Toast : TOST Investor Day 2024

Toast Investor Day 2024

© 2024 Toast, Inc. All Rights Reserved.

Disclaimer

FORWARD LOOKING STATEMENT

This presentation includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the financial outlook of Toast, Inc. ("Toast", "we" or "us"), our long-term financial targets, product strategy and roadmap; market opportunity and its potential growth; investment in technology such as machine learning and artificial intelligence and expected benefit thereof; market trends, business strategy, plans and objectives of management for future operations of Toast. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this presentation that are not historical facts and statements identified by words such as "may," "will," "should," "expects," "anticipates," "intends," "plans," "could," "believes," "seeks," "estimates," "predicts," "potential," "continue," or words of similar meaning. These forward-looking statements reflect management's current expectations and assumptions about future events which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks associated with: our ability to successfully execute our business and growth strategy; our ability to attract new customers, retain revenue from existing customers and increase sales from both new and existing customers; success of our marketing and sales strategies; our ability to maintain the security and availability of our platform; the competitive environment in which we operate; the expected impact of Toast's platform, products and packaging strategy; our ability to comply with modified or new laws and regulations applying to our business; the price volatility of our common stock; expected growth rates of certain operational metrics; costs and expenses associated with being a public company; the impact of global financial, economic, political, and health events such as rising inflation, capital market disruptions, sanctions, global unrest, economic slowdowns or recessions, on our business and the restaurant industry; and other risks and uncertainties set forth under the caption "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations'' in our Annual Report on Form 10-K for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the three months ended March 31, 2024, and our subsequent SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

Any unreleased products, features or functionality referenced in this presentation are not currently available and may not be delivered on time or at all. This presentation includes results self-reported by customers; individual results may vary. Product roadmaps do not represent a commitment, obligation or promise to deliver any product, feature or functionality, and you should not rely on them to make your purchase decisions.

INDUSTRY INFORMATION

This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation.

All third-party brand names and logos appearing in this presentation are trademarks or registered trademarks of their respective holders. Any such appearance does not necessarily imply any affiliation with or endorsement of Toast.

GAAP AND NON-GAAP RESULTS

In addition to GAAP measures, this presentation includes non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not as substitutes for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures. For example, other companies may calculate similarly-titlednon-GAAP financial measures differently or may use other measures to evaluate their performance. Refer to the Appendix for a reconciliation of these non-GAAP financial measures.

*Amounts and percentages may not tie due to rounding.

© 2024 Toast, Inc. All Rights Reserved.	2

Agenda for the Day

Welcome to the Day | Michael Senno, Senior Vice President Finance

Strategy & Market Opportunity | Aman Narang, Chief Executive Officer and Co-founder Go To Market | Jonathan Vassil, Chief Revenue Officer

Product | Steve Fredette, President, Research & Development, and Co-Founder

Platform Value & Monetization | Michel Rbeiz, Senior Vice President & General Manager, FinTech Financials | Elena Gomez, Chief Financial Officer

Q&A

3

Strategy & Market Opportunity

Aman Narang

Chief Executive Officer & Co-Founder

4

Our Mission

To empower the restaurant community to delight their guests, do what they love, and thrive.

Obsessed with	Relentlessly	Mission-driven
Customer Success	Pursue Innovation	World-class Team

5

Our Origin Story

Mobile Order & Pay

Social Experiences

Waitlists

6

Initial Challenges Made Future

Opportunity Clear

Inflexible and	Lacking End-to-End	Not Built for the
Difficult to Scale	Capabilities	Needs of
		Restaurants

Lacking Data-	Poor Onboarding
and Customer
Driven Insights
Support

7

Industry Needed Vertically Integrated Strategy

Purpose-built Vertical	Localized GTM
SaaS Platform	Motion
Solve for complexities	Drive in-market
of the restaurant	momentum
industry

Integrated

Offering

Integrated products to support restaurants end- to-end

8

Vertical Strategy and Strong Execution Delivering Results

Locations		ARR ($M)
115% Increase	112K	140% Increase	$1,305

52K

$544

Q3'21

Q1'24

Q3'21

Q1'24

9

See Appendix for definitions of Location and ARR.

Vertical Strategy and Strong Execution Delivering Results

Recurring Gross Profit Streams ($M)	Adjusted EBITDA ($M)
$1,335	+$302M Increase
229% Increase

$260

$406

($42)

2021	2024	2021	2024
	Guidance1		Guidance1

1 Midpoint of 2024 guidance.

10

See Appendix for reconciliation of Non-GAAP measure(s) presented on this page, including Non-GAAP Subscription Services Gross Profit and Non-GAAP Financial Technology Solutions Gross Profit, also referred to as recurring gross profit streams throughout the presentation.