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: 9 December 2022

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

Nomad Update and Suspension

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company announce that RFC Ambrian Ltd will cease to act as nominated adviser for the Company, with its last day being close of market today. The Company is in very advanced discussion with a new nominated adviser with their appointment subject to completion of due diligence, until which time the Company will be without a nominated adviser. Pursuant to Rule 1 of the AIM Rules for Companies, the ordinary shares in the Company will be suspended from trading on AIM at 7.30am on Monday 12 December 2022.

If, following such suspension, the Company fails to appoint a replacement nominated adviser within one month of the date that its shares are suspended from trading on AIM, the admission of the Company's shares to trading on AIM will be cancelled at 7.00 a.m. on Thursday 12 January 2023.

There can be no guarantee that the appointment of a new nominated adviser will be successful but the Company will keep the market informed of any further developments

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

**ENDS**

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

Johannesburg

9 December 2022

Corporate and Designated Adviser

River Group