Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B97C0C31

("Kibo" or "the Company")

Dated: 20 October 2021

Kibo Energy PLC ('Kibo' or the 'Company')

MED Signs Term Sheet to Fund the Development and Construction of Bordesley and Rochdale Reserve Power Projects

Kibo Energy PLC, the multi-asset energy development company, notes that its 55% subsidiary, MAST Energy Developments PLC ("MAST"), today announced that Close Leasing Ltd, a subsidiary of Close Brothers Group plc (the "Lender"), have offered facilities to MED to fund the development and construction of the Company's two owned Reserve Power projects currently in development, Bordesley and Rochdale (the "Projects").

The facilities are offered subject to the successful completion of due diligence (including legal, technical and financial) and other relevant regulatory checks and approvals.  Final details of the facilities will be confirmed at financial close.

**ENDS**

For further information please visit www.kibo.energy or contact:

Johannesburg

20 October 2021

Corporate and Designated Adviser

River Group