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”) Kibo Energy PLC (‘Kibo’ or the ‘Company’) Dated: 04 September 2020 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) 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are Kibo Energy PLC attached: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer 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): conversion of loan note into equity X 3. Details of person subject to the notification obligation Name SPREADEX LTD City and country of registered office (if applicable) St Albans, UK 4. Full name of shareholder(s) (if different from 3.) Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed or 03/09/2020 reached: 6. Date on which issuer notified (DD/MM/YYYY): 03/09/2020 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 % attached to shares voting rights of instruments (8.A + 8.B) (total of 8. A) issuer (total of 8.B 1 + 8.B 2) Resulting situation 7.51% 0.00% 7.51% 1,392,802,477 on the date on which threshold was crossed or reached Position of previous notification (if 6.26% 0.31% 6.57% applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reached A: Voting rights attached to shares Class/type of shares Number of voting rights % 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) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) (DTR5.2.1) IE00B97C0C31 104,595,960 7.51% SUBTOTAL 8. A 104,595,960 7.51% 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/ that may be acquired if % of voting rights instrument date Conversion Period the instrument is exercised/converted. CFD/Spread Bet 35,277 0.00% SUBTOTAL 8. B 1 35,277 0.00% 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/ Physical or Type of financial Expiration Number of Conversion cash % of voting rights instrument date voting rights Period settlement 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) issue X 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 (please add additional rows as necessary) % of voting rights % of voting rights if it Total of both if it through financial equals or is higher equals or is higher Name instruments if it equals than the notifiable than the notifiable or is higher than the threshold 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 UK Date of completion 03/09/2020 **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 Charlotte Page / +44 (0) 20 7236 1177 St Brides Partners Ltd Investor and Media Relations Beth Melluish Adviser Notes Kibo Energy PLC is a multi-asset, Africa focused, 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 has a 60% interest in MAST Energy Developments Limited (‘MED’), a private UK registered company targeting the development and operation of flexible power plants to service the UK Reserve Power generation market. Johannesburg 04 September 2020 Corporate and Designated Adviser River Group Date: 04-09-2020 10:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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