XERO LIMITED — Share Issue/Capital Change 2021

Jun 9, 2021

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MARKET RELEASE

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

WELLINGTON, 10 June 2021 - This notice is given by Xero Limited ( the Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company has yesterday issued 18,438 fully paid ordinary shares in the Company ( Shares ) in accordance with the announcement made by the Company on 25 August 2020 (acquisition of Waddle).

The Company advises as follows:

• the Shares have been issued without disclosure under Part 6D.2 of the Corporations Act;

• as at the date of this notice, the Company has complied with:

• the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• Section 674 of the Corporations Act; and

• As at the date of this notice there is no “excluded information” of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act.

Authorised for release to ASX by the Disclosure Committee

Contact

Toby Langley - Investor Relations Mobile: +61 450 223995 toby.langley@xero.com

Kate McLaughlin - Communications Mobile: +64 27 533 4529 kate.mclaughlin@xero.com

About Xero

Xero is a cloud-based accounting so�ware platform for small businesses with over 2.7 million subscribers globally. Through Xero, small business owners and their advisors have access to real-time financial data any time, anywhere and on any device. Xero offers an ecosystem of over 1,000 third-party apps and 300 plus connections to banks and other financial partners. In 2020 and 2021, Xero was included in the Bloomberg Gender-Equality Index and in 2020, Xero was recognised by IDC MarketScape as a leader in its worldwide SaaS and cloud-enabled small business finance and accounting applications vendor assessment.

Xero Limited (XRO) NZ Company no. 1830488 ARBN 160 661 183

Registered Address 19-23 Taranaki St Te Aro Wellington 6011 New Zealand

www.xero.com

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