts are forward-looking statements intended to be covered by
the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements are based upon assumptions by Sunoco concerning future
conditions, any or all of which ultimately may prove to be inaccurate, and upon the current knowledge, beliefs and
expectations of Sunoco management. These forward-looking statements are not guarantees of future performance.

Forward-looking statements are inherently uncertain and involve significant risks and uncertainties that could cause
actual results to differ materially from those described during this presentation. Such risks and uncertainties include
economic, business, competitive and/or regulatory factors affecting Sunoco's business, as well as uncertainties
related to the outcomes of pending or future litigation. In accordance with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, Sunoco has included in its Annual Report on Form 10-K for the year ended
December 31, 2007, and in its subsequent Form 10-Q and Form 8-K filings, cautionary language identifying important
factors (though not necessarily all such factors) that could cause future outcomes to differ materially from those set
forth in the forward-looking statements. For more information concerning these factors, see Sunoco's Securities and
Exchange Commission filings, available on Sunoco's website at www.SunocoInc.com. Sunoco expressly disclaims
any obligation to update or alter its forward-looking statements, whether as a result of new information, future events
or otherwise.

This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for,
comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are
provided in the Appendix at the end of the presentation. Investors are urged to consider carefully the comparable
GAAP measures and the reconciliations to those measures provided in the Appendix, or on our website at
www.SunocoInc.com.


                                                                                                                          26

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sunoco Q3 2008 Sunoco Earnings Conference Call Thursday, November 6, 2008 3:00 p.m. ET

  • 1. 3Q08 Earnings Conference Call November 6, 2008 1
  • 2. Income (Loss) Before Special Items*, MM$ 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 Refining & Supply 76 482 171 43 (123) 32 424 Non-Refining 36 59 65 9 84 47 140 Corp. & Net Fin. (27) (32) (20) (29) (20) (18) (5) Income (Loss) Before Special Items 85 509 216 23 (59) 61 559 EPS (Diluted), Before Special Items 0.70 4.20 1.81 0.20 (0.50) 0.52 4.78 2 * For reconciliation to Net Income (Loss), see Slide 13.
  • 3. 3Q08 Summary Net Income excluding special items of $559MM* ($4.78/share) g Refining & Supply earnings of $424MM g 0Falling/lower crude oil prices and reduced purchases of premium-priced crudes 0Industry supply constraints due to Gulf Coast storms 088% utilization with continued focus on optimizing production mix during the quarter to meet market demand Non-Refining earnings of $140MM g 0Falling/lower feedstock costs for Retail Marketing and Chemicals 0Solid contributions from Logistics and Coke 3 * For reconciliation to Net Income, see Slide 13.
  • 4. Refining & Supply Summary – 3Q08 3Q08 earnings* of $424MM g 0Declining crude oil prices and reduced purchases of premium-priced crudes improved realized margins and capture versus benchmarks 0Gasoline margins expanded rapidly during September as hurricane-related refinery outages in the Gulf Coast limited product supply in the market Operations g 0Net refinery production of 82 MMB (884 MB/D) … limited by economics/demand and optimization efforts early in the quarter 0Continued focus on production yield optimization… more distillate in July and August with shift to gasoline in September 4 * Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
  • 5. Nigerian Crude Purchases*, MB/D 400 356 337 350 319 306 300 250 200 150 100 100 50 0 2006 2007 1Q08 2Q08 3Q08 5 * For use in the Northeast Refining system
  • 6. 3Q08 Refining & Supply Production Mix MidContinent Northeast % of Net Production % of Net Production 55% 55% 50.5% 50% 50% Gasoline % Gasoline/Distillate % Gasoline/Distillate 46.6% Gasoline 45% 45% 45.6% 42.4% 41.5% 40.6% 38.5% 40% 40% 40.6% 36.8% 39.1% 38.7% 34.5% Distillate Distillate 35% 35% 30% 30% Jul-08 Aug-08 Sep-08 Jul-08 Aug-08 Sep-08 3Q08 Comments: - Shift to more gasoline and less distillate in September as gasoline market improved following hurricanes 6
  • 7. Non-Refining Business Income* - 3Q08 Retail Marketing – Earnings of $72MM g 0 Retail gasoline margins expanded due to falling wholesale prices throughout most of the quarter 0 Sales volume decline of 5% vs. 3Q07 on weaker driving demand Chemicals – Earnings of $19MM g 0 Margin expansion vs. 2Q08 on lower feedstock costs Wholesale Gasoline Price, cpg Propylene Price, cpp (87 Regular New York Harbor) (Refinery Grade) 350 80 330 75 310 70 290 65 270 60 55 250 50 230 Jul-08 Sep-08 Aug-08 Jun-08 Jul-08 Aug-08 Sep-08 7 * Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
  • 8. Non-Refining Business Income* - 3Q08 Retail Marketing – Earnings of $72MM g 0 Retail gasoline margins expanded due to falling wholesale prices throughout most of the quarter 0 Sales volume decline of 5% vs. 3Q07 on weaker driving demand Chemicals – Earnings of $19MM g 0 Margin expansion vs. 2Q08 on lower feedstock costs Logistics – Earnings of $20MM g 0 Continued strong performance of Sunoco Logistics Partners L.P. (NYSE: SXL) Coke – Earnings of $29MM g 0 Higher price realizations from coal and coke production at Jewell operations 0 Ongoing construction projects continue to progress… Haverhill 2 facility started production in 3Q08 8 * Business Unit Net Income after tax. For reconciliation to Net Income, see Slide 13.
