Mr. Dax Dasilva reports

LIGHTSPEED TO OUTLINE THREE YEAR STRATEGY AT 2025 CAPITAL MARKETS DAY

Lightspeed Commerce Inc. will be hosting its Capital Markets Day on March 26, 2025, at the New York Stock Exchange, beginning at 8 a.m. EST. All dollar amounts herein are in U.S. dollars, unless otherwise stated.

Lightspeed projects for the next three years:

• Gross profit CAGR (compound annual growth rate) of approximately 20 per cent to 25 per cent and customer location CAGR of approximately 10 per cent to 15 per cent in its two growth engines -- retail in North America and hospitality in Europe;
• Consolidated gross profit CAGR of approximately 15 per cent to 18 per cent;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to grow to approximately 20 per cent of gross profit in fiscal 2028;
• Free cash flow of approximately $100-million in fiscal 2028;
• Lightspeed also completed fiscal 2025 share repurchases of over $130-million;
• Additional share repurchase of up to approximately $300-million authorized for a total of $430-million;
• Lightspeed reports in U.S. dollars and in accordance with IFRS (international financial reporting standards).

"I am incredibly excited to present Lightspeed's three-year strategy and financial outlook to investors and analysts today at the New York Stock Exchange," said Dax Dasilva, founder and chief executive officer. "Lightspeed faces the future with the strongest product offering it has ever had, a strategy focused on the markets where it has a proven right to win, adjusted EBITDA positive operations and a healthy balance sheet. We have never been bigger, better or stronger and I look to the future with great enthusiasm."

Three-year financial outlook

As discussed on its fiscal third quarter conference call, Lightspeed is executing on its renewed strategy focused on winning in its two primary growth engines: retail in North America and hospitality in Europe. In this event, management will explain why Lightspeed is doubling down on these focus areas and how it intends to accelerate growth.

As part of Capital Markets Day, the executive team will unfold details of the strategy, targeted investments in sales, marketing, and product development and cost optimization efforts across the business. This focused and disciplined approach will allow the company to accelerate customer location growth, expand subscription ARPU (average revenue per user) and drive profitable growth over the next three years.

As a result, during the period of fiscal 2026 to fiscal 2028 inclusive, within its primary growth engines, Lightspeed expects to grow gross profit at a three-year CAGR of approximately 20 per cent to approximately 25 per cent, and, for the consolidated business, Lightspeed expects to grow gross profit at a three-year total CAGR of approximately 15 per cent to approximately 18 per cent, reaching approximately $700-million in gross profit by fiscal 2028. Within its primary growth engines for the same period, net customer locations are expected to grow at a three-year CAGR of approximately 10 per cent to approximately 15 per cent. For the consolidated business, total adjusted EBITDA is expected to grow at a CAGR of approximately 35 per cent over the same period, reaching approximately 20 per cent of gross profit, and adjusted free cash flow is expected to reach approximately $100-million in fiscal 2028.

Share repurchase program

The company has completed its existing share repurchase program, authorized in April, 2024. Lightspeed has repurchased and cancelled 9,722,677 shares, representing approximately 6 per cent of total shares outstanding as at March 22, 2024, for an aggregate consideration of approximately $132-million.

Given the continuing confidence in Lightspeed's strategic plan and its strong financial position, Lightspeed's board has approved the renewal of its normal course issuer bid for the repurchase of an additional 9,013,953 shares representing approximately $95-million as part of an overall repurchase authorization for up to $400-million, including approximately $92-million repurchased since the beginning of February, 2025. The company will continue to opportunistically assess additional avenues for the return of capital to shareholders in furtherance of this authorization.

Capital Markets Day

When:  Wednesday, March 26, 2025

Time:  8 a.m. to 12 p.m. ET

Where:  NYSE

Webcast registration:  on Lightspeed's website

Replay:  To access a replay of the event, please visit the investor relations section of the company's website, where the webcast will be hosted for two years.

Renewal of normal course issuer bid

Lightspeed has authorized and the Toronto Stock Exchange has approved the renewal of its normal course issuer bid (the NCIB) to purchase for cancellation up to 9,013,953 subordinate voting shares of Lightspeed over the 12-month period commencing on April 5, 2025, and ending no later than April 4, 2026, representing approximately 10 per cent of the public float (as defined in the TSX company manual) of the subordinate voting shares issued and outstanding as at March 21, 2025. As at March 21, 2025, there were 146,399,347 subordinate voting shares issued and outstanding, of which 90,139,538 subordinate voting shares are part of the public float. The NCIB will be conducted through the facilities of the TSX and the NYSE or alternative trading systems in Canada and the United States, if eligible, and will conform to their regulations. Repurchases of subordinate voting shares may also be made pursuant to available issuer bid exemptions approved by the applicable Canadian securities commissions. Subordinate voting shares will be acquired under the NCIB at the prevailing market price at the time of acquisition, except that any purchases made under an issuer bid exemption order will be at a discount to the prevailing market price as per the terms of the order. Any subordinate voting share purchased under the NCIB will be cancelled.

Under the NCIB, other than purchases made under block purchase exemptions, Lightspeed will be allowed, subject to applicable securities laws, to purchase daily, through the facilities of the TSX, a maximum of 153,504 subordinate voting shares representing 25 per cent of the average daily trading volume of 614,018 subordinate voting shares, as calculated per the TSX rules for the six-month period ended on Feb. 28, 2025.

In connection with the NCIB, Lightspeed will also enter into an automatic share purchase plan (ASPP) on the date hereof with the designated broker responsible for the NCIB, allowing for the purchase of subordinate voting shares under the NCIB at times when Lightspeed would ordinarily not be permitted to purchase its securities due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, before entering into a blackout period, Lightspeed may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with certain purchasing parameters. Such purchases will be made by the designated broker based on such purchasing parameters, without further instructions by Lightspeed, in compliance with the rules of the TSX, applicable securities laws and the terms of the ASPP.

Lightspeed believes that the purchase of its subordinate voting shares under the NCIB is an appropriate investment by it since, in its view, market prices from time to time may not reflect the underlying value of Lightspeed's business. Furthermore, the purchases are expected to benefit all persons who continue to hold Lightspeed subordinate voting shares by increasing their equity interest in Lightspeed when such repurchased subordinate voting shares are cancelled.

Actions in connection with the NCIB will be subject to various factors, including Lightspeed's capital and liquidity positions, accounting and regulatory considerations, Lightspeed's financial and operational performance, alternative uses of capital, the trading price of Lightspeed's subordinate voting shares, and general market conditions. The NCIB does not obligate Lightspeed to acquire a specific dollar amount or number of shares and may be modified or discontinued at any time.

Under the company's existing NCIB for the 12-month period beginning on April 5, 2024, and ending no later than April 4, 2025, the company is authorized to repurchase up to 9,722,677 subordinate voting shares, or 10 per cent of the public float (as defined in the TSX company manual) of the subordinate voting shares issued and outstanding as at March 22, 2024. As at March 25, 2025, the company has repurchased 9,722,677 of its subordinate voting shares at a weighted average purchase price per subordinate voting share of $19.20 (Canadian) through the facilities of the TSX and the NYSE and alternative trading systems in Canada and the United States.

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.

Founded in Montreal, Canada, in 2005, Lightspeed is dual-listed on the NYSE and TSX. 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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