Update on Acquisition of Carbon Resilience Pte Ltd

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: 23 December 2025

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

Update on Conditional Acquisition of Carbon Resilience Pte Limited

Kibo Energy PLC (AIM: KIBO, AltX: KBO) provides an update to its previous RNS announcements on 8^th and 16^th October 2025 regarding the conditional sale and purchase agreement (the "SPA") signed with FA SPC Real Asset Income Limited (the "FSRAIL") for the acquisition of Australian renewable energy development company Carbon Resilience Pte Limited ("Carbon Resilience") by way of a Reverse Takeover Transaction ("RTO").  FSRAIL and Carbon Resilience have not provided sufficient due diligence documentation within the required time under the terms of the SPA (non-fulfilment of conditions precedent) to allow the SPA to become effective.  Furthermore, the Noteholder providing funding under the CLN as notified on 8^th and 16^th October 2025 has not provided the second tranche of that CLN funding and therefore the Company will need alternative funding to meet its ongoing working capital requirements.

Consequently, the Company is now evaluating alternative opportunities and will update the market in due course.

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:

Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Johannesburg

23 December 2025

Corporate and Designated Adviser

River Group