Xero : appoints Brian McAndrews to its Board of Directors

MARKET RELEASE

Xero appoints Brian McAndrews to its Board of Directors

WELLINGTON, 2 February 2022 - Xero Limited (ASX: XRO) announces the appointment of Brian McAndrews as an independent non-executive director to its Board, efective 2 February 2022.

Based in Seattle, Washington, Brian is a professional director who brings extensive experience from his career as an executive and CEO driving growth and innovation for leading technology, sofware-as-a-service and cloud-based companies. His CEO experience includes leading Pandora Media, a streaming music provider in the US, and aQuantive, a digital marketing services and technology company that was acquired by Microsof.

With international digital media and technology expertise, Brian currently serves on the board of Frontdoor Inc., a platform for home services and as Presiding Director on the board of The New York Times. Brian is also Senior Advisor to a private equity firm based in San Francisco and serves on private boards and as an advisor to CEOs and senior executives, primarily in the areas of leadership, strategy and scaling businesses.

Brian holds a bachelor's degree in economics from Harvard College and an MBA from the Stanford Graduate School of Business.

Xero Chair, David Thodey comments: "We're excited to welcome Brian to the Xero Board. Brian's extensive public company and technology experience - along with his expertise in leading North American-based technology businesses to scale - will be of immense value to Xero and our Board as we continue to scale our business globally."

Commenting on his appointment, Brian McAndrews says: "It is a pleasure to join the Xero Board and I look forward to bringing my digital and technology experience to a purpose-led company that has enormous potential for growth. I like that Xero is committed to helping global small businesses and their advisors benefit from the power of cloud technology."

Brian will stand for election by shareholders at Xero's next Annual Meeting in or around August 2022.

Authorised for release to the ASX by the Chair of the Board in accordance with a resolution of the Board

Contact
Toby Langley - Investor Relations	Kate McLaughlin - Communications
Mobile: [phone]	Mobile: [phone]
[e-mail]	[e-mail]

Xero Limited (XRO)	Registered Address	www.xero.com
NZ Company no. 1830488	19-23 Taranaki St
ARBN 160 661 183	Te Aro
	Wellington 6011
	New Zealand	1

About Xero

Xerois a cloud-based accounting sofware platform for small businesses with over 3 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 ofers an ecosystem of over 1,000 third-party apps and 300 plus connections to banks and other financial partners. For three consecutive years (2020-2022), Xero has been included in the Bloomberg Gender-Equality Index. In 2021, Xero was included in the Dow Jones Sustainability Index (DJSI), powered by the S&P Global Corporate Sustainability Assessment and in 2020, Xero was recognised by IDC MarketScapeas a leader in its worldwide SaaS and cloud-enabled small business finance and accounting applications vendor assessment.

Xero Limited (XRO)	Registered Address	www.xero.com
NZ Company no. 1830488	19-23 Taranaki St
ARBN 160 661 183	Te Aro
	Wellington 6011
	New Zealand	2