  • 9. 4Q08 Business Outlook Refining & Supply g Refining margins strong in October but fundamental near-term outlook expected to weaken g 4Q08 refinery utilization expected to continue to reflect the market conditions… optimize crude and product slate Non-Refining Businesses g Retail gasoline margins very strong in October with continued fall in wholesale gasoline prices g Chemical feedstock prices continuing to decline but global demand remains weak g Logistics earnings relatively stable versus 3Q08 g Coke earnings expected to increase slightly to reflect full quarter of Haverhill 2 operations and higher Jewell coal/coke prices 9
  • 10. Financial Condition Net Debt-to-Capital Ratio*, % 60% 42% 40% 37% 40% 30% 27% 17% 20% 0% 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 9/30/08 Gateway Gateway BBB investment-grade credit HH2 g HH2 Existing $2 billion of committed liquidity** ($1.8 billion available at 9/30/08) g Existing Existing 0$1.3 billion revolving credit agreement – Sunoco Existing Existing Existing ($1.2 billion maturing Aug 2012 and $0.1 billion maturing Aug 2011) 0$0.2 billion A/R Securitization – Sunoco (through Aug 2009) 0$0.5 billion revolving credit agreement – SXL ($0.4 billion maturing Nov 2012 and $0.1 billion maturing May 2009) Maintain capital discipline g * Revolver Covenant basis. For calculation, see Slide 23. 10 ** For more detail, see further discussion in Sunoco’s 3Q08 10Q filed on November 6, 2008.
  • 11. 2008 Capital Spending, MM$ Analyst Actual Proj. Proj. Meeting 9M08 4Q08 FY08 Dec 07 Refining & Supply 492 190 682 899 Retail Marketing 73 59 132 157 Chemicals 32 20 52 64 Logistics 16 12 28 27 Coke 6 17 23 23 619 298 917 1,170 225 * Logistics Growth & Acquisition 72 297 - Coke Growth 201 95 296 79 892 618 1,510 1,249 11 * Includes approximately $200MM for announced acquisition of MagTex assets expected to close in 4Q08.
