Capital Change Notice

CAPITAL CHANGE NOTICE Section 1: Issuer information Name of issuer Serko Limited ("Serko") NZX ticker code SKO Class of financial product Ordinary shares in Serko Limited ISIN NZSKOE0001S7 Currency NZD Section 2: Capital change details Number of issuances to which this notice relates 1 Number issued/acquired/redeemed 78,521 ordinary shares Nominal value (if any) N/A Issue/acquisition/redemption price per security N/A Nature of the payment (for example, cash or other consideration) No cash consideration was required to be paid for the restricted share units to vest. Non-cash consideration is provided in the form of services rendered and to be rendered by the holders as employees of Serko. Amount paid up (if not in full) Fully paid 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) 0.085% (to 3dp) of the ordinary shares on issue pre-vesting. 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) N/A Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here) Vesting of 78,521 restricted share units under the Serko 2018 (US) Share Incentive Plan 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. 92,738,865 ordinary shares on issue There are also 128,287 unlisted options outstanding, taking into account all forfeited options to date. There are also 590,617 unlisted restricted share units outstanding, taking into account all forfeited restricted share units to date. 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, Listing Rule 4.6 Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements) The ordinary shares issued rank pari passu with the existing ordinary shares Date of issue/acquisition/redemption 31 March 2020 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 21 388 009 Contact email address investor.relations@serko.com Date of release through MAP 1 April 2020 End CA:00351049 For:SKO Type:SECISSUE Time:2020-04-01 08:55:17