Announcements

The Board of Directors of Sunshine Oilsands Ltd. is pleased to announce the following:

Reference is made to the announcements of the Corporation dated August 5, 2014, August 8, 2014 and February 5, 2016 in relation to, among other things, the offering of US$200 million principal amount of senior secured notes.

The Board is pleased to announce that all conditions of the Placing Agreement have been fulfilled and the Completion took place on January 24, 2017. An aggregate of 60,000,000 Placing Shares were allotted and issued to not less than six Placees at the Placing Price of HK$0.262 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

Sunshine Oilsands Ltd. recently won the “Best Corporate Social Responsibility Hong Kong Listed Company for 2016” award in the “Golden Hong Kong Stocks Poll” Awards ceremony.

The Board of Directors of Sunshine Oilsands Ltd. is pleased to announce the following:

The Corporation is pleased to announce that the West Ells Phase 1 project located in the Athabasca region of Alberta has reached a production volume of 2,200 barrels per day on January 3, 2017 (Hong Kong Time)/ January 2, 2016 (Calgary Time).

Reference is made to the announcement of the Corporation published on 7 December 2016 / 14 December 2016, in respect of the number of the Corporation’s shares held by China Life Insurance (Overseas) Co., Ltd.

Reference is made to the announcement of the Company published on 28 December 2016 in respect of the Private placement to Zhengwei International Investment And Management Co., Limited.

At the request of Sunshine Oilsands Ltd., trading in the shares of the Company on The Stock Exchange of Hong Kong Limited has been halted with effect from 9:00 a.m. on Thursday, 29 December, 2016 pending the release of an announcement of inside information of the Company.

The Board of Directors of Sunshine Oilsands Ltd. is pleased to announce the following:

The Board is pleased to announce that all conditions of the Placing Agreement have been fulfilled and the Completion took place on 14 December 2016. An aggregate of 50,000,000 Placing Shares were allotted and issued to not less than six Placees at the Placing Price of HK$0.321 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

The board of directors of Sunshine Oilsands Ltd. announces that share options to acquire Class “A” common shares in the capital of the Corporation were granted by the Corporation, to certainemployees of the Corporation, under its share option scheme adopted on January 26, 2012, as amended on May 7, 2013 and June 13, 2013, subject to acceptance by the Grantees, with details as follows: