#1Dave Banking for humans™ March 2022 Dave Welcome back Kira! Available balance $109 * 1234 Get a $250 Extra Cash advance Earn up to $75 Get $15 for each friend who takes an advance#2Disclaimer REGARDING FORWARD-LOOKING STATEMENTS FORWARD-LOOKING STATEMENTS This presentation of Dave Inc. ("Dave" or the "Company") includes "forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "future," "growth," "opportunity," "well-positioned," "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, projected financial information, statements regarding estimates and forecasts of other financial and performance metrics, projected costs, and projections of market opportunity. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the business of Dave a based on current expectations that are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this presentation, and on the current expectations of Dave's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: the highly competitive industries in which Dave competes; the rapid technological developments in Dave's industry necessary to continue providing Dave's members with new and innovative products and services; if a substantial number of Dave members fail to repay the cash advance they receive; Dave may not be able to scale its business quickly enough to meet Dave members' growing needs; Dave's ability to acquire new members and retain current members or sell additional functionality and services to them; Dave may never achieve or sustain profitability; the uncertain regulatory environment in which Dave operates; Dave may be subject to governmental investigations or other inquiries by state, federal and local governmental authorities; the financial services industry continues to be targeted by new laws or regulations in many jurisdictions in which we operate; extensive regulation and oversight in a variety of areas, including registration and licensing requirements under federal, state and local laws and regulations; stringent and changing laws and regulations relating to privacy and data protection; Dave's ability to remediate the material weakness in its internal controls over financial reporting; Dave's forecasted operating results and projections rely in large part upon assumptions, analyses and internal estimates developed by Dave's management; fraudulent and other illegal activity involving Dave's products and services; a data security breach could expose us to liability and protracted and costly litigation; Dave's management has limited experience in operating a public company; Dave transfers funds to members daily, which in the aggregate comprise substantial sums, and are subject to the risk of errors; Dave has guaranteed up to $50,000,000 of one of its subsidiary's obligations under a credit facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave's assets; if key banking relationships are terminated, Dave may not able to secure or successfully migrate client portfolios to a new bank partner or partners; Dave depends upon several third-party service providers for processing its transactions and providing other important services; Dave's recent rapid growth, including growth in Dave's volume of payments, may not be indicative of future growth. You are cautioned not to place undue reliance upon any forward-looking statements, including the projections, which speak only as of the date made. Dave does not undertake any commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, forward-looking statements, including any projections or analysis, should not be viewed as factual and should not be relied upon as an accurate prediction of future results. The forward-looking statements contained in this presentation are based on the Company's current expectations and beliefs concerning future developments and their potential effects on Dave. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of management's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Dave does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements. USE OF PROJECTIONS This presentation contains financial forecasts with respect to certain financial measurements of Dave, including, but not limited to Dave's projected Revenue and Adjusted EBITDA for Dave's fiscal year 2022. Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. Dave's independent registered public accounting firm did not audit, review, compile, or perform any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, it did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this presentation. These projections should not be relied upon as being necessarily indicative of future results. Dave does not undertake any commitment to update or revise the projections, whether as a result of new information, future events or otherwise. In this presentation, certain of the above-mentioned projected information has been repeated (in each case, with an indication that the information is an estimate and is subject to the qualifications presented herein), for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See "Forward-Looking Statements" paragraph above. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Dave or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. INDUSTRY AND MARKET DATA In this presentation, Dave relies on and refers to information and statistics regarding the sectors in which Dave competes and other industry data. Dave obtained this information and statistics from third-party sources, including reports by market research firms. Although Dave believes these sources are reliable, the Company has not independently verified the information and does not guarantee its accuracy and completeness. Dave has supplemented this information where necessary with information from discussions with Dave members and Dave's own internal estimates, taking into account publicly available information about other industry participants and Dave's management's best view as to information that is not publicly available. Dave 2#3Disclaimer USE OF NON-GAAP FINANCIAL MEASURES The financial information and data contained in this presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act of 1933, as amended. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any filing Dave makes with the SEC. This presentation contains references to Adjusted EBITDA, non-GAAP operating revenues, non-GAAP operating expenses, non-GAAP variable profit and non-GAAP variable profit margin of Dave, which are adjusted from results based on generally accepted accounting principles in the United States ("GAAP") and exclude certain expenses, gains and losses. The Company defines and calculates Adjusted EBITDA as net loss attributable to Dave before the impact of interest income or expense, provision for income taxes, depreciation and amortization, and adjusted to exclude legal settlement and litigation expenses, other strategic financing and transaction expenses, stock-based compensation expense, and certain other non-core items. The Company defines and calculates non-GAAP operating revenues as operating revenues, net excluding direct loan origination costs and ATM fees. The Company defines and calculates non-GAAP operating expenses as operating expenses excluding non-variable operating expenses. The Company defines non-variable operating expenses as all advertising and marketing operating expenses, compensation and benefits operating expenses, and certain operating expenses (legal, rent, technology/infrastructure, depreciation, amortization, charitable contributions, other operating expenses, one-time Member account activation costs and non-recurring Dave Banking expenses). The Company defines and calculates non-GAAP variable profit as non-GAAP operating revenues excluding non-GAAP operating expenses. The Company defines and calculates non-GAAP variable profit margin as non-GAAP variable profit as a percent of non-GAAP operating revenues. These non-GAAP financial measures are provided to enhance the user's understanding of our prospects for the future and the historical performance for the context of the investor. The Company's management team uses these non-GAAP financial measures in assessing performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods the Company uses to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Other companies may calculate non-GAAP measures differently, and therefore the non-GAAP measures of Dave included in this presentation may not be directly comparable to similarly titled measures of other companies. TRADEMARKS AND TRADE NAMES Dave owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its business. