Mul ti -Asset I nternational Energy D evelopment Company - Q4 2020 Corporate Presentation - Kibo Energy
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Multi-Asset
International Energy
Development
C o m p a ny
Corporate Presentation
Q4 2020
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2 DISCLAIMER These presentation slides (the “Slides”) do not constitute an offer to the public or an offer for sale or solicitation to purchase or subscribe for any securities of Kibo Energy plc (the “Company”) and they should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or buy securities in the Company. If any person is in doubt as to the contents of this presentation, or wishes to obtain advice as to the investment merits of the Company’s securities, he should seek independent advice from a person who is an authorised financial services provider. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. The information contained in these Slides and the accompanying verbal presentation is in the public domain, however no representation or warranty, express or implied, is given by or on behalf of the Company, its advisors, shareholders, directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted for any such information or opinions (save that nothing in this disclaimer is intended to limit the liability of any party for its own fraud). The Slides and their contents are directed only at persons who fall within the exemptions contained in Articles 19 and 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (such as persons who are authorised or exempt persons within the meaning of the Financial Services and Markets Act 2000 and certain other persons having professional experience relating to investments, high net worth companies, unincorporated associations or partnerships, and the trustees of high value trusts) and persons to whom distribution may otherwise lawfully be made. Any investment, investment activity or controlled activity to which the Slides relates is available only to such persons and will be engaged in only with such persons. Any individual who is in any doubt about the investment to which these Slides relate should consult an authorised person specialising in advising on investments of the kind referred to in these Slides. Persons of any other description, including those that do not have professional experience in matters relating to investments, should not rely or act upon the Slides. The Slides are not for distribution in, nor do they constitute an offer of securities for sale in, any jurisdiction where such distribution or offer is unlawful, including the United States of America, Australia, the Republic of South Africa, the Republic of Ireland, Japan or Canada. The distribution of the Slides in some jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions. Statements made in the Slides and accompanying verbal presentation may include forward-looking statements that necessarily involve risks and uncertainties. Forward-looking statements may generally be identified by the use of terminology such as “may”, “will”, ”expect”, ”intend”, “plan”, “estimate”, “anticipate”, “believe”, or similar phrases. Other than statements of historical facts, all statements, including, among others, statements regarding the future financial position of the Company, business strategy, projected levels of growth in its market, projected costs, estimates of capital expenditures and plans and objectives of management for future operation, are forward-looking statements. The actual future performance of the company could differ materially from these forward-looking statements. Important factors that could cause actual results to differ materially from these expectations including known and unknown risks. Undue reliance should not be placed on these forward-looking statements. Corporate Presentation Q4 2020
3 OVERVIEW
Proactive early adopter of sustainable clean energy solutions for base load electricity and committed to building a renewable
energy portfolio by incorporating technologies
Diverse energy project portfolio comprising 1,055 MW generation capacity nearing commercialisation
Robust & de-risked portfolio developed to bankable feasibility stage with exception of MCIPP, which is at feasibility
stage
Projects range from large utility scale energy projects of up to 600 MW to smaller reserve-emergency power
generation projects of 5 MW
Nine revenue streams planned to progressively come online in over the next 42 months from five power plants & four
power purchase agreements
Outstanding execution & implementation capability & capacity through strategic partnerships with GE, SEPCOIII, STEAG, ESS &
Statkraft
Corporate Presentation Q4 2020
4 PROJECT PORTFOLIO
Diverse portfolio of advanced, strategically positioned energy projects
Mast Energy Developments, UK (60% interest)
• Building a portfolio of sites focused on the reserve power generation
market
• Kibo has a 100% interest in a 5 MW gas fuelled peaking plant
• Terms for acquisition of additional 9 MW gas fuelled peaking plant
agreed
• Plans for lPO and listing of energy portfolio on standard market of LSE
during Q4 2020
Katoro Gold PLC, Tanzania & South Africa
(29.63% interest)
Mabesekwa Coal Independent Power Project, Botswana (85% • AIM listed company focused on battery metals & gold
• Recently signed JV to develop tailings project in South
interest) Africa for gold & other metals
This Project comprises of a 300-600 MW coal fired power plant, supplied by a
shared Mabesekwa coal mine. The Project has a clear development path ahead,
with achievable short-term deliverables. Mbeya Coal to Power Project, Tanzania (100%
interest)
Shumba/Power China CTL Project, Botswana (35%-40% interest) • Planned 120 Mt coal mine & 300 MW mouth-of-mine
This new integrated project comprises a Kibo interest of 35 – 40% in a 761 MT power station
(resource) coal mine and 35 – 40% in a 300 MW bespoke coal fired power plant • Options for commercialisation being pursued
exclusively pointed at the CTL Plant.