  • 12. Appendix 12
  • 13. Earnings Profile 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Net Income (Loss) (MM$ after tax): 76 482 171 729 43 (123) 32 424 333 Refining & Supply 7 30 31 68 1 26 - 72 98 Retail Marketing 9 6 13 28 (2) 18 3 19 40 Chemicals 9 10 14 33 12 15 21 20 56 Logistics 11 13 7 31 (2) 25 23 29 77 Coke (15) (18) (11) (44) (23) (17) (11) 2 (26) Corporate Expenses (12) (14) (9) (35) (6) (3) (7) (7) (17) Net Financing Expenses & Other 85 509 216 810 23 (59) 61 559 561 Income(Loss) Before Special Items 90 - - 90 (32) - 21 (10) 11 Special Items 175 509 216 900 (9) (59) 82 549 572 Total Net Income (Loss) EPS (Diluted), Income (Loss) 0.70 4.20 1.81 6.71 0.20 (0.50) 0.52 4.78 4.79 Before Special Items 1.44 4.20 1.81 7.46 (0.08) (0.50) 0.70 4.70 4.88 EPS (Diluted), Net Income (Loss) 13
  • 14. Key Margin Indicators 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Refining & Supply, $/B Realized Northeast 5.25 12.32 6.35 8.05 5.55 3.50 7.13 15.20 8.70 Realized MidContinent 11.42 22.14 13.10 15.37 7.10 3.21 6.80 13.41 7.99 Realized Total R&S 6.98 14.70 8.06 9.94 5.95 3.43 7.04 14.72 8.51 Retail Marketing, cpg Gasoline 8.3 10.1 11.1 9.9 7.7 11.1 7.4 18.7 12.4 Distillate 16.3 9.5 8.1 11.6 13.3 17.0 11.3 14.1 14.2 Chemicals, cpp Phenol and Related 8.8 8.5 8.7 8.6 7.9 9.2 7.5 10.6 9.1 Polypropylene 12.7 11.4 11.7 11.9 10.4 12.5 11.2 14.0 12.5 Total Chemicals 10.5 9.7 10.0 10.1 8.9 10.6 9.1 12.0 10.6 Dated Brent Crude Oil, $/B 57.28 68.77 74.84 67.13 88.69 96.90 121.38 114.78 111.02 Natural Gas, $/DT 7.18 7.65 6.24 7.02 7.39 8.75 11.48 8.95 9.73 14
  • 15. Realized Margins vs. Benchmark, $/B 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Northeast Refining Realized Margin 5.25 12.32 6.35 8.05 5.55 3.50 7.13 15.20 8.70 6-3-2-1 VA* 8.16 14.15 8.46 10.25 6.99 5.78 10.78 11.98 9.51 Differential (2.91) (1.83) (2.11) (2.20) (1.44) (2.28) (3.65) 3.22 (0.81) Actual vs. Benchmark: Crude (2.24) (1.66) (2.14) (2.45) (2.40) (2.92) (5.81) 1.20 (2.30) (0.17) 0.03 0.25 0.96 0.64 2.16 2.02 1.49 Product (0.67) Differential (2.91) (1.83) (2.11) (2.20) (1.44) (2.28) (3.65) 3.22 (0.81) MidContinent Refining Realized Margin 11.42 22.14 13.10 15.37 7.10 3.21 6.80 13.41 7.99 3-2-1 Benchmark* 11.06 28.30 17.02 18.80 7.71 6.12 12.02 15.51 11.22 Differential 0.36 (6.16) (3.92) (3.43) (0.61) (2.91) (5.22) (2.10) (3.23) Actual vs. Benchmark: Crude (0.36) (2.17) (1.84) (1.55) (0.30) (1.56) (3.01) (1.40) (2.35) (3.99) (2.08) (1.88) (0.31) (1.35) (2.21) (0.70) (0.88) Product 0.72 Differential 0.36 (6.16) (3.92) (3.43) (0.61) (2.91) (5.22) (2.10) (3.23) 15 * Northeast 6-3-2-1 Value-Added Benchmark. MidContinent 3-2-1 Benchmark. For definitions, see Slide 24.
  • 16. Crude Oil Cost vs. Benchmark MidContinent Northeast Crude Cost vs. WTI +$0.75, $/B Crude Cost vs. Dated Brent +$1.25, $/B 3.50 7.00 3.01 5.81 3.00 5.00 2.17 2.50 2.92 1.84 2.24 2.14 2.40 3.00 2.00 1.66 1.56 1.40 1.50 1.00 1.00 (1.00) 0.36 0.30 0.50 (1.20) (3.00) 0.00 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 3Q08 Comments: 3Q08 Comments: Favorable timing impact of decline in Lower costs for Canadian sweet g g crude oil prices from the beginning to synthetic crude the end of the quarter Lower-cost market structure g Reduced purchases of higher (contango) g premium West African crude oil grades… approximately $2.00/B vs. 2Q08 16
  • 17. Product Realization vs. Benchmark Northeast MidContinent Products vs. VA Benchmark*, $/B Products vs. Benchmark*, $/B 3.00 2.00 2.16 2.50 0.72 1.00 2.02 2.00 0.00 1.50 0.96 (0.31) 0.64 (1.00) 1.00 (0.70) 0.50 (1.35) (2.00) 0.03 0.00 (2.08) (2.21) (3.00) (0.17) (0.50) (4.00) (1.00) (0.67) (3.99) (1.50) (5.00) 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 3Q08 Comments: 3Q08 Comments: Improved from 2Q08… falling crude oil Similar to 2Q08… improved capture of g g prices expand margins on bottom-of- available benchmark and favorable the-barrel products production mix versus the marker (more distillate, less residual fuel) 17 * Northeast 6-3-2-1 Value-Added Benchmark. MidContinent 3-2-1 Benchmark. For definitions, see Slide 24.