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this presentation is not intended in, and does not imply, a relationship with Dave, or an endorsement or sponsorship by or of Dave. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are not intended to indicate, in any way, that Dave will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor in these trademarks, service marks and trade names. Dave#4Agenda Dave Intro & Market Jason Wilk Product Roadmap Stan Hsing Growth & Opportunity Michael Goodbody Financial Overview Kyle Beilman 4#5Today's presenters Dave Jason Wilk Co-Founder and CEO Dave Stan Hsing VP Product blend LendingClub Kyle Beilman CFO CENTER VIEW Michael Goodbody CMO credit karma wise 5#6Dave Our Mission is to build products that level the financial playing field Jason Wilk, CEO#735 MILLION Dave Dave Vulnerable By our estimates, there are ~35 million people that are financially vulnerable, struggling with every aspect of their financial life. Those who: Jeff Hutcheson Overdraft 10-20x per year and are reliant on overpriced single pay credit solutions like overdraft. Need help building credit Need to find new work opportunities. Monica Alaniz Dave 131 MILLION Coping And there are an estimated 135mm people that are financially coping, struggling with some but not all aspects of their financial life. Those who: Overdraft several times per year, Need help building credit Need access to affordable short and long term credit Savings and investing tools Dave#8Our Founding EVERSAFE Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave Dave lave Dan Dave Dave PR (31 year old me, convincing investors that overdraft fees were bad in 2017) Capital One becomes first major bank to cancel overdraft fees Robert Besser 5th December 2021, 21:57 GMT+11 Capital One Bank (5 Years later) 8#9Dave Started as a Powerful App To Disrupt Overdraft For Americans... • Insights. Connect any bank account and Dave confidently tracks user's upcoming bills to determine what's yours to spend' • Millions of financial notifications sent to users to prevent overspending swipe up to open Dave A You Don't $74 DAVE might overdraft y that soon 9:41 9:41 Monday, June 3 hough, you've ap vance today if you need one re approved for ad for a $100 $150 O Select amount $200 9:41 • ExtraCash. Our flagship feature that helps protect users against overdraft fees • Pioneer in reinventing overdraft for Americans in 2017 as a free short term credit solution. • ~50M advances taken, saving users $1.5B¹ Source: Dave Management. ¹ Dave users have taken over 45mm of overdraft protection advances, typically avoiding -$35 overdraft fee from their legacy bank. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 2019-2020. all X ● SideHustle. First neobank to help users put money in their pockets by tapping into the gig economy Highlights focus on community-based approach • 2.9M+ job applications submitted since Sept. 2020 Seasonal Work 99 Flexible Hours Temp Jobs 19 2-4-9 € Work from Home Q Job title keyword company Part-time Work Earn extra cash Dave helps you find jobs that your day and your life Side Hustle 9#10Dave We've made a major impact already ~50,000,000 ExtraCash Transactions Delivered $1,500,000,000 in overdraft fees saved ¹ 1 Source: Dave Management. ¹ Dave users have taken over 45mm of overdraft protection advances, typically avoiding -$35 overdraft fee from their legacy bank. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 2019-2020. 