• The 761 MT Coal Resource* with a Mining Licence application submitted, Benga Power Plant Project, Mozambique (65%
will be supplying 100% of the feedstock to the Shumba CTL plant, 100% of interest)
fuel supply to the bespoke powerplant for the CTL project, and 100% fuel • Plan to operate a 300-350 MW coal fired power station
supply to the future MCIPP power plant • Term Sheet to develop c.200 MW PPA with Baobab
• The bespoke 300 MW power plant will supply 100% of its produced power Resources for Tete Steel Project
to the CTL plant • MOUs with EDM & Vale to develop 100-150 MW PPA
*Refer Appendix 4 for details
Corporate Presentation Q4 2020
5 STRATEGY
Advance Kibo as a significant regional energy developer of sustainable power solutions
Advance portfolio of Finalise funding
1 large, near-term energy
assets 2 partners &
development plans
Achieve early
Enhance energy assets
construction status with
with the introduction of
3 a clear view to
production in the short 4 clean coal and
renewable technologies
term
Utilise expertise and
Capitalise value & build
network to identify new
5 energy assets to further
diversify portfolio
6 stakeholder value
Corporate Presentation Q4 2020
6 STRONG INTERNATIONAL PARTNERS
WORLD CLASS CONSULTANTS CRITICAL COMMERCIAL ARRANGEMENTS
Corporate Presentation Q4 2020
77 ENERGY SOLUTIONS
Energy solutions driven by environmental preservation & economic viability
CLEAN COAL TECHNOLOGIES (CCT) RENEWABLES
Super and Ultra Super Solar PV Panels
Critical Steam Cycles
Biomass Fuel Mix Wind Turbines
Carbon Capture & Storage Hydro Turbines
Latest CFB and Flue Gas Energy Storage Solutions
Desulphurization
Technologies
Kibo considers all available CCT & has developed unique
clean coal solutions for all its energy projects.
Kibo utilises its blue-chip international partners network to
create cutting edge solutions.
Kibo was awarded most Innovative Project Development
Deal of the Year 2017 at annual GE International
Leadership Summit Awards held in New York, USA.
Corporate Presentation Q4 2020
8 KEY MARKET DYNAMICS - AFRICA
Major energy issues in Africa; urgent need for power
• Rapidly growing market economy with an acute power
deficit
• 60% of Africa’s population is without electricity
• 600 m people in sub-Saharan Africa live without power
• Power shortages prevent Africa’s annual growth GDP
increasing by at least 2%
• Manufacturers lose an average of 56 days of production a
year due to power shortages
• 620 m Africans rely on firewood, kerosene & charcoal for
cooking, heating and lighting
• 600,000 Africans, mainly women and children, die
prematurely every year due to illnesses caused by indoor
air pollution caused by firewood, kerosene and charcoal
• Hydroelectricity capacity can’t be depended upon due to
recurrent droughts on the continent
Source: Data compiled from World Bank, World Economic Forum & World Future Council
websites - figures are approximate
Corporate Presentation Q4 2020
9 MOZAMBIQUE POWER PLANT DEVELOPMENT PROJECT
Kibo’s most advanced stand-alone energy project in Africa
• Located in Tete Province of Mozambique, within well-developed
coal producing region TANZANIA
• Plans for 300 – 350 MW coal fuelled power station, with
contingency for 400 MW aiming at three PPA’s for which
preliminary agreements are in place:
• Binding Term Sheet to Supply 200 MW power to Baobab MOZAMBIQUE
Resource’s Tete Steel & Vanadium Project in Mozambique
(RNS 18 May 2020)
• MoU with Electricidade de Mozambique (‘EDM’) for TETE PROVINCE
development of PPA for supply of 100 – 150 MW power to
national grid (RNS 12 December 2018)
• Non-binding Term Sheet with Vale for Power Purchase
Agreement (‘PPA’) for 37% of available power (based on
earlier design capacity of 100 – 150 MW) (RNS 5 September
2020)
• Term Sheet for Coal supply agreement signed with Vale
Mozambique
• Definitive Feasibility Study update being considered to
accommodate one centrally located power plant with base capacity
of 350 MW and provision for expansion to 400 MW
• Land rights secured and water use options in place for power plant
• Agreement with ESS to develop suitable base-load electricity
storage solutions
• Supported by JV, Mozambique energy company, Termoeléctrica de
Benga S.A., & the Government
Corporate Presentation Q4 2020
10 BENGA – NEXT STEPS
Top down approach enables expedited development timeline
1
Complete
Environmental & Social
Impact Assessment
(ESIA)
2
Optimise financial
model & DFS for one MOZAMBIQUE
integrated 300 – 350
MW power plant
3 5
Complete Commercial EPC specifications & WHY MOZAMBIQUE
Coal Supply bid process
Agreements • Only c.30% of the population has access to electricity
• Demand for power grows steadily between 6-8% per year and about
4
Complete PPA 20% in the north where most of the mining operations are located
