KIBO ENERGY PLC - Results of Annual General Meeting

Results of Annual General Meeting

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")

           7 December 2023

                                   Kibo Energy PLC ('Kibo' or the 'Company')
                                       Results of Annual General Meeting

           Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development
           company, announces the results of voting at its Annual General Meeting ("AGM") held today.
           Proxies were received by shareholders holding 21.51% of the shares in Kibo (3,779,866,683
           ordinary shares issued and outstanding).

           The proxy voting results at the AGM are shown in the table below: -
 Resolu             Summary Resolution                     Votes For &                     Votes                   *Votes
 -tion #                                                    Discretion                    Against                  Withheld
                                                         Number           %         Number           %         Number         %

    1.        To receive, consider and adopt the
              accounts for the year ended 31           807,317,393       99.91       761,442         0.09      5,150,000      n/a
              December 2022 and the Directors'
              and Auditor's Reports thereon.

    2.        To authorise the Directors to fix the    805,897,574       99.73      2,181,261        0.27      5,150,000      n/a
              remuneration of the Auditors

    3.        To re-elect Noel O'Keeffe as a           737,318,477       91.25     70,660,358        8.75      5,250,000      n/a
              Director.

    4.        To re-elect Ajay Saldanha as a           615,832,241      76.22     192,146,594       23.78     5,250,000       n/a
              Director.

    5.        That the Directors be and are hereby     527,220,477      64.84     285,858,358       35.16      150,000        n/a
              generally and unconditionally
              authorised to execute all powers of
              the Company to allot relevant
              securities.

    6.        That the Directors be and are hereby     527,220,477      64.84     285,858,358       35.16      150,000        n/a
              empowered pursuant to Section
              1023(3) of the Companies Act, 2014
              to allot equity securities.

    7.        That the Memorandum of                   527,220,477      64.84     285,858,358       35.16      150,000        n/a
              Association of the Company be
              updated

    8.        That the Articles of Association of      527,220,477      64.84     285,858,358       35.16      150,000        n/a
              the Company be updated.

*A vote withheld is not a vote in law and is not counted in the calculation of the proportion of votes "For" and "Against"

The Ordinary Resolutions 1, 2, 3, 4 & 5 were carried as their vote exceeded the required
threshold of 50% of proxies cast, voting in favour. The Special Resolutions, 6, 7 and 8 were
not carried as they did not reach the minimum threshold of 75% of proxies cast, voting in
favour.

Shareholders should note that Special Resolutions 7 & 8 on the Notice of AGM were matters
for which approval was sought to enable the Company to update the Company's Articles &
Memorandum of Association with the Companies Registration Office in Ireland following a
reduction in par value of the Company's shares and an increase in the authorised capital of the
Company previously approved at a Company's EGM held on 2 June 2023 last ("EGM"). The
failure to carry these two resolutions means that the Company's Memo & Articles of
Association cannot be updated at the Companies Registration Office to reflect the reduction in
par value and the increase in the authorised capital approved at the EGM and which remain
unaffected by the voting results today.

                                          **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
7 December 2023
Corporate and Designated Adviser
River Group

Date: 07-12-2023 04:15:00
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