Serko & ATPI Group sign Binding Strategic Alliance Agreemen

Serko & ATPI Group Sign Binding Strategic Alliance Agreement Auckland, New Zealand. 27th February 2018 - Serko Ltd. (SKO.NZ), a leader in online travel booking and expense management for business, today announced with ATPI Group that it has finalised a binding strategic alliance agreement, following entry into a Memorandum of Understanding announced in November. The agreement is significant to Serko's global expansion strategy and will see Zeno, Serko's premium travel and expense platform, rollout globally across the ATPI Group. Under the terms of the agreement, ATPI is licensed to offer Serko's Zeno technology to new and existing customers in more than 50 countries accross Australasia, UK, Europe, North America, Africa and Asia for the next five years. The first customer site, in the UK, is scheduled to be implemented in mid 2018. The deal between Serko and ATPI will have no material impact on revenue in the current financial year ended 31 March 2018 (FY18). Serko will receive an annual license fee as well as transactional booking fees over the five year contract period which are underpinned by minimum revenue commitments stipulated in the Agreement that increase over the 5 year period. License revenue is expected to accrue in FY19 once in-market development is completed and is paid annually at the end of the period. Serko expects to issue guidance on Serko's expected revenue for FY19 at the release of the FY18 result. Investor Relations enquiries Susan Putt Chief Financial Officer Email: investorrelations@serko.com Phone: +64 9 309 4754 End CA:00314742 For:SKO Type:GENERAL Time:2018-02-27 08:30:08