2020 Annual Meeting Addresses

Market Release
19 August 2020

2020 Annual Meeting Addresses

The attached addresses will be given at Serko’s Annual Meeting which is to
commence at 2.00pm today (19 August 2020) and is being held online at
www.virtualmeeting.co.nz/sko20

Chairman’s Address
Welcome and thank you for joining us at Serko’s Annual Meeting for 2020, our first
virtual Annual Meeting.
You may be aware that I took over as Interim Chair for Simon Botherway in March 2020.
This was to enable Simon to receive treatment for a recently diagnosed non-life-
threatening medical condition. Simon remains a director and has continued to attend
all Board and Committee meetings since this time. He is currently in managed isolation
following recent surgery overseas, which I’m pleased to say went well. At this time there
is no agreed date for Simon’s resumption of the Chair role while he recuperates but we
will keep the market updated on this. Simon, Darrin and I are in regular communication
and meet weekly to review the key matters for the business.
Impacts of Covid-19 on the FY20 Results
When we consider our FY20 results, we see that the first three quarters of the financial
year ended 31 March 2020 were characterised by monthly revenue growth and the
achievement of a number of key milestones. Darrin will provide more information
about these key milestones in his address shortly.
Serko’s performance was however materially impacted in the fourth quarter of the
financial year as the Covid-19 pandemic became widespread, significantly affecting
Serko’s travel booking volumes.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
Clear evidence of a pattern of declining bookings became apparent in mid-February
2020 and this was followed by a sharp decline in March 2020 as lockdown measures
were implemented.
At its lowest point, daily booking volumes were down in excess of 90% compared to
similar days in 2019.
The pandemic led us to first downgrade our guidance expectations in February 2020
and then to completely withdraw our guidance expectations in March 2020.
While the pandemic struck late in the financial year, it had a disproportionately
negative effect on our results. It was extremely disappointing to the Board and the
Serko team to finish a great year with results substantially below our original guidance
expectations.
Covid-19 impacted the business and the FY20 results in three main ways:
1. The first impact was due to seasonality. December and January are typically our
lowest months for travel bookings, making February and March critically
important months for revenue generation. Covid-19 hit at a critical time in our
financial year.
2. Secondly, with the massive impact of Covid-19 on the travel industry, we agreed
to a number of changes to contracts to support our reseller partners. This
included changes to contracted minimum revenues, which had the effect of
reducing the revenue we expected to record in the current year, resulting in
adverse accounting adjustments.
3. Our FY20 results were also restricted by materially slowed reseller onboarding
in North America in February and March as Covid-19 throttled back all activity
in that market.
Serko Response to Covid-19
Our immediate response to the Covid-19 pandemic was to introduce measures to look
after our people. We had a pandemic plan in place as a result of learnings from
managing the SARS epidemic which informed our response. We also gathered the

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
Board for weekly meetings to assess and monitor the situation. I was proud to see how
quickly and effectively our team transitioned to remote working, using technology to
retain productivity and interconnectedness. Serko is continuing to leverage the
learnings from this period to aid productivity, provide additional flexibility for staff and
allow us to utilise global talent.
The pandemic has had a substantial impact on the operations and economics of the
business. Accordingly, as previously announced to the market, we have reduced cash
burn and reprioritised strategic initiatives to position the business for the materially
changed operating environment.
Wherever possible we have used this shock to the business and our industry to gain
positive connection to our customers, support the learning and growth of our global
team and to focus the business on profitable long-term revenue opportunities.
We consider our market opportunity to be undiminished, despite the pandemic, and
remain confident in the recovery of corporate travel. However, we acknowledge it is
likely to take longer than we’d hoped to return to pre-Covid levels of travel.
In responding to these challenging circumstances, we have reduced the overall size of
the Serko team and reprioritised project spend. Our priority has been to retain
resource and capacity on key growth initiatives to ensure we are well positioned for
the future and can execute on some of the key opportunities we are seeing come out
of the changes to the travel industry.
The main uncertainty is of course timing, while we offer no crystal balls we do have a
clear strategy to drive long-term growth. Darrin will outline the main pillars of our
strategy and the market opportunities we are seeing in more detail shortly.
Serko continues to be well-funded following the completion of an oversubscribed
capital raise of $45 million in November 2019, supported by Booking Holdings and our
wider shareholder base. As at 31 July 2020 we had a cash balance of $36 million.
We continue our rigorous focus on cash flow. Year to date our burn has averaged $1.5
million per month, outperforming our guidance of monthly average cash burn of $2

