Sunoco 8-K Regulation FD Disclosure

1

Investor Meeting

Philadelphia, PA 

December 6, 2005

Exhibit 99.1

*********

****

*

*

*

*

*

2

Safe Harbor Statement

Those

statements

made

by

representatives

of

Sunoco

during

the

course

of

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

a

number

of

assumptions

by

Sunoco

concerning

future

conditions,

any

or

all

of

which

may

ultimately

prove

to

be

inaccurate.

Forward-looking

statements

are

inherently

uncertain

and

necessarily

involve

risks

that

may

affect

Sunoco's

business

prospects

and

performance,

causing

actual

results

to

differ

materially

from

those

discussed

during

this

presentation.

Such

risks

and

uncertainties

include,

by

way

of

example

and

not

of

limitation:

general

business

and

economic

conditions;

competitive

products

and

pricing;

effects

of

weather

conditions

and

natural

disasters

on

the

Company’s

operating

facilities

and

on

product

supply

and

demand;

changes

in

refining,

marketing,

and

chemical

margins;

variation

in

petroleum-based

commodity

prices

and

availability

of

crude

oil

and

feedstock

supply

or

transportation;

ability

to

successfully

achieve

the

operating

results

forecasted

for

any

capital

program;

ability

to

obtain,

in

a

timely

manner,

the

requisite

regulatory

approvals

and

permits

needed

for

any

announced

capital

program;

available

liquidity

and

capital

resources

sufficient

to

permit

contemporaneous

consummation

of

announced

share

repurchases,

dividend

payments

and

capital

programs;

effects

of

transportation

disruptions;

changes

in

the

price

differentials

between

light-sweet

and

heavy-sour

crude

oils;

fluctuations

in

supply

of

feedstocks

and

demand

for

products

manufactured;

changes

in

product

specifications;

availability

and

pricing

of

oxygenates;

phase-outs

or

restrictions

on

the

use

of

MTBE;

changes

in

operating

conditions

and

costs;

changes

in

the

expected

level

of

environmental

capital,

operating

or

remediation

expenditures;

age

of,

and

changes

in

the

reliability,

efficiency

and

capacity

of,

the

Company’s

or

a

third

party’s

operating

facilities;

potential

equipment

malfunction;

potential

labor

relations

problems;

the

legislative

and

regulatory

environment;

ability

to

identify

acquisitions,

execute

them

under

favorable

terms

and

integrate

them

into

the

Company’s

existing

businesses;

ability

to

enter

into

joint

ventures

and

other

similar

arrangements

under

favorable

terms;

ability

to

attain

forecasted

internal

rates

of

return

on

capital

projects

and/or

acquisitions;

ability

to

successfully

produce

higher

volumes

of

more

valuable

products;

delays

and/or

costs

related

to

plant

construction,

improvements,

or

repairs

and

the

issuance

of

applicable

permits;

non-performance

by

or

disputes

with

major

customers,

suppliers,

dealers,

distributors

or

other

business

partners;

changes

in

financial

markets

impacting

pension

expense

and

funding

requirements;

political

and

economic

conditions,

including

the

impact

of

potential

terrorist

acts

and

international

hostilities;

and

changes

in

the

status

of,

or

initiation

of,

new

litigation

and/or

arbitration

proceedings.

These

and

other

applicable

risks

and

uncertainties

have

been

described

more

fully

in

Sunoco's

Third

Quarter

2005

Form

10-Q

filed

with

the

Securities

and

Exchange

Commission

on

November

3,

2005.

Other

factors

not

discussed

herein

also

could

materially

and

adversely

affect

Sunoco’s

business

prospects

and/or

performance.

All

forward-looking

statements

included

in

this

presentation

are

expressly

qualified

in

their

entirety

by

the

foregoing

cautionary

statements.

Sunoco

undertakes

no

obligation

to

update

any

forward-looking

statements

whether

as

a

result

of

new

information

or

future

events.