10#11Dave 6.0M Total Members ~950k App/Play Store Reviews Source: Dave Management. Metrics as of December 31, 2021. Dave by the numbers $3.7bn Origination Volume 1.8M Debit cards issued 1.5M Monthly Transacting Members $169M Q4 Run-Rate Revenue 11#12Our strategy: Build a superior banking solution for anyone living paycheck to paycheck Dave RENT POWER GAS 12#13Dave wins by starting the banking relationship with free access to credit. Q ACQUIRE Solve the biggest need for our core customer base - short term credit - and acquire for lowest industry CAC for a banking customer. Dave ENGAGE Make Dave the best place to spend the credit. Grow engagement through adjacent products-rewards, savings, credit-building and investing. PARTNER Become primary banking partner for Dave members and support all aspects of their financial life 13#14Dave Grow population of multi-transacting members New user acquisition Increased engagement of large existing base Three Pillars of Growth Utilize data-driven underwriting advantage to profitably grow Extra Cash Originations and ARPU Accelerate banking adoption and spend frequency 14#15Dave What we're doing next CO Stan Hsing, VP Product#16Dave Extra Cash Credit Building Spend with Dave Side Hustle Crypto Rewards Primary Account Loans / Lines Home with Dave Investing 16#17How are we able to do this? We approach risk evaluation differently. This gives us the ability to offer more Americans access to credit at a lower cost. With over 100 million underwriting decisions over the past 5 years we have more experience evaluating short term credit than anyone else. Dave Underwriting Philosophy Data Model Management Payback Approach Dave Continuous Realtime Cashflow data from 14,000 banks ML models revised and retrained quarterly (at least) When members are paid Top FI / Lenders Once at account opening 30 day old (or older) credit bureau data Rules based revisited / revised annually (at most) At arbitrary payment due dates. 17#18Superior Banking Member Journey "Why I join" Extra Cash Dave Credit Building Spend with Dave "Why I feel like I belong" Side Hustle Primary Account "What else I need" Lending Buy a Home 18#19Doubling down on Data We're investing strategically in the evaluation of non-standard income profiles. This allows us to help Americans that other Fls (and fintech apps) turn away. 34% of Americans gig. The gig economy in America is growing 10x faster (by 33%) than the rest of the economy- Millennials and Gen-Z gig at a much higher rate than other generations. Dave® Source: www.smallbiztrends.com Uber Eats 19#20Increasing Access Our members have told us that they need more. Repay rates for members taking our largest advances gives us confidence we can do this at scale safely. Dave 9:41 Dave Extra Cash balance + advance $250 Add funds How is my total available calculated? Extra Cash account balance 0 Advance available 0 Transfer Total available $0.00 $250.00 $250.00 20#21Building your Credit with Dave We help our members improve their credit score by just doing what they already do today. Dave 9:41 Dave Join Dave Pay your way You deserve credit In general, the lower your starting score, the bigger the improvement - all just for reporting info on the rent and utility payments you're already paying. Reports to major credit bureaus = No hard credit check 21#22Using Credit to differentiate our Bank product Dave Banking is a companion product for everyone signing up for our Extra Cash product. Sending advance funds through Dave Banking gives us the opportunity win members spend and banking relationships with targeted rewards and other benefits. Dave 9:41 Dave Get up to $250 today Take an advance with no impact to your credit score. Get cash 22#23Better Credit when you bank with Dave As our banking relationship with members deepens advance amounts increase, cost of credit is lowered and repay flexibility expands. By plowing more value into our Credit offering we will increasing separation between us and our credit competitors. Dave 9:41 Dave® Goals Hawaiian vaction with... $1,200/$3000 Check in on your credit Monitor your score, get tips, and track changes. Buy a new bike $400 / $1,200 23#24Dave Targeting Rewards / Bank Relationship Cheaper Credit Network effects Building better credit ExtraCash Instant Relief New Credit Products Aimed at Wants Higher LTV Relationship with members wants/goals Strong cross attach (better credit with Dave Banking) 24#25Q+A 25#26Dave How We Grow: Data + Brand + Opportunity Here's why we win - long term Michael Goodbody, CMO#27#28Dave has leveraged extreme product market fit to grow faster than most major financial services companies since launch Dave 40M 30 20 10 0 Jan 2018 Ally Amex Source: Sensor Tower