#1Dave 1Q23 Earnings Presentation May 9, 2023 Dave 9:41 debit Dave Welcome, Kira! Available balance $100 ************ 1184 ExtraCash advances You're approved for $175! Reach your goals faster Save every time you spend with Round Up 120 back when you $200 ir next purchase all Tô Earn cash back Check out Dave rewards and get cash back when you shop. +#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 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, 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 Dave's ability to maintain the listing Class A common stok on Nasdaq; Dave's management has limited experience operating a public company; Dave transfers funds to members daily, which in 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 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 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 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 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 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 MISSION Build products that level the financial playing field. OUR STRATEGY Build a superior banking solution for everyday Americans. Dave Dave debit 4#5Large addressable market exhibiting solid growth trajectory Dave TAM = 176MM Customers 6% Y-O-Y Growth (9MM Customers) in 2022 Financially Vulnerable 37MM Spending > Income • Minimal savings Overdraft 10-20x per year Need help building credit Need to find new work opportunities Financially Coping 139MM Spending ~ Income • Moderate near-term savings; insufficient long-term savings • Overdraft several times per year • Need help building credit Need access to affordable credit Note: TAM = total addressable market. Source: Financial Health Network's "Financial Health Pulse 2022 U.S. Trends Report"; 176 million represents the total number of financially vulnerable and financial coping consumers in that study. 5#6Differentiated 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 • Creates longer-term payments relationship with instant spending and early paycheck access 6#7Dave's ExtraCash product overview ExtraCash Attribute Advance Size Term Underwriting How Dave Makes Money Dave $25 - $500 Average:~$154 Typically: 1-2 weeks Cash flow: based per linked bank account data Free Delivery: ACH (1-3 days) Tips: Optional Members Have Two Options Express Fee: via debit rails (Instant) Tips: Optional 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 provides flexibility in price / experience . Consumer friendly • Instant access to funds . More affordable than overdraft fees & other short-term credit 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 express fees provide predictable monetization and favorable unit economics 9:41 Dave Extra Cash balance + advance $250 Add funds How is my total available calculated? Extra Cash account balance Advance available O all Total available Transfer $0.00 $250.00 $250.00 7#8Dave 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 • Facilitates spending needs • 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 • Allows members to set aside money towards milestones • No minimum balances • No account maintenance fees No overdraft fees 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 ¹ Refers to fee income which is paid to us by our bank sponsor, Evolve Bank & Trust, based on Dave Member deposits. Dave® debit 8#9Dave Highlights 9#101Q23 highlights Quarterly Non-GAAP $44M 1Q22 Dave Revenue 39% Y-O-Y Growth $61M 1Q23 28 Day Delinquency Rate 3.27% 1Q22 67bps Y-O-Y Reduction 2.60% 1Q23 Customer Acquisition $26 1Q22 Cost 39% Y-O-Y Reduction $16 1Q23 Note: See Glossary for the definition of Non-GAAP Revenue, 28 Day Delinquency Rate, Customer Acquisition Cost, and Adjusted EBITDA. Adjusted EBITDA ($18M) 1Q22 75% ($5M) Y-O-Y Reduction 1Q23 10#11Reiterating fiscal year 2023 guidance Non-GAAP Revenue: Y-O-Y Growth: Non-GAAP Variable Margin: Y-O-Y Improvement: Adjusted EBITDA: Y-O-Y Improvement: Low $235M 11% 43% 200bps ($50M) 43% High $260M 23% 47% 600bps ($35M) 60% Dave 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. 