Investor Presentaiton

BOOKING.COM UPDATE . • • • • • In October 2019, Booking Holdings' made a cornerstone investment in Serko and Booking.com expanded its existing agreement with Serko enabling Booking.com to offer and promote Zeno to its business traveller customers. Booking Holdings has continued to support Serko and participated in the October 2020 capital raise. As announced in March 2021, following successful pilots undertaken during the financial year, Serko has commenced the migration of existing customers to the upgraded Booking.com for Business platform, powered by Zeno. Serko is currently seeing over 1,300* of SME business customers per day activate** on the new platform, during this phase of migration. Serko expects this rate of activation** to significantly increase as we move to the further phases of migration due to complete by end of July 2021. Although in the early stages, we are seeing companies use the new "Connected Trip" across multiple markets. We know SME business booking behaviors will be different from our enterprise customers and activations will not necessarily translate into bookings immediately, particularly during Covid affected periods. The migration is anticipated to have a material impact on Serko's revenue for the FY22 year. As we are only part way through the migration and there remains uncertainty around the rate of travel recovery, we are unable to forecast the revenue uplift with any certainty at this time.. * Weekday average for current phase of eligible customers ** Activations will not necessarily translate immediately into bookings, particularly during Covid affected periods. 15 serko

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