Toast : FY2022 Greenhouse Gas Inventory Limited Assurance

INDEPENDENT ASSURANCE STATEMENT

2022 GREENHOUSE GAS EMISSIONS AND ELECTRICITY CONSUMPTION

To: The Stakeholders of Toast Inc.

Apex Companies LLC (Apex) was engaged to conduct an independent limited assurance of the greenhouse gas (GHG) emissions and electricity consumption data reported by Toast Inc. (Toast) for the period stated below. This assurance statement applies to the related information included within the scope of work described below.

The determination of the GHG emissions and electricity consumption data is the sole responsibility of Toast. Toast is responsible for the preparation and fair presentation of the GHG emissions and electricity consumption statement in accordance with the criteria. Apex's sole responsibility was to provide independent assurance on the accuracy of the GHG emissions and electricity consumption data reported, and on the underlying systems and processes used to collect, analyze and review the information. Apex is responsible for expressing an opinion on the GHG emissions and electricity consumption statement based on the assurance. Assurance activities applied in a limited level of assurance are less extensive in nature, timing and extent than in a reasonable level of assurance.

Boundaries of the reporting company GHG emissions and electricity consumption data covered by the assurance:

• Operational Control
• Worldwide
• Exclusions: Co-working spaces occupied by Toast employees based on operational control Types of GHGs: CO2, N2O, CH4, HFCs
  GHG Emissions and Electricity Consumption Data Statement:

2022 DATA ASSURED

ELECTRICITY

	Total Electricity Consumption - Megawatt hours (MWh)	2,335
	100% Renewable Electricity (MWh)	2,335
	Net Scope 2 (Market-based) Emissions from Electricity (tCO2e)	0
		GHG EMISSIONS
	Scope 1	Emissions (tCO2e)	509
	Scope 2	Emissions (Location-based) (tCO2e)	918
	Scope 2	Emissions (Market-based) (tCO2e)	137
	Total Scope 1 and 2 (Market-Based) Emissions (tCO2e)	646

tCO2e = metric tonnes of CO2-equivalent

Data and information supporting the Scope 1 and Scope 2 emissions were in some cases historical in nature, but in most cases estimated.

WATER • ENVIRONMENTAL • HEALTH & SAFETY • COMPLIANCE & ASSURANCE • INFRASTRUCTURE

Apex Companies, LLC • [phone] • www.apexcos.com

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Level of Assurance and Qualifications:

• Limited
• This assurance used a materiality threshold of 5% for aggregate errors in sampled data for each of the above indicators.
• Qualification

1. The GHG Protocol Scope 2 guidance requires that all contractual instruments used in the market- based method for scope 2 accounting be sourced from the same market in which the reporting entity's electricity-consuming operations are located and to which the instrument is applied. Toast applied 70 REGOs (Renewable Energy Guarantees of Origin) to electricity consumption at their locations in Dublin, Ireland. Per REGO standards (www.ofgen.gov.uk/rego, April 2023), REGOs should be applied only to electricity generated in Great Britain and Northern Ireland, as Great Britain and Northern Ireland are no longer part of the European Union. However, Ireland's electricity grid is interconnected with that of Great Britain and Northern Ireland and it is possible that energy exchanges could happen between the countries. The difference in total scope 2 (market-based) emissions with the inclusion of the REGOs is estimated to be 15%.

This limited assurance engagement relies on a risk-based selected sample of sustainability data and the associated limitations that this entails. The reliability of the reported data is dependent on the accuracy of metering and other production measurement arrangements employed at the site level, not addressed as part of this assurance. This independent statement should not be relied upon to detect all errors, omissions or misstatements that may exist.

Global Warming Potential (GWP) and emission factor data sets:

• USEPA Emission Factor Hub, released 2022
• USEPA eGRID, released 2022
• IEA, released 2020
• Utility-specificemission factors
• IPCC GWP: AR-5

Period covered by GHG emissions and electricity consumption data assurance:

• January 1, 2022 to December 31, 2022

Criteria against which assurance was conducted:

• World Resources Institute (WRI)/World Business Council for Sustainable Development (WBCSD) Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard (Scope 1 and 2)

Reference Assurance Standard:

We performed our work in accordance with Apex's standard procedures and guidelines for external Assurance of Sustainability Reports and International Standard on Assurance Engagements (ISAE) 3000 Revised, Assurance Engagements Other than Audits or Reviews of Historical Financial Information (effective for assurance reports dated on or after Dec. 15, 2015), issued by the International Auditing and Assurance Standards Board.

GHG and Electricity Consumption Data Assurance Methodology:

• Interviews with relevant personnel of Toast and their consultant;
• Review of documentary evidence produced by Toast;
• Review of Toast data and information systems and methodology for collection, aggregation, analysis and review of information used to determine GHG emissions and electricity consumption data; and

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• Audit of sample of data used by Toast to determine GHG emissions and electricity consumption data.

Assurance Opinion:

Based on the process and procedures conducted, there is no evidence that the GHG emissions and electricity consumption statement shown above:

• is not materially correct and is not a fair representation of the GHG emissions and electricity consumption data and information; and
• has not been prepared in accordance with the WRI/WBCSD GHG Protocol Corporate Accounting and Reporting Standard (Scope 1 and 2).

It is our opinion that Toast has established appropriate systems for the collection, aggregation and analysis of quantitative data for determination of these GHG emissions and electricity consumption data for the stated period and boundaries.

Statement of independence, integrity and competence

Apex is an independent professional services company that specializes in Health, Safety, Social and Environmental management services including assurance with over 30 years history in providing these services.

No member of the assurance team has a business relationship with Toast Inc., its Directors or Managers beyond that required of this assignment. We conducted this assurance independently and to our knowledge there has been no conflict of interest.

Apex has implemented a Code of Ethics across the business to maintain high ethical standards among staff in their day-to-day business activities.

The assurance team has extensive experience in conducting assurance over environmental, social, ethical and health and safety information, systems and processes, has over 20 years combined experience in this field and an excellent understanding of Apex's standard methodology for the assurance of greenhouse gas emissions and electricity consumption data.

Attestation:

Jessica Jacobs, Lead Assuror	Mary E. Armstrong-Friberg, Technical Reviewer
ESG Senior Project Manager	ESG Program Manager
Apex Companies, LLC	Apex Companies, LLC
Cincinnati, Ohio	Cleveland, Ohio

May 9, 2024

This assurance statement, including the opinion expressed herein, is provided to Toast and is solely for the benefit of Toast in accordance with the terms of our agreement. We consent to the release of this statement by you to the public or other organizations but without accepting or assuming any responsibility or liability on our part to any other party who may have access to this statement.