11#12Dave Business Strategy 12#13Business strategy Acquire • Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage Delight members with same-day cash advance access using Al underwriting • Profitably grow ExtraCash originations Deepen Create a Dave Card payments relationship with instant spending and early direct deposit access • Build primary direct deposit relationships 13#14Strong growth while improving CAC Product enhancements, channel optimization and favorable market conditions supporting continued CAC efficiency vs. prior periods. Year-over-year CAC improved substantially (39%) such that we were able to acquire 27% more new Members for 23% less marketing spend. We expect to accelerate marketing spend in the coming quarters to capitalize on demand for ExtraCash and the higher returns on investment we can achieve at greater scale in those periods. Dave Customer Acquisition Cost CAC and New Member Acquisition (000s) $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 $0 463 $26 1Q22 703 $30 998 $24 3Q22 2Q22 New Member Acquisition (000) Note: See Glossary for the definition of Customer Acquisition Costs 715 27% Year-Over-Year Growth $17 4Q22 587 39% Y-O-Y Improvement CAC $16 1Q23 1,200 1,000 800 600 400 200 New Member Acquisition (000s) 14#15Significant 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 million (¹) U.S. consumers, which grew 6% YoY in 2022, provides a secular tailwind. Dave Total Members (MMS) 6.4 1Q22 36% Year-Over-Year Growth 6.9 2Q22 7.8 3Q22 8.3 4Q22 8.7 1Q23 Note: See Glossary for the definition of Total Members (1) Source: Financial Health Network's "Financial Health Pulse 2022 U.S. Trends Report"; 176 million represents the total number of financially vulnerable and financial coping consumers in that study. 15#16Increasing engagement Growth driven by engagement-focused marketing, continued rollout and optimization of ExtraCash $500, and underwriting improvements which bolster retention. Continued growth expected as we accelerate marketing spend, drive further enhancements to the ExtraCash value proposition and underwriting engine, and deepen cross-attach on Dave Card, which has more favorable retention characteristics and higher transaction frequency. Dave Total Monthly Transacting Members (MMS) 1.4 1Q22 34% Year-Over-Year Growth 1.5 2Q22 1.8 3Q22 Note: See Glossary for the definition of Monthly Transacting Members 1.9 4Q22 2.0 1Q23 16#17Business strategy Acquire Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage • Delight members with same-day cash advance access using Al underwriting . Profitably grow ExtraCash originations Deepen Create a Dave Card payments relationship with instant spending and early direct deposit access • Build primary direct deposit relationships 17#18Sustained growth in originations Originations grew 46% Y-o-Y, reflecting strong continued demand; magnified by macro tailwinds. Originations were ~flat Q-o-Q due to seasonally lower demand for ExtraCash, as tax refunds help to support the liquidity needs of our Members. $798mm of originations translating into a $80mm net receivables balance as of 3/31/23 reflects capital efficient nature of the ExtraCash. Dave ExtraCash Origination Volume ($MM) $545 1Q22 46% Year-Over-Year Growth $606 2Q22 Note: See Glossary for the definition of Origination Volume $757 3Q22 $801 4Q22 $798 1Q23 18#19Growth in ExtraCash advance sizes has bolstered ARPU Average ExtraCash Origination Size $132 1Q22 Dave 17% Year-Over-Year Growth $128 2Q22 $131 3Q22 $144 4Q22 $154 1Q23 Average Revenue per ExtraCash Origination¹ $8.43 1Q22 7% Year-Over-Year Growth $8.10 2Q22 $8.21 3Q22 (1) Average Revenue per ExtraCash Origination defined as sum of Tips (GAAP) + Fees (GAAP) generated divided by total advances disbursed over a given period. $8.60 4Q22 $9.01 1Q23 19#20Improving delinquency performance Significant and continued improvements in DQ rates: 98bps q-o-q driven by underwriting enhancements and seasonal strength from tax refunds • 67bps y-o-y while growing ExtraCash originations by 46%; due to underwriting optimizations Credit performance should normalize modestly q-o-q due to planned growth in Member acquisition and as the favorable impact of tax refund season recedes. Our underwriting is differentiated as our Al is primarily using bank account transaction data which allows 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 3.21% 1Q19 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% 