BlackRock Reports 10.0% Stake in Toast, Inc.

Executive Summary

On October 5, 2026, BlackRock, Inc. filed Amendment No. 1 to Schedule 13G regarding its holdings in Toast, Inc. (NYSE: TOST). The event date requiring this filing was September 30, 2026.

Ownership Overview

• Filer: BlackRock, Inc. (Parent Holding Company / Control Person)
• Class of Security: Class A Stock
• Aggregate Beneficial Ownership: 51,451,481 shares
• Ownership Percentage: 10.0%
• Voting Power:
  • Sole Voting Power: 48,814,217 shares
  • Shared Voting Power: 0 shares
• Dispositive Power:
  • Sole Dispositive Power: 51,451,481 shares
  • Shared Dispositive Power: 0 shares

Notable Entities & Subsidiaries

Pursuant to Exhibit 99, multiple operating subsidiaries hold underlying shares, with BlackRock Fund Advisors beneficially owning 5% or greater of the outstanding Class A common stock.

Investment Intent & Significance

This filing was submitted pursuant to Rule 13d-1(b) under the Securities Exchange Act of 1934, signifying that these securities were acquired and are held in the ordinary course of business without the purpose or effect of changing or influencing the control of Toast, Inc. Because this reflects passive institutional investment management activity and index/fund rebalancing rather than active insider positioning or activist intentions, its market trading significance is classified as Low.