Sunshine Oilsands Ltd. — Share Issue/Capital Change 2020

Feb 5, 2020

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Monthly Return of Equity Issuer on Movements in Securities

For the month ended (dd/mm/yyyy) : 31/1/2020

To : Hong Kong Exchanges and Clearing Limited

Name of Issuer Sunshine Oilsands Ltd. Date Submitted 5/2/2020

I. Movements in Authorised Share Capital

1. Ordinary Shares

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(1) Stock code : 2012 Description : Class “A” Common Shares
Par value Authorised share
No. of ordinary (State capital
shares currency) (State currency)
No par
value Unlimited
Balance at close of preceding month 6,405,581,506 CAD$ CAD$
Unlimited
Increase/(decrease) 0 CAD$
No par
value Unlimited
Balance at close of the month 6,405,581,506 CAD$ CAD$
(2) Stock code : N/A Description : N/A
Par value Authorised share
No. of ordinary (State capital
shares currency) (State currency)
Balance at close of preceding month N/A N/A N/A
Increase/(decrease) N/A N/A
Balance at close of the month N/A N/A N/A
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2. Preference Shares

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Stock code : N/A Description : Class “G” Preferred Shares
No. of Par value Authorised share
preference (State capital
shares currency) (State currency)
No par
value Unlimited
Balance at close of preceding month 0 CAD$ CAD$
Increase/(decrease) 0 N/A
No par
value Unlimited
Balance at close of the month 0 CAD$ CAD$
Stock code : N/A Description : Class “H” Preferred Shares
No. of Par value Authorised share
preference (State capital
shares currency) (State currency)
No par
value Unlimited
Balance at close of preceding month 0 CAD$ CAD$
Increase/(decrease) 0 N/A
No par
value Unlimited
Balance at close of the month 0 CAD$ CAD$
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3. Other Classes of Shares

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Stock code : N/A Description : N/A
No. of other Par value Authorised share
classes of (State capital
shares currency) (State currency)
Balance at close of preceding month N/A N/A N/A
Increase/(decrease) N/A N/A
Balance at close of the month N/A N/A N/A
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Total authorised share capital at the end of the month (State currency) :

Unlimited CAD$

II. Movements in Issued Share Capital

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No of preference
No. of ordinary shares shares
Class “G” and “H” No. of other
(1) (2) preferred shares classes of shares
Balance at close of
preceding month 6,405,581,506 N/A 0 N/A
Increase/ (decrease)
during the month 0 N/A 0 N/A
Balance at close of
the month 6,405,581,506 N/A 0 N/A
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III. Details of Movements in Issued Share Capital

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Share Options (under Share Option Schemes of the Issuer)
Particulars of No. of new No. of new shares of
share option shares of issuer issuer which may be
scheme issued during the issued pursuant
including EGM month pursuant thereto as at close of
Movement during the month
approval date thereto the month
(dd/mm/yyyy) and
class of shares
issuable Granted Exercised Cancelled Lapsed
1. Pre-IPO
Share Option
Scheme
( 09/09/2010 )
Class “A”
common shares 0 0 0 0 0 0
(Note 1)
2. Post -PIO
Share Option
Scheme
( 26/01/2012 )
Class “A”
common shares 0 0 1,696,667 0 0 456,587,775
(Note A)
3 . N/A
( / / )
shares N/A N/A N/A N/A N/A N/A
(Note 1)
Total A. (Ordinary shares) Nil
(Preference shares) N/A
(Other class) N/A
Total funds raised during the month from exercise
of options (State currency) N/A
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Warrants to Issue Shares of the Issuer which are to be Listed

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No. of new No. of new
shares of shares of
issuer issuer which
issued may be
during the issued
Nominal value month pursuant
Currency at close of Exercised Nominal value pursuant thereto as at
Description of warrants of nominal preceding during the at close of the thereto close of the
(Date of expiry - dd/mm/yyyy) value month month month month
1. N/A
N/A N/A N/A N/A N/A N/A
( / / )
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
2. N/A
N/A N/A N/A N/A N/A N/A
( / / )
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
3. N/A
N/A N/A N/A N/A N/A N/A
( / / )
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
4. N/A
N/A N/A N/A N/A N/A N/A
( / / )
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
Total B. (Ordinary shares) Nil
(Preference shares) N/A
(Other class) N/A
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Convertibles (i.e. Convertible into Shares of the Issuer which are to be Listed)