3.48% Note: See Glossary for the definition of 28 Day Average Quarterly Delinquency Rate 3.27% 98 bps improvement QoQ 4.07% 3.67% 3.58% ili 67bps improvement YoY 2.60% III LIITT 2Q19 3Q19 4Q19 1020 2020 3Q20 4020 1021 2Q21 3Q21 4Q21 1Q22 2022 3Q22 4Q22 1023 20#21ARPU/member monetization ARPU grew 3% y-o-y grew largely based on the increasing adoption of Dave Card as well as the increase in average revenue per ExtraCash origination. ARPU declined q-o-q as growth in Dave Card / transaction-based revenue was more than offset by seasonally lower demand for ExtraCash due to tax refunds. Ability for users to seamlessly spend ExtraCash funds via Dave Card expected to continue to drive improved transaction revenue ARPU and will continue to be a primary strategic focus in 2023. Dave Annualized Revenue per Monthly Transacting Member $121 1Q22 3% Year-Over-Year Growth $122 2Q22 $129 3Q22 Note: See Glossary for the definition of Monthly Transacting Members $131 4Q22 $124 1Q23 21#22Business strategy Acquire Acquire efficiently by marketing top of mind liquidity pain points Grow prudently to facilitate break-even Dave Engage Delight members with same-day cash advance access using Al underwriting • Profitably grow ExtraCash originations Deepen Create a Dave Card payments relationship with instant spending and early direct deposit access • Build primary direct deposit relationships 22#23Dave Card spend volumes In 3Q22, every new Dave Member began receiving an ExtraCash account and a Dave Card, unlocking synergies between ExtraCash and Dave Card products. 1Q23 growth in Dave Card spend volumes was primarily driven by the growth in MTMs, the continued increases in ExtraCash Members spending their advances with the Dave Card, and the seasonal support provided by tax refunds. Dave Dave Card Spend Volumes ($MM) $182 62% Year-Over-Year Growth $171 $197 1Q22 2Q22 Note: See Glossary for the definition of Dave Card Spend Volumes 3Q22 $263 4Q22 $295 1Q23 23#24Flywheel effect between ExtraCash and Dave Card Growing Dave Card adoption amongst Members is driving more transactions per active, deeping the daily use case we have with our Members. Additional transactions per MTM also allows us to gain greater share of wallet to unlock the additional ARPU of our banking product. 5% q-o-q increase primarily driven by continued strategic priority of members spending ExtraCash on their Dave Cards and positive seasonality as a result of tax refunds; partially offset by negative tax season effects on ExtraCash engagement. Dave Average Monthly Transactions per Monthly Transacting Member 4.6 1Q22 19% Year-Over-Year Growth 4.5 2Q22 4.6 3Q22 Note: See Glossary for the definition of Transactions Per Monthly Transacting Member 5.2 4Q22 5.4 1Q23 24#25Dave Financial Overview 25#26Consistent revenue growth 39% y-o-y non-GAAP revenue growth driven by: • Increase in transacting member base • Improved ExtraCash engagement/monetization given material underwriting optimizations Accelerating growth in Transaction Revenue driven by ExtraCash to Dave Card cross-attach and growth in external funding 2% q-o-q decline in non-GAAP revenue driven by 4% decrease in non-GAAP services revenue due to seasonal patterns, offset partially by 17% sequential growth in non-GAAP transaction revenue. Dave Total Non-GAAP Revenue ($MM) $43.7 1Q22 39% Year-Over-Year Growth $47.0 2Q22 $58.6 Note: See Glossary for the definition of Non-GAAP Revenue 3Q22 $61.8 4Q22 $60.6 1Q23 26#27Expanding variable margin Variable margin expanded in 1Q23 primarily due to: • Markedly lower provision expense given significant improvements in credit performance and stronger settlements resulting from favorable seasonal impacts of tax refunds which reduced the receivables balance, loss allowance and provision • Renegotiated key vendor contract, effective Jan. 1 • Ongoing processing cost enhancements related to how we utilize payment networks to move money We do not expect variable margin to remain as elevated in the quarters ahead; we anticipate provision expense as a % of revenue to normalize alongside seasonal patterns though remain lower than 2022 levels due to sustained improvements in underwriting performance. Variable margin for the balance of the year should remain notably above 2022 levels and, for the full year, fall comfortably within our annual guidance. Dave Variable Profit Margin (Non-GAAP) 41% 1Q22 2Q22 3Q22 Provision for Credit Losses - % of Non-GAAP Revenue 32% 39% 28% 29% 42% 41% ||| 4Q22 Other Variable Expenses - % of Non-GAAP Revenue 31% 31% 27% 33% 56% 26% 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. 