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
million, as we started the year at $42m. We have been assisted by the Government
subsidy programmes and our internal cost rationalisations. This means we have been
preserving cash but also means we are not pursuing our expansion plans as quickly as
we would like.
The travel industry is experiencing a very challenging economic environment. As a
consequence, some industry participants have retrenched or are seeking to be
acquired. Such fundamental changes to the value channel are creating opportunities
for Serko to rollout our platform internationally sooner than we had previously
expected. The Board has agreed to a measured increase in cash-burn for the remainder
of the financial year to resource Serko to pursue these opportunities. We will remain
within our cash burn target and will not exceed our commitment to the market of a $2
million average monthly cash burn.
We are razor focussed on rebuilding the value lost when Covid-19 severely impacted
our share price. I am sure you all saw the material drop from the high of $5.80 achieved
in January this year to its low in March, around the time New Zealand entered into
lock-down. This was demoralising for the team, but we are determined to continue
the great work we have been doing and we are pleased to see the share price continue
to recover.
I’d like to take this opportunity to thank our existing and new shareholders for your
support at the time of the 2019 capital raise and for your ongoing support.
Impacts of Covid-19 on the Travel Industry
Turning to the impacts of the pandemic on the travel industry.
Worldwide Government responses to the pandemic, including lockdowns and the
suspension of all non-essential travel, continue to materially affect our booking
volumes, which generate the majority of Serko’s revenue, particularly in Australia.
Travel bookings have increased as travel restrictions were lifted in New Zealand and by
limited Australian domestic travel. In July, we had seen a return of around 30% of the
transacting volume booked in July last year. While this evidenced a steady increase in

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
transactions from the lowest point of only 9% in April, we don’t currently expect
bookings to increase meaningfully above this level until Australian businesses start
travelling domestically again. New Zealand’s latest lockdown is also resulting in
another, hopefully short-term, drop in transactions.
Slide 6 - Outlook
Turning now to Serko’s outlook, we are actively preparing for the ‘new normal’.
Despite the significant changes occurring in our industry, we do consider the business
is well positioned for growth when trading conditions improve and the travel industry
starts to recover.
There are a number of reasons for our optimism:
• We occupy a strong market position in Australasia, with the majority of our
transactions being domestic and Trans-Tasman. We have a pipeline of new
customers from our existing reseller partners that we will onboard over the
remainder of the financial year.
• We are focussed predominantly on domestic travel within North America,
where we continue to add resellers to our platform and develop localised
content. Alongside a recovery in transaction volumes, we expect our TMC
partners to start to bring back their teams and commence the onboarding of
their customers onto Zeno.
• Our ‘Booking.com for Business’ white-label is now live in the United Kingdom
and Ireland and is about to go live in Germany. It also presents an opportunity
to continue to expand use of the Zeno booking tool globally. Darrin will speak
to this opportunity in more detail shortly.
• We have a strong balance sheet and ongoing commitment to invest into
growth opportunities for Serko.
• Our team is focussed and engaged. We are proud of the work we have done
both within Serko and to support and strengthen our wider community.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
Timing of the recovery of the travel industry of course remains highly uncertain. As a
result, we continue to be unable to guide the market on our likely revenue for the 2021
financial year with any certainty.
We indicated at our full-year announcement that we anticipated our core Australasian
markets will be operating at between 40%-70% of their pre-Covid levels by March
2021. As mentioned, transactions have been relatively static at around 30% during July
and, should Australia and New Zealand’s travel remain restricted, we expect to be at
the lower end of this range. However, once travel is less restricted we could see
transactions improve to 60-70% based on the experience of New Zealand at level 1.
We continue to take a conservative approach to growth assumptions as most industry
reports indicate a slow, and largely unpredictable, return to full pre-Covid activity
levels.
While our cash supplies are finite, we have 18 months of cash based on a $2m cash
burn rate. At this stage we do not need to raise any further capital but we will continue
to monitor both our cash burn and capital requirements relative to our growth
opportunities.
Slide 7 - Board Succession Planning
As mentioned at the Annual Meeting last year, the Board has identified that the
appointment of a new director will be required over the next couple of years to support
Board renewal. We are currently considering the appointment of an additional non-
executive director, although the process has been intentionally paused while the Board
has focussed its attention on managing the impacts of Covid-19. Succession planning
will continue to be a focus for the Board over the coming year.
Acknowledgements
There is no doubt that the pandemic has tested the resilience of Serko. The response
to this by the Serko team has been both exceptional and exemplary. To pivot from a
business anticipating a strong growth trajectory to face the realities of the Covid-19
environment has not been an easy or simple transition. We have made a number of