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No. of new No. of new
shares of shares of
issuer issuer which
issued may be
during the issued
month pursuant
Amount at pursuant thereto as at
Currency of close of Converted Amount at thereto close of the
amount preceding during the close of the month
Class and description outstanding month month month
1. Class “G” preferred shares
N/A 0 0 0 0 0
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy)) ( / / ) N/A
2. Class “H” preferred shares
N/A 0 0 0 0 0
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
3. Convertible Bonds in
Principal amount of
USD 10,450,000
USD 10,450,000 0 10,450,000 0 990,347,263
Stock code (if listed) N/A
Class of shares Class A Common
issuable (Note 1) Voting Shares
Subscription price HK$0.0822 per Share
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
4.
N/A 0 0 0 0 0
Stock code (if listed) N/A
Class of shares
issuable (Note 1) N/A
Subscription price N/A
EGM approval date
(if applicable)
(dd/mm/yyyy) ( / / ) N/A
Total C. (Ordinary shares) Nil
(Preference shares) N/A
(Other class) N/A
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Any other Agreements or Arrangements to Issue Shares of the Issuer which are to be Listed, including Options (other than under Share Option Schemes)

Options (other than under Share Option Schemes)	Options (other than under Share Option Schemes)
Full particulars including EGM approval date (dd/mm/yyyy), if applicable, and class of shares issuable:		No. of new shares of issuer issued during the month pursuant thereto No. of new shares of issuer which may be issued pursuant thereto as at close of the month
1. 2. 3.		N/A N/A N/A N/A N/A N/A	N/A
	( / / )
	shares_(Note 1)_
			N/A
	( / / )
	shares_(Note 1)_
			N/A
	( / / )
	shares_(Note 1)_
	Total D. (Ordinary shares)
	(Preference shares)
	(Other class)

Other Movements in Issued Share Capital

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No. of new No. of new
shares of shares of
issuer issued issuer
during the which may
month be issued
pursuant pursuant
thereto thereto as
at close of
Type of Issue the month
Class of shares _
issuable (Note 1)
State Issue and allotment ( / / )
1. Rights issue At price :
currency date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares _
issuable (Note 1)
State Issue and allotment ( / / )
2. Open offer At price :
currency date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares __
issuable (Note 1)
State Issue and allotment ( / / )
3. Placing At price :
currency date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
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Class of shares _
issuable (Note 1)
Issue and allotment ( / / )
4. Bonus issue
date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares _
issuable (Note 1)
State Issue and allotment ( / / )
5. Scrip dividend At price :
currency date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares _
repurchased (Note 1)
6. Repurchase of Cancellation date : ( / / )
shares (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares _
redeemed (Note 1)
7. Redemption of Redemption date : ( / / )
shares (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares __
issuable (Note 1)
8. Consideration State Issue and allotment ( / / )
At price :
issue currency date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
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Class of shares _
issuable (Note 1)
9. Capital Issue and allotment ( / / )
reorganisation date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy)
N/A N/A
Class of shares _
issuable (Note 1)
10. Other State
(Please specify) [At price : ] currency Issue and allotment ( / / )
date : (dd/mm/yyyy)
( / / )
EGM approval date:
(dd/mm/yyyy) N/A N/A
Total E. (Ordinary
shares) N/A
(Preference shares) N/A
(Other class) N/A
N/A
Total increase / (decrease) in ordinary shares during the month (i.e. Total of A to E): (1)
N/A
(2)
N/A
Total increase / (decrease) in preference shares during the month (i.e. Total of A to E):
Total increase / (decrease) in other classes of shares during the month (i.e. Total of A to N/A
E):
(These figures should be the same as the relevant figures under II above (“Movements in Issued Share
Capital”).)
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Remarks (if any):

- Note A: As at 1 January 2020, our Post IPO Share Option Scheme had 458,284,442 stock options outstanding. During the month of January 2020, Nil stock options were granted, Nil options were - exercised, 1,696,667 options were forfeited and nil stock options expired. As at 31 January 2020, our Post IPO Share Option Scheme had 456,587,775 stock options outstanding

Submitted by: _ Kwok Ping Sun_______

Title: __ Executive Chairman ____ (Director, Secretary or other duly authorised officer)

Notes :

1. State the class of shares (e.g. ordinary, preference or other).

2. If there is insufficient space, please append the prescribed continuation sheet.