KIBO ENERGY PLC - Strategic Development Agreement with SEPCOIII

Strategic Development Agreement with SEPCOIII

 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”)

 Dated: 1 October 2018

                                Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                             Strategic Development Agreement with SEPCOIII

 Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused energy company, advises an
 update further to the announcement of 3 July 2018 relating to the Strategic Development Agreement (‘SDA’)
 signed with China based SEPCOIII (‘SEPCOIII’), in which the intention of SEPCO III to make one or more
 equity investments in Kibo was announced.

 SEPCO III’s internal investment approval process is ongoing and could not be completed before the 30
 September 2018 due date by which all conditions, including required approvals, had to be obtained.

 The parties have mutually agreed to extend the due date for this process to 30 November 2018. Further updates
 will be provided in due course.

                                               **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            +27 (0) 83 4408365         River Group                 Corporate and Designated
                                                                                   Adviser on JSE

  Ben Tadd /                +44 (0) 20 3700 0093       SVS Securities Limited      Joint Broker
  Tom Curran

  Jon Belliss               +44 (0) 20 7399 9400       Novum Securities Ltd        Joint Broker

  Andrew Thomson            +61 8 9480 2500            RFC Ambrian Limited         NOMAD on AIM

  Isabel de Salis / Gaby    +44 (0) 20 7236 1177       St Brides Partners Ltd      Investor and Media
  Jenner                                                                           Relations Adviser


 Notes to editors
 Kibo Energy PLC is a multi-asset, Africa focussed, energy company positioned to address the acute power
 deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end,
 it is the Company’s objective to become a leading independent power producer in the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project
(‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana; and the Benga
Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in parallel, the Company
intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement,
equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will
benefit from its robust and experienced international blue-chip partnership network across its project portfolio,
which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon
Consulting (South Africa); ABSA / Barclays Africa; and Hogan Lovells International LLP.

Johannesburg
01 October 2018
Corporate and Designated Adviser
River Group

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