Update regarding Kibo Warrant Exercise and TVR

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: 04 May 2023

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

Update regarding Kibo Warrant Exercise

TVR

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company, announces that further to its RNS/SENS announcement of 26 April 2023, the Company has requested that 116,250,000 of the shares it has applied for to be admitted for trading on AIM and the JSE, in its 26 April 2023 announcement, be deferred from being issued and admitted for trading, until full payment for the corresponding warrants, for which prior irrevocable exercise notices have been submitted, has been received. Accordingly, the Company has issued 168,274,625 Ordinary Shares to RiverFort Global Opportunities PCC Ltd in respect of the warrant exercise announced on 26 April 2023 for which trading on AIM and the JSE is expected on 5 May 2023 and for which full payment has been received by the Company from RiverFort Global Opportunities PCC Ltd ("Admission"). 

It needs to be noted that the deferment referred to above, following consultation with the relevant parties, does not affect any of the other actions / arrangements / agreements announced in the Company's RNS of 26 April 2023, particularly the Facility reprofiling outlined therein.

Total Voting Rights

Following Admission of the 168,274,625 Ordinary Shares to RiverFort Global Opportunities PCC Ltd and 510,369,286 Conversion Shares, the Company will have 3,731,866,683 shares in issue. The foregoing figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 and is announced in accordance with the Company's obligations under Article 17 of the specified Regulation.

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

Johannesburg

04 May 2023

Corporate and Designated Adviser

River Group