KIBO ENERGY PLC - Issue of Shares to Service Provider

Issue of Shares to Service Provider

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

Dated: 5 March 2024

                       Kibo Energy PLC ("Kibo "or "the Company")
                            Issue of Shares to Service Provider

Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable energy focused development
company, announces the issue of 81,081,081 ordinary shares of par value €0.0001 each at
an issue price of 0.037 pence per share (the "Settlement Shares") to a service provider in
payment of outstandings invoices for a total value of £30,000. The issue price is the 10-day
VWAP of the Kibo share on AIM on 1 March 2024.

This share issue relates to a pre-agreed invoice settlement arrangement with the service
provider in September 2023 for which the share issue was deferred pending Kibo
shareholder approval for dis-application of pre-emptive rights. This dis-application was
recently obtained at the Company's EGM on 9 February last.

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 8 March 2024 ('Admission'). Following Admission, the Company
will have 4,360,947,764 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 is made in accordance with the requirements of the Market Abuse Regulations
(EU) no. 596/2014 (part of UK law by virtue of the European Union (Withdrawal) Act 2018) and AIM
Rule 21.

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

Louis Coetzee     info@kibo.energy       Kibo Energy PLC              Chief Executive Officer
Andreas Lianos    +357 99 53 1107        River Group                  JSE Corporate and Designated Adviser
Claire Noyce      +44 (0) 20 3764 2341   Hybridan LLP                 Joint Broker
Damon Heath       +44 207 186 9952       Shard Capital Partners LLP   Joint Broker
James Biddle      +44 207 628 3396       Beaumont Cornish             Nominated Adviser
Roland Cornish                           Limited

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
5 March 2024
Corporate and Designated Adviser River Group

Date: 05-03-2024 09:00:00
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