negotiations with • EDM, the state owned electric utility provider, has a mandate to
EDM ,Baobab & Vale connect 400,000 new customers each year
(Source: https://www.usaid.gov/powerafrica/mozambique)
Corporate Presentation Q4 202011 BOTSWANA ENERGY PROJECT PORTFOLIO*
Development of coal mine & two associated thermal power plants
COAL MINE
• SAMREC compliant 761 Mt Coal Resource (266 Mt
currently attributable to Kibo, c. 35% interest) **
• Coal quality and quantity exceed requirements for
power plants
• Coal at average depth of 50-60 m, starting at depth
of 18 m with average coal seam thickness of 5 m
• Estimated coal production of 7.5 Mtpa
• c. 40 km west of village of Tonota & c. 50 km
southwest of Francistown, Botswana’s second
largest city
• Indicative coal off-take:
Petrochemical Plant : 4.5mtpa BOTSWANA
KP1 : 1.5mtpa
KP2 : 1.5mtpa
* The details stated in this presentation with regard to the reorganisation of the MCIPP are subject to completion of a Definitive Agreement being
concluded with Shumba Energy based on a binding Heads of Agreement announced by Kibo RNS on the 25th September 2019. The first step in concluding
this Definitive Agreement, a Shareholder Agreement giving the Company a 35% interest in JV company Kibo Energy Botswana was signed and announced
on 6 December 2019 (RNS dated Dec 6, 2019)
** Refer to Appendix 4 for details
Corporate Presentation Q4 202012 BOTSWANA ENERGY PROJECT PORTFOLIO
Development of coal mine & two associated thermal power plants
POWER PLANT 1 (KP1) POWER PLANT 2 (KP2)
• Project designed for capacity of 300 MW (2x150 • Project designed for maximum capacity of 600
MW) MW (4x150 MW), dependant on grid integration
and evacuation constraints
• Located c.6 km from the mine mouth, with coal
transported by conveyor belt • Located c.6 km from the mine mouth, with coal
transported by conveyor belt
• Exclusive supply of power to Petrochemical
plant, estimated at 1840 GWh pa (644 GWhpa • 40 km water pipeline will be constructed from
attributable to Kibo @ 35% interest) Shashe Dam to provide raw water for process &
sanitary use - back-up water provided by nearby
• Water available well fields
• Plant life of to be matched with petrochemical • Plant life of 40 years, working as a baseload
plant generator
• To be constructed as either Pulverized Fuel Fired • To be constructed as either Pulverized Fuel Fired
Boiler or Circulating Fluidised Bed Boiler Boiler or Circulating Fluidised Bed Boiler
• Limestone sourced from South Africa & • Limestone sourced from South Africa &
transported by rail & trucks transported by rail & trucks
Corporate Presentation Q4 202013 BOTSWANA ENERGY PROJECT PORTFOLIO – NEXT STEPS
1
Conclude Definitive
Agreement with
Shumba Energy based
on recent Heads of
Terms for re-
organisation of 2
business in Botswana Advance business plan
under terms of Definitive
Agreement through JV
finalisation, Power
Purchase & Coal Sale
3 Agreements and Feasibility
Awaiting issue of Study commencements
Mining Right on
Mabesekwa WHY BOTSWANA
5 4 • Positioning as a centre for innovation & investment in Africa
Advance project Advance project • Low taxes & no foreign exchange controls or restrictions on business
development of KP1, development of KP2 • Consistent government investment in core infrastructure
aligned with Shumba • Ranked in top 4 most attractive investment destinations in Africa
Petrochemical Plant and No.1 lowest risk profile by Quantum Global Research Lab’s
development Africa Investment Index 2018 http://quantumglobalgroup.com/
Corporate Presentation Q4 202014 MBEYA COAL TO POWER PROJECT
COAL MINE POWER PLANT
• 300 MW (2x150 MW) mine-mouth coal fired power
• Standalone project to support power plant life with station planned - potential to expand plant to 1000
a funding requirement of $17 million MW
• 120.8 Mt Coal Resource* - 20.9 Mt of Measured, • Base case layout confirmed as optimal design
88.6 Mt of Indicated & 11.3 Mt of Inferred (Circulating Fluidised Bed boiler technology/ 2X150
MW units)
• 25-32 year Life of Mine - Kibo controls seven
recently approved coal mining licences contiguous • Established infrastructure with vast water supply,
with proposed mine site thus securing long term extensive road and rail connections, national grid 20
supply of fuel km away and 70 km from southern regional capital
Mbeya
• Coal exceeds standard technical requirements of
the power plant • DPFS annual power output target of 1,840 GWh/a &
average coal consumption of 1.5 Mt per year
• IRR of 69.2% and 2.4 year payback period all in cost confirmed
margin of 39%
• Plant designed as carbon capture ready
• Power Station coal requirements reduced by 23% in
Definitive Mining Feasibility Study enabling • Approval from TANESCO to develop plant for the
