#1Dave August 2023 Dave Dave Welcome, Kira! debit Available balance $168.44 **** **** **** 1104 ExtraCash advances You're approved for $500! Set up direct deposit et your paycheck up to days early. n cash back eck out Dave Rewards and get cash back when you shop. Try a Side Hustle (2)#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, financial guidance for fiscal year 2023, statements regarding future growth, market share gains, plans to achieve Adjusted EBITDA profitability in 2024, and Dave's other expectations regarding its future plans and financial performance. Such forward-looking statements with respect to future financial performance, strategies, prospects and other aspects of the business of Dave are 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, 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 d other illegal activity involving Dave's produc services; a data security breach could expose to liability and costly litigation; Dave's ability maintain the listing Class: common stock on Nasdaq; ve'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 $25,000,000 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; and other risks and uncertainties set forth in Dave's Annual Report on Form 10-K filed with the SEC and subsequent filings with the SEC. 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 Non-GAAP Revenue, Non-GAAP Variable Margin, and Non-GAAP Adjusted EBITDA for Dave's fiscal year 2023. 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 sunaudited 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 variable 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, ATM costs, and interchange 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 Card 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 may be helpful to the user in assessing our operating performance and facilitates an alternative comparison amongst fiscal periods. 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 3#4OUR STRATEGY Build a superior banking solution for everyday Americans. Dave 4#5The majority of Americans are struggling with their finances TAM 176MM Customers • Spending Income • Minimal to moderate savings • Overdraft up to 20x per year • Need access to affordable credit Includes both young and financially challenged Americans Dave TAM Grew 6% (10MM Customers) in 2022¹ Inflation outstripping wage growth is causing more Americans to live paycheck to paycheck...³ ...and further eroding consumer saving balances: U.S. savings rate is far below pre-pandemic levels² Note: TAM = total addressable market. (1) Financial Health Network's "Financial Health Pulse 2022 U.S. Trends Report"; 176 million represents (2) Source: U.S. Bureau of Economic Analysis (3) Source: PYMNTS.com New Reality Check: The Paycheck-To-Paycheck Report, May 2023; values represent simple annual averages 57% 2021 9% % of Consumers Living Paycheck-to-Paycheck Feb. '20 62% 2022 e total number of financially vulnerable or financially coping consumers in that study. The corresponding figure in 2021 was 166 million. 4% Apr. ¹23 Personal Savings Rate LO 5#6Legacy banks fail to support everyday consumers $300 - $400 Average fees paid per year by financially struggling Americans to legacy banks² Overdraft Fee¹ Annual bank account fees Minimum balance to avoid account fees Dave CHASE $34 $144 $1,500 WELLS FARGO $35 $120 $500 citi $34 $120 $1,500 BANK OF AMERICA $10 $144 $1,500 DaveⓇ Optional Fees $0 (1) Chase: Overdraft fee charged for overdrafts of $50 or more; bank account fees waived with monthly direct deposits of $500 or more or daily balance of $1,500 or daily balance of $5,000 across Chase accounts. WF: Overdraft fee charged for overdrafts of $5 or more; account fees waived only with monthly direct deposits of $500 or daily beginning balance of $500 or a 17-24 year old primary account holder Citi: Bank account fees waived only with 1 direct deposit or qualifying bill payment per statement pd. or total avg. daily balance of $1,500. BofA: Overdraft fee charged for overdrafts over $10; bank account fees waived with one of the following: one qualifying direct deposit of at least $250, minimum daily balance of $1,500, or qualify for Preferred Rewards Gold +. (2) Consumer Financial Protection Bureau: www.consumerfinance.gov/about-us/blog/overdraft-fees-can-price-people-out-of-banking/#-text-While%20a%20number,doesn%E2%80%99t%20have%20any.