Clarification on Inaccurate Moneyweb Article

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: 16 August 2023

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

Clarification on Inaccurate Moneyweb Article re Gas Discovery in South Africa

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy-focused development company, would like to clarify the statements made about the Company in a Moneyweb article dated 16 August 2023, which has since been corrected and updated.

The initial article stated that Kinetiko Energy made a massive gas discovery near Secunda, Mpumalanga, believed to be more than 10 trillion cubic feet in volume, and that Kinetiko Energy is linked to Kibo.

Kibo would like to clarify that neither Kinetiko Energy nor the gas discovery is linked to Kibo Energy in any way. The Moneyweb article has since been updated to reflect the correct factual position following objections to Moneyweb from both Kibo and Kinetiko.

**ENDS**

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

Johannesburg

16 August 2023

Corporate and Designated Adviser

River Group