Xero issues unquoted securities, revises RSU total

Xero Limited confirmed on Thursday, November 27, 2025, the issue of 898,723 unquoted Restricted Stock Units (RSUs) under the ASX security code XROAK. These securities are part of transactions previously announced on June 25, 2025, and are not intended for quotation on the ASX. The RSUs were issued in connection with the Melio Ltd acquisition under employee incentive schemes, as detailed in Xero's FY25 Annual Report and an October 15, 2025 ASX release.

The total number of RSUs issued is 1,099 less than the amount initially disclosed via Appendix 2A on November 21, 2025, a change attributed to a revised number of eligible employees at the grant date. Following this issue, the total number of unquoted XROAK Restricted Stock Units on issue for Xero Limited will be 3,530,146. Additionally, the company has 1,088,242 unquoted options (XROAI) expiring on various dates at various prices, bringing the total ordinary fully paid quoted securities (XRO) to 169,765,361.

Further issues of securities are anticipated, including 165,923 ordinary shares pending closing documentation and up to approximately 2,895,514 ordinary shares upon the achievement of specified milestones over roughly three years, related to performance securities. Additionally, Shopify warrants may be exercised anytime up to March 20, 2033. The valuations for these future issues are based on a share price of $80.34, reflecting the average daily VWAP for Xero shares over a five-day trading period ending November 19, 2025.