3

Sunoco Representatives

Jack Drosdick

Chairman and CEO

Tom Hofmann

SVP Finance and CFO

Joel Maness

SVP Refining & Supply

Bob Owens

SVP Retail Marketing

Bruce Fischer

SVP Chemicals

Mike Dingus

SVP Sun Coke

4

Strategic Review

Tom Hofmann

*************

*

*

*

*

*

5

Strategy has been consistent:

Get more from existing assets

Opportunistically upgrade the asset base

Return cash to shareholders

Maintain financial strength

Strategy

6

Strategy Has Been Consistent

0

1

2

3

4

5

6

7

8

2000

2001

2002

2003

2004

9M05

Share

Buyback &

Dividends

Growth &

Acquisitions

Capital

Expenditures

$1.89 B

$1.91 B

$2.87 B

Cumulative Cash Spending

7

Share Repurchase Activity

Shares

Repurchased

Total

Cost

Average

Price     

(MM)

(MM$)

($/share)

2000

10.4

   144

13.87

2001

21.4

   393

18.32

2002

--

     --

--

2003

  5.8

   136

23.36

2004

15.9

   568

35.68

2005 *

  6.7

   435

64.57

   Total

60.2

1,676

27.84

26% Reduction In Outstanding Shares

Since 12/31/99

*  Through December 5, 2005

8

Dividend Increases

$0.50

$0.55

$0.60

$0.80

3Q03

4Q03

3Q04

2Q05

60% increase over past two years

Annualized Dividend

9

Net Debt to Capital –

Revolver Covenant

22%

37%

42%

45%

12/31/02

12/31/03

12/31/04

9/30/05

10

Capital Program by Business Unit, MM$

2005

Est.

2006

  2007

2008

Total 

2006-2008

Refining & Supply

   703

   616

   675

   588

1,879

Retail Marketing

   143

   139

   136

   110

  385

Chemicals

     57

     84

     84

   100

  268

Logistics *

     38

     26

     26

     27

    79

Coke

     34

     15

     13

     13

    41

   Total

   975 

   880

   934

   838

2,652

* Excludes Sunoco Logistics growth investments

11

Capital Program by Business Unit, MM$

2005

Est.

2006

2007

2008

Total

2006-2008

Base

   Maintenance

   364

   352

   376 

   365

1,093

   Turnaround

     50

   101

   140

     74

   315

   Regulatory / Required

  423

   166

    83

     83

   332

   837

   619

   599

   522

1,740

Income Improvement * 

   138

   261

   335

   316

   912

   Total

   975 

   880

   934

   838

2,652

* Excludes Sunoco Logistics growth investments

12

2006 Cash Flow Model

Assumptions:

Based on assets currently owned

First Call consensus earnings estimate . . .

not guidance by Sunoco

Estimated cash tax rate of 35%

No change in working capital

Required debt payments are refinanced

Voluntary pension contribution of $100 MM

No share repurchase / option exercises

13

2006 Cash Flow Model, MM$

Income before Special Items

1,100 *

Non-Cash / Deferred / Other

     545 **

Capital Expenditures - Base 

(619)

Dividend

(105)

    Free Cash Flow

921

Divestment Proceeds

   60

Income Improvement Capital

(261)

Pension Contribution

(100)

   Net Cash Flow

   620

*  First Call consensus as of December 5, 2005

** See reconciliation to GAAP amounts in Appendix A3 and A4

14

Refining & Supply

More volume of higher

value products

Lower raw material costs

The Bottom Line

Lower

Breakeven

by   $1/bbl

15

Refining & Supply

More volume of higher

value products

Lower raw material costs

Other Businesses

New capacity in Coke

Retail portfolio upgrade

Chemicals optimization

Logistics

The Bottom Line

Lower

Breakeven

by 

$1/bbl

Goal: Annual

Earnings

Power of

$400MM by

2008

16

The Bottom Line

Increased Financial Capacity

On-going Commitments

Growth Opportunities

Return Cash to Shareholders

Further Building Upon our Consistent Strategy ...

