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Full settlement of the Sanderson Capital Partners Limited Facility

Dated: 09 July 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to
announce that Kibo and Sanderson Capital Partners Limited (‘Sanderson’) have settled the outstanding balance
of GBP1,115,067.17 on the forward payment facility (the “Facility”) agreed on 20 December 2016.

Accordingly, Sanderson will be issued 21,239,375 new ordinary Kibo shares (the ‘Conversion Shares’) of par
value €0.015 each, at a price of 5.25p per Kibo share, a c.13% premium to the closing price of 4.65p on Friday
6 July 2018. The Company believes that the conversion at a premium is a strong endorsement of the Company’s
strategy, and with the termination of any claims by Sanderson Kibo can receive the full payment of US$3.7
million in cash due to it from its EPC contractor SEPCO III.

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Final RNS Sanderson Settlement 09 July 18

AIM Share Price
(Ticker: KIBO)
3.28p Change -0.13p
at close on 25 Sep 2018

JSE Share Price
(Ticker: KBO)
65.00c Change +0.00c
at close on 21 Sep 2018

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