Update regarding Senior Manager Duncan Ritchie

Wellington, New Zealand 29 May, 2017 Update regarding Senior Manager Duncan Ritchie Under NZX Listing Rule 10.6.1(d), Xero Limited (NZX:XRO; ASX:XRO) advises that its Chief Product and Platform Officer, Duncan Ritchie, is handing his role responsibilities as head of Xero's small business products to Tony Stewart. After 6 years at Xero, Mr Ritchie will be taking an extended period of leave, and is no longer a Senior Manager. He will review potential role options within Xero later this year. Contact: Chaman Sidhu General Counsel & Company Secretary Email chaman.sidhu@xero.com Phone +61 412 759 317 Media inquiries: Alex Mercer Head of Global Communications, Xero Email alex.mercer@xero.com Phone NZ +64 21 502 112 I US +1 206 397 6505 End CA:00301843 For:XRO Type:ADMIN Time:2017-05-29 09:26:12