%E2%80%9D $0 Using tech to deliver superior products with a fraction of the overhead 6#7Differentiated business strategy Achieve highly-efficient CAC by addressing members' most crucial need-Liquidity-and then deepening into long-term banking relationships Acquire • Acquire efficiently by marketing top of mind liquidity pain points • Grow prudently to facilitate break-even Dave Engage • ExtraCash provides short-term advances to members in lieu of expensive overdraft fees • Enabled by continuous Al-driven underwriting • Capital light product due to short duration • Automated settlement Deepen . Dave Card offers members a full service, no mandatory fee banking solution built on a light-weight, modern tech stack. • Creates longer-term payments relationship with instant spending and early paycheck access 7#8Dave's ExtraCash product overview ExtraCash Attribute Advance Size Term Underwriting How Dave Makes Money $25 - $500 Average:~$156 Typically: 1-2 weeks Cash flow: based per linked bank account data ACH delivery: Free Instant Transfer Fees (Optional) Tips (Optional) Average Revenue per ExtraCash Advance:~$9 Benefits to Member • Bridges gaps between paychecks for essential expenses, e.g. rent, gas, groceries • Aligns with paycycle to smooth liquidity gaps between paychecks • Instant decisioning • No credit score or relationship requirements • Fee-free option (via ACH in 1-3 days) provides flexibility in price / experience • Instant access to funds . Consumer friendly . More affordable than overdraft fees & other short-term credit; no late fees Benefits to Dave • Efficient CAC by quickly addressing member pain point • Strategic entry point into banking relationship • Capital / balance sheet light Short duration rapid underwriting optimization • Real-time data allows us to be highly responsive to changes in credit profiles (vs. lagged FICO) Optionality bolsters CAC efficiency • Tips and instant transfer fees provide predictable monetization and favorable unit economics 9:41 Dave Extra Cash balance + advance $250 Add funds all How is my total available calculated? Extra Cash account balance 0 Advance available O Total available Transfer * $0.00 $250.00 8 $250.00#9Dave Card product overview Dave Card Attribute Spending Funding Payments Saving How Dave Makes Money Dave Dave Debit Card ExtraCash Paycheck Check Deposits ATM Withdrawals Instant Withdrawal Goals Account Interchange, incentives, deposit referral fees¹, IW fees, ATM fees Benefits to Member • Members automatically receive Dave Card bank account • ExtraCash instantly available • 2 day early access to paychecks • Remote check deposit capture • Fee-free ATM transactions at network of 40K terminals • Instant withdrawal capabilities • 4% APY on DDA & Goals accounts . Allows members to set aside money towards milestones • Round-up feature boosts savings No minimum balances No account maintenance fees . No overdraft fees 'Refers to fee income which is paid to us by our bank sponsor, Evolve Bank & Trust, based on Dave Member deposits. Benefits to Dave • Builds deeper payment relationship with members • Better member retention • Incentivizes cross-attach: ExtraCash and Dave Card • Fee income on Out of Network ATM transactions • Instant withdrawal ("IW") fees • Supports constructive habits with members' finances • Primarily merchant & vendor driven revenue streams . Consistent revenue stream • Zero CAC cross sell Dave debit 9#10Dave Highlights 10#112Q23 Highlights Quarterly Non-GAAP $47M 2Q22 Dave Revenue 33% Y-O-Y Growth $62M 2Q23 28 Day Delinquency Rate 3.67% 2Q22 84bps Y-O-Y Reduction 2.83% 2Q23 Quarterly Non-GAAP Variable Margin 39% 1,400bps Y-O-Y Improvement 2Q22 Note: See Glossary for the definition of Non-GAAP Revenue, 28 Day Delinquency Rate, Customer Acquisition Cost, and Adjusted EBITDA. 53% 2Q23 ($29M) 2Q22 Adjusted EBITDA 54% Y-O-Y Improvement ($13M) 2Q23 11#12Fiscal year 2023 guidance Non-GAAP Revenue: Y-O-Y Growth: Non-GAAP Variable Margin: Y-O-Y Improvement: Adjusted EBITDA: Y-O-Y Improvement: Dave Prior $235M - $260M 11% - 23% 43% -47% 200bps - 600bps ($50M) - ($35M) 43% - 60% New 'The Adjusted EBITDA (Loss) guidance range includes the impact of a $4 million legal settlement related to a 2020 data breach that was expensed in Q2 2023. Note: See Glossary for the definition of Non-GAAP Revenue and Non-GAAP Variable Profit. Non-GAAP Variable Margin is calculated as Non-GAAP Variable Profit divided by Non-GAAP Revenue. Unchanged 47% -51% 600bps - 1,000bps Unchanged¹ 12#13Dave Business Strategy 13#14Business strategy Acquire • Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage • ExtraCash provides short-term advances to members in lieu of expensive overdraft fees • Enabled