SYT5 may be involved in Ca (2+) dependent exocytosis of secretory vesicles through Ca (2+) and phospholipid binding to the C2 domain or may serve as Ca (2+) sensors in the process of vesicular trafficking and exocytosis. Regulates the Ca (2+) dependent secretion of norepinephrine in PC12 cells. Required for export from the endocytic recycling compartment to the cell surface (By similarity).