  • 18. Key Volume Indicators 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Refining & Supply Northeast: Crude Throughputs, MB/D 539 614 643 599 647 570 544 574 562 % Capacity 82 94 98 91 99 87 83 88 86 Net Prod. Available for Sale, MB/D 599 671 703 658 716 633 610 646 630 MidContinent: Crude Throughputs, MB/D 223 205 230 219 236 208 222 230 220 % Capacity 91 84 90 88 93 82 87 90 86 Net Prod. Available for Sale, MB/D 232 215 240 229 246 215 230 238 228 Total Refining & Supply: Crude Throughputs, MB/D 762 819 873 818 883 778 766 804 782 % Capacity 85 91 96 91 97 85 84 88 86 Net Prod. Available for Sale, MB/D 831 886 943 887 962 848 840 884 858 Net Prod. Available for Sale, MMB 75 81 87 243 88 77 76 82 235 18
  • 19. Refining & Supply – Products Manufactured 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Northeast Net Production, MB/D 598.9 670.7 703.3 658.1 715.5 633.1 610.4 646.2 630.0 Gasoline 48% 49% 49% 49% 48% 47% 49% 47% 47% Middle Distillates 35% 34% 36% 35% 36% 36% 38% 37% 37% Residual Fuel 10% 9% 10% 9% 9% 8% 8% 8% 8% Petrochemicals 4% 4% 4% 4% 4% 4% 5% 5% 5% Other 7% 8% 6% 7% 7% 10% 5% 8% 8% Less Refinery Fuel -4% -4% -5% -4% -4% -5% -5% -5% -5% MidContinent Net Production, MB/D 232.4 215.3 239.5 229.0 246.5 215.2 229.7 237.7 227.5 Gasoline 48% 51% 48% 49% 47% 46% 42% 41% 43% Middle Distillates 32% 31% 33% 32% 35% 33% 40% 40% 38% Residual Fuel 2% 2% 2% 2% 2% 2% 2% 2% 2% Petrochemicals 4% 4% 4% 4% 3% 3% 3% 3% 3% Lubricants 6% 5% 5% 5% 5% 6% 5% 5% 5% Other 13% 12% 13% 13% 13% 15% 13% 14% 14% Less Refinery Fuel -5% -5% -5% -5% -5% -5% -5% -5% -5% Total Refining & Supply Net Production, MB/D 831.3 886.0 942.8 887.1 962.0 848.3 840.1 883.9 857.5 Gasoline 48% 49% 48% 49% 48% 46% 47% 46% 46% Middle Distillates 34% 34% 35% 34% 36% 35% 38% 37% 37% Residual Fuel 7% 7% 8% 8% 7% 7% 6% 7% 7% Petrochemicals 4% 4% 4% 4% 4% 4% 4% 4% 4% Lubricants 2% 1% 1% 1% 1% 2% 1% 1% 1% Other 10% 10% 9% 9% 9% 11% 8% 9% 9% Less Refinery Fuel -5% -5% -5% -5% -5% -5% -4% -4% -4% 19
  • 20. Refining & Supply - Gasoline and Distillate Production 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Northeast Gasoline Production, MB/D 289.3 327.8 342.7 320.1 344.8 294.2 296.7 306.9 299.3 RFG 51% 52% 53% 52% 55% 56% 57% 61% 58% Conventional 49% 48% 47% 48% 45% 44% 43% 39% 42% Distillate Production, MB/D 210.1 231.0 249.8 230.5 259.7 228.4 229.7 236.6 231.6 On-Road Diesel Fuel 55% 61% 57% 58% 55% 51% 56% 59% 55% Heating Oil / Off-Road Diesel 25% 23% 27% 25% 28% 31% 26% 25% 28% Jet Fuel 16% 14% 14% 15% 15% 15% 17% 14% 15% Kerosene/Other 4% 2% 2% 2% 2% 3% 1% 2% 2% MidContinent Gasoline Production, MB/D 112.1 110.3 114.2 112.2 114.8 99.3 96.8 97.9 98.0 RFG 0% 0% 0% 0% 0% 0% 0% 0% 0% Conventional 100% 100% 100% 100% 100% 100% 100% 100% 100% Distillate Production, MB/D 75.3 66.3 79.2 73.6 85.4 70.2 92.1 94.5 85.6 On-Road Diesel Fuel 38% 40% 35% 38% 35% 23% 34% 36% 32% Heating Oil / Off-Road Diesel 28% 24% 25% 26% 26% 32% 26% 22% 26% Jet Fuel 34% 36% 40% 36% 39% 45% 40% 42% 42% Kerosene/Other 0% 0% 0% 0% 0% 0% 0% 0% 0% Total Refining & Supply Gasoline Production, MB/D 401.4 438.1 456.9 432.3 459.6 393.5 393.5 404.8 397.3 RFG 37% 39% 40% 39% 41% 42% 43% 46% 44% Conventional 63% 61% 60% 61% 59% 58% 57% 54% 56% Distillate Production, MB/D 285.4 297.3 329.0 304.1 345.1 298.6 321.8 331.1 317.2 On-Road Diesel Fuel 51% 56% 52% 53% 50% 44% 50% 52% 49% Heating Oil / Off-Road Diesel 26% 23% 26% 25% 28% 32% 26% 24% 27% Jet Fuel 21% 19% 20% 20% 21% 22% 23% 22% 22% Kerosene/Other 2% 2% 2% 2% 1% 2% 1% 2% 2% 20
