Page 1

serko Market Release 24 November 2021 Serko's unaudited financial results for the half year to 30 September 2021 and launch of its $ 85m capital raise SUMMARY FINANCIAL RESULTS 1,2,3 • • • • • Total operating revenue increased 81 % to $ 9.2 million from $ 5.1 million , while total income increased 16 % to $ 9.9 million from $ 8.5 million . Total travel booking volumes rose 157 % to 1.3 million from 0.5 million , lifted by limited lockdowns in Australia and New Zealand during the first quarter , and new Booking.com for Business transactions . Booking.com for Business migration completed , with over 300,000 business customers now on the new Zeno - powered platform . Average transactions have grown during the period and in September 2021 were generally in the range of 1,000 and 1,500 per weekday , despite ongoing COVID - 19 related restrictions in the primary markets . Average revenue per booking ( ARPB4 ) for the managed business was $ 7.38 compared to $ 8.76 during the full - year FY21 period due to a change in revenue mix . Booking.com for Business platform - related ARPB in September 2021 was just below NZ $ 20 . Net losses after tax increased by 50 % to $ 15.2 million from $ 10.1 million reflecting the planned increase in expenditure to capitalise on the significant opportunities for Serko's expansion into international markets . • EBITDA losses increased 76 % to $ 11.8 million from $ 6.7 million . • • Net cash burn averaged $ 2.9 million per month for the half year , within the $ 2 million to $ 4 million guidance range . Cash and short - term deposits on 30 September 2021 totalled $ 62.3 million , down from $ 79.9 million on 31 March 2021 . Serko ( NZX & ASX : SKO ) , a leader in travel and expense management for business , today announces financial results for the half year to 30 September 2021 showing the company investing for the global opportunities emerging as travel markets recover from COVID - 19 . It also announces the launch of a $ 85 million capital raise to continue to execute on its global growth strategy . Serko plans to raise the capital via the issuance of ordinary shares in Serko by way of a NZ $ 75 million fully underwritten placement and a NZ $ 10 million non - underwritten retail offer . The funds raised will be used to : continue to invest for growth into the unmanaged travel segment through our Booking.com for Business partnership ; accelerate the development of our global marketplace strategy , and pursue opportunities for inorganic global expansion . Further details of the capital raising are covered in the investor presentation and the associated documentation released to the NZX and ASX today . FINANCIAL RESULTS 1 All dollar amounts are New Zealand dollars ( NZ $ ) unless otherwise stated 2 Comparative numbers are for the prior comparative period ( H1 FY21 ) unless otherwise stated . 3 Non - GAAP measures used in this release are defined at the end of this release . 4 ARPB is a blended rate and includes all recurring revenue divided by online bookings . Serko Limited , Saatchi Building , Unit 14D 125 The Strand , Parnell , Auckland , New Zealand PO Box 47-638 , Ponsonby , T : +64 9 884 5916 , F : +64 9 377 0545 , investor.relations@serko.com Incorporated in New Zealand ARBN 611 613 980