17

Refining & Supply

Joel Maness

*

*

*

*

*

*************

18

Past Five Years

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

19

Operational Excellence Focus

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

SAFE

OSHA Recordable Rate

0.00

0.30

0.60

0.90

1.20

1.50

'01

'02

'03

'04

Oct YTD

Contractors

Employees

20

Operational Excellence Focus

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

RELIABLE

Utilization, % of Capacity

85%

90%

95%

100%

105%

'00

'01

'02

'03

'04

Oct YTD

Crude Units

Conversion  Units

21

Operational Excellence Focus

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

ENVIRONMENTALLY

SOUND

* Represents '98-'00 Average

Acquired Eagle Point January, 2004

Total Environmental Incidents

0

200

400

600

800

1000

1200

1400

'98-'00

'01

'02

'03

'04

Oct

YTD

Air

Water

Spills

22

Operational Excellence Focus

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

SOLOMON

PACESETTER

Solomon Indicators

80

83

86

89

92

95

'01

'02

'03

'04

Oct YTD

U E D C

E I I

* Acquired Eagle Point January, 2004

*

23

Operational Excellence Focus

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

OPTIMIZATION

"Value Advantaged" Crude

Processing, MB/D

0

50

100

150

200

2003

2004

2005 Est.

Hvy Sweet 

High Acid 

Synthetic

Product Revenues vs. Benchmark

200

300

400

500

600

700

800

2003

2004

2005 Est.

$ MM (Pre-Tax)

24

Past Five Years

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

Investments have been directed toward addressing

deficiencies in process units, critical infrastructure

and continuing to meet regulatory requirements

25

Past Five Years

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

Investments have been directed toward addressing

deficiencies in process units, critical infrastructure

and continuing to meet regulatory requirements

Opportunistically and with capital discipline,

considered acquisition opportunities

26

Past Five Years

R&S focus has been on extracting maximum value

from existing assets through Operational Excellence

Investments have been directed toward addressing

deficiencies in process units, critical infrastructure

and continuing to meet regulatory requirements

Opportunistically and with capital discipline,

considered acquisition opportunities

Through improved reliability, operating integrity and

the addition of Eagle Point, the productivity of our

refining system has improved significantly

27

Focus continues to be the 5 Fingers of Operational

Excellence and getting more from our existing assets

Continued Base Infrastructure and HES investments         

to further improve reliability, critical infrastructure

and operating integrity as we strive to make our

assets as good as they can be

Income Improvement capital focused on improving and

expanding our existing asset base

Planned Clean Fuels spending essentially complete in

2006

Going Forward

28

2005

Total

Est.

2006

2007

2008

2006-2008

Clean Fuels – Gasoline

357

13

   1

  -

   14

Clean Fuels – ULSD

  51

78

   2

  -

80

Section 114 / Other Environmental

  15

75

  80

83

238

Base Infrastructure

145

128

169

160

457

Capitalized Turnarounds

  50

101

140

  74

  315

      Sub-Total

618

395

392

317

1,104

Income Improvement

  85

221

283

271

   775

      Total

703

616

675

588

1,879

2005-2008 Capital Program

29

2006-2008

Expand Capacity 

250

Feedstock Flexibility

150

Improved Product Value

320

Energy Efficiency

  55

      Total

775

2006-2008 Capital Program

In total, $775 MM over next three years is targeted for

income improvement projects with aggregate Internal

Rates of Return in excess of 30%…

30

15,000 B/D expansion (70

85 MB/D)

Revamp to enable 25,000 B/D upgrade of resid

to

light products

Increase steam production ( 400

500 M lbs/hr)

Improve reliability

Broaden feedstock choices

Phila. Refinery -

FCC Expansion / Resid Processing

31

Capital Spending, MM$

Section 114

70

Base Infrastructure & T/A

40

Income Improvement

190

Total Spending

300

Financial Metrics *

Start-up Date

1Q '07

NIAT, MM$/yr

60

IRR % (All-in capital)

25

IRR % (Growth capital only)