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
very difficult decisions that have had a significant impact on our people. The
commitment and agility of the wider Serko team, the Serko executive team and the
Board has been unwavering. I commend Darrin on his leadership during this time, the
Serko executive for their dedication and the wider Serko team for their sheer
determination to thrive at this very difficult personal and professional moment in time.
I would like to not only thank Darrin and the whole Serko team for their hard work and
commitment to Serko over the past year but also acknowledge the massive personal
sacrifice of time and energy of all Serkodians over the past 6 months.
I’d also like to acknowledge the significant contribution of my fellow directors over the
past year who met for a staggering 22 additional special meetings to provide
governance and support for the 2019 capital raising process, M&A activity and to
oversee the risks presented by the Covid-19 pandemic.
The last year in Serko’s corporate history has been a true team effort.
I’ll now invite Darrin Grafton, CEO and Co-Founder, to address you.
At the conclusion of Darrin’s presentation, we will take your questions before we move
to the formal business of the meeting where you will also get the opportunity to ask
questions on the particular resolutions being considered.

CEO’s Address
Thanks Claudia.
As Claudia highlighted, the Covid-19 pandemic has had a profound impact on the
travel industry. Many commentators are predicting that corporate travel volumes are
likely to remain below pre-Covid levels until a vaccine or treatment is found. We’re
seeing consolidation and change occurring within the travel eco-system. And, while we
are seeing some existing competitive threats intensifying as industry players fight for
survival, we are also seeing opportunities for our technology to assist our reseller
partners and corporate travellers around the world.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
When Covid first hit, we shored-up our survival by reducing our cash-burn. We have
used this ‘less than ideal’ operating environment to actively look for opportunities to
optimise our business and prioritise our strategic objectives. And now we are focused
on how we can best position ourselves to thrive as conditions normalise.
Research into the impacts of the GFC has shown that companies that invested for
growth during the GFC, and effectively balanced protecting their existing business
while retooling the business for the post-GFC environment, accelerated profitability
during and after the recession. We are seeking to similarly balance expenditure and
protect our existing business with seizing opportunities to rapidly grow as conditions
improve.
We are already seeing changes in the requirements of corporate travellers and our TMC
resellers post-Covid. Factors such as duty of care, cost management and flexibility to
change travel bookings have become of increased importance.
The managed travel channel, supported by our technology, is built to assist with these
requirements, positioning us well for when travel increases.
Slide 9 – Strategic Goals
As discussed at our last Annual Meeting, we continue to target $100m in revenue. We
consider that this opportunity remains undiminished, although the pandemic is likely
to have slowed the timing of achieving that goal. We are still working on strategies to
achieve this goal in the mid-term but as industry commentators are now predicting a
potential 2-3 year recovery of travel to pre-Covid levels, this timing remains uncertain.
Our strategic goals remain unchanged despite Covid-19. These are to (1) sustain and
continue to grow our customer base, (2) continue to increase Average Revenue Per
Booking (ARPB), and (3) continue to deliver market-leading technological innovations
to underpin our platform for global expansion.
Key to the ongoing delivery of these strategic goals are:

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
• In Australasia, sustaining our current TMC resellers in our home markets,
existing booking volumes returning to normalised levels and then increasing
over time, and our ability to increase the average revenue per booking (ARPB).
• The successful execution of the Booking for Business whitelabel opportunity;
and
• Achieving a material increase in booking volumes in North America
I’ll address each of these market opportunities in turn.
Slide 10 – ANZ
We occupy a strong market position in Australia and New Zealand, with the majority
of our travel revenues coming from domestic bookings in these home markets.
Return of Booking Volumes
During the FY20 financial year we achieved year-on-year booking growth for the first
11 months, before the full impact of the pandemic was felt in March.
However, due to the pandemic our travel transactions dropped away materially. We’ve
been pleased to see the overall volume of transactions steadily increasing since May
and, as Claudia mentioned, they have been sitting at around 30% of previous monthly
volumes for the past month, prior to the revised lockdown level in New Zealand.
In large part this was due to the recovery of domestic travel within New Zealand, which
has seen some of our travel management company resellers return to around 65% of
their previous monthly volumes before the latest level 3 lockdown.
We see the resumption of travel in New Zealand as a good indicator for what we hope
to see in other countries as they manage through the various phases of the pandemic,
although subsequent lockdowns will likely continue to impact volumes for some time.
The Australian State-wide lockdowns have meant we haven’t seen the same uplift in
domestic travel within Australia yet, but we are encouraged to see the reducing
infection rates as a result of the latest strategy implemented. This suggests that the

