Kibo Energy Regulatory News (KIBO)

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: 06 May 2021

MAST Energy Developments PLC: Operational Update

Kibo Energy PLC ('Kibo' or the 'Company'), the multi-asset, Africa & UK focused energy company notes an RNS by MAST Energy Developments PLC ('MAST') issued today and that can be viewed at the following link:

https://polaris.brighterir.com/public/mast_energy_developments/news/rns/story/rg4317r

MAST Energy Developments PLC is a reserve/peaking power company in which Kibo holds a 55% interest.

**ENDS**

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

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.

Johannesburg

06 May 2021

Corporate and Designated Adviser

River Group