Notification of Issue of Securities (Options)

20 February 2019


NOTICE PURSUANT TO NZSX LISTING RULE 7.12.1


For the purposes of rule 7.12.1 of the NZX Main Board Listing Rules ("Listing Rules"), Serko Limited
("Serko") advises that the following securities have been issued:

Class of Security:

Options to subscribe for Ordinary Shares in Serko (“Options”)
ISIN: NZSKOE0001S7

Number of securities issued: 7,500 Options

Nominal value:

N/A.
Issue price: The Options have an exercise price of $3.19 per Option, being
the closing market price of an Ordinary Share on the NZX
Main Board on 18 February 2019.

Payment in Cash:

N/A.

Amount paid up: N/A.

The principal terms of the securities: The Options will vest (meaning they are able to be exercised)
in four tranches commencing two-years after they are granted,
subject to continued employment. The Options have an
exercise price of $3.19 per Option and a final exercise date of
5 years and two months from the grant date (on 19 April 2024).

Percentage total of class of securities:

The Company has 80,922,809 Ordinary Shares on issue. It
has granted in total 284,916 Options. If 100% of the Options
were to vest and be exercised on the date of this notice of
allotment, it would represent approximately 0.352% (to 3dp) of
the Ordinary Shares on issue.

Reason for issue:

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.

Specific authority for issue: Directors’ resolution

Any terms or details of the issue:

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.

Total number of securities of the class
in existence after issue:


284,916 unlisted Options (convertible into Ordinary Shares on
a 1:1 basis) outstanding.

There are also 80,922,809 Ordinary Shares on issue

Serko Limited, Saatchi Building, Unit 14D 125 The Strand, Parnell, Auckland, New Zealand
PO Box 47-638, Ponsonby, T: +64 9 309 4754, F: +64 9 377 0545, company.secreta ry@serko.com
Inco rporated in New Zealand ARBN 611 613 980

Treasury stock:

N/A

Date of issue: 19 February 2019 (grant date)





Susan Putt
Chief Financial Officer