by continuous Al-driven underwriting • Capital light product due to short duration • Automated settlement Deepen • Dave Card offers members a full service, no mandatory fee banking solution built on a light-weight, modern tech stack. • Creates longer-term payments relationship with instant spending and early paycheck access 14#15Strong growth while improving CAC Product enhancements and channel optimization supported the Company's highly efficient CAC. CAC improved 31% Y-o-Y: we acquired 5% more Members for 28% less marketing spend. Excluding $1.4mm of spend related to brand refresh and TV/radio creative assets which began airing in 3Q23, CAC improved 38%. Excluding $1.4mm of marketing spend outlined above, CAC in 2Q23 would have been $18 or 15% higher than 1Q23 as we ramped acquisition by 26%. We expect marketing spend in 2H23 to remain at comparable levels to 1H23, albeit modestly front-end loaded. We sequence marketing spend to capitalize on favorable seasonal trends in order to optimize returns on investment. Dave Customer Acquisition Cost CAC and New Member Acquisition (000s) $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 $0 703 $30 2Q22 998 $24 715 Note: See Glossary for the definition of Customer Acquisition Costs $17 5% Y-o-Y Growth 4Q22 3Q22 New Member Acquisition (000) 587 $16 1Q23 739 (31%) Y-o-Y Improvement ◇ CAC $20 2Q23 1,200 1,000 800 600 400 200 O 15 New Member Acquisition (000s)#16Significant member scale We differentiate by first addressing Members' most crucial need-liquidity-and then building long-term banking relationships. Product market fit, strong brand, and low-cost acquisition have enabled Dave to achieve consistent member growth at scale. Sizeable addressable market of 176 million¹ U.S. consumers, which grew 6% YoY in 2022, provides a secular tailwind. Dave Total Members (MMS) 6.9 2Q22 33% Year-Over-Year Growth 7.8 3Q22 8.3 4Q22 8.7 1Q23 9.2 2Q23 Note: See Glossary for the definition of Total Members ¹Source: Financial Health Network's "Financial Health Pulse 2022 U.S. Trends Report"; 176 million represents the total number of financially vulnerable and financially coping consumers in that study. 16#17Business strategy Acquire • Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage • ExtraCash provides short-term advances to members in lieu of expensive overdraft fees • Enabled by continuous Al-driven underwriting • Capital light product due to short duration • Automated settlement Deepen • Dave Card offers members a full service, no mandatory fee banking solution built on a light-weight, modern tech stack. • Creates longer-term payments relationship with instant spending and early paycheck access 17#18Solid engagement Y-o-Y growth in MTMs driven by engagement- focused marketing, rollout/optimization of ExtraCash $500, underwriting improvements which bolster retention, and broader roll-out of Dave Card offering. On a sequential basis, MTMs were driven by a meaningful increase in higher-ARPU ExtraCash and Dave Card MTMs, offset by decline in subscribers due to migration off of legacy subscription billing system and onto our newly-built platform which better positions us to launch new subscription offering(s) over the coming quarters. As highlighted below, 2Q23 non-GAAP revenue increased 3% Q-0-Q as the 5% increase in ARPU more than offset the decline in MTMs. Growth in MTMs will be driven by marketing spend, further enhancements to ExtraCash value proposition and underwriting, and deeper cross-attach on Dave Card, which has more favorable retention characteristics. Dave Total Monthly Transacting Members (MMS) 1.5 2Q22 26% Year-Over-Year Growth 1.8 3Q22 Note: See Glossary for the definition of Monthly Transacting Members 1.9 4Q22 2.0 1Q23 1.9 2Q23 18#19Sustained growth in originations Originations grew 43% Y-o-Y, reflecting strong continued demand and favorable macro tailwinds. Originations increased 9% Q-0-Q as the first quarter typically experiences seasonally lower demand for ExtraCash due to tax refunds which help to support the liquidity needs of our Members. $867mm of originations translating into a $89mm net receivables balance as of 6/30/23 reflects the capital efficient nature of ExtraCash. With dynamic underwriting, we continue to grow originations, improve DQ rates, and efficiently recycle capital to meet our members' needs. Dave ExtraCash Origination Volume ($MM) $606 2Q22 43% Year-Over-Year Growth $757 3Q22 Note: See Glossary for the definition of Origination Volume $801 4Q22 $798 1Q23 $867 2Q23 19#20ExtraCash Advance Sizes and