Lightspeed Publishes its first Sustainability Report

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07/06/2022 - 09:00 AM

MONTREAL, July 6, 2022 /PRNewswire/ - Lightspeed Commerce Inc. (TSX: LSPD) (NYSE: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences, today announced the release of its first Sustainability Report.

This report demonstrates Lightspeed's commitment to put sustainability at the heart of its business and sets out its Environmental, Social and Governance (ESG) initiatives and highlights for the fiscal year ended March 31, 2022 ("Fiscal 2022").

"From the beginning, enabling a better future in the communities where we live and work has been at the core of Lightspeed's mission," said Dax Dasilva, Executive Chair of Lightspeed's board of directors. "Our inaugural sustainability report provides a snapshot of our progress, and our ongoing commitment to advancing corporate social responsibility and diversity, equity and inclusion initiatives. It is up to all of us to drive meaningful change, and we will continue to challenge ourselves to do so."

Some highlights of Lightspeed's sustainability initiatives include:

Lightspeed created a Carbon Free Dining program in the UK, in partnership with Sustainability Run, giving its customers the ability to offset the carbon emissions associated with their diners by planting trees. This program has already resulted in the planting of over 1 million trees and Lightspeed plans to expand this program to other regions.
Lightspeed gave ~$1 million to its employees during the COVID-19 pandemic to spend in support of its merchants in addition to helping merchants navigate government subsidy programs in many countries.
Lightspeed continues to invest in education through partnerships with organizations like Summit School, Technovation Montreal and Black Girls Code, who help provide underserved communities with equal access to education and vocational training.

"Building strong, thriving communities through commerce permeates everything that we do, and more importantly, how we do it," said JP Chauvet, Chief Executive Officer of Lightspeed. "With the launch of this report, we aim not only to continue building on our strong foundation as we reimagine the way we do business responsibly, equitably and sustainably, but aspire to be a benchmark for other companies to drive the industry forward."

Additional key findings from Lightspeed's Sustainability Report include:

Based on Lightspeed's annual diversity, equity and inclusion and engagement survey, 88% of its employees feel that they can be their authentic self at work.
Our employee base includes 11% LGBTQ2S+, 12% persons with disabilities and 28% BIPOC representation¹.
With more than 2 million employee accounts registered on our platform, Lightspeed is significantly impacting how retail and restaurant workers do their jobs globally.

More information on the Company's sustainability progress can be found in the full report.

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

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.sedar.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.