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
Australian market could recover to similar levels as New Zealand over the remainder
of the calendar year.
We do expect to see corporates adopting a more conservative approach to travel in
the short-term but remain confident that travel will return to pre-Covid levels over
time.
Drive Booking Volume
We have worked actively with our key resellers through-out Covid to understand
corporate traveller’s needs in a post-Covid environment and are discussing new
features that will meet the emerging requirements for higher standards of duty of care,
cost management and greater flexibility to change flights going forward. However, we
also need to balance investment in platform enhancements with cash burn in this
environment of reduced activity.
We are still achieving customer growth through continuous onboarding of new
customers by our TMC resellers, such as Orbit and Flight Centre, albeit at lower volumes
of transactions due to Covid. The number of corporates booking in July increased to
over 3,900, up 700 since our Full Year announcement in June 2020 where we reported
3,200 customers for the first 3 weeks of June.
Growth in ARPB
As part of achieving our goal of reaching $100m in revenue we had a target of
achieving 5 million transactions in Australasia at $7 ARPB in the medium-term.
We made good progress during the FY20 financial year with a peak in February of
24,000 bookings in a single day, up from a peak of 21,000 in the same month in the
prior year, and ARPB increasing to $6.46 based on total recurring revenue of $24.1
million from online bookings.
Total bookings were 4.2 million for the FY20 year, including offline bookings, with 3.72
million for online bookings only.
Our overall plan for the Australasian market is to capture a greater share of the travel
wallet via three core areas:

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
• Firstly, through content, via supplier commissions such as hotel and ground
transportation commissions,
• Secondly, via additional functionality such as duty of care, compliance, complex
multi-international booking functionality, and other core market features; and
• Finally, using our express Expense offering to increase ARPB and target the
SME market.
The effects of Covid-19 means that it is likely to take longer than originally planned to
achieve our mid-term goal, we think the original opportunity remains and we are also
seeing new opportunities arise as a result of the pandemic.
We continue to see a significant transition to our premium Zeno product from Serko
Online. At the end of March 25% of transactions were occurring on the Zeno platform.
In July, approximately 35% of transactions were occurring on Zeno, an increase of 10%.
Over 50% of all transacting corporate customers transacted on Zeno during July.
We also saw an opportunity with the way expenses needed to be managed during the
period of remote working caused by of the Covid-19 lockdowns. In response, we
created a ‘lite’ expense product using a direct marketing campaign and activation of a
reseller incentive program across our travel management company partners in
Australasia. This Express offering resulted in an increased pipeline of expense
opportunities and our best months ever for new customer acquisition although these
were generally smaller SME customers.
Slide 11 – Booking For Business White label
In October 2019 we entered into an expanded agreement with Booking.com to provide
a white label of the Zeno platform to Booking as a replacement for Booking.com’s
existing Booking for Business SME offering, providing a revenue share arrangement.
This continues to offer an exciting growth opportunity for Serko notwithstanding
Covid-19.
Our teams have worked closely under challenging conditions to enable the Zeno
Booking for Business platform to go live in May, with pilot customers across the UK

