LIGHTSPEED ANNOUNCES VOTING RESULTS FROM ITS ANNUAL SHAREHOLDERS'; MEETING

Rhea-AI Summary

Lightspeed Commerce Inc. (TSX: LSPD) (NYSE: LSPD) held its annual shareholders' meeting on August 1st, 2024, with all proposed items of business approved by shareholders. Key outcomes include:

1. All seven nominated directors were elected with over 98% approval.

2. PricewaterhouseCoopers LLP was appointed as the company's auditor with 99.84% of votes in favor.

3. The advisory, non-binding resolution on executive compensation was approved with 98.92% support.

Lightspeed, a unified POS and payments platform for entrepreneurs, saw strong shareholder support across all voting items, indicating confidence in the company's leadership and strategic direction.

Positive

• High shareholder approval rates for all proposed items, indicating strong investor confidence
• All seven nominated directors elected with over 98% approval
• Auditor appointment approved with 99.84% of votes in favor
• Advisory resolution on executive compensation approved with 98.92% support

Negative

• None.

MONTREAL, Aug. 2, 2024 /PRNewswire/ - Lightspeed Commerce Inc. ("Lightspeed" or the "Company") (TSX: LSPD) (NYSE: LSPD),  today announced the voting results for the items of business put forth by the Company at its annual shareholders meeting held on August 1^st, 2024 (the "Meeting"). Lightspeed is the unified POS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experiences and become a go-to destination in their space.

Shareholders of the Company voted in favor of all items of business put forth at the Meeting by the Company. The voting results for each item of business at the Meeting are presented below.

1. Election of Directors

The seven (7) candidates proposed as directors were duly elected directors of the Company by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting, as follows:

Name of Nominee	Votes For	%	Votes Against	%
Patrick Pichette	98,384,797	98.52 %	1,476,606	1.48 %
Dax Dasilva	99,587,255	99.73 %	274,149	0.27 %
Dale Murray	99,257,111	99.39 %	604,291	0.61 %
Manon Brouillette	99,578,533	99.72 %	282,870	0.28 %
Nathalie Gaveau	99,433,002	99.57 %	428,399	0.43 %
Paul McFeeters	99,568,816	99.71 %	292,588	0.29 %
Rob Williams	99,569,470	99.71 %	291,933	0.29 %

2.  Appointment of Auditors

A ballot was conducted with respect to the appointment of PricewaterhouseCoopers LLP ("PwC") as the Company's auditors. According to the proxies received and ballots cast, PwC was appointed the Company's auditors with the following results:

Votes For: 103,729,855 (99.84%)
Votes Withheld: 168,200 (0.16%)

3.  Advisory Vote on Executive Compensation

A ballot was conducted with respect to approving an advisory, non-binding resolution on the Company's approach to executive compensation as more fully described in the Company's management information circular. According to the proxies received and ballots cast, such advisory, non-binding resolution on the Company's approach to executive compensation was approved with the following results:

Votes For:  98,781,998 (98.92%)
Votes Against: 1,079,404 (1.08%)

Final voting results on all matters voted at the Meeting are available on Lightspeed's website and on SEDAR+ at www.sedarplus.com and EDGAR at www.sec.gov.

About Lightspeed

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. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the Company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com.
Follow us on social media: LinkedIn, Facebook, Instagram, YouTube, and X (formerly Twitter).

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profile on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Lightspeed Commerce Inc.

FAQ

What were the voting results for Lightspeed's 2024 annual shareholders' meeting?

At Lightspeed's 2024 annual meeting, all proposed items were approved. Directors were elected with over 98% approval, PwC was appointed as auditor with 99.84% support, and the executive compensation resolution passed with 98.92% of votes in favor.

How many directors were elected to Lightspeed's board in 2024?

Seven directors were elected to Lightspeed's board at the 2024 annual shareholders' meeting, all with approval ratings exceeding 98%.

What was the shareholder vote on Lightspeed's executive compensation in 2024?

Shareholders approved the advisory, non-binding resolution on Lightspeed's approach to executive compensation with 98.92% of votes in favor at the 2024 annual meeting.

Who was appointed as Lightspeed's auditor for 2024?

PricewaterhouseCoopers LLP (PwC) was appointed as Lightspeed's auditor for 2024, with 99.84% of shareholder votes in favor of the appointment.