Serko Limited — Director's Dealing 2020

May 27, 2020

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests Sections 297(2) and 298(2), Financial Markets Conduct Act 2013

To NZX Limited; and Name of listed issuer: Date this disclosure made: Date of last disclosure:

Director or senior manager giving disclosure Full name(s): Name of listed issuer: Name of related body corporate (if applicable): Position held in listed issuer:

Serko Limited (SKO) 28-May-20 18-Jul-18 Robert (Bob) Shaw Serko Limited (SKO) Chief Strategy Officer

Summary of acquisition or disposal of relevant interest (excluding specified derivatives) Class of affected quoted financial products:

Summary of acquisition or disposal of relevant interest (excluding specified derivatives)
Class of affectedquoted financialproducts:		Ordinaryshares in Serko Limited
Nature of the affected relevant interest(s):		Legal holder of unlisted options to acquire ordinary shares in the form of Restricted Share Units. Any shares granted upon vesting are subject to a deed restricting the exercise of any voting rights attached. The Restricted Share Units have no voting rights attached.
For that relevant interest-
Number held in class before acquisition or disposal:		13,671
Number held in class after acquisition or disposal:		17,301
Current registered holder(s):		N/A
Registered holder(s)once transfers are registered:		RobertShaw
		N/A
		N/A
The notional value of the derivative (if any) or the notional amount of underlying financial products(if any):		N/A
A statement as to whether the derivative is cash settled or physicallysettled:		N/A
Maturitydate of the derivative(if any):		N/A
Expirydate of the derivative(if any):		N/A
Theprice specified in the terms of the derivative(if any):		N/A
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products:		N/A
For that derivative,- Parties to the derivative: If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:		N/A
Details of transactions giving rise to acquisition or disposal
Total number of transactions to which notice relates:		1
		22-May-20 (AllotmentDate)

Nature of transaction: Name of any other party or parties to the transaction (if known): The consideration, expressed in New Zealand dollars, paid or received for the acquisition or disposal. If the consideration was not in cash and cannot be readily by converted into a cash value, describe the consideration:

Number of financial products to which the transaction related: If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the following details—

Whether relevant interests were acquired or disposed of during a closed period:

Whether prior written clearance was provided to allow the acquisition or disposal to proceed during the closed period:

Date of the prior written clearance (if any):

Grant of unlisted Restricted Share Units under Serko Long Term Incentive Scheme 2019

N/A

Services to Serko. Non-cash consideration valued at $2.66 per Restricted Share Unit. 3,630

No N/A N/A

Summary of other relevant interests after acquisition or disposal:

Class of quoted financial products:

Nature of relevant interest: For that relevant interest,- Number held in class:

Number held in class: Current registered holder(s): For a derivative relevant interest,- Type of derivative:

Ordinary shares

1. Registered holder and beneficial interest in ordinary shares 2. Beneficial interest in restricted shares held on trust until vesting 3. Registered holder and beneficial interest in ordinary shares

2. 12,884,296 ordinary shares

3. 50,024 restricted shares

4. 9,106 ordinary shares

5. Robert Shaw & Geoffrey Hosking as Trustees for Ripon Trust 2. Serko Trustee Limited on behalf of Robert Shaw 3. Robert Shaw

N/A

Details of derivative,-

The notional value of the derivative (if any) or the notional amount of underlying financial products (if any):		N/A
A statement as to whether the derivative is cash settled or physically settled:		N/A
Maturity date of the derivative (if any):		N/A
Expiry date of the derivative (if any):		N/A
The price's specified terms (if any):		N/A
Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financialproducts:		N/A
For that derivative relevant interest,-		N/A
Parties to the derivative:		N/A
If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:		N/A

Certification

I, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

Signature of director or officer: Date of signature:

May 27, 2020