Chime Jan 2019 Dave Total Downloads - Dave vs FS Ecosystem Discover Jan 2020 Wells Fargo Jan 2021 Jan 2022 28#29Top performing consumer fintech apps have focus on acquisition message + cross sell into broader ecosystem: Dave $ Cash App credit karma Robinhood chime coinbase P2P > Trading, Crypto, Spending, Taxes Free Credit Scores > Saving, Spending, Taxes Free trading > Spending, Crypto Early paycheck > Saving, Credit Crypto trading > Spend, Borrow 29#30Top performing consumer fintech apps have focus on acquisition message + cross sell into broader ecosystem: Dave Short Term Credit > Spending, Saving, P2P, Crypto Dave $3.7BN of advances ~50M total advances ~15M total downloads We are heavily differentiated in short term credit space. 30#31Dave Dave At a fraction of the cost Source: Dave Management Customer Acquisition Costs: Leading neobank #1 Leading neobank #2 Traditional banks <$20 >$100 ~$236 >$300#32Dave Combination of advantages allow us to lead innovation for our core value prop Consumer Need 1. Higher limits 2. Speed to Access 3. Lowest Cost 4. Accessibility 5.Opportunity to Improve What consumers want: Dave Messaging Up to $250... Instant availability with Extra Cash Free to advance in 2-3 days No credit score required and no credit check Build credit through reporting payments Market Leading? Yes Yes Yes Yes Yes 32#33Dave THAT FEELING WHEN YOUR $250 ADVANCE HITS. Designed by Dave, not a bank. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. Additional terms and conditions apply, visit dave.com/legal. 33#34Dave's brand awareness among Gen Z and Millennial audience is similar to established major US banks Given focus on the "Zillennial" audience, overall brand familiarity with Dave is in the low 20s. Among the key GenZ and Millennial audience it is comparable with significantly larger financial services brands despite having spent a fraction on marketing Dave® 80 60 40 20 0 Brand familiarity - All US Households vs Gen Z + Millienial Major Digital Bank Dave Top 5 US Bank Top 10 US Bank Familiarity Genpop Source: Harris Poll Consideration: % of respondents that would consider purchasing a product/service from the brand (top 2 of 5 box) Quality: % of respondents that believe the brand provides high quality products and services (top 3 of 10 box) Top 10 US Bank Top US Fintech Familiarity Gen Z + Millienial 34#35Dave's brand quality score leads all other financial services companies including major fintechs Dave® The Dave brand resounds strongly with consumers. Dave scores higher than all other major financial services brands for quality and second only to one brand for consideration. Quality Score Dave Top 5 US Bank Major US Credit Top 10 US Bank Fintech Competitor Top 5 US Bank Top 5 US Bank Top 10 US Bank Major US Fintech Major US Fintech Major US Fintech Major US Fintech Major US Credit Top 5 US Bank Fintech Competitor Top 5 US Bank 57.2 53.0 47.7 47.7 46.4 45.8 45.1 45.0 41.8 41.4 40.6 40.6 40.4 40.3 38.4 35.2 Quality Score 65 55 45 35 25 Top 5 US Bank 65 Fintech competitor Major US Fintech Major US Fintech Top 5 US Bank 75 Source: Harris Poll Consideration: % of respondents that would consider purchasing a product/service from the brand (top 2 of 5 box) Quality: % of respondents that believe the brand provides high quality products and services (top 3 of 10 box) Top10 US Bank Consideration Score Major Bank Dave Top10 US Bank Top 5 US Bank 85 35#36From a highly motivated set of users who love the Dave experience Dave 4.8 549k reviews Dave chime 4.8 387k reviews Source: Dave Management SoFi 4.8 147k reviews $ Cash App 4.7 2.1M reviews coinbase 4.7 1.6M reviews ~50% of Dave Acquisition is organic MoneyLion 4.7 10k reviews Robinhood 4.2 3.9M reviews 36#37Dave The number of consumers living paycheck to paycheck has increased steadily since April 2021 and was 64% in January 2022 - 12 percentage points higher than April 2021 — with a 3% jump in just a month between December 2021 and January 2022 and is returning to pre-pandemic levels. 