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")

20 May 2022

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

Settlement of Outstanding Loan and Issue of Shares

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, has today issued 56,118,047 new Kibo Shares of €0.001 each ("the Settlement Shares") at a deemed issue price of £0.0016 per share ("Settlement Share Price") to Sanderson Capital Partners Limited ("Sanderson") in full and final settlement of £89,788.88 of the total remaining outstanding amount owing pursuant to the Forward Payment Facility ("the Facility") signed between Sanderson and the Company in December 2016.

The Settlement Share Price is the closing price of the Company shares on the AIM market of the London Stock Exchange ("AIM") on 21 March 2022.

Total Voting Rights

As the Company is currently suspended, admission to trading on AIM will be delayed until either the Company is readmitted, having published its new admission document, or the suspension has been lifted. Following the issue of the Settlement Shares, the Company will have 3,039,197,458 shares in issue.

Following the issues of the above shares, Sanderson will hold a 12.79% interest in the Company.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

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

Johannesburg

20 May 2022

Corporate and Designated Adviser

River Group