Revenue Per Advance Average ExtraCash Advance Size $128 2Q22 Dave 22% Year-Over-Year Growth $131 3Q22 $144 4Q22 $154 1Q23 $156 2Q23 Average Revenue per ExtraCash Advance¹ $8.10 2Q22 9% Year-Over-Year Growth $8.21 3Q22 (1) Average Revenue per ExtraCash Advance defined as sum of Tips (GAAP) + Fees (GAAP) generated divided by total advances disbursed over a given period. $8.60 4Q22 $9.01 1Q23 $8.84 2Q23 20#21Improving delinquency performance 2Q23 DQ rate improved 84bps Y-o-Y, while ExtraCash originations grew 43% as we continue to optimize underwriting. DQ rate improved 164bps vs. 2Q21, a period which benefited from fiscal stimulus. DQ rates increased Q-o-Q by 23bps, consistent with seasonal patterns, as first quarter credit performance typically benefits from tax refunds. Rise in DQ rate from first quarter to second quarter has improved materially in recent years. Our underwriting is differentiated as our Al primarily uses bank account transaction data, allowing us to detect, nearly in real-time, changes in income, spending, savings, and employment signals. FICO underwriting bases credit decisions on bureau data which are lagging indicators of risk. DQ rates controllable with dynamic nature of underwriting/risk management strategies, combined with short-term nature of the ExtraCash product. Dave 28 Day Average Quarterly Delinquency Rate 3.99% 4.32% 4.20% 3.06% 3.52% 4.87% 5.93% 3.56% 4.47% 4.20% Note: See Glossary for the definition of 28 Day Average Quarterly Delinquency Rate 3.48% 84 bps improvement Y-o-Y 3.27% 3.67% 4.07% 3.58% 2.60% 2.83% ||||||| 11 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 21#22Business strategy Acquire • Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage • ExtraCash provides short-term advances to members in lieu of expensive overdraft fees • Enabled by continuous Al-driven underwriting • Capital light product due to short duration • Automated settlement Deepen • Dave Card offers members a full service, no mandatory fee banking solution built on a light-weight, modern tech stack. • Creates longer-term payments relationship with instant spending and early paycheck access 22#23Dave Card spend volumes In 3Q22, every new Dave Member began receiving an ExtraCash account and a Dave Card, unlocking synergies between ExtraCash and Dave Card products. 2Q23 Y-o-Y growth in Dave Card spend volumes was primarily driven by the the continued increases in ExtraCash Members spending their advances with the Dave Card in addition to expanding Dave Card engagement; Q-o-Q growth is encouraging as first quarter is typically the seasonally strongest due to favorable spending impacts from tax refunds. Using a modern tech stack, we can operate a fully capable, branchless banking product at a fraction of the cost of incumbents. Dave Dave Card Spend Volumes ($MM) $171 2Q22 77% Year-Over-Year Growth $197 3Q22 Note: See Glossary for the definition of Dave Card Spend Volumes $263 4Q22 $295 1Q23 $304 2Q23 23#24Flywheel effect between ExtraCash and Dave Card Growing Dave Card adoption amongst Members is driving more transactions per active user thus deepening recurring engagement with our Members. Continued growth in transactions per Member represents Dave gaining a greater share of member spending, allowing us to unlock additional ARPU potential within our banking product. 27% Y-O-Y increase primarily driven by continued strategic priority of members spending ExtraCash on their Dave Cards. Further product enhancements, such as our recent launch of 4% APY on Members' Dave Card and Goals accounts, expected to continue to spur growth in engagement across the Dave ecosystem. Dave Average Monthly Transactions per Monthly Transacting Member 4.5 2Q22 27% Year-Over-Year Growth 4.6 3Q22 5.2 4Q22 Note: See Glossary for the definition of Transactions Per Monthly Transacting Member 5.3 1Q23 5.7 2Q23 24#25ARPU/member monetization ARPU grew 6% Y-o-Y as increasing ExtraCash Member limits + focus on cross-attaching users into Dave Card have improved monetization of engaged users. ARPU increased 5% Q-0-Q as ExtraCash engagement improved following tax refund season in the first quarter in addition to growth in Dave Card engagement. Ability for users to seamlessly spend ExtraCash funds via Dave Card expected to continue to drive improved transaction ARPU and will continue to be a primary strategic focus in 2023 alongside other ExtraCash-related improvements and optimizations. Dave Annualized Revenue per Monthly Transacting Member $122 2Q22 $129 3Q22 6% Year-Over-Year Growth $131 Note: See Glossary for the definition of Monthly Transacting Members 4Q22 $124 1Q23 $129 2Q23 25#26Dave Financial Overview 26#27Consistent revenue growth 33% Y-o-Y Non-GAAP revenue growth driven by: Increase in transacting member base • Improved ExtraCash engagement/monetization given material underwriting improvements which bolster retention Accelerating growth in Transaction Revenue driven by ExtraCash to Dave Card cross-attach and growth in external funding 3% Q-o-Q increase in non-GAAP revenue primarily driven by an increase in non-GAAP services revenue due to normalization of seasonal trends for ExtraCash and, to a lesser extent, sequential growth in Non-GAAP transaction revenue. Dave Total Non-GAAP Revenue ($MM) $47.0 2Q22 33% Year-Over-Year Growth $58.6 3Q22 Note: See Glossary for the definition of Adjusted EBITDA Note: See Appendix for reconciliation of Non-GAAP measures. $61.8 4Q22 $60.6 1Q23 $62.4 2Q23 27#28Expanding variable margin Variable margin expanded ~1,400bps Y-o-Y due to: • Lower provision expense as % of non-GAAP revenue given significant improvements in credit performance • Renegotiated key vendor contract, effective 1/1/23 • Processing cost enhancements related to how we utilize payment networks to move money Variable margin contracted slightly Q-o-Q due to higher provision expense resulting from increased ExtraCash originations and modest normalization of credit performance relative to the seasonally strongest first quarter. Other Variable Expenses continued to decline as a % of Non-GAAP revenue based on continued processing efficiencies. Dave Variable Profit Margin (Non-GAAP) 39% 29% 35% Year-Over-Year Growth 42% 31% 2Q22 3Q22 4Q22 Provision for Credit Losses - % of Non-GAAP Revenue || 41% 31% Other Variable Expenses - % of Non-GAAP Revenue 27% 33% 26% 56% 1Q23 20% 24% Note: Variable Profit Margin (Non-GAAP) is defined as Non-GAAP Variable Profit divided by Non-GAAP Revenue. See Glossary for the definition of Non-GAAP Variable Profit and Non-GAAP Revenue. Note: See Appendix for reconciliation of Non-GAAP measures. 53% 2Q23 26% 22% 28#29Reduced Adjusted EBITDA losses Adj. EBITDA loss improved 54% Y-o-Y driven by revenue growth, variable margin expansion, and marketing efficiencies. Excluding $4 million legal settlement charge related to 2020 data breach, Adj. EBITDA Loss would have improved by ~70%. 2Q23 Adj. EBITDA loss widened Q-o-Q due to: Higher marketing related to ramping Member acquisition; $1.4mm related to brand refresh and creative assets which began airing in 3Q23 $4mm legal settlement charge Higher provision expense related to greater ExtraCash originations We believe our existing team is sufficient to execute our plan and deliver operating leverage as we scale. $178mm of cash and securities as of 6/30/23 vs. $196mm as of 3/31/23; reduction due largely to growth in receivables funded with existing balance sheet cash. Dave Adjusted EBITDA (Non-GAAP) ($MM) 2Q22 ($28.5) 3Q22 ($28.5) 4Q22 Note: See Glossary for the definition of Adjusted EBITDA Note: See Appendix for reconciliation of Non-GAAP measures. ($11.8) 1Q23 ($4.5) (54%) YoY reduction in EBITDA loss 2Q23 ($13.1) 29#30Path to profitability: key milestones ✔Pre-4Q22 Contribution Profit Positive Contribution margin profitable since pre-2020 Positions Dave for profitability as it scales Dave V4Q22 Adj. EBITDA Positive (Pre-Marketing) Achieved in 4Q22 i.e. earlier than prior guidance of 2023 Digital marketing spend can be flexed to optimize ROIS and preserve liquidity as needed • Implies level of self-sustainability of business model given our solid levels of organic acquisition 2024 Adjusted EBITDA Positive Growth in MTMs: projected to turn break-even @ 2.1-2.3mm MTMs Conservative assumptions on continued ARPU improvement o Further optimizing ExtraCash e.g. funnel, monetization o Growing cross-attach to Dave Card Deeper focus on incentivizing direct deposit relationships Margin expansion based largely on identified, quantifiable initiatives o Underwriting + settlement optimization; renegotiating contracts o Driving direct deposit relationships as Dave Card matures O Intensified focus on fraud controls and risk management Operating leverage of fixed cost base as variable profit scales O 30#31Investment summary: Dave Acquire Market-leading CAC bolstered by profitable unit economics with credible growth prospects. Engage Differentiated Al-driven underwriting with capital efficient business model. Deepen ExtraCash to Dave Card flywheel effect unlocks additional revenue potential within massive, growing TAM. Strong liquidity position sufficient to amply support company through to profitability. 