significant environmental and cost benefits export power market
• Modified terrace mining confirmed as the most
optimal and cost effective extractive method for
the coal mine
*Refer to appendix 5 for further details
Sketch of the proposed power plant
Corporate Presentation Q4 202015 MBEYA – NEXT STEPS
1A 1B
Developing Export Maintain Negotiations
Option for the MCPP with TANESCO to
with EAPP/SAPP include MCPP in
official Tanzanian
Power Export, as part
TANZANIA
2 of its 880 MW
Finalise export Power Commitment by 2020
Off Take Agreements
3
Finalise Business Case
for Funding Due
Diligence
WHY TANZANIA
• Power demand is growing by 10% to 15% per year with only 24% of the
population having access to electricity*
• National installed power generation capacity of 1,442 MW with just 64%
utilisation of all power generating plants on average
(Source: https://www.tanzaniainvest.com/energy/power-capacity-2017)
Corporate Presentation Q4 202016 MAST ENERGY DEVELOPMENTS LTD
Building portfolio of near-term revenue generating assets
• MAST Energy Developments Ltd (“MED”) is a private UK company
targeting the development & operation of flexible power plants to service
the Reserve Power generation market
• Strategy to acquire and develop a portfolio of small-scale power
generation assets that help balance out the UK’s national grid at critical
times
• Options to acquire several peaking power sites totalling 57.5 MW
• Financial modelling indicates projected IRRs of 13-16% and NPVs of GBP
16 -19 million for the initial assets
Increasing use of renewables
• Recent agreement with Balance Power Projects in the UK to build pipeline
of shovel ready power plant sites
• Comprehensive Joint Development Agreement signed with AB Impianti
S.R.L (“AB”) with access to AB construction and engineering capacity and
capability, cogeneration plant and equipment as well as a comprehensive
funding solution for the construction and commissioning of all sites
ultimately approved and accepted for development, by AB
• 100% owned Kibo UK subsidiary Sloane Developments Ltd acquires 100%
of MED in preparation for IPO and listing on the LSE (RNS 6 Aug. 20)
• Heads of Terms in place for Sloane to acquire a production-ready 9 MW
flexible gas power project (RNS 7 Sep 20)
• Sloane already holds a direct 100% interest in 5 MW gas-fuelled power
generation plant
Corporate Presentation Q4 202017 MED – THE NEXT STEPS
1a 1b 1
Complete acquisition of Complete MED Construction &
recently announced 9 admission to the commissioning of
MW FlexPower Site Standard List of the Bordersley Power
London Stock Exchange Plant
2a 2b
Complete development Complete development
and commissioning of 9 and commissioning of
MW FlexPower site to Bordersley to first
first production production
(https://www.clarke-energy.com/2020/amy-jonson-way-peaking/)
3
Negotiate acquisition of
other small gas WHY THE UK
powered generating
FlexPower sites under
• Increasing volatility from structural shift from fossil fuels to
option
4 renewable sources and rising spend on gas & electricity has resulted
Expand generating capacity in tight capacity margins during peak times
in the UK by constructing & • Opportunity to provide balancing services
commissioning additional • In the spotlight after the UK suffered multiple blackouts building up
FlexPower sites to August 2019
Corporate Presentation Q4 202018 KATORO GOLD PLC
29.63% interest in battery metals and gold focused AIM quoted Katoro Gold PLC
Overview Haneti Nickel Project
• Focused on building and advancing a portfolio of • 29 mineral rights covering approx. 5,000 sq. km
battery metals assets up the development curve
towards production to capitalise on strong demand • Key target is 80 km belt prospective for nickel,
fundamentals in the sector copper and platinum group metals
• Evaluating multiple projects across Africa to rapidly • Recently identified potential for lithium pegmatite
build portfolio and associated elements of niobium and tantalum
• Excellent relationships with governments & local • Geophysical interpretation work has identified
authorities significant extensions to nickel sulphide prospective
target rock formations
• Recently signed JV to develop gold tailings project in
South Africa (see next slide) • Developing with JV partner, Power Metal Resources
plc, which has a 35% interest
• Further details: www.katorogold.com
• Drilling programme on first Nickel-PGM targets being
mobilised (October 2020)
Black Tourmaline and Lithium Mica in Pegmtite Dyke
Haneti tenements & infrastructure
Corporate Presentation Q4 2020 1819 KATORO GOLD PLC
Joint Venture with Blyvoor Gold Operations Ltd
Binding conditional agreement to form a 50/50 unincorporated joint
venture with Blyvoor Gold Operations (Pty) Ltd., and its holding company,
Target Mine Consulting (Pty) Ltd.