45

Phila. Refinery -

FCC Expansion / Resid Processing

Key Project Metrics

* Assumes residual fuel to gasoline/distillate upgrade of

$15/B

32

Expand Toledo Crude Unit capacity to in excess of 

210 MB/D (from 160 MB/D) over the next 5 years

Phase 1 (20 MB/D) in 1Q ’07

Increase Toledo FCC Unit capacity to over 90 MB/D

(from 66 MB/D) and upgrade technology for improved

yields and feedstock flexibility

Increase syncrude processing capacity

Add required infrastructure and ancillary unit

processing capacity

Toledo Expansion

33

Key Project Metrics

Toledo Expansion

*

Assumes average gasoline/distillate margins of

$6 B

Capital Spending, MM$

Section 114

115

Base Infrastructure & T/A

70

Income Improvement

180

Total Spending

365

Financial Metrics *

Start-up Date, Phase 1

1Q '07

Completion of entire project

4Q '08

NIAT, MM$/yr

70

(Phase

1

20

)

IRR % (all-in capital)

20

IRR % (Growth capital only)

45

34

Conversion Unit Capacity, MB/D

452

372

307

2003

2005

2008 *

Crude Run Capacity, MB/D

1,000

900

730

2003

2005

2008 *

Income Improvement Projects

The end state will be an expanded refining system...

+ 60 MB/D in Northeast

+ 40 MB/D in Mid-Continent

* Targeted Capacity by year-end 2008

+ 35 MB/D in Northeast

+ 45 MB/D in Mid-Continent

35

Income Improvement Projects

With the capability to produce a larger volume...

* Targeted Capacity by year-end 2008

Crude Run & Production, MB/D

500

600

700

800

900

1000

1100

2003

2005 Est.

2008 *

Actual Crude Run  

Crude Run Capacity 

Net Production

36

Income Improvement Projects

Of more valuable products...

* Targeted Capacity by

year-end 2008

‘05P & ’08 at

8/05 YTD

Margins

Gasoline & Distillate Yield

(Percent of Total Net Production)

83.8%

81.9%

81.7%

'02-'04 Avg

2005 Est.

2008 *

Residual Fuel Oil Yield

(Percent of Total Net Production)

7.8%

8.2%

6.8%

'02-'04 Avg

2005 Est.

2008 *

Product Revenues vs. Benchmark 

($ MM Pretax)

0

200

400

600

800

1000

2003

2005 Est.

2008

37

from a less costly (and more plentiful) raw material slate...

Income Improvement Projects

* Targeted Capacity by

year-end 2008

"Value Advantaged" Crude Processing, MB/D

0

50

100

150

200

2003

2005 Est.

2008 *

Hvy

Sweet 

High Acid 

Synthetic

38

providing improved earnings power...

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

'03 Act

'04 Act

8/05 YTD

Act

'06

'07

'08

6-3-2-1* Break-even, $/B

Income Improvement Projects

(’06 –

’08 at Aug 2005 YTD Margins)

*Northeast Market Benchmark

39

Retail Marketing

Bob Owens

*

*

*

*

*

************

40

Retail Market View

Gasoline retail market remains attractive

Major oil brands consolidating and losing share

but still represent majority of market

New entrants competing with different models

underpinned by strong convenience store

economics

Sunoco moving to hi-grade network quickly and

strengthen retail model

41

Strategy

Maintain and improve existing retail network

Strong locations and C-store offering

Fuel quality and performance

Continue Retail Portfolio Management program

Harvest capital but retain brand business

Consider opportunities to further upgrade or

expand network

New dealer and distributor accounts

Opportunistic acquisitions

42

Strengthening the Network

Emphasis on upgrading existing network while

acquiring high-quality sites along I-95 corridor

Approximately $400 MM of capital expenditures and

$350 MM of acquisitions (12/31/01 –

9/30/05)

Self-funded through cash from operations and capital

harvested from RPM program

Capital employed today roughly the same as 2001

with 10% more sites and 15% higher fuel sales volume

Committed to three classes of trade

Growth has been concentrated in distributor and Co-

Op classes of trade while maintaining dealer network

Portfolio is better positioned to compete

43

Retail Portfolio Management (RPM)

Optimize invested capital

RPM is an integral part of the planning process

Retain volume with dealers / distributors

Expect over $250 MM real estate proceeds in 2003-06

Over 20% of Company-owned / leased sites

$100 MM from credit card outsourcing (2Q04)

Expect net gain on divestments

Re-deploys capital from lower-performing assets and

improves ROCE

44

2005-2008 Capital Program

2005

Est.