80% Dave is uniquely positioned to take share by focusing on largest point of need 40% 65.7% MAR17 2020 JAN 4 2021 52.0% JAN 11 2022 63.6% 37#38Government benefits drove record household liquidity through the pandemic which is now waning After seeing a significant boost through stimulus payments, the household savings rate in January 2022 in the US dropped to its lowest level since December 2013 Dave 35% 30 25 20 15 10 5 U.S. Recessions May 2018 Sep 2018 Jan 2019 Source: FRED U.S. Bureau of Economic Analysis May 2019 Sep 2019 Jan 2020 May 2020 Sep 2020 Jan 2021 May 2021 Sep 2021 Jan 2022 38#39After seeing a significant boost through stimulus payments, the household savings rate in January 2022 in the US dropped to its lowest level since December 2013 Dave And price inflation is outstripping wage growth, creating a cash crunch for American households 8% 6 4 2 0 Jan 2019 Apr Jul Oct Jan 2020 Apr Jul Oct Jan 2021 Source: U.S. Bureau of Labor Statistics. As of October 2021. Wage data covers private sector.CNBC Apr Jul Oct 6.2% 4.9% Consumer price index Avg hourly earnings 39#40Extra Cash demand aligns closely with household liquidity trends and high points in the year as it relates to consumer spending activity Dave Just as we enter peak demand season for our core Extra Cash product 100 80 60 40 20 и 10 гл 20 m 30 ww 40 50 40#41Dave Financial Overview Kyle Beilman, CFO#42Our Revenue Framework Acquisition Dave Members A Revenue Retention B ARPU Engagement Monetization D A B C D Acquisition Spend & CAC Retention curves ● Total Originations ● Total Card Spend Paying Subs ● Optional Fees (ExtraCash) Subscriptions ● Interchange + OON ATM ● Other ● 42#43Total Member Growth Dave 4.2M Q4 2020 +45% Growth 6.0M Q4 2021 Note: Total Members displayed on a net-basis, excluding deleted & fraudulent accounts Significant & sustained Total Member growth 1.5M+ Monthly Transacting Members as of Q4 2021 A B 4.5 Avg. Monthly Transactions per Transacting Member as of Q4 2021 (~86% YoY Growth) 43#44Member Acquisition Cost Dave $18.92 2020 Q4 '20: $25.00 $27.38 2021 Q4 '21: $28.55 Note: Reflects total marketing expense including advertising, brand investment, promotions, agency costs, etc. Customer Acquisition Costs remain attractive, despite annual increase in 2021 Modest increase in Q4 YOY Significant ability to scale as we focus on acquiring transacting members A 44#45Member Monetization Overview Dave Average Revenue per Total Members (Annual) $30 2020 $26 2021 Average Revenue per Transacting Member (Q421 Annualized) Note: Reflects quarterly Average Revenue Per Member on an annualized basis $112 Q4 2021 Macro backdrop impacted Total Member ARPU via lower overall engagement Significant upside opportunity as we evolve towards transaction oriented acquisition and engagement strategy CD 45#46Cumulative ARPU by Transacting Member Cohort: Sample Jan. 2019 vs. Jan. 2021 M1 Dave® M2 M3 M4 M8 M5 M6 M7 -Jan. 2019 Cohort -Jan. 2021 Cohort Cumulative 12 Month ARPU: +13% for Jan. 2021 vs. Jan. 2019 M9 M10 M11 Note: Transacting Member ARPU calculated as number of transacting members by cohort month multiplied by transacting member calendar month ARPU divided by original transacting member cohort size; transacting member calendar month ARPU calculated as total calendar month non-GAAP operating revenues divided by total number of transacting members in that month (i.e., number of transacting members in M1 of Jan. 2019 cohort multiplied by transacting member ARPU observed in Jan. 2019); see Glossary for Non-GAAP definitions M12 BCD We have improved the monetization of our Transacting Member cohorts over time Newer cohorts showing further upside 46#47Sustained Growth in Quarterly Origination Volumes Dave $1,007 M 2020 +40% Growth Q4 '20: $295M; +20% YOY $1,413M 2021 Note: Reflects principal amount of ExtraCash disbursements made in each period. Q4 '21: $451M; +53% YOY ExtraCash volume continues to scale as we've increased Member limits Key driver of top of funnel and engagement ARPU and LTV upside based on continued scaling 47#48Improving ExtraCash Portfolio Performance Q4 '20 Avg: 5.92% Dave® 4.34% 2020 9% Improvement 3.93% 2021 Q4 '21 Avg: 3.49% (+41% improvement YoY) Demonstrated ability to scale total volume and per unit size, while maintaining consistent portfolio performance ~2% overall loss rates Note: Credit Performance calculated as: percent of total credit