Kibo Energy PLC (Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

LEI Code: 635400WTCRIZB6TVGZ23

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B97C0C31

('Kibo' or 'the Company')

Dated: 06 April 2023

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

Kibo Project Update

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-focused development company, is pleased to provide an operational update in follow-up to a Company RNS dated 1 February 2023.

Portfolio

The Kibo Group strategy, as previously announced in a Company RNS dated 19 April 2021, is focused on developing, owning and operating sustainable energy solutions that can immediately and progressively address the acute energy challenges in sub-Saharan Africa, the United Kingdom and Ireland.

The table below indicates the status of Kibo's Project Portfolio at present. Timelines beyond Q1 2023 remain as advised on 1 February 2023 and the Company will advise should these change in light of the below. This does not include opportunities that are currently the subject of advanced due diligence and commercial consideration.

Louis Coetzee, CEO of Kibo Energy, says: "We continue to advance the development of all Kibo's projects and remain confident of meeting deadlines set for 2023. That said, resolving the creation of new authorities (see RNS dated 16 March 2023) is of an increasing concern as this materially affects the Company's ability to secure project funding and debt financing at project level, which will inevitably impact on reaching financial close for the various projects at the set target dates."

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

06 April 2023

Corporate and Designated Adviser

River Group