Issue of Shares in lieu of Payment

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")

25 January 2023

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

Issue of Shares in lieu of Payment to Service Provider

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development company, announces the issue of 14,025,314 ordinary shares at 0.14 pence per share, of par value €0.001 each (the "Settlement Shares") to a service provider in payment of an outstanding invoice for value of £19,635.44

Total Voting Rights

Application will be made for the Settlement Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Subscription Shares is expected to commence on AIM and the JSE on or around 1 February 2023 ('Admission'). Following Admission, the Company will have 3,053,222,772 shares in issue and this figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

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

Johannesburg

25 January 2023

Corporate and Designated Adviser

River Group