Mbeya Power 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: 18 May 2022 Kibo Energy PLC ('Kibo' or the 'Company') Mbeya Power Update Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-focused development company, is pleased to provide an update to its Mbeya Power Project (‘MPP’), of which a renewed Memorandum of Understanding (‘MoU’) was announced in a Company RNS dated 23 November 2022. The MoU sets out clear guidelines, deliverables and timelines for the conclusion of a Power Purchase Agreement (‘PPA’) and related implementation agreements between Mbeya Power Limited, a 100% owned subsidiary of Kibo Energy, and the Tanzania Electric Supply Company Limited (‘TANESCO’). Mbeya Power Limited and representatives of TANESCO have engaged several times over the past months, with the latest meeting concluding in agreement on the due diligence scope and process for TANESCO’s due diligence on the MPP, in line with the agreed key project milestones. Further to this, the parties have agreed to the establishment of a Joint Technical Committee. The primary responsibility of the Joint Technical Committee will be to ensure the key milestones, as set out in the MoU, are met as agreed in the MOU. Louis Coetzee, CEO of Kibo Energy, says: “We are excited by the renewed commitment and enthusiasm that all parties are showing towards getting a PPA agreed asap and to be part of an opportunity to contribute towards addressing Tanzania’s extensive and urgent energy needs.” **ENDS** For further information please visit www.kibo.energy or contact: Louis Coetzee info@kibo.energy Kibo Energy PLC Chief Executive Officer James Biddle +44 207 628 3396 Beaumont Cornish Limited Nominated Adviser Roland Cornish Claire Noyce +44 20 3764 2341 Hybridan LLP Joint Broker Damon Heath +44 207 186 9952 Shard Capital Partners LLP Joint Broker Zainab Slemang zainab@lifacommunications.com Lifa Communications Investor and Media van Rijmenant Relations Consultant Johannesburg 18 May 2023 Corporate and Designated Adviser River Group Date: 18-05-2023 08:00:00 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.