TR-1: Standard form for notification of major holdings 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: 29 April 2020 Kibo Energy PLC (‘Kibo’ or the ‘Company’) TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of Kibo Energy PLC existing shares to which voting rights are attachedii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer X 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify)iii: 3. Details of person subject to the notification obligation iv Name Yakoub Yakoubov City and country of registered office (if applicable) 4. Full name of shareholder(s) (if different from 3.)v Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed or 29 April 2020 reachedvi: 6. Date on which issuer notified (DD/MM/YYYY): 29 April 2020 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights Total number of through financial Total of both in % (8.A attached to shares (total voting rights of instruments (total of 8.B + 8.B) of 8. A) issuervii 1 + 8.B 2) Resulting situation on the date on which threshold was crossed 5.35% 0% 5.35% 1,272,272,188 or reached Position of previous notification (if 4.04% 0% 4.04% applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii A: Voting rights attached to shares Class/type of shares Number of voting rightsix % of voting rights ISIN code (if possible) Direct Indirect Direct Indirect (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) ORDINARY SHARES OF EUR 68,033,333 0% 5.35% 0% 0.001 ISIN: IE00B97C0C31 SUBTOTAL 8. A 68,033,333 5.35% B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights Type of financial Expiration Exercise/ Conversion that may be acquired if the % of voting rights instrument datex Periodxi instrument is exercised/converted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Exercise/ Type of financial Expiration Physical or cash Number of Conversion % of voting rights instrument datex settlementxii voting rights Period xi SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity xiv (please add additional rows as necessary) % of voting rights % of voting rights if it through financial Total of both if it equals Namexv equals or is higher than instruments if it equals or or is higher than the the notifiable threshold is higher than the notifiable threshold notifiable threshold 10. In case of proxy voting, please identify: Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 11. Additional informationxvi Place of completion London, UK Date of completion 29 April 2020 **ENDS** 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 ETX Capital Limited Joint Broker Philip Adler +44 (0) 20 7392 1494 Bhavesh Patel / Stephen +44 20 3440 6800 RFC Ambrian Limited NOMAD on AIM Allen Isabel de Salis / +44 (0) 20 7236 1177 St Brides Partners Ltd Investor and Media Relations Beth Melluish Adviser Johannesburg 29 April 2020 Corporate and Designated Adviser River Group Date: 29-04-2020 04:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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