EXTENSION OF CLOSING DATE FOR ISSUANCE OF NEW SHARES UNDER GENERAL MANDATE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.This announcement appears for information purpose only and does not constitute an invitation or offer to acquire purchase or subscribe for securities of Sunshine Oilsands Ltd.SUNSHINE OILSANDS LTD.阳光油砂有限公司* (a corporation incorporated under the Business Corporations Act of the Province of Alberta Canada with limited liability) (HKEX: 2012) EXTENSION OF CLOSING DATE FOR ISSUANCE OF NEW SHARES UNDER GENERAL MANDATE Reference is made to the announcement of Sunshine Oilsands Ltd. (the “Company”) (HKEX: 2012) dated May 10 2024 (the “Announcement”) in relation to among others the proposed issuance of 48695736 Relevant Shares of the Company to the Creditor (Mr. Zhang Jun) as full and final settlement of the Debt Payable under the General Mandate pursuant to the Settlement Agreement. Unless otherwise defined capitalised terms used herein have the same meanings as defined in the Announcement.EXTENSION OF CLOSING DATE As additional time is required for the placing and issuance of the relevant shares the Company and the Creditor entered into a supplemental agreement (the “Supplemental Agreement”) on June 7 2024 whereby the parties agreed to extend the closing date from June 7 2024 to July 31 2024 (or such later date as may be agreed between the Company and the Creditor). Save as the aforesaid change all other terms and conditions of the Settlement Agreement remain in full force and effect.By Order of the Board of Sunshine Oilsands Ltd.Kwok Ping Sun Executive Chairman Hong Kong June 7 2024 Calgary June 6 2024 As at the date of this announcement the Board consists of Mr. Kwok Ping Sun and Ms. Gloria Pui Yun Ho as executive directors; Mr. Michael John Hibberd Ms. Linna Liu and Ms. Xijuan Jiang as non-executive directors; and Mr. Yi He Ms. Jue Pang and Mr. Guangzhong Xing as independent non-executive directors.*For identification purposes only