Kibo Energy PLC

Share Issue/Capital Change • Dec 15, 2022

National Storage Mechanism | Additional information

RNS Number : 8819J

Kibo Energy PLC

15 December 2022

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: 15 December 2022

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

Settlement Shares Sale

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company announces that further to its RNS announcement of 29 July 2022 on receipt of 28,735,632 shares (the "Settlement Shares") from Mast Energy Development PLC, in lieu of cash for partial settlement of £1m of the total remaining outstanding amount owing to Kibo's wholly owned subsidiary, Kibo Mining (Cyprus) Limited, the Company has decided to realize a portion of said share payment in cash. To this effect the Company has now realized in cash net proceeds of £239,513.76 through the sale of 7,417,270 of said Settlement Shares.

Kibo's current shareholding in MED following this share sale is 57.86% and the Company has today informed MED of this updated shareholding by issuing it a TR-1 notification.

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:

Louis Coetzee	info@kibo.energy	Kibo Energy PLC	Chief Executive Officer
Andreas Lianos	+357 99 53 1107	River Group	JSE Corporate and Designated Adviser
Claire Noyce	+44 (0) 20 3764 2341	Hybridan LLP	Joint Broker
Damon Heath	+44 207 186 9952	Shard Capital Partners LLP	Joint Broker
Zainab Slemang van Rijmenant	Zainab@lifacommunications.com	Lifa Communications	Investor and Media Relations Consultant

Johannesburg

15 December 2022

Corporate and Designated Adviser

River Group

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