Mr. Dax Dasilva reports

LIGHTSPEED COMMERCE ANNOUNCES STRATEGIC REORGANIZATION, CONTINUES TO OPTIMIZE FOR PROFITABLE GROWTH

Lightspeed Commerce Inc. has begun a reorganization to further optimize its operations toward executing on the company's focused profitable growth strategy. This initiative is designed to prioritize resources for strategic areas of the business, maximizing the company's long-term growth opportunity and redefining the organizational structure and operations of other areas of the business.

The reorganization will impact approximately 200 individuals, with the resulting savings being redeployed across other areas of Lightspeed's business, in line with the company's strategic objective of further driving profitable growth. Lightspeed expects that the majority of the restructuring charges will be incurred in the third quarter of fiscal 2025.

"As we discussed on our second-quarter earnings call on Nov. 7, Lightspeed is focused on growing where we have the strongest product-market fit and right to win, particularly in North American retail and EMEA [Europe, the Middle East and Africa] hospitality. We will continue to deliver exceptional services and products to all our customers, with a focus on reducing the complexity of our business and strengthening our competitive positioning," said Lightspeed founder and chief executive officer, Dax Dasilva. "Since I returned as CEO, Lightspeed has been working harder to deliver on our profitable growth strategy. Today's announcement reaffirms our commitment to building an organization that can fulfill its true potential."

The company continues to be engaged in its previously announced review of strategic alternatives. The reorganization announced today is part of Lightspeed's optimization efforts aimed at achieving profitable growth, and does not affect, or inhibit, the continuing strategic review process. There can be no assurances given, at this time, as to the outcome of this strategic review.

Lightspeed reaffirms its previously established revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) financial outlook, as set out in its press release dated Nov. 7, 2024.

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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