Plan to exploit potentially viable deposits of gold and any other
minerals from six gold tailings dams owned by Blyvoor in South Africa
The tailings are mined by means of hydromining methods, utilising high
pressure water cannons to hydraulically mobilise the in-situ tailings
Key Information
(https://katorogold.com/wp-content/uploads/2020/07/Katoro-Blyvoor-Gold-July-2020-WebsiteF.pdf)
• 6 Tailings dams containing 1.3moz JORC compliant resources at an
average grade of 0.3 g/t Au (for all the TSF’s).
• Production to be ramped up to 500,000 tpm expected after year 3
producing 36,700 oz Au per annum at its peak.
• Projected 25-year life of mine.
• Projected low all in sustaining costs (AISC) of US$727.
• Environmental liabilities funded.
• Experienced management team with proven track record and significant
relevant experience.
Corporate Presentation Q4 202020 AFRICAN PROJECT PORTFOLIO OVERVIEW
Mozambique Tanzania South Africa & Tanzania
BPPP MCPP Katoro
*150 MW, 920 GWh pa Production 300 MW, 1840 GWh pa Production Gold & Nickel-PGM Projects
(25 Years) 120 Mt Resource, 1.5 Mtpa Production (25 Years)
*DFS currently
being considered
for update to
accommodate
up to 400 MW
Kibo – 65% Termoeléctrica de Benga – 35% Kibo – 100% Kibo 29.63% Others 70.37%
Botswana Botswana Botswana
MCIPP – KP2 Shumba Petrochemical Project – KP1
761 Mt Resource
300 MW, 1840 GWh pa Production 300 MW, 1840 GWh pa Production
6 Mtpa Production
Kibo - 35% Shumba - 65% Kibo 85% Shumba 15% Kibo - 35% Shumba - 65%
Corporate Presentation Q4 202021 Mast Energy Developments’ UK FlexPower Projects
MED FlexPower Projects – Summary Holding Structure
Kibo Energy PLC
Pending
Sloane Developments Ltd
100% SPVs holding FlexPower Projects
“NEWCO” New Projects
Mast Energy Projects Ltd Project Generation, Bordersley Power Ltd 9 MW FlexPower Plant
Evaluation and Management Company Bordersley (5 MW) for which acquisition
(Pipeline of new projects in development) term sheet in place
Building a Portfolio of flexible reserve power sites (FlexPower) in the UK with
A target of 100 MW aggregate capacity in the next 12 months
Corporate Presentation Q4 202022 KIBO INVESTMENT CASE
Clear strategy & defined milestones
Diverse portfolio of advanced,
supported by rigorous technical &
significantly de-risked & strategically
economic evaluations
positioned energy projects
NAV of c. £28.3m* vs. current market Excellent relationships with governments
capitalisation of £5.1m, offers significant & local authorities, major international
growth opportunity for investors - no partnerships & committed investors
material debt obligations
*As per 2019 audited annual accounts
Innovative in both project development
Steered by a highly experienced Board
& the incorporation of progressive
& Management team with a proven
strategies such as renewable
track record
technologies
Corporate Presentation Q4 202023 APPENDIX 1 - SNAPSHOT
SHARE PRICE PERFORMANCE
0.35p
SHARE PRICE MARKET CAP 0.30p
0.24p ~£5.17m 0.25p
MILLION 0.20p
0.15p
As at 01 October 2020 April 2020 October 2020
DIRECTORS AND OTHER KEY
K E Y D ATA SHAREHOLDERS
Shareholder Name %
AIM: KIBO
Stock Exchanges Sanderson Capital Partners Ltd (& related parties)* 11.37%
JSE: KBO
Spreadex Limited* 5.02%
Shares in Issue 2,154,776,522 Yakoub Yakoubov* 3.16%
Louis Coetzee (& related parties) (Director) 0.91%
Warrants Issued 1,275,833,420 Andrew Lianos (& related Parties) (Director) 0.79%
Tinus Maree (& related parties) (Director) 0.34%
Fully Diluted 3,430,609,942 Noel O'Keeffe (& related parties) (Director) 0.33%
Christian Schaffalitzky (&related parties) (Director) 0.28%
Shares not in public hands 23.30% Wenzel Kerremans (Director) 0.06%
* These figures are calculated based on the most recent shareholding
information available to the Company.
