WBI Woodbois Limited

19 December 2024

WOODBOIS LIMITED

("Woodbois" or the "Company")

Conversion of 585 million non-voting shares

Woodbois Limited announces that it has received a conversion notice from Rhino Ventures Limited for the conversion, on a one-to-one basis, of its remaining 585,000,000 non-voting ordinary shares (the "Conversion Shares") into voting ordinary shares in the Company (the "Conversion"). The Conversion will be effective at Admission (as defined below).

Application will be made to the London Stock Exchange for the Conversion Shares to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 27 December 2024. The Conversion Shares will, upon Admission, rank pari passu with the existing ordinary shares in the Company.

Following the Conversion becoming effective, there will be no outstanding non-voting ordinary shares.

Following Admission, the Company's total number of Ordinary Shares in issue will remain as 5,199,179,349 ordinary shares of 0.01 pence each, but will comprise 5,180,041,202 voting ordinary shares and 19,138,147 treasury shares. The aforementioned figure of 5,180,041,202 voting ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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