2006

2007

2008

Total

2006

-2008

Base

Infrastructure

Renewals

27

29

28

29

86

Systems

14

14

7

7

28

Maintenance

83

75

64

56

195

Sub-total

124

118

99

92

309

Income Improvement

19

21

37

18

76

Total

143

139

136

110

385

45

Current Portfolio *

2008 Goal *

Improved Annual Earnings Power, MM$

$75

$25

$100

*  Based on 9.3 cpg

average gasoline margin

Improvements

46

Chemicals

Bruce Fischer

*

*

*

*

*

*************

47

Two Major Product Lines

Polypropylene

#3 Capacity in

   North America **

Phenol

#1 Capacity in

North America

Capital Employed: $1.0 Billion

(as of 09/30/05)

* *Includes Epsilon JV

EPS Leverage* (cents)

0.4

Dow

7.3

Sunoco

9.6

Georgia Gulf

Phenol & Related

0.9

BP

1.3

Dow

1.5

Shell

1.6

AtoFina

11.8

Sunoco

Polypropylene

*

Impact of 1 cpp change in margin;

Source:  Lehman Brothers

48

0

15

30

45

60

75

90

105

2001

2002

2003

2004

9M05

$0.04 EPS

$0.18 EPS

Chemicals Earnings

…Steady Financial Improvement

$0.34 EPS

$0.63 EPS

$0.62 EPS

49

0

25

50

75

100

125

150

2001

2002

2003

2004

9M05

Chemicals Cash Flow*

* Excludes acquisitions and divestments.  See Appendix A5

50

North American Merchant Polypropylene

Selling Price: Townsend (blended price)

Propylene Price: CMAI (40% refinery grade, 60% polymer grade less 8% discount)

1H04

2H04

1H05

Selling Price vs Raw Material Cost, cpp

2H05

15

20

25

30

35

40

45

50

55

60

65

70

Dec-03

Mar-04

Jun-04

Sep-04

Dec-04

Mar-05

Jun-05

Sep-05

Dec-05

Selling Price

Propylene Acquisition

51

20

25

30

35

40

45

50

55

60

65

70

Dec-03

Mar-04

Jun-04

Sep-04

Dec-04

Mar-05

Jun-05

Sep-05

Dec-05

Phenol Price

Cumene Price

North American Merchant Phenol

Selling Price vs Raw Material Cost, cpp

Phenol Price = Blend of CMAI Wtd Avg Phenol and Cumene Based Formula Price

Cumene Price = CMAI Formula Price (ex-freight and natural gas)

1H04

2H04

1H05

2H05

52

Business Fundamentals

Near-term impacted by higher natural gas prices,

lower polypropylene demand and weaker phenol

margins

Supply expansions largely known…

demand is key

variable

Polypropylene margins should improve but Phenol

and Related margins will be challenged until Asian

capacity offset by demand growth

Customer and ownership landscape changing

53

Strategy

Secure optimal customer base

Phenol & Related: higher % cost-plus sales to

secure steady, reasonable return

Polypropylene: higher % floating sales in

expected improving market

Efficiency in energy / yield / cost

$1.00/DT change in natural gas = $6-7 MM

pretax

Optimize supply chain and assets

Upgrade feedstock position

FCC expansions

Evaluate growth alternatives

54

2005

Est.