Corporate Presentation Q4 202024 APPENDIX 2 - BOARD
A team to deliver
Christian Schaffalitzky Christian is a geologist with over 40 years experience in mineral exploration and mining finance.
Non-Executive Chairman He is Managing Director of AIM-listed Eurasia Mining PLC
Louis Coetzee Louis is an entrepreneur with 25 years experience in business development, promotion and financing. He
CEO was Vice-President of Business Development with TSX listed Great Basin Gold Limited between 2007-2009
and Chairman and CEO of ASX listed East Africa Resources from 2010 - 2012. He is also Executive
Chairman at Katoro Gold PLC (AIM: KAT).
Andrew Lianos
Andrew is a chartered accountant with over 25 years experience across a range of senior roles. He’s a co-
FD (Non-Executive)
founder and director of River Group - an International corporate finance house.
Tinus Maree Tinus is a lawyer with extensive public company directorship experience. He has a successful record in the
Executive Director development and sale of mineral projects in Tanzania. Tinus is a Director of Katoro Gold PLC (AIM: KAT).
Wenzel Kerremans Wenzel is a lawyer with over 25 years of legal experience in mining, banking and project finance. He also
Non-Executive Director benefits from extensive experience in advising clients on mining investment in Africa.
Noel O’Keeffe Noel is a geologist with over 30 years experience in mineral exploration. Before joining Kibo he was a
Technical Director (Non- Exploration Manager of AIM-listedOrmonde Mining PLC in Tanzania.
Executive)
Corporate Presentation Q4 202025 APPENDIX 3 - CORPORATE SOCIAL RESPONSIBILITY IN TANZANIA
• Kibo is committed to revitalising the local and regional economies where it operates
• By harnessing the local labour market in every stage of the project, Kibo will provide jobs and
ongoing training for its employees
• Every employee of Kibo, from board members to cleaning personnel, holds stock in the Company
• The health and safety of employees are a priority to the Company
• Kibo takes every step to minimise the environmental impact of its projects
• By reducing the reliance on charcoal, Kibo will help against deforestation and desertification
Local Tanzanian schoolchildren in the Kibo funded new schoolroom under Classroom finished in 2018
old classrooms construction 2018
Corporate Presentation Q4 202026 APPENDIX 4 - MCIPP COAL RESOURCE STATEMENT
SAMREC Compliant Coal Resource Estimate Review by qualified person
(Mabesekwa Coal Resource Statement (SAMREC-Compliant) from Competent Persons' Report prepared by Gemecs
(Pty) Ltd for Sechaba Natural Resources (Pty) Limited, - 31 January 2018)
SEAM DEPTH
GROSS IN MINEABLE
AREA RESOURCE GEOLOGICA THICKNES BELOW
AREA (m2) SEAM SITU IN SITU The information in this table is extracted from an RNS entitled
NAME CLASS L LOSS % S SURFAC
TONNES TONNES
E (m)
“Reorganization of the Mabesekwa Coal Independent Power
(m)
26 728 764 SG MEASURED 0 5% 0
Project Arrangements ("MCIPP")” dated 25 September 2019 and is
PL428 26 728 764 SG INDICATED 0 10% 0 available on the Kibo (the “Company”) website www.kibo.energy
26 728 764 SG INFERRED 3 374 600 15% 2 868 410 2.47 46.6 The Company confirms that it is not aware of any new information
SG TOTAL 3 374 600 2 868 410 2.47 46.6 or data that materially affects the information included in the
26 728 764 SF MEASURED 3 580 000 5% 3 401 000 3.77 46.9
PL428 26 728 764 SF INDICATED 16 894 500 10% 15 205 050 3.04 43.6
original market announcement and, in the case of estimates of
26 728 764 SF INFERRED 2 579 400 15% 2 192 490 2.86 43.1 Mineral Resources or Ore Reserves, that all material assumptions
SF TOTAL 23 053 900 20 798 540 3.13 44.1 and technical parameters underpinning the estimates in the
26 728 764 SE MEASURED 1 701 500 5% 1 616 425 2.91 39.4 relevant market announcement continue to apply and have not
PL428 26 728 764 SE INDICATED 23 255 200 10% 20 929 680 3.21 40.5
26 728 764 SE INFERRED 37 555 800 15% 31 922 430 3.92 35.1
materially changed. The Company confirms that the form and
SE TOTAL 62 512 500 54 468 535 3.63 37.2 context in which the Competent Person’s findings are presented
26 728 764 SD MEASURED 8 283 900 5% 7 869 705 3.81 50.8 have not been materially modified from the original market
PL428 26 728 764 SD INDICATED 47 821 700 10% 43 039 530 3.40 44.0 announcement.
