Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings 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 April 2024 Kibo Energy PLC ('Kibo' or the 'Company') Kibo Subsidiary Announces TR-1 Notification of Major Shareholdings Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company, announces a TR-1 Notification by its subsidiary Mast Energy Developments PLC ('MED'), a UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market. The proceeds from the disposal of the MED shares amounting to approximately £22,250 have been used to reduce the outstanding balance on the Company's reprofiled bridge loan facility with RiverFort Global Opportunities PCC Ltd. (refer Kibo RNS announcements of 11 and 26 April 2023). Further details can be found in the full MED announcement, which is available below and at med.energy: ––––––––––––––––––––––––– Dated: 23 April 2024 TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) 1a. Identity of the issuer or the underlying issuer of Mast Energy Developments PLC existing shares to which voting rights are attached 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) 2. Reason for the notification (please mark the appropriate box or boxes with an "X") An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify) 3. Details of person subject to the notification obligation Name Kibo Mining (Cyprus) Limited City and country of registered office (if applicable) Limassol Cyprus 4. Full name of shareholder(s) (if different from 3.) Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed or reached: 18/04/24 6. Date on which issuer notified (DD/MM/YYYY): 23/04/24 7. Total positions of person(s) subject to the notification obligation % of voting rights Total number of % of voting rights through financial Total of both in % voting rights held attached to shares instruments (total of (8.A + 8.B) in issuer (8.A + (total of 8. A) 8.B 1 + 8.B 2) 8.B) Resulting situation on the date on which threshold 31.54% 31.54% 83,211,746 was crossed or reached Position of previous 33.15% 33.15% notification (if applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached A: Voting rights attached to shares Class/type of shares Number of voting rights % of voting rights ISIN code (if possible) Direct Indirect Direct Indirect (DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1) GB00BMBSCV12 83,211,746 31.54% SUBTOTAL 8. A 83,211,746 B 1: Financial Instruments according to DTR5.3.1R (1) (a) Number of voting rights Type of financial Exercise/ that may be acquired if Expiration date % of voting rights instrument Conversion Period the instrument is exercised/converted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b) Type of Expiration Exercise/ Physical or cash Number of financial % of voting rights date Conversion Period Settlement voting rights instrument SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X") Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity X xiv (please add additional rows as necessary) % of voting rights % of voting rights if it through financial Total of both if it equals Name equals or is higher than instruments if it equals or or is higher than the the notifiable threshold is higher than the notifiable threshold notifiable threshold Kibo Energy PLC Kibo Mining (Cyprus) Limited 31.54% 31.54% 10. In case of proxy voting, please identify: Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional information xvi Place of completion Limassol, Cyprus Date of completion 19/04/24 This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ('UK MAR'). Upon the publication of this announcement, this inside information is now considered to be in the public domain. For further information please visit www.med.energy or contact: Pieter Krügel info@med.energy Mast Energy Developments PLC CEO Jon Belliss +44 (0)20 7399 9425 Novum Securities Corporate Broker _________________________ **ENDS** For further information please visit www.kibo.energy or contact: Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer James Biddle +44 207 628 3396 Beaumont Cornish Limited Nominated Adviser Roland Cornish Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker Damon Heath +44 207 186 9952 Shard Capital Partners LLP Joint Broker 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 April 2024 Corporate and Designated Adviser River Group Date: 23-04-2024 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.