Lightspeed Commerce : Financial Reporting Document

Annual Report

Fiscal Year Ended March 31, 2022

Letter from Jean Paul Chauvet

When I joined Lightspeed in 2012 as its Chief Revenue Officer, I became part of a small, but incredible team with big goals. As President, I saw the Company grow while maintaining its collaborative, pioneering spirit. And today, as the Company's Chief Executive Officer, it is an honor to guide Lightspeed on the next phase of its journey.

In my time here I have worked alongside a talented and passionate team to help transform Lightspeed from a regional provider of POS solutions to a global Commerce Platform. It has been a thrilling experience.

The Company has changed drastically over the years but what has not changed is the mission that motivates me and the thousands of employees at Lightspeed. We are here to help entrepreneurs, creators, chefs and artists build their small but meaningful businesses. Businesses that are the fabric of the communities they serve. We are here to make the complex simple, to remove the tedious tasks that tax our customers' time and energy, to provide financial support where we can and to bring the power of technology, once reserved for only very large players, to serve the small businesses that are so crucial to the vitality of our cities, towns and neighborhoods.

In our fiscal 2022 year, Lightspeed continued to advance its mission to ignite businesses everywhere. Our time was spent integrating our recent acquisitions into one, comprehensive, industry-leading offering; on expanding our payments solutions to all of our major markets; and on boosting our eCommerce and Supplier Network initiatives through the acquisitions of Ecwid and NuORDER.

As I look into the future, I have great expectations for the Company we are building. Of course, there are challenges that we must navigate. A reprehensible war is waging in parts of Europe, inflation threatens economic stability and supply chain issues still persist. There will always be challenges.

However, as crowds once again gather to shop, dine, and engage in the world around them, I believe we are in an environment where Lightspeed can truly thrive. We helped our customers survive the pandemic by accelerating their evolution to e-commerce/ omnichannel, and now we are poised to help them thrive as the world re-opens.

The last two years have tested Lightspeed and its customers in ways we could never have imagined. We have emerged stronger, larger and more capable than we have ever been. And ready to take on the future!

Jean Paul Chauvet

CEO, Lightspeed

Lightspeed Mission

Building communities through commerce.

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 customer experiences.

The cloud solution transforms and unifies physical operations, multichannel sales,

to new locations, global payments, financing and connection to supplier networks.

Lightspeed

At-a-glance1

Leading global cloud-basedomni-channel commerce platform powering SMBs in the new digital economy

Large total addressable market mainly served by legacy systems poorly equipped to support migration to cloud

Strong and consistent growth with vast majority of our revenues generated from recurring subscription and transaction-based revenues

Growing and diverse customer base driving $74.0B2 of commerce globally

Lightspeed payments now driving significant growth for retail and hospitality customers globally

Well capitalized with ~$954 million in unrestricted cash

1All dollar figures are presented in U.S. dollars and as at March 31, 2022 or for the fiscal year 2022. Please refer to the section titled "Key Performance Indicators" in our management discussion and analysis for the three months ended March 31, 2022 and 2021 and the years ended March 31, 2022 and 2021 for the definitions of GTV.

2Key Performance Indicator. Includes a $1.5 billion GTV contribution from the Ecwid eCommerce standalone product.

Lightspeed

Value and growth1

Gross Transactional Volume ("GTV")2	Revenue
$74B	~$548M
Customer Locations3		Revenue Growth
~	,	~
	147%
163 000
Countries		Recurring Subscription and
>100	~93%
		Transaction-based Revenue

1All dollar figures are presented in U.S. dollars and as at March 31, 2022, for the fiscal year 2022 or for the fiscal year 2022 compared to the fiscal year 2021. Please refer to the section titled "Key Performance Indicators" in our management discussion and analysis for the three months ended March 31, 2022 and 2021 and the years ended March 31, 2022 and 2021 for the definitions of GTV and Customer Locations.

2Key Performance Indicator. Includes a $1.5 billion GTV contribution from the Ecwid eCommerce standalone product.

3Key Performance Indicator. Excludes the approximately 160,000 Customer Locations attributable to the Ecwid eCommerce standalone product.