Xero Limited · ASX:XRO
Xero — Shareholder Meeting (August 2021)
24 slides from Xero's shareholder meeting presentation, Aug 12, 2021
Slide 1: 2021 Annual Meeting - Presentation (Market Release)
MARKET RELEASE For personal use only 2021 Annual Meeting - Presentation WELLINGTON, 12 August 2021 - Please see the attached Annual Meeting Presentation for Xero’s 2021 Annual Meeting. Authorised for release to the ASX by the Company Secretary. Contact Toby Langley - Investor Relations Kate McLaughl
Slide 2: Xero Limited Annual Meeting 12 August 2021
Xero Limited Annual For personal use only Meeting 12 AUGUST 2021 12 AUGUST 2021
Slide 3: Important notice
Important notice For personal use only This presentation is given on 12 August 2021 on behalf of Xero Limited (Xero) (ASX:XRO) (Company number NZ 183 0488, AU ARBN 160 661 183) Information in this presentation: • is for general information purposes only, and is not an o er or • includes statements r
Slide 4: Board of Directors
Board of Directors For personal use only David Thodey, AO Steven Aldrich Mark Cross Rod Drury CHAIR OF THE BOARD INDEPENDENT NON-EXECUTIVE DIRECTOR INDEPENDENT NON-EXECUTIVE DIRECTOR XERO FOUNDER INDEPENDENT NON-EXECUTIVE DIRECTOR People and Remuneration Committee Audit and Risk Management Committee
Slide 5: Agenda
Agenda For personal use only Chair’s CEO update Resolutions Q&A address David Thodey Steve Vamos CHAIR OF THE BOARD CHIEF EXECUTIVE OFFICER 01 02 03 04 4
Slide 6: Using the online platform
Using the online platform Download the Online Guide at xero.com/about/investors For personal use only or under Downloads Voting Get a Voting Card Get a Voting Card Questions Ask a Question ? Ask a Question Help number 1 800 990 363 if you are calling from Australia +61 1800 990 363 if you are callin
Slide 7: Chair's address
For personal use only Chair’s address David Thodey CHAIR OF THE BOARD
Slide 8: CEO update
For personal use only CEO update Steve Vamos CHIEF EXECUTIVE OFFICER
Slide 9: Growing momentum through a challenging year
Growing momentum through a challenging year For personal use only Financial and operating performance highlights for the full year ended 31 March 2021 SUBSCRIBERS ARPU AMRR TOTAL LIFETIME VALUE 2.741m $29.30 $963.6m $7.6b + 456,000 YOY -2% YOY (-1% in + 17% YOY (18% in + $2.1b YOY constant currency)
Slide 10: Lower churn and increasing customer activity
Lower churn and increasing customer activity For personal use only Reduction in churn re ects a number of factors including the value of Xero to our customers in a di cult environment. Customer activity, illustrated below by employees paid and total invoice payments, shows recovery and continued mom
Slide 11: Strategic priorities
Strategic priorities For personal use only Drive cloud Grow small Build accounting business for global platform scale and innovation 10
Slide 12: Progress on acquisitions in FY21
Progress on acquisitions in FY21 For personal use only ACQUISITION Invoice lending platform leveraging Workforce management platform E-invoicing technology providing connections customers’ accounting data for employers and employees to the Peppol global e-invoicing network Completed 1 October 2020 C
Slide 13: Investing into product and partnerships
Investing into product and partnerships For personal use only Xero Analytics Plus Xero Me Xero App Store • Short-term cash ow and Refreshed the user interface of • Launched the Xero App Store business snapshot now part our Xero Me app, which as the next evolution of the of a suite called Xero Analyt
Slide 14: Outlook
Outlook For personal use only Xero will continue to focus on growing its global small business platform and maintain a preference for reinvesting cash generated, subject to investment criteria and market conditions, to drive long-term shareholder value. Total operating expenses (excluding acquisitio
Slide 15: Resolutions
For personal use only Resolutions
Slide 16: Resolution: Fixing the fees and expenses of the auditor
RESOLUTION 1 For For personal use only Fixing the fees 97,042,609 98.54% and expenses of the auditor Against That the Board is authorised to x the fees and expenses of Ernst & Young as 1,375,429 auditor for the ensuing year 1.40% Discretionary 63,769* 0.06% * 47,683 of which are held by the Chair of
Slide 17: Resolution: Re-election of Dale Murray, CBE
RESOLUTION 2 For For personal use only Re-election of 96,963,936 98.47% Dale Murray, CBE That Dale Murray, retiring from o ce Against as a director of Xero at the Meeting, and being eligible, be re-elected as a director of Xero 1,443,706 1.47% Discretionary 64,514* 0.07% * 48,428 of which are held b
Slide 18: Resolution: Election of Steven Aldrich
RESOLUTION 3 For For personal use only Election of 98,393,639 99.92% Steven Aldrich That Steven Aldrich, appointed as a Against director of Xero on 1 October 2020, who will retire at the Meeting, and being eligible, be elected as a director of Xero 13,103 0.01% Discretionary 65,281* 0.07% * 49,195 o
Slide 19: Resolution: Increase the non-executive directors' fee pool cap
RESOLUTION 4 For For personal use only Increase the 91,479,057 99.80% non-executive directors’ fee Against pool cap 117,090 That, for the purposes of ASX Listing Rule 0.13% 10.17, the maximum annual fees able to be paid to all of the non-executive directors of Xero taken together be increased by Dis
Slide 20: Resolution: Director fees
RESOLUTION 4 For personal use only Director fees Target annual fees ($) Current annual fees ($) Committee Fees Committee Fees* Country of Country of Chair Director Chair Director residence residence Chair Member Chair Member New New 450,000 190,000 38,000 19,000 358,000 145,000 38,000 19,000 Zealand
Slide 21: Resolution: Increase the non-executive directors' fee pool cap
RESOLUTION 4 For For personal use only Increase the 91,479,057 99.80% non-executive directors’ fee Against pool cap 117,090 That, for the purposes of ASX Listing Rule 0.13% 10.17, the maximum annual fees able to be paid to all of the non-executive directors of Xero taken together be increased by Dis
Slide 22: Q&A
For personal use only Q&A
Slide 23: Glossary
Glossary For personal use only Subscribers Constant currency Liquid resources Subscriber means each unique subscription to a Xero- Constant currency comparisons for revenue are based on Liquid resources comprises cash and cash equivalents, o ered product that is purchased by an accounting average ex
Slide 24: Beautiful business xero.com/investors
For personal use only Beautiful business xero.com/investors