#1talk space 2022 Third Quarter Earnings Presentation November 8th 2022 to check in with them about your results. Discussion points • What does my score mean? What are some strategies I can practice to manage my symptoms better? • Lately I've been feeling.... 9:41 9:41 Discuss with your therapist I'm going to focus on... Sharon Brushing my tooth Som Done Brushing my Watering my plants Next Eating a meal Drinking coffee or tea 222 Sharon Adams Hurst Working today Dec 12, 11:30 AM By signing up for Talkspace you have made a really meaningful choice. I know it can be an overwhelming decision but therapy can help you become a happier you. 14:40 OG Yeah, I'm going through a lot and it's been a struggle. I felt like I had to talk to a professional but my schedule is so busy. 5 min Sensory awareness 2 minutes 15 m Identify patterns Gain new insights Record thoughts Overcoming worry Identify thought patterns Reduce foars improve coping ski 9:41 Incroase awareness Improves concentration Reduces stress 9:41 12 Keep Going You're on session 4 of 5 Let's Exercise: Your Emotional Calls Foundations My Series Start a new topic or revisit past sessions Start Now Foundations s Sessions Rooms Steve, 4 of 5 Becca, 4 of 5 Comparisons available for sessions 3 All- My Reminders UIN t Emoti 13 Sessi Steve, 2 I understand how this would impact your mood. It's real Восса Becca ha Share S all - O Sharon Adams H... 12:00 PM > Therapist, MS LCSW 9:41 < <4) < Finding the right match 12 questione-2men Finding a great therapist begins with leaming about what brings you to therapy and some basic information about you and what you're looking to achieve. 9:41 Begin Treatment intake To ensure proper care, it's important to have a history of your mental and physical health. Take a few minutes to complete the sections below. Emergency contact Completed Feb 25, 2019 Mental health Completed Feb 25,2015 Medical history 7 questions-2usin Therapy tools R 9... .….. 9:41 Live videc Next session 5PM, Thursd Clinical pro Apr 8 Therapy e Build healthy empowering Your journ Follow the sta stages of the 9:41 Symptom tracke Assessm Complete y track your Due Frida Depression None- Low While you do not have symptoms, therapy car reduce stress and shitt that are keeping you st talkspace Start asse Learn more Apr 29 May 2 How di situation m feel 5 You can choose m Happy#2Disclaimer This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, achieving profitability, business strategy and plans, market opportunity and expansion and objectives of our management for future operations. These forward-looking statements generally are identified by the words "anticipate," "believe," "contemplate," "continue," "could," stimate," "expect," "forecast", "future", "intend," "may," "might", "opportunity", "plan," "possible", "potential," "predict," "project," "should," "strategy", "strive", "target," "will," or "would", the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many important factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: our history of losses; the rapid evolution of our business and the markets in which we operate; our ability to continue growing at the rates we have historically grown, or at all; the development of the virtual behavioral health market; COVID-19 and its impact on business and economic conditions; a deterioration in general economic conditions as a result of inflation, increased interest rates or otherwise; competition in our industry; and our relationships with affiliated professional entities to provide physician and other professional services. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in under the caption "Risk Factors" in our Annual Report on Form 10-K for the annual period ended December 31, 2021 filed with the Securities and Exchange Commission ("SEC") on February 25, 2022 and in our other documents filed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations. Certain information contained in this presentation relate to or are based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources, and you are urged not to give undue weight to such third-party information. While the Company believes its internal research is reliable, such research has not been verified by any independent source. This presentation contains the measure Adjusted EBITDA, which is a non-GAAP financial measure. For additional information about the measure and a reconciliation to the most closely comparable GAAP measure see the appendix to this report. talk space 2#33Q 2022 Performance Highlights USD, millions $35 $30 $25 $20 $15 $10 Revenue and % composition $5 $0 $26.4 71% 29% Q3 '21 B2C B2B $29.3 43% 57% 1 Q3 '22 Sessions, thousands 125 100 75 50 25 0 (1) Revenue breakdown as reported, including prior-period reserve allowance. (2) Includes sessions from Employee Assistance Programs ("EAP") and Managed Behavioral Health ("MBH"). (3) Reflects active members at the end of the period. # B2B Sessions ² 71 Q3 '21 111 Q3 '22 Members, thousands 50 40 30 20 10 3 B2C Active Members ³ 0 28 Q3 '2 18 Q3 '22 talk space 3#4Executing On Our Strategic Priorities 1 Grow B2B Business Higher conversion and engagement via product improvements ●Expanding covered lives and national payor relationships •Improved DTE margin profile 3 Enhance Clinical Network Expanded network