receivables created in a particular calendar month collected through the 28th day of the subsequent calendar month; chart reflects average of monthly results 48#49Average Revenue per ExtraCash Origination Dave 2020 +17% Growth 2021 Q4 '21: +15% YOY Meaningful increase in per-unit monetization year-over-year Optional fee stream engagement is consistent and predictable D 49#50Dave Banking Spend Volumes Take-Rate % Dave® $43M 2020 1.8% Q4 '20: $27M $610M 2021 1.9% Q4 '21: $173M (+548% YoY) Note: Spending Volume reflects Dave Banking Member debit spending volumes; Take Rate calculated as transaction revenue (excl. ATM fee contra revenue) as a percentage of Spending Volume. Dave Banking Engagement grew significantly in 2021 Focus on integration ExtraCash and Spend key growth focus moving forward CD 50#51Our Model has Powerful Unit Economics Da Cohort Return Profile (Dec '18 Cohort - 3 yr Return) December 2018 Acquisition Spend Cumulative Non-GAAP Variable Profit ~7.5X Return ($0.7M) Dec-18 $4.9M Dec-21 ABCD Our marketing engine and unit economics drive strong returns Currently managing to 12-18 month payback Growth model orientation towards Transacting Members expected to increase ARPU & new cohort returns Note: Cohort Non-GAAP Variable Profit calculated as monthly cohort total non-GAAP Operating Revenues multiplied by calendar month non-GAAP Variable Profit margin; see Glossary for non-GAAP definitions 51#52Total Revenue Dave $125M $1M $124M 2020 ■ Service Based Revenue +26% Growth Q4 '20: $36.5M $158M $12M $146M 2021 Transaction Based Revenue Q4 '21: $42.2M Note: Service Based Revenue includes GAAP Service Based Revenue adjusted for related Contra Revenue Items; Transaction Based Revenue includes GAAP Transaction Based Revenue adjusted for related Contra Revenue Items Delivered significant growth despite macro backdrop Capital constraints limited ability to invest in 2H 52#53Variable Profit Margin Overview Dave 59% 2020 Q4 '20: 48% 53% 2021 Q4 '21: 48% Strong fundamental profitability Margin efficiencies realized as banking business scales Long-term upside via tech in-sourcing 53#54We have the growth capital to execute... Dave SPAC Capital Infusion FTX Capital Infusion Total Available Growth Capital +$200M +$100M ~$300M+ Prior to completion of business combination, just $61 million of primary equity capital raised since inception 54#55Fiscal Year 2022 Guidance Non-GAAP Operating Revenues: Non-GAAP Variable Profit Margin: Dave Note: see Glossary for non-GAAP definitions Low $200M 44% High $230M 48% 55#56Appendix 56#57Consolidated Statement of Operations Dave $ millions Operating revenues: Service based revenue, net Transaction based revenue, net Total operating revenues, net Operating expenses: Provision for unrecoverable advances Processing and servicing fees Advertising and marketing Compensation and benefits. Other operating expenses Total operating expenses Other (income) expenses: Interest expense (income), net Legal settlement and litigation expenses Other strategic financing and transactional expenses Changes in fair value of derivative asset on loans to stockholders Changes in fair value of warrant liability Total other (income) expense, net Net loss before provision for income taxes Provision for income taxes Net loss Net loss per share: Basic Diluted Weighted-average shares used to compute net loss per share Basic Diluted Three Months Ended December 31, 2021 2020 (Unaudited) (Unaudited) $ 38.1 $ 35.0 3.1 0.5 41.2 10.5 6.5 12.6 14.9 11.3 55.8 1.3 0.7 SE (1.7) 0.2 0.5 (15.1) 0.1 ($15.2) ($0.15) ($0.15) 35.5 11.2 6.0 15.4 7.3 5.7 45.6 (0.1) 3.5 0.1 3.5 (13.6) 21.0 ($34.6) ($0.36) ($0.36) 102,804,665 97,070,436 102,804,665 97,070,436 Twelve Months Ended December 31, 2021 (Unaudited) $ 142.2 $ 120.6 10.8 1.2 153.0 32.2 23.5 51.5 49.5 43.2 199.9 2.2 1.7 0.3 (34.8) 3.6 (27.0) (19.9) 0.1 ($20.0) ($0.20) 2020 ($0.20) 121.8 25.5 21.6 38.0 22.2 15.9 123.2 (0.5) 4.5 1.4 5.4 (6.8) 0.2 ($7.0) ($0.08) ($0.08) 100,839,231 90,986,048 100,839,231 90,986,048 57#58Liquidity and Capital Resources $ millions Cash and cash equivalents Marketable securities Working capital Total stockholders deficit Cash (used in) provided by: Operating activities