2006

2007

2008

Total

2006-2008

Base / Infrastructure

48

67

69

  74

  210

Income Improvement

  9

17

15

  26

58

      Total

57

84

84

100

  268

2005-2008 Capital Program

Targeted capital spending

Feedstock upgrades (Neal / Marcus Hook splitters)

Polypropylene debottlenecks

(Texas facility)

Systems infrastructure (SAP, Supply Chain)

55

Chemicals Summary

Industry demand is lagging in 2005

North America markets are currently disconnected

due to high energy prices affecting competitiveness

Sunoco offsetting higher energy costs with

efficiency and selected debottleneck

projects

Sunoco’s downstream integration allows capture of

refinery value-added petrochemicals

Expect longer, flatter recovery cycle for Chemicals

56

Sun Coke

Mike Dingus

*

*

*

**************

57

58

59

60

Coke Plant Demand

400 MM ton world market

China, India and former Soviet republics = 250 MM tons

North America = 26 MM tons

Aging by-product plants along with tougher environmental

regulations will eventually result in shutdowns

New blast furnace cannot be financed without secure coke

supply

Steel companies no longer wish to rely on China as coke

supplier…want secure supply at a reasonable cost

61

Sun Coke Advantage

Superior Technology . .  . heat recovery vs. traditional

chemical by-product plants

lower capital and operating costs

higher quality coke . . . improved blast furnace efficiency

greater coal blend flexibility

environmentally superior . . . negative pressure . . .

thermally destruct most pollutants

convert waste heat into revenue generating steam or

electric power

Uniquely positioned as the technology of choice for

replacement of aging by-product plants and support of new

blast furnaces

62

Sun Coke Strategy

Demonstrate technology and develop growth plan, based on:

good customers, assets and credit in the steel industry

good logistics

stable energy markets with spot, medium and long-term

contracts

long-term take-or-pay contacts . . . coal price pass

through . . . targeted steady return on equity investment

seeks customers as partners

63

Sun Coke Today

Three U.S. coke plants producing 2.5 MM tons of coke

( 15% of U.S. supply) …

coal production of

approximately 1.2 MM tons annually

Coke sold under long-term contracts to Mittal, the

largest integrated steel company in the world

Internal coal supply primarily to Jewell Coke Plant

Synergy with Sunoco Chemicals phenol plant by

supplying 3.3 MM decatherm of steam annually and

saving Sunoco Chemicals $10-20 MM per year of

energy cost

Current Annual Income of Approximately $50 MM

64

Growth Plans for 2006-2008

1.7 MM ton plant in Vitoria, Brazil in construction …

expected 4Q06 completion …

CST, BelgoMineria, Acesita,

CVRD offtakers

Sun Coke expects to exercise option to own 20% ($30 MM

equity investment)

With technology and operating fees, adds approximately $15

MM / yr. of annual earnings

Successful development of five to six additional projects …

Incremental coke production of 4 to 5 MM tons for aggregate

Sun Coke production of 8 to 10MM tons

All plants with significant steam or electricity generating

capacity

Aggregate capital cost of $1.2-1.5 B to be financed on a

wholly-owned and/or Joint Ventures ownership with option of

non-recourse debt

65

Project Structure

Wholly-Owned

Expansion on existing

Sun Coke owned plants

with shared facilities

Typical Capital

Investment $210 MM for

100 ovens, 550 M tons

coke plant, 43 MW

power

Typical unlevered

NIAT

$20-25 MM per project

Option of obtaining debt

capital through non-

recourse project

financing

Joint Venture

New sites for

replacement/new coke

demand

Typical Capital

Investment $400 MM for

200 ovens, 1.1 MM tons

coke plant, 87 MW power

Sun Coke equity

investment generally $30-

35 MM

Typical Sun Coke NIAT

$15-20 MM including fees

Option of obtaining debt

capital through non-

recourse project financing

66

Active Development Projects

Four projects with LOI and Cost Sharing Program

in place with partners

1 project permit received with off-taker contract

close to completion

3 project permits in progress

Haverhill wholly-owned expansion permit

expected 1Q 2006 and contract negotiations in

process with off-takers

Goal: Grow Earnings Power to $150 MM Annually

by 2008

Appendix

*

*

*

*

*

*************

Earnings Profile, MM$

2000

2001

2002

2003

2004

9M05

Refining & Supply

317

290

(31)

