Project Acquisition Update

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: 7.00am on 14 April 2025

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

Project Acquisition Update

Kibo Energy PLC (AIM: KIBO; AltX: KBO), is pleased to announce that it is at an advanced stage in its assessment of potential projects that it is considering for acquisition under a Reverse Takeover Transaction ("RTO"). Under AIM Rule 15, trading in the Company's shares will be suspended on AIM from 7.30 a.m. on 14 April 2025.

The JSE has determined that there is no basis to suspend trading in the Company's securities at this stage and trading on the JSE will not be suspended at this stage.

The Company will keep the market updated on progress with its project acquisition discussions.

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:

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

14 April 2025

Corporate and Designated Adviser

River Group