availability Higher NPP clinical efficiency/productivity Improved clinical platform 2 Cash Flow Break-Even Reduced opex run rate; Partial benefit in 4Q Revenue cycle management and customer service Ongoing efficiency efforts 4 Optimize B2C Business ●Increase media efficiency Improved paid conversion and organic traffic •Reduced third-party vendor costs talk space 4#53Q 2022: Key Performance Metrics (1) USD, millions $35 $25 $15 $5 $29.2 $16.5 $12.7 Q4 '21 Revenue $30.2 $17.3 $12.9 Q1 '22 B2C 1 $29.8 $29.3 $15.3 $14.6 $12.5 $16.8 Q2 '22 Q3 '22 B2B Revenue is presented on an as-reported basis. B2B revenue includes post-session member payments related to MBH, with the exception of 1Q'22. USD, millions $20 $15 $10 $5 $0 Gross Profit and % Margin $16.0 54.7% Q4 '21 $15.0 49.8% Q1 '22 Gross Profit $14.5 $14.6 48.7% Q2 '22 49.8% Q3 '22 % Margin 65% 60% 55% 50% 45% 40% 35% 30% talk space LO 5#63Q 2022: Key Performance Metrics (cont'd) (1) (2) USD, millions $50 $40 $30 $20 $10 $0 $44.5 1 Operating Expenses ¹ $10.5 $36.2 $2.4 $34.1 $33.9 Q4 '21 $35.6 $3.8 Q1 '22 SBC + Non-Recurring $31.8 $30.4 $34.4 $4.1 Q2 '22 Q3 '22 OpEx USD, millions ($25) ($20) ($15) ($10) ($5) ($0) 4Q'21 includes non-recurring severance expenses of $3.7M; 3Q'22 includes $0.6M non-recurring expenses and $0.3M expenses related to prior periods. Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation to the most directly comparable GAAP measure, see the appendix to this presentation. 2 Adjusted EBITDA Loss ² ($17.6) Q4 '21 ($18.4) ($17.0) Q1 '22 Adj. EBITDA Q2 '22 ($15.5) Q3'22 talk space 6#73Q 2022 Key Operating Metrics: B2B (1) (2) USD, millions $20 $15 $10 $5 Revenue by Customer Type $0 $12.7 $12.9 $7.3 $7.2 $5.4 $5.7 $14.6 $7.9 $6.7 Q4 '21 Q1 '22 Q2 '22 MBH & EAP ☐ DTE 1,2 $16.8 $9.5 $7.3 Q3 '22 Sessions, thousands 125 100 75 50 25 0 Revenue is presented on an as-reported basis, and includes change in reserves related to prior periods. B2B revenue includes post-session member payments related to MBH, with the exception of 1Q'22. 81.6 Q4 '21 B2B Sessions 90.6 Q1 '22 96.0 Q2 '22 111.4 Q3 '22 Enterprise customers 250 200 150 100 50 0 # DTE Accounts 158 Q4 '21 189 Q1 '22 205 Q2 '22 215 Q3 '22 talk space 7#83Q 2022 Key Operating Metrics: B2C (1) (2) USD, millions $20 $15 $10 $5 $0 $16.5 Revenue $17.3 1,2 $15.3 $12.5 Q4 '21 Q1 '22 Q2 '22 Q3 '22 Revenue is presented on an as-reported basis. B2C revenue excludes post-session member payments, with the exception of 1Q'22. (3) Reflects active members at the end of the period. Members, thousands 25 20 15 10 LO 5 0 Active Members ³ 23.8 Q4 '21 22.2 20.1 17.9 Q1' 22 Q2 '22 Q3 '22 % Change QoQ Q4 '21 Advertising Spend (19%) (23%) Q1 22 Q2 '22 Q3 '22 (9%) talk space 8#9Closing Remarks Full-stack behavioral health platform to serve sizable, underpenetrated & growing TAM 85 Integrated machine learning model to drive member engagement & improve clinical efficacy Growing B2B business with multiple drivers to increase market penetration & enhance profitability Solid brand to leverage across multiple distribution channels Network of licensed clinicians addressing a wide spectrum of specialties Strong balance sheet enabling investments to accelerate profitable revenue growth talk space 9#10Appendix talkspace 10#11Reconciliation of Net Income to Adjusted EBITDA Adjusted EBITDA Adjusted EBITDA, which is reconciled to net income (loss) below, is a key performance measure that our management uses to assess our operating performance. Because adjusted EBITDA facilitates internal comparisons of our historical operating performance on a more consistent basis, we use this measure for business planning purposes and in evaluating acquisition opportunities. We calculate adjusted EBITDA as net income (loss) adjusted to exclude (i) interest and other expenses (income), net, (ii) tax benefit and expense, (iii) depreciation and amortization (iv) stock-based compensation expense and (v) certain non-recurring expenses, where applicable. (in thousands) Net (loss) income Add: Depreciation and amortization Financial (income), net (1) Taxes on income Stock-based compensation Non-recurring expenses Adjusted EBITDA (1) (2) $ $ Three Months Ended September 30, 2021 Unaudited (17,983) S 2022 309 (1,885) 17 3,179 900 (15,463) $ 1,505 $ 503 (26,743) 11 3,875 (20,849) $ Nine Months Ended September 30, Unaudited (61,365) $ 2021 2022 1,006 (889) 127 9,386 900 (50,835) $ (41,674) 1,458 (23,700) 29 20,584 (43,303) For the three and nine months ended September 30, 2022, financial income, net, primarily consisted of $1.6 million and $0.4 million, respectively, in gains resulting from the revaluation of warrant liabilities. For the three months ended September 30, 2021, financial income, net primarily consisted of $26.9 million in gains resulting from the revaluation of warrant liabilities. For the nine months ended September 30, 2021, financial income, net primarily consisted of $28.3 million in gains resulting from the revaluation of warrant liabilities, partially offset by $4.2 million in warrant issuance costs in connection with the Closing of the Business Combination. For the three and nine months ended September 30, 2022, non-recurring expenses consisted of $0.6 million in legal fees and $0.3 million in general and administrative expenses. talk space 11