  • 21. Refining & Supply Production Mix MidContinent Northeast % of Net Production % of Net Production 51.2% 40% 12.0% 53% 11.5% 50% Gasoline 37.8% Distillate 46.2% 11.0% 48% 48.3% 38% % Gasoline, Distillate 36.3% 47.6% 10.5% 45% 46.6% % Distillate 35.5% 42.2% % Resid 35.1% 36.6% 10.0% 43% 34.5% 36.1% 35% 9.7% 41.2% 9.5% 40% 9.6% 39.8% 9.0% 39.9% 38% 8.7% 9.1% 34.7% 8.2% 33% 8.5% 35% 8.2% 33.0% Distillate 32.3% Residual Fuel 7.5% 8.0% 30.8% 33% 32.6% 30% 7.5% 30% 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 3Q08 Comments: 3Q08 Comments: Versus 3Q07: More high-value distillate Versus 3Q07: More high-value distillate 0 0 and less gasoline and less low-value residual fuel Versus 2Q08: Very similar with Versus 2Q08: Slightly less distillate and 0 0 continued strong jet fuel production more residual fuel due to improved gasoline economics and slightly heavier crude slate 21
  • 22. Key Volume Indicators 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Retail Marketing Gasoline Sales, MM gal 1,131 1,175 1,170 3,476 1,138 1,070 1,140 1,109 3,319 Middle Distillate Sales, MM gal 177 152 144 473 149 145 143 144 432 Total Sales, MM gal 1,308 1,327 1,314 3,949 1,287 1,215 1,283 1,253 3,751 Gasoline and Diesel Throughput (Company-owned or leased outlets) (M gal/Site/Month) 142 152 154 149 152 143 152 150 148 Merchandise Sales (M$/Store/Month) 76 87 91 84 85 77 86 90 84 Chemicals Phenol and Related Sales, MM# 592 644 633 1,869 639 599 591 607 1,797 Polypropylene Sales, MM# 548 576 623 1,747 550 569 562 531 1,662 Other Sales, MM# 20 22 19 61 19 24 19 14 57 Total, MM# 1,160 1,242 1,275 3,677 1,208 1,192 1,172 1,152 3,516 Coke Production, M tons: United States 611 620 621 1,852 617 613 614 693 1,920 Brazil 32 237 403 672 419 388 404 408 1,200 22
  • 23. Financial Ratios 3/31/07 6/30/07 9/30/07 12/31/07 3/31/08 6/30/08 9/30/08 Total Debt (GAAP Basis) 2,086 1,973 2,039 1,728 1,686 1,826 1,734 Plus: Debt Guarantees 5 4 3 3 3 3 2 Less: Cash 222 240 263 648 347 214 327 Net Debt (Revolver Covenant Basis) 1,869 1,737 1,779 1,083 1,342 1,615 1,409 Shareholders’ Equity (GAAP Basis) 2,159 2,576 2,566 2,533 2,367 2,414 2,973 SXL * Minority Interest 349 348 353 356 359 367 374 Equity (Revolver Covenant Basis) 2,508 2,924 2,919 2,889 2,726 2,781 3,347 Debt / Capital (GAAP Basis) 49% 43% 44% 41% 42% 43% 37% Net Debt / Capital ** (Revolver Covenant Basis) 43% 37% 38% 27% 33% 37% 30% * Sunoco Logistics Partners L.P. (NYSE: SXL) ** The Net Debt / Capital ratio per the Sunoco, Inc. revolver is used by Sunoco management in its internal financial analysis and by investors and creditors in the assessment of Sunoco’s financial position. 23
