Settlement notice issued for LightSpeed Securities class action proceedings

MONTREAL, Dec. 4, 2025 /PRNewswire/ -- A class action was commenced against Lightspeed Commerce Inc., several of its directors and officers, and PricewaterhouseCoopers LLP (collectively the "defendants") before the Superior Court of Québec. The plaintiffs allege that the defendants misrepresented material facts relating to Lightspeed Commerce Inc.'s financial performance in its public filings and statements.

On November 25, 2025, the Honourable Lukasz Granosik, J.S.C., approved the settlement of these proceedings without any admission of liability on the part of the defendants, who deny any and all claims of wrongdoing. This notice provides a summary of the settlement and of what Class Members must do if they wish to receive compensation under the settlement.

SUMMARY OF THE SETTLEMENT TERMS
The defendants will pay CDN $11 million, in full and final settlement of all claims made against them. Class Counsel Fees were fixed by the Court at one third (33.33%) of that amount, plus disbursements and taxes, to be paid as a first charge on the settlement amount. The settlement amount, less Class Counsel Fees and disbursements, the Administrator's expenses, and taxes, will be distributed to the Class on a pro rata basis, in accordance with the Court-approved plan of allocation. The settlement agreement and plan of allocation may be viewed at https://www.LightspeedSettlement.com.

A CLAIM FOR COMPENSATION MUST BE MADE BY MARCH 4, 2026

Each Class Member must submit a completed Claim Form on or before March 4, 2026 to receive compensation under the settlement. The Claim Form can be accessed or downloaded at https://www.LightspeedSettlement.com. or obtained by calling the Administrator at 1-888-350-7708. If you do not submit a completed Claim Form by March 4, 2026, you will not receive any part of the net settlement amount.

The Court appointed Concilia Services Inc. as the Administrator of the settlement to, among other things: (i) receive and process Claim Forms; (ii) decide eligibility for compensation; and (iii) distribute the net settlement amount to eligible Class Members. The Claim Form should be submitted to the Administrator by using the secure online claims system at https://www.LightspeedSettlement.com. You may submit a paper Claim Form only if you do not have internet access. The paper Claim Form may be sent by mail or courier to the Administrator at:

CONCILIA SERVICES INC.
1-5900 Andover Ave.
Montréal (QC) H4T 1H5
Tel: 1-888-350-7708
lightspeed@conciliainc.com

Attention: "Lightspeed Commerce Inc. Class Action Proceedings"