Mr. Dax Dasilva reports

LIGHTSPEED COMMERCE VINDICATED AS FULL DISMISSAL OF U.S. SECURITIES CLASS ACTION ANNOUNCED

The United States District Court for the Eastern District of New York has dismissed in full the securities class-action lawsuit against Lightspeed Commerce Inc. and certain of its executives. The decision marks a clear and decisive victory for Lightspeed, stating that the allegations had no adequate legal basis.

The lawsuit, which stemmed from allegations largely based on a short-seller report published by Spruce Point Capital Management in September, 2021, that contained numerous inaccuracies and mischaracterizations, was found to lack merit. The court ruled that the plaintiff failed to allege any actionable claims.

"We welcome this outcome, which confirms what we've maintained all along -- Lightspeed has acted with integrity and transparency," said Dax Dasilva, founder and chief executive officer of Lightspeed. "This ruling helps us put this matter behind us and stay focused on delivering value for our stakeholders."

This announcement comes ahead of Lightspeed's capital markets day, scheduled for March 26, 2025, at the New York Stock Exchange, where Lightspeed's management team will provide a comprehensive update on the company's transformation plan, operational and financial impact, products and go-to-market efforts, and provide a long-term financial outlook.

About Lightspeed Commerce Inc.

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional omnichannel customer experiences. The company's 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.

With teams across North America, Europe and Asia-Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

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