261

541

661

Retail Marketing

  77

  87

20

  91

  68

    5

Chemicals

  16

    6

28

  53

  94

  86

Logistics

  46

  42

33

  26

  31

  19

Coke

  61

  61

42

  43

  40

  38

Corporate

  (23)

  (24)

(26)

  (40)

  (67)

  (57)

Net Financing

  (56)

  (82)

(91)

  (99)

  (78)

  (37)

438

380

(25)

335

629

715

   Special Items

  (16)

  18

(22)

  (23)

  (24)

  (28)

Consolidated Net Income (Loss)

422

398

(47)

312

605

687

EPS (diluted): 

Income (Loss) before Special Items

2.50

2.32

(0.16)

2.16

4.20

5.17

Special Items

(0.09)

0.11

(0.15)

(0.15)

(0.16)

(0.20)

Net Income (Loss)

2.41

2.43

(0.31)

2.01

4.04

4.97

A1

Summary of Results

2000

2001

2002

2003

2004

9M05

Income (Loss) before Special Items, MM$ *

438

380

(25)

335

629

715

Income (Loss) before Special Items EPS, $/share *

2.50

2.32

(0.16)

2.16

4.20

5.17

ROCE, % **

18.7

14.8

1.6

13.2

21.7

23.7

Debt / Capital, % (net of cash)***

47

†

49

45

42

37

22

Share Repurchase, MM$

144

393

--

136

568

167

Shares O/S @ Period-end, MM

169.7

151.1

152.9

150.8

138.7

136.1

Share Price @ Period-end, $/share

16.84

18.67

16.59

25.58

40.86

78.20

*      Reconciliation of Income (Loss) before Special Items to Net Income provided on slide A1.

**    Calculated using Income (Loss) before Special Items.

***    Revolver covenant calculation.

†

Pro-forma to reflect Aristech acquisition completed 1/1/01.

A2

Reconciliation of Non-GAAP Cash Flow, MM$

A3

2006

Model

Miscellaneous GAAP Cash Flow Items:

Non-cash reduction in minority interest in coke operations

  (40)

  Depreciation, depletion and amortization

445

Deferred income tax expense 

   90

  Payments less than (in excess of) expense for retirement plans*

   70

Other operating items

   40

  Cash distributions to investors in cokemaking and logistics operations

  (60)

Non-Cash/Deferred/Other (refer to slides 12 & 13)

545

* Excludes voluntary pension contribution of $100 MM

Cash Flow Statement (GAAP Basis), MM$

A4

* See 2006 cash flow model assumptions on slide #12.

Non-cash reduction in minority interest in coke operations

Cash Flow from Operating Activities

2006

Model *

Net Income

1,100

Adjustmentsto reconcile net income to

net

cash

provided by operating activities:

(40)

Depreciation, depletion and amortization

445

Deferred income tax expense

90

Payments less than (in excess of) expense for retirement plans

(30)

Other

40

Net cash provided by operating activities

1,605

Cash Flows from Investing Activities

Capital expenditures and acquisitions

(880)

Proceeds from divestments

60

Net cash used in investing activities

(820)

Cash Flows from Financing Activities

Cash distributions to investors

in cokemaking

and logistics operations

(60)

Cash dividend payments

(105)

Net cash used in financing activities

(165)

Net increase (decrease) in cash and cash equivalents

620

2001

2002

2003

2004

9M05

Cash Flow before Acquisitions

and Divestments

  58

  30

  111

121

105

Aristech Acquisition

(487)*

   7

  -

    -

    -

Equistar Transaction

-

  -

  (194)

    -

    -

Plasticizers divestment

-

  -

  -

  90

    -

BEF divestment

-

  -

  -

  15

    -

  Net Cash Flow

(429)

  37

   (83)

226

105

Chemicals Cash Flow

* Excludes debt assumed of $163 MM for Aristech and $4 MM for

Equistar

Transaction

A5

For More Information

Press releases and SEC filings are available

on our website at www.SunocoInc.com

Contact for more information:

Terry Delaney

(215) 977-6106

A6