26 728 764 SD INFERRED 12 132 300 15% 10 312 455 2.79 35.4
SD TOTAL 68 237 900 61 221 690 3.34 43.3
26 728 764 SC MEASURED 22 123 800 5% 21 017 610 4.49 44.1
PL428 26 728 764 SC INDICATED 104 931 800 10% 94 438 620 4.58 41.2
26 728 764 SC INFERRED 32 729 100 15% 27 819 735 4.16 36.3
SC TOTAL 159 784 700 143 275 965 4.48 40.6
Kibo’s current attributable interest in the total
26 728 764 SB MEASURED 41 178 500 5% 39 119 575 6.32 46.4
MCIPP Coal Resource (“Total Resource”) is
PL428 26 728 764 SB INDICATED 209 968 000 10% 188 971 200 6.64 46.0
26 728 764 SB INFERRED 61 192 400 15% 52 013 540 6.55 44.4
*266 Mt or 35% following a Shareholder
SB TOTAL 312 338 900 280 104 315 6.58 45.7
Agreement signed with Shumba Energy
26 728 764 SA MEASURED 37 900 600 5% 36 005 570 7.54 54.1 Limited announced on 6 December 2019
PL428 26 728 764 SA INDICATED 146 796 100 10% 132 116 490 6.48 54.8
26 728 764 SA INFERRED 35 578 200 15% 30 241 470 6.16 56.7
*Figures rounded to the nearest million tonne
SA TOTAL 220 274 896 198 363 526 6.61 55.0
TOTAL COAL ALL SEAMS 849 577 400 10% 761 100 985
Corporate Presentation Q4 202027 APPENDIX 5 - MCPP COAL RESOURCE STATEMENT
NI43-101 Compliant Coal Resource Estimate Review by qualified person
RAW QUALITIES (AIR DRIED)
INSITU %
INSITU
Megatons RD ASH IM VM CV TS The information in this table is extracted from an RNS
SEAM
SEAM
THICKNESS
NI43-101
CLASS
Megatons GEOLOGICAL
No discount DISCOUNT
with
discount grn/GG % % % % %
entitled “Mbeya Coal to Power project (MCPP)-
S4 Measured 0 -5% 0 Restatement of the Mbeya Coal Resource
S3U 2.25 Measured 3.186 -5% 3.027 1.65 43.7 5.3 23.1 14.6 1.96
S3L 2.58 Measured 3.722 -5% 3.536 1.58 36.6 6.2 25.2 16.9 1.45
Completed” dated 11 April 2016 and is available on
S2 3.89 Measured 6.279 -5% 5.965 1.56 34.7 6.5 24.5 17.3 1.31 the Kibo (“the Company”) website www.kibo.energy
S1 U 2.61 Measured 4.180 -5% 3.971 1.67 38.4 5.7 23.1 16.1 1
S1 L 2.92 Measured 4.159 -5% 3.951 1.56 33.7 6 23.6 17.8 0.86
S0 1.39 Measured 0.477 -5% 0.453 1.59 37.7 6.2 22.5 16.0 0.42
The Company confirms that it is not aware of any new
MEASURED 22,044 -5% 20.904 1.6 36.91 6.02 23.92 16.68 1.26 information or data that materially affects the
S4 1.04 Indicated 3.49 -10% 3.14 1.74 48.6 5.2 22.1 12.8 1.36
S3 U 2.09 Indicated 12.17 -10% 10.95 1.67 45.5 5.3 22.2 14.2 1.55
information included in the original market
S3L 2 Indicated 13.08 -10% 11.77 1.64 41.3 5.1 24 15.6 1.97 announcement and, in the case of estimates of
S2 3.41 Indicated 25.64 -10% 23.08 1.58 36.9 5.8 24.4 16.8 1.1
S1 U 2.26 Indicated 18.16 -10% 16.34 1.72 44.3 5 22 14.2 1.02
Mineral Resources or Ore Reserves, that all material
S1 L 2.74 Indicated 21.29 -10% 19.16 1.67 38.1 5.2 22.6 16.4 0.66 assumptions and technical parameters underpinning
S0 1.31 Indicated 4.61 -10% 4.15 1.66 41.4 5.5 21.4 15.2 0.69
INDICATED 98.28 -10% 88.601 1.65 40.79 5.31 23.01 15.52 1.15
the estimates in the relevant market announcement
S4 0.82 Inferred 0.4 -15% 0.3 1.87 56.9 5.1 18.9 9.6 0.99 continue to apply and have not materially changed.