31#32Dave Appendix 32#33Dave members are largely Millennial, lower income, and distributed across the U.S. Dave Age <25 7% 45+ 20% 35 - 44 35% 25 - 34 38% (1) Excludes 3% users who decline to self report income. Gender Male 35% Female 65% Annual Income¹ $60k+ 29% $40k -$60k 25% $25k-$40k 21% <$25k 22% U.S. State Other 43% NY 5% CA 7% FL 11% TX 11% KY 3% OH 4% IL 4% GA 4% AZ 4% PA 5% 33#34Glossary 28 Day Average Quarterly Delinquency Rate defined as the amount of Origination Volume which is past due 28 days after the end of the month in which the ExtraCash advance was disbursed divided by the Origination Volume in that disbursement month Adjusted EBITDA defined 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 Average Revenue per ExtraCash Advance defined as sum of Tips (GAAP) + Fees (GAAP) generated divided by total advances disbursed over a given period Customer Acquisition Costs ("CAC") defined as all advertising and marketing operating expenses in a given period divided by the number of new members who join the Dave platform in a given period by connecting an existing bank account to the Dave service or by opening a new Dave Banking account Dave Card Spend Volumes defined as the total dollar amount of Dave Card debit spending transactions over a given period Monthly Transacting Members ("MTMs") defined as the unique number of Members who have made a funding, spending, ExtraCash or subscription transaction within a particular month, measured as the average over a given period Non-GAAP Revenue defined as Revenue, net excluding direct loan origination costs, interchange fees and ATM fees Non-GAAP Variable Profit defined as Non-GAAP Revenues excluding Non-GAAP Variable Operating Expenses Dave 34#35Glossary (Cont'd) Non-GAAP Variable 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, upfront Member account activation costs and upfront Dave Card expenses) Origination Volume defined as the total dollar amount of ExtraCash advances disbursed to Members in a given period Total Members defined as the number of unique Members that have either connected an existing bank account to the Dave service or have opened a Dave Banking account, less the number of accounts deleted by Members or closed by Dave, as measured at the end of a period Transactions Per Monthly Transacting Member defined as the average number of transactions initiated per Monthly Transacting Member in each month, measured as the average over a given period Dave 35#36Reconciliation of Non-GAAP Measures Dave DAVE INC. RECONCILIATION OF OPERATING REVENUES, NET TO NON-GAAP OPERATING REVENUES (in millions) (unaudited) Operating revenues, net ExtraCash origination and ATM-related costs Non-GAAP operating revenues $ For the Three Months Ended June 30, 2023 2022 61.2 $ 1.2 62.4 $ 45.8 1.2 47.0 $ $ For the Six Months Ended June 30, 2023 2022 120.2 2.9 123.1 $ $ 88.4 2.3 90.7 36#37Reconciliation of Non-GAAP Measures Dave Operating expenses Non-variable operating expenses Non-GAAP variable operating expenses Non-GAAP operating revenues Non-GAAP variable operating expenses Non-GAAP variable profit Non-GAAP variable profit margin RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES (in millions) (unaudited) $ $ $ For the Three Months Ended June 30, 2023 2022 CALCULATION OF NON-GAAP VARIABLE PROFIT (in millions) (unaudited) $ 82.2 $ (52.7) 29.5 $ For the Three Months Ended June 30, 2023 2022 62.4 $ (29.5) 32.9 $ 53% 98.8 (70.3) 28.5 47.0 (28.5) 18.5 39% $ $ $ $ For the Six Months Ended June 30, 2023 2022 153.6 $ (97.5) 56.1 $ For the Six Months Ended June 30, 2023 2022 123.1 $ (56.1) 67.0 54% 164.0 (109.6) 54.4 $ 90.7 (54.4) 36.3 40% 37#38Reconciliation of Non-GAAP Measures Dave Net loss DAVE INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (in millions) (unaudited) Interest expense, net Provision for income taxes Depreciation and amortization Stock-based compensation Other strategic financing and transactional expenses Changes in fair value of earnout liabilities Gain on extinguishment of liability Changes in fair value of derivative asset on loans to stockholders Changes in fair value of public and private warrant liabilities Adjusted EBITDA $ $ For the Three Months Ended June 30, 2023 2022 (22.6) $ 1.4 - 1.3 6.6 0.2 (13.1) $ (27.1) $ 1.6 - 1.6 22.9 1.9 (7.6) (4.3) (17.5) (28.5) $ For the Six Months Ended June 30, 2023 2022 (36.6) $ 3.2 - 2.4 13.4 (17.6) $ (59.9) 3.2 0.1 2.7 26.0 2.8 (9.6) (4.3) 5.6 (13.5) (46.9) 38