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 May 2022

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

Appointment of Group Chief Financial Officer

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the appointment of Mr. Cobus van der Merwe as Group Chief Financial Officer with effect from the 1^st June 2022.

Cobus  has over 10 years' experience in managerial and executive roles in the investment management and the energy, utilities and resources sectors. Most recently, Cobus held a Senior Management position at PricewaterhouseCoopers, servicing clients based in the United Kingdom, Ireland and Africa. Prior to this, he was Partner and Chair of the Investment Committee at PSG Wealth, where he  managed bespoke investment portfolios for high net-worth individuals. It was during this time that he gained extensive experience in capital raising and facilitating deal making. Cobus is a registered Chartered Accountant (South Africa).

Furthermore, the Company confirms that the current Group CFO, Mr. Pieter Krügel, has now been appointed as Chief Executive Officer of Mast Energy Developments ('MED'), from 1^st of June 2022.

Louis Coetzee, CEO of Kibo Energy, comments: "On behalf of the Company, we are delighted to welcome Cobus to the team. His strong background in investment management for the energy and resource industries will play an integral role in delivering the Group's growth strategy.

I would also like to thank Pieter for his significant contribution to the Group as CFO over the last 4 years and look forward to continue working with him as part of the Kibo group in his new capacity as CEO of MED."

**ENDS**

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

Johannesburg

20 May 2022

Corporate and Designated Adviser

River Group