Friday, 23 February 2018

Announcement

GENERAL: XRO: Shareholder update on Xero listing

22 Jan 2018 09:34NZX
MARKET RELEASE

Shareholder update on Xero listing

WELLINGTON, 22 January 2018 - Xero Limited (ASX, NZX: XRO) is today sending
the following update to Xero shareholders who hold their Xero shares through
the NZX.

Update on Xero''s transition to a sole listing on the ASX

22 January 2018

Dear Shareholder

You are receiving this letter because you hold Xero shares on the NZX. We are
in the final stages of Xero''s transition to a sole listing on the Australian
Securities Exchange (ASX), as announced in November 2017 in conjunction with
our half-year financial result.

Xero is a New Zealand business with more than 1,000 people working and living
in New Zealand, and we will remain headquartered in Wellington. As Xero
continues to grow, having enhanced access to deeper capital markets,
increased trading liquidity and a broader base of potential investors is
critical to fulfilling the company''s aspirations. The Xero board of directors
believes a sole listing on the ASX will advance these goals.

Here is a reminder of the key dates:

Wednesday, 31 January 2018: Last day you can trade Xero shares on the NZX
Thursday, 1 February - Friday, 2 February 2018: No trading of Xero shares on
the NZX
Friday, 2 February 2018: From the close of business Xero will delist from the
NZX
Monday, 5 February 2018: First day Xero shares will trade solely on the ASX

Next steps for Shareholders

Your Xero shares on the NZX will be automatically transferred to the ASX. You
do not need to take any action to facilitate this process.

Please remember that there is no trading of Xero shares on the NZX on
Thursday, 1 February or Friday, 2 February 2018. If you hold Xero shares on
the NZX and you want to trade on those days, you will need to transfer your
shares to the ASX before the close of trade on Wednesday, 31 January 2018.
The process to do this is set out in the shareholder FAQs on our dedicated
webpage: www.xero.com/investors/listing

Following the transition to a sole ASX listing, Xero''s share registry Link
Market Services will send you:

A Holding Transaction Statement providing your new Shareholder Reference
Number (SRN) for the ASX
A Security Transaction Statement to confirm removal from the Xero NZX
register

If you want to trade Xero shares on the ASX after the transition, please
contact your broker well in advance of when you want to trade. Your broker
will require your SRN. More details are in the shareholder FAQs on our
dedicated webpage: www.xero.com/investors/listing

For those shareholders who also hold Xero shares on the ASX, nothing will
change regarding your holding. You do not need to take any action.

If you have questions please contact Link in New Zealand on +64 9 375 5998 or
in Australia on +61 1300 554 474. You can also visit our dedicated webpage:
www.xero.com/investors/listing

What''s next for Xero

At our core we are a proud New Zealand business with ambitions to grow Xero''s
global footprint as we execute on our strategy to rewire the global small
business economy, connecting millions of businesses to their banks, advisors
and each other.

We are very grateful for the support of all of our shareholders and look
forward to sharing our progress with you.

Thank you,
Rod Drury
Xero Founder & CEO

About Xero
Xero is beautiful, easy-to-use global online platform for small businesses
and their advisors. The company has over one million subscribers in more than
180 countries. Xero seamlessly integrates with more than 600 apps. It was
ranked No. 1 by Forbes as the World''s Most Innovative Growth Company for two
years running, won Technology Provider of the Year for the British Small
Business Awards, and was rated by Canstar Blue as Australia''s best accounting
software three consecutive years from 2015-2017.

Contact:
Corporate Communications
Kate McLaughlin
+64 27 533 4529
kate.mclaughlin@xero.com
End CA:00313278 For:XRO    Type:GENERAL    Time:2018-01-22 09:34:33
Views: 129
Xero Limited Ordinary Shares
 34.00 Change:
0.00
0.00%
 
Open:34.00 
High:34.00 
Low:34.00 
Volume:0 
Last Traded:02/02/18 00:19:59 
Bid:32.50 
Ask:34.70 
52-Wk High:35.50 
52-Wk Low:18.30