Woodbois Regulatory News (WBI)

11 November 2021

Woodbois Limited

("Woodbois", the "Group" or the "Company")

COP26 Update

Woodbois Limited (AIM: WBI), the African-focused forestry, timber trading, reforestation and voluntary carbon credit company, is pleased to provide an update on the Company's participation at the United Nations Climate Change Conference ("COP26").

A number of the Company's Board members and senior leadership team have been in Glasgow, actively engaging with key stakeholders and taking part in discussions on tackling climate change and promoting the role that Woodbois can play in supporting host countries and international businesses in achieving their pledges.

Woodbois attended COP26 having been accredited to participate by the Government of Gabon, a country where it already has over 166,000 hectares of concessions for sustainable forestry. Woodbois held meetings with Gabon's Minister of Forests, Oceans, Environment and Climate Change, and other government representatives. Gabon, one of the few net carbon absorbing countries, has enshrined sustainable forestry practice in law and has lobbied throughout COP26 for developed nations to recognise the value to the planet of the Congo basin's forests as carbon sinks.

The Woodbois team also met Ministers of Forestry and the Environment from multiple other African countries, who were universally interested in the potential benefits of following our model of sustainable forestry and carbon sequestration through scaleable reforestation projects.

Members of Woodbois' carbon team will be at COP26 for the remainder of the conference and can be contacted via Ilene.hardy@woodbois.com should any delegates wish to meet them in person. The Company's activity can be followed on Twitter and LinkedIn.

Commenting on Woodbois' participation at COP26, Executive Chair, Paul Dolan, said:

"While the final outcome from COP26 currently remains in the balance, what has been clearly evident throughout the conference is the willingness of the private sector to mobilise capital for nature-based solutions in order to address global warming. Evidence of a climate crisis and the value of the earth's remaining tropical forests as a key mitigant, is recognised by people throughout the world and can no longer be ignored by policy makers. While we hope for a COP26 outcome containing strong commitments to action from the 180+ countries in attendance, our conviction is that regardless of outcome, a framework for a global carbon market bringing the ability to price carbon emissions and offsetting sequestration is inevitable, and we will continue to position the Company accordingly."

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Background on Woodbois

Woodbois Limited (AIM:WBI) is an African focused forestry company, divided into three distinct, but highly complementary divisions comprising the production and supply of sustainable African hardwood products, the trading of hardwood and hardwood products, and a reforestation and carbon credit division.

Woodbois' forestry division has production facilities in Gabon and Mozambique, managing a total of c470,000 hectares of natural forest concessions. The trading division comprises a highly experienced team of timber specialists, who source and supply sustainable timber to a global customer base. Its proprietary technology developed in-house, captures, stores and presents data, providing a matching engine to build scale and optimise trading opportunities with its global customer base.

The Company's carbon sequestration and trading division, which was formed in March 2021, aims to generate voluntary carbon credits for corporate partners through the delivery of large-scale reforestation projects.

The Company's focus on the transparency and sustainability of its timber operations has been recognised by The Zoological Society of London, which ranked Woodbois joint sixth in its Sustainability Policy Transparency Toolkit ('SPOTT'') ESG policy transparency assessments for the worldwide timber and pulp industries for 2021.

Please follow the Company on Twitter: @WoodboisLtd