S3 U 2.48 Inferred 2.3 -15% 2 1.69 46.9 5.1 21.5 13.5 1.49
S3 L 1.79 Inferred 1.8 -15% 1.5 1.75 47.6 5.2 21.7 13.2 2.43
S2 3 Inferred 2.2 -15% 1.9 1.54 33.7 6.4 24.6 17.7 1.32
The Company confirms that the form and context in
S1 U 2.26 Inferred 2.8 -15% 2.4 1.74 42.3 5.8 212.9 14.2 1.01 which the Competent Person’s findings are presented
S1 L 2.93 Inferred 3.6 -15% 3.1 1.68 35.6 5.5 23.2 17 0.85
S0 1.13 Inferred 0.1 -15% 0.1 1.67 44.3 5.4 20.5 13.9 0.5
have not been materially modified from the original
INFERRED 13.280 -15% 11.288 1.69 40.99 5.58 22.51 15.17 1.29 market announcement.
GRAND TOTAL 133.729 120.793 1.65 40.17 5.45 21.11 15.68 1.18
Technical Notes:
→ Minimum Seam thickness = 0.5m
→ Maximum %Raw Ash = 70%
Kibo’s attributable interest in the MCPP Coal
→ Borehole densities: Resource is 100% following the acquisition of
Measured 8bh/100ha
Indicated 4bh/100ha the residual 2.5% held by Sanderson Capital
Inferred 1bh/100ha
→ Geological discount for unforeseen Partners Limited as announced in the
geological features
Measured Resources -5%
Company’s RNS of the 5th March 2019
Indicated Resources -10%
Inferred Resources – 15%
Corporate Presentation Q4 202028 APPENDIX 6 – ENERGY SUMMARY
Power
Covered Under Attributable to Kibo
Description Total Project Portfolio
Provisional PPA (covered under provisional PPA)
MW Est. GWh pa Est. GWh pa % Est. GWh pa
*Mozambique Power 350 2,147 c.1,227 65% c.797
Sub - Total 350 2,147 c. 1,227 c.797
Power 14 c.15 c.15 100% c.15
**UK
Sub - Total 14 c.15 c.15 c.15
MCPP Power 300 1,840 0 100% 0
Tanzania Coal Refer Appendix 7
Sub - Total 300 1,840 0 0
MCIPP Power 300 1,840 0 85% 0
Botswana
Petro Chem Power 300 1,840 1,840 35% 644
Petrochemical
Coal 1 (Petro Chem)
Plant
Coal 2 (Petro Chem Power) Refer Appendix 7
Coal 3 (MCIPP)
Sub - Total 600 3,680 1,840 644
Portfolio Total 1,264.00 7,682,12 c.3,082 c.1,456
*Following the recent signing of heads of terms with Baobab Resources Ltd to negotiate a PPA for the supply of c. 200 MW to its Tete
Steel and Vanadium Project, the Company is currently examining a revision of its Benga DFS to accommodate a total power plant capacity of up
to 400 MW (RNS 1 October 2020) at a single plant location.
** Comprises output from the Bordersley project (5 MW) and the new 9 MW site announced on 7 September 2020 for which heads of terms
for acquisition were signed.
Corporate Presentation Q4 202029 APPENDIX 7 – COAL RESOURCE SUMMARY
Coal
Description Total Indicative Covered Under Total Attributable Production
Production Provisional CSA (covered under provisional CSA)
Mtpa Mtpa % Mtpa
Tanzania MCPP Power Refer Appendix 6
Coal 1.5 1.5 100% 1.5
Sub - Total 1.5 1.5 1.5
MCIPP
Power Refer Appendix 6
Petro Chem Power
Botswana
Petro Chem Coal 1(Petro Chem) 4.5 4.5 35% 1.58
Coal 2 (Petro Chem Power) 1.5 1.5 35% 0.53
Coal 3 (MCIPP) 1.5 1.5 85% 1.28
Sub - Total 7.5 7.5 3.41
Portfolio Total 9 9 4.91
Corporate Presentation Q4 202030 APPENDIX 8 - GLOSSARY OF TECHNICAL TERMS & ABBREVIATIONS Corporate Presentation Q4 2020
Louis Coetzee, CEO
Andreas Lianos, FD
Gray Office Park, Galway Retail Park
Headford Road, Galway City, Ireland
+353 91 511463
info@kibo.energy
www.kibo.energy
@KiboEnergy
UK BROKERS
ETX CAPITAL LIMITED
+44 (0)20 7392 1494
Monecor (London) Limited (trading as ETX
Capital) is acting as Kibo Energy PLC’s corporate
broker and is authorised and regulated by the
Financial Conduct Authority with registered
number 124721.
NOMAD
RFC AMBRIAN LIMITED
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+44 20 3440 6800
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