  • 24. Sunoco Refinery Benchmark Margins 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 Northeast Refining: 6-3-2-1 Value-Added Benchmark 8.16 14.15 8.46 10.25 6.99 5.78 10.78 11.98 9.51 Northeast 6-3-2-1 Value-Added Benchmark 6 Dated Brent Crude: Platt’s Mid + $1.25 for transportation 3 Gasoline: 50% Unleaded RBOB NY Harbor Barge Platt's Low 50% Unleaded Regular Gasoline NY Harbor Barge Platt's Low 2 Distillate: 55% ULSD/LSD NY Harbor Barge Platt's Low 20% Jet/Kero NY Harbor Barge Platt's Low 25% No.2 Fuel Oil NY Harbor Barge Platt's Low 1 No. 6 0.3% Sulfur High Pour Resid: NY Harbor Barge Platt’s Low 1Q07 2Q07 3Q07 9M07 4Q07 1Q08 2Q08 3Q08 9M08 MidContinent Refining: 3-2-1 Benchmark 11.06 28.30 17.02 18.80 7.71 6.12 12.02 15.51 11.22 MidContinent 3-2-1 Benchmark 3 WTI Crude: NYMEX futures L1 Close + $0.75 for transportation 2 Unleaded Regular Gasoline: Chicago Pipeline Platt’s Low 1 No. 2 Low Sulfur (Low Sulfur Diesel): Fuel Oil Chicago Pipeline Platt’s Low 24
  • 25. For More Information Media releases and SEC filings are available on our website at www.SunocoInc.com Contact for more information: Terry Delaney (215) 977-6106 Tom Harr (215) 977-6764 25
  • 26. Safe Harbor Statement This slide presentation should be reviewed in conjunction with Sunoco’s Third Quarter 2008 earnings conference call held on November 6, 2008 at 3:00 p.m. ET. You may listen to the audio portion of the conference call on the website or an audio recording will be available after the call’s completion by calling 1-800-642-1687 and entering conference ID#68293742. Statements in this presentation that are not historical facts are forward-looking statements intended to be covered by the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based upon assumptions by Sunoco concerning future conditions, any or all of which ultimately may prove to be inaccurate, and upon the current knowledge, beliefs and expectations of Sunoco management. These forward-looking statements are not guarantees of future performance. Forward-looking statements are inherently uncertain and involve significant risks and uncertainties that could cause actual results to differ materially from those described during this presentation. Such risks and uncertainties include economic, business, competitive and/or regulatory factors affecting Sunoco's business, as well as uncertainties related to the outcomes of pending or future litigation. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Sunoco has included in its Annual Report on Form 10-K for the year ended December 31, 2007, and in its subsequent Form 10-Q and Form 8-K filings, cautionary language identifying important factors (though not necessarily all such factors) that could cause future outcomes to differ materially from those set forth in the forward-looking statements. For more information concerning these factors, see Sunoco's Securities and Exchange Commission filings, available on Sunoco's website at www.SunocoInc.com. Sunoco expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the Appendix at the end of the presentation. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided in the Appendix, or on our website at www.SunocoInc.com. 26