Mr. Peter Dougherty reports

LIGHTSPEED TO LAUNCH NEW FLAGSHIP PLATFORM, LIGHTSPEED RESTAURANT, TO POWER AUSTRALIAN HOSPITALITY REVIVAL

Lightspeed Commerce Inc. has launched Lightspeed Restaurant in the Australian market -- a unified hospitality commerce and point-of-sale (POS) platform to power Australia's restaurant revival.

Unveiling at Fine Food Australia, and coming soon to Australian businesses, Lightspeed Restaurant, an industry-leading cloud platform, combines an innovative POS, contactless integrated payments, on-line ordering, advanced inventory, industry-leading analytics and more, enabling operators to run smarter, more efficient restaurants. The local launch of Lightspeed Restaurant integrates cutting-edge technology to build a single product that incorporates the best features of Australian-leading Kounta and the breadth and sophistication of Lightspeed's market-leading capabilities, and comes as Australia's world-famous dining industry continues to defy economic pressure.

Data from a subset of Australian restaurants, cafes and bars using Lightspeed in July found that year-over-year revenue was up 50.3 per cent in restaurants, 48.5 per cent in bars and 25.7 per cent in cafes compared with the same month in 2021. Remarkably, July was the sixth successive month of year-over-year growth.

Peter Dougherty, general manager of hospitality at Lightspeed, said: "Bringing Lightspeed Restaurant to an Australian market famed for the vibrancy of its hospitality sector is an exciting moment for Lightspeed. Restaurants have rapidly accelerated their digital transformation in recent years, and today merchants can't compromise when it comes to technology. Lightspeed Restaurant allows Australian restaurant owners to take control of seat-level ordering, multiple service environments, complex printing set-ups and more, all through a single commerce platform -- providing the solution they need to meet and exceed the needs of their customers, empower their team, and overcome the challenges of today."

Key features of Lightspeed Restaurant include:

• Advanced insights: Lightspeed Restaurant informs operators what turns customers into regulars, who their best wait staff are and why, and makes them feel like they are on the floor every day even across multiple locations.
• Comprehensive integrated inventory: Track and automate inventory without breaking the bank. Know exactly how much product was sold, how much is still on hand and how much is needed from a supplier for the next order.
• Speed and automation for the front of the house: Optimized by years of user testing, Lightspeed Restaurant is easy to use and train on, key for hiring and retaining staff, and running smoother shifts in busy environments.
• Innovative ordering and payments with Order Anywhere: Fully integrated with Lightspeed Restaurant, Order Anywhere provides contactless ordering and payments for dine-in and commission-free ordering for takeout, with the flexibility to either prepay on-line or pay at pickup, while avoiding expensive third party fees.
• Real-time data: Restaurant owners, chefs and managers receive a daily e-mail detailing everything they need to know before doors open, and a shift prep e-mail detailing reservations, VIP guests and notes for the service ahead.

Bluebonnet Barbecue, Melbourne's iconic Texas-style BBQ venue, has been using Lightspeed Restaurant in the initial launch phase. Bluebonnet's manager, Mikey Buchanan, said the platform gives the business a competitive advantage and the foundations to overcome challenges and provide better experiences for customers and employees alike.

"We've been looking for a platform like Lightspeed Restaurant for years. The access to real-time insights has given us a deeper, more accurate understanding of our business than we've ever had before. It's incredibly powerful and sophisticated, but also user-friendly, which is so important in a transient industry where staff come and go.

"Rather than using different systems for different business functions, everything is on one system, driving operational efficiencies which benefit our team and, ultimately, our customers. We're passionate about our craft and our customers, and with Lightspeed Restaurant we spend less time working on administration and non-revenue-generating tasks and more time delivering the food and experiences that bring people together."

The initial launch of Lightspeed Restaurant in Australia follows the recent launch of Lightspeed Payments, an integrated, contactless payments processor that gives hospitality and retail businesses the ability to process customer payments directly from their point-of-sale.

About Lightspeed Commerce Inc.

Powering the businesses that are the backbone of the global economy and used by merchants around the world, including Messina, Lion, Momofuku, Five Guys and Vera Wang, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Its cloud commerce solution transforms and unifies on-line and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

Founded in Montreal, Canada, in 2005, Lightspeed is dual-listed on the New York and Toronto stock exchanges. With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

We seek Safe Harbor.