Investing activities Financing activities Net increase (decrease) in cash, cash equivalents and restricted cash Dave December 31, 2021 (Unaudited) $ 32.0 $ 8.2 31.6 (33.4) 2021 (Unaudited) Twelve Months Ended December 31, ($40.7) 3.0 65.0 2020 $27.3 4.8 17.7 45.2 (22.3) 2020 ($9.1) 3.4 4.2 ($1.5) 58#59Reconciliation of Net Loss to Adjusted EBITDA $ millions Net loss Interest expense (income), net Provision for income taxes Depreciation and amortization Stock-based compensation Legal settlement and litigation expenses Other strategic financing and transactional expenses Changes in fair value of derivative asset on loans to stockholders Changes in fair value of warrant liability Adjusted EBITDA Dave Three Months Ended December 31, 2021 ($15.2) 1.3 0.1 1.0 1.0 0.7 (1.7) 0.2 ($12.6) 2020 ($34.6) (0.1) 21.0 0.4 0.6 3.5 0.1 ($9.1) Twelve Months Ended December 31, 2021 ($20.0) 2.2 0.1 3.0 7.4 1.7 0.3 (34.8) 3.6 ($36.5) 2020 ($7.0) (0.5) 0.2 1.8 1.5 4.5 1.4 $1.9 59#60Reconciliations Dave RECONCILIATION OF TOTAL OPERATING REVENUES, NET TO NON-GAAP OPERATING REVENUES $ millions Three Months Ended Operating revenues, net ExtraCash origination and ATM-related fees Non-GAAP operating revenues Operating expenses Non-variable operating expenses Non-GAAP operating expenses CALCULATION OF NON-GAAP VARIABLE PROFIT $ Non-GAAP operating revenues Non-GAAP operating expenses Non-GAAP variable profit Non-GAAP variable profit margin December 31, 2020 2021 41.2 S 1.0 $ 42.2 $ RECONCILIATION OF TOTAL OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES Three Months Ended 2021 $ 55.8 $ (33.8) $ $ 22.0 $ December 31, 2020 2021 35.5 42.2 $ (22.0) 20.2 $ 1.0 36.5 Three Months Ended December 31, 2020 48% 45.6 (26.8) 18.8 36.5 (18.8) 17.7 48% Twelve Months Ended December 31, 2021 $ 153.0 $ 4.6 $ 157.6 $ 2021 $199.9 $ (126.4) Twelve Months Ended December 31, 2020 $ 73.5 $ 2021 $ 157.6 $ (73.5) 2020 121.8 3.6 84.1 $ 125.4 53% Twelve Months Ended December 31, 2020 123.2 (72.1) 51.1 125.4 (51.1) 74.3 59% 60#61Equity Capitalization Detail Diluted Shares Outstanding Using TSM Assuming $10 / Share 323,549,861 Category Class A Common Shares Class V Common Shares Basic Shares Outstanding Outstanding Options 2 Performance Vesting Options Public Warrants 3 Private Warrants Dave® 3 Diluted Shares Outstanding Shares Underlying 323,549,861 48,450,639 372,000,500 21,601,055 11,456,061 6,344,150 5,100,214 372,000,500 48,450,639 Convertible 1:1 to class A common stock; 10 votes per share Notes Basic shares Number of underlying shares converted using Treasury Stock Method at $10 per 20,257,613 share; weighted-average exercise price of $0.62. Options generally vest over 4- year period. Includes vested and nonvested shares outstanding. 402,884,397 Options that vest based on performance milestones with weighted-average vesting 10,626,284 price of $18.15. Number of underlying shares converted using Treasury Stock Method at $10 per share; weighted-average exercise price of $0.72. Note: Weighted-average exercise prices rounded to the nearest cent 1 Weighted-average exercise price of $0.62 2 Weighted-average exercise price of $0.72 3 Exercise price of $11.50 Exercise price of $11.50 per share. Redeemable for $0.01 per warrant if closing price of Dave common stock equals or exceeds $18.00 for any 20 trading days within a 30-trading day period. Exercise price of $11.50 per share. Not redeemable for cash so long as Warrants are held by the initial purchasers or their permitted transferees. 61#62Glossary Non-GAAP Operating Revenues defined as Operating Revenues, net excluding direct loan origination costs and ATM fees Non-GAAP Variable Profit defined as Non-GAAP Operating Revenues excluding Non-GAAP Operating Expenses Non-GAAP Operating Expenses defined as Operating Expenses excluding Non-Variable Operating Expenses Non-Variable operating expenses defined as all advertising and marketing operating expenses, compensation and benefits operating expenses, and certain operating expenses (legal, rent, technology/infrastructure, depreciation, amortization, charitable contributions, other operating expenses, one-time Member account activation costs and non-recurring Dave Banking expenses) Dave 62