Notification of Issue of Options

Section 1: Issuer information Name of issuer Serko Limited ("Serko") NZX ticker code SKO Class of financial product Options to subscribe for Ordinary Shares in Serko ("Options") ISIN NZSKOE0001S7 Currency NZD Section 2: Capital change details Number issued/acquired/redeemed 36,563 Options Nominal value (if any) N/A Issue/acquisition/redemption price per security The Options have an exercise price of NZ$3.95 per Option, being the closing market price of an Ordinary Share on the NZX Main Board on 22 July 2019. Nature of the payment (for example, cash or other consideration) N/A Amount paid up (if not in full) N/A Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence) The Company has 80,922,809 Ordinary Shares on issue. It has granted in total 323,464 Options. If 100% of the Options were to vest and be exercised on the date of this notice of allotment, it would represent approximately 0.400% (to 3dp) of the Ordinary Shares on issue. For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date) The Options have an exercise price of NZ$3.95 per Ordinary Share, expiring 30 October 2024. The Options will vest (meaning they are able to be exercised) in four tranches commencing one-year after they are granted, subject to continued employment. Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here) Grant of Options pursuant to the Serko Limited (US) 2018 Share Incentive Plan as part of the remuneration package of certain key employees residing in the United States. Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption. 323,464 unlisted Options (convertible into Ordinary Shares on a 1:1 basis) outstanding. There are also 80,922,809 Ordinary Shares on issue In the case of an acquisition of shares, whether those shares are to be held as treasury stock N/A Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made Directors' resolution Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements) The Options issued in accordance with the terms set out in the Serko Limited (US) 2018 Share Incentive Plan and Option Agreement. Other terms are detailed above. Date of issue/acquisition/redemption 30 July 2019 (Grant Date) Section 3: Authority for this announcement and contact person Name of person authorised to make this announcement Susan Putt Contact person for this announcement Susan Putt, Chief Financial Officer Contact phone number +64 9 309 4754 or +64 21 388 009 Contact email address investor.relations@serko.com Date of release through MAP 30 July 2019 End CA:00338329 For:SKO Type:SECISSUE Time:2019-07-30 14:45:07