Docebo Announces the Release of its Inaugural ESG Report

Docebo Inc. (NASDAQ:DCBO; TSX:DCBO) (“Docebo” or the “Company”), a leading artificial intelligence (AI)-powered learning suite provider, announced today the release of its 2021 Environmental, Social and Governance (ESG) Report, highlighting its initiatives and best practices to drive sustainable, equitable and prosperous impacts for Docebo’s various stakeholders.

"We are proud to share our inaugural ESG report, highlighting the progress we have made in our key ESG focus areas to our employees, customers and investors,” said Claudio Erba, CEO and Founder of Docebo. “The publication of our first ESG report is an important step forward. The decisions we make – about empowering our people, maintaining integrity, managing our footprint, and contributing to our communities – are each essential parts of activating Docebo’s approach to sustainability.“

Our commitment to building solutions that enable engaged, informed, and effective learners is key to how we work and approach sustainability at Docebo. To believe in learning is to believe in continuous improvement. That’s why we have committed to formalizing our sustainability efforts to include measuring and documenting our current performance, analyzing where we can improve, and holding ourselves accountable to our goals. Completing our inaugural ESG report is a step toward demonstrating our ongoing deep dedication to achieving meaningful and valuable sustainable business practices. We are proud to provide this inaugural ESG report as a new lens through which our stakeholders can learn about our business and the lasting, beneficial impacts we can create.

Docebo’s ESG report is grounded in three of our six core values, Accountability, Impact & Togetherness. It outlines key focus areas consistent within the software industry and how the Company is aligning its sustainability efforts with its continued pursuit of superior financial performance. The Company used both the Task Force on Climate-related Financial Disclosures (TCFD) and the Sustainability Accounting Standards Board (SASB) as the primary guides for the development of this report. Docebo supports the United Nations Sustainable Development Goals (SDGs) and strongly believes that its initiatives and business activities have the potential to bring meaningful progress toward their achievement.

Highlights from Docebo’s 2021 ESG report include:

• Docebo technology is being used by leading not-for-profit, charitable, and philanthropic organizations to train and educate their own internal organizations as well as their external audiences to achieve positive social outcomes. Some of these organizations include: Amnesty International; EcoVadis; Girls with Impact; and the UN Global Compact Academy
• Conducted our first formal materiality assessment to ensure our ESG strategy incorporated input from our key stakeholders
• Launched four resource groups to cultivate Diversity, Equity, and Inclusion throughout our employee team - Docebo Women’s Alliance, Docebo Pride, Docebo Green Ambassadors, and BIDOC - Black, Indigenous, Docebians of Color
• Over the past three years, we have reduced total customer downtime by 44% and improved service reliability, all while approximately doubling our total number of customers to 2,805 by the end of 2021
• A total of 80% of our offices have adopted a Green Energy Supplier Policy, and 44% of Docebo’s electricity use in 2021 was derived from renewable sources

To learn more about Docebo’s ESG report and the progress made in 2021, please view the complete report at https://www.docebo.inc/home/default.aspx

Forward-looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or, “will”, “occur” or “be achieved”, and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.

The forward-looking information in this press release may include, but is not limited to, statements regarding the Company’s business; future financial position and business strategy; the learning management industry; our growth rates and growth strategies; addressable markets for our solutions; the achievement of advances in and expansion of our platform; our business plans and strategies; our competitive position in our industry; and our ESG commitments, plans, policies, procedures and initiatives. This forward-looking information is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to:

• the Company’s ability to execute its growth strategies;
• the Company’s ability to implement and fulfill any of the ESG commitments, strategies, plans or initiatives described in this press release or the ESG report;
• the impact of changing conditions in the global corporate e-learning market;
• increasing competition in the global corporate e-learning market in which the Company operates;
• fluctuations in currency exchange rates and volatility in financial markets;
• the extent of the impact of COVID-19 on our results of operations and overall financial performance;
• changes in the attitudes, financial condition and demand of our target market;
• developments and changes in applicable laws and regulations; and
• such other factors discussed in greater detail under the “Risk Factors” section of our Annual Information Form dated March 9, 2022 (“AIF”), which is available under our profile on SEDAR at www.sedar.com.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. The opinions, estimates or assumptions referred to above and described in greater detail in the “Summary of Factors Affecting our Performance” section of our MD&A for the three months ended March 31, 2022 and in the “Risk Factors” section of our AIF, should be considered carefully by prospective investors.

Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein, and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

Additional information relating to Docebo, including our AIF, can be found on SEDAR at www.sedar.com.

About Docebo

Docebo is redefining the way enterprises leverage technology to create and manage content, deliver training, and understand the business impact of their learning experiences. With Docebo’s multi-product learning suite, enterprises around the world are equipped to tackle any learning challenge and create a true learning culture within their organization.

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