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
and Ireland. We continue to have bookings completed successfully on the platform,
albeit at relatively low levels due to the widespread travel restrictions that have been
in place. We are now focused on further stages of the rollout. The next country for
rollout is scheduled to be Germany in September.
Booking.com has announced that they are restructuring their businesses, and we are
now investigating with Booking.com a faster migration plan to roll-out to additional
countries. This means that Serko is now in the planning stage to accommodate a large-
scale migration and build out the functionality and language features required for the
proposed new markets. We will inform the market of what this migration program will
look like over the coming months as the details are agreed with Booking.
This opportunity is significant and potentially gives us access to a much larger
addressable market as travel activity recovers over time.
The Booking.com initiative is being ably led by Jonathan Starkings who was appointed
to lead the Booking.com initiative. Jonathan was formerly the Managing Director of
Groupon Travel and Commercial Director for the Expedia Group.
Slide 12 – NORAM
Since March, three new travel management resellers have signed agreements to offer
Zeno in the US, bringing our total resellers to eight. We are making good progress
working through pilot programs with these resellers, although it is slower than we’d
like due to the pandemic. The focus going forward is on building a solid pipeline of
transacting customers.
Travel activity remains extremely subdued in this market, but we are pleased to have
some customers trading within the North American market today and we expect our
transacting customer numbers to increase when travel normalises. This market again
provides a significant growth opportunity over time but is unlikely to generate material
revenue over the remainder of the financial year.
We have added tailored North American content and integrations that helped us win
our largest customer to date in this market - ZS Associates.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
Development work will continue to expand the functionality around local air, rail and
hotel content as well as completing reseller integrations to support the migration of
the additional corporates on to our platform for North America.
We have also added expense resellers with OMNIA Partners and Oracle Netsuite and
are working on activating our travel management resellers to become expense referral
partners in North America as well.
SLIDE 13 – Performance Dashboard
While FY20 feels like a long time ago now and, as you’ve heard, our operating
environment has changed materially since then, I want to cover off our performance
dashboard for the last financial year for good order.
With our expansion plans and the corresponding increase in Operating Costs, Serko
declined to an overall net loss after tax of ($9.4) million. EBITDAF was a loss of ($6.1)
million, down from a profit of $2.6 million in the prior year.
Our Operating Revenue was up 11% at $25.9 million for the year, with 93%
representing recurring product revenues sources. Recurring Core Product Revenues
were up 16% to $24.1 million. Total Income, including grants, was $26.8 million, up 9%
over the prior period.
Annualised Transactional Monthly Revenue (ATMR), historically a forward-looking
indicator of recurring revenues – reached a peak during February at $27.5 million, up
6% against the prior year comparative at $26 million. However, it declined to $15
million in March 2020 and has subsequently further declined.
Despite the Covid effect, total transactions across our travel platforms grew 2% over
the last year.
R&D spend was $13.6 million for the period and was up 48% from the prior period,
which shows the increased development that is being invested in the product for new
territory expansion.
Operating costs increased 59% over the prior year to $37.1 million.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
A more detailed analysis of the financial performance is included in the Annual Report,
which can be found on our website.
Slide 14 – Our People & Capability
As a company with strong growth ambitions, we have been continuing to strengthen
our executive leadership team.
We have appointed Duanne O’Brien as Chief Technology Officer to lead the platform
modernisation and scalability initiative and he brings over 25 years’ experience,
specialising in building global enterprise SaaS platforms.
We appointed Sarah Miller, Serko’s Company Secretary to the role of General Counsel.
Sarah has worked as a consultant to Serko supporting the Executive and Board since
before our IPO. Sarah has over 20 years' experience leading in-house legal functions
for dual-listed entities, consulting to a range of companies on transactional and
governance matters, and working for major law firms in New Zealand and the UK.
We have also invested in our ability to scale new markets and new partners by
appointing Nick Whitehead to Chief Marketing Officer to lead these initiatives globally,
and in the last year we have launched an innovative sales enablement program built
around a Zeno partner program to rapidly onboard new travel management resellers
and get them to a point of sales effectiveness much more quickly.
And, as mentioned before we appointed Jonathan Starkings, an experienced
commercial leader with significant experience in online travel to head up our
partnership with Booking.com.
SLIDE 15 – SUMMARY
So to recap we are focussed on:
• Driving our Australasian business and protecting revenue while investing into
content and the features needed to enable business travellers to balance both
risk and control.

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.secretary@serko.com
Incorporated in New Zealand ARBN 611 613 980
• Successfully completing the migration of the Booking.com for Business
customers onto our Zeno platform.
• Activating North America through multiple channels.
These three core areas will see Serko lay the foundations now that will set us on the
path needed to achieve our ambitions of $100m.
Before concluding I think it is important to acknowledge the extraordinary efforts of
Serko’s Board and our people over the past year.
As Claudia mentioned, our Board has extended themselves well beyond the normal
board schedule of meetings as we navigated capital raisings, M&A activity and the
Covid pandemic so to our Board of Directors I extend my sincere thanks.
Serko’s people have demonstrated an extraordinary resilience and commitment by
adapting and continuing to deliver on the most import aspects of our strategy for ALL
our stakeholders. To my team I extend my heartfelt gratitude.
We will keep the market updated with any material changes.


Announcement authorised for release by Sarah Miller, General Counsel.