27#28Reduced Adjusted EBITDA Losses 1Q23 Adj. EBITDA loss improved 62% Q-o-Q driven by: Variable margin improvements (see slide 29) Moderated marketing investment supported by continued CAC efficiencies We continue to believe that our existing team is sufficient for us to execute on our growth plan and will deliver operating leverage as we scale, further solidifying our path to profitability. $196mm of cash and securities as of Mar. 31, 2023 vs. $193mm as of Dec. 31, 2022: Increase in cash largely due to strong ExtraCash settlements and moderated originations Nearly 2yrs. of remaining term on credit facility • Facility advance rate increases (and cost of funds decreases) as facility utilization increases Dave Adjusted EBITDA (Non-GAAP) ($MM) 1Q22 2Q22 3Q22 '|| ($18.3) ($28.5) Note: See Glossary for the definition of Adjusted EBITDA ($28.5) 4Q22 ($11.8) (59%) QoQ reduction in EBITDA loss 1Q23 ($4.5) (62%) QoQ reduction in EBITDA loss 28#29Path to profitability: key milestones Pre-4Q22 Contribution Profit Positive Contribution margin profitable since pre-2020 Positions Dave for profitability as it scales Dave 4Q22 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 @ 2.2 - 2.4mm MTMs Conservative assumptions on continued ARPU improvement o Further optimizing ExtraCash e.g. funnel, monetization o Growing cross-attach to Dave Card o 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 29#30Investment 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. 30#31Dave Appendix 31#32Glossary 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 32#33Glossary (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 33#34Condensed consolidated statement of operations Dave Operating revenues: Service based revenue, net Transaction based revenue, net Total operating revenues, net DAVE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions) (unaudited) Operating expenses: Provision for credit losses Processing and servicing costs Advertising and marketing Compensation and benefits Other operating expenses Total operating expenses Other expenses (income): Interest expense, net Other strategic financing and transactional expenses Changes in fair value of earnout liabilities Changes in fair value of derivative asset on loans to stockholders Changes in fair value of public and private warrant liabilities Total other expenses Net loss before provision for income taxes Provision for income taxes Net loss $ $ For the Three Months Ended March 31, 2023 2022 52.6 6.3 58.9 12.0 7.1 9.4 24.4 18.5 71.4 1.6 (0.1) 1.5 (14.0) (14.0) S $ 39.3 3.3 42.6 13.8 6.5 12.2 17.9 14.8 65.2 1.5 1.0 (2.0) 5.6 4.1 10.2 (32.8) (32.8) 34#35Reconciliation of net loss to adjusted EBITDA Dave Net loss Interest expense, net Provision for income taxes Depreciation and amortization Stock-based compensation DAVE INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (in millions) (unaudited) Other strategic financing and transactional expenses Changes in fair value of earnout liabilities 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 March 31, 2023 2022 (14.0) $ 1.6 1.2 6.8 (0.1) (4.5) $ (32.8) 1.5 1.1 3.2 1.0 (2.0) 5.6 4.1 18.3) 35#36Reconciliations 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 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 March 31, 2023 2022 CALCULATION OF NON-GAAP VARIABLE PROFIT (in millions) (unaudited) $ $ 58.9 1.7 60.6 For the Three Months Ended March 31, 2023 2022 71.4 (44.8) 26.6 $ $ (26.6) $ $ For the Three Months Ended March 31, 2023 2022 60.6 $ 34.0 $ 56% 42.6 1.1 43.7 65.2 (39.3) 25.9 43.7 (25.9) 17.8 41% 36#37Liquidity and capital resources Dave Cash, cash equivalents and restricted cash Marketable securities Short-term investments Working capital Total stockholders' equity DAVE INC. LIQUIDITY AND CAPITAL RESOURCES (in millions) (unaudited) S March 31, 2023 52.5 34.4 108.8 265.3 100.1 $ December 31, 2022 23.7 0.3 168.8 272.2 106.6 37