Settlement of Outstanding Loan and Issue of Shares 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”) 20 May 2022 Kibo Energy PLC (‘Kibo’ or the ‘Company’) Settlement of Outstanding Loan and Issue of Shares Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, has today issued 56,118,047 new Kibo Shares of €0.001 each (“the Settlement Shares”) at a deemed issue price of £0.0016 per share (“Settlement Share Price”) to Sanderson Capital Partners Limited (“Sanderson”) in full and final settlement of £89,788.88 of the total remaining outstanding amount owing pursuant to the Forward Payment Facility (“the Facility”) signed between Sanderson and the Company in December 2016. The Settlement Share Price is the closing price of the Company shares on the AIM market of the London Stock Exchange ("AIM") on 21 March 2022. Total Voting Rights As the Company is currently suspended, admission to trading on AIM will be delayed until either the Company is readmitted, having published its new admission document, or the suspension has been lifted. Following the issue of the Settlement Shares, the Company will have 3,039,197,458 shares in issue. Following the issues of the above shares, Sanderson will hold a 12.79% interest in the Company. **ENDS** This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR"). 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 Bhavesh Patel / +44 20 3440 6800 RFC Ambrian Ltd NOMAD on AIM Stephen Allen Sewela sewela@lifacommunications.com Lifa Communications Investor and Media Relations Adviser Makgolane Johannesburg 20 May 2022 Corporate and Designated Adviser River Group Date: 20-05-2022 04:00:00 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.