Update on MED Definitive and Binding JVA

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: 31 July 2023

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

Kibo Subsidiary Mast Energy Developments ("MED"): Update on Definitive and Binding Joint Venture Agreement

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-focused development company notes the expected date for completion of the MED transaction, as notified on 12 July 2023, was 28 July 2023. The Company understands that MED is working to finalise this as soon as practicable.

**ENDS**

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

Johannesburg

31 July 2023

Corporate and Designated Adviser

River Group