#1talk space Fourth Quarter 2021 Earnings Presentation February 22, 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 BB 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 9:41 Incroase awareness Improves concentration Reduces stress Rooms t al- all- O Sharon Adams H... 12:00 PM > Therapist, MS LCSW I understand how this would impact your mood. It's real <4) 9:41 < 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, 2016 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 press release 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," "estimate," "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 press release, 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; 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 Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 filed with the Securities and Exchange Commission ("SEC") on November 15, 2021 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. The financial results reported in this presentation are unaudited and subject to change as additional information becomes available pending completion of the audit. 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. talk space 2#32021 Full Year Performance Highlights USD, millions $125 $100 $75 $50 $25 $0 $38 $35 2019 Revenue ¹ $76 $15 $62 2020 B2B B2C $114 (1) (2) (3) Reflects active members at the end of the period. $39 $75 2021 B2B Revenue includes reserve allowance for credit losses on receivables. Includes EAP and MBH sessions. Sessions, thousands 300 200 100 0 2 # B2B Sessions ² 20 2019 115 2020 274 2021 Members, thousands 40 30 20 10 B2C Active Members ³ 3 0 20 2019 30 2020 24 2021 talk space 3#44Q 2021 Performance Highlights USD, millions $35 $30 $25 $20 $15 $10 $5 $0 Revenue ¹ $26.3 $7.7 $18.6 Q3 '21 B2B B2C $29.2 (1) (2) (3) Reflects active members at the end of the period. $12.7 $16.5 Q4 '21 B2B Revenue includes reserve allowance for credit losses on receivables. Includes EAP and MBH sessions. Sessions, thousands 100 75 50 25 0 # B2B Sessions ² 71 Q3 '21 82 Q4 '21 Members, thousands 35 30 25 20 15 10 5 B2C Active Members ³ 3 0 28 Q3 '21 24 Q4'21 talk space 4#5Executing On Our Strategic Priorities Strategic Priorities Unify B2B2C conversion and service delivery Grow and enhance clinical network Further resource B2B business for growth Optimize B2C marketing investment Expand product suite to drive accretive growth Optimize cash generation over time Progress since 3Q '21 Call Adjusting funnel to optimize B2B2C conversion Launched Superbills Increasing multi-state therapists licensing Intensified recruiting activity in high-need states Redesigned providers' compensation & provider dashboards Salesforce and BDR expanded Increased B2B marketing budget Growing customer base across all channels Decreasing media spend Seeing early stabilization in major metrics (Retention; conversion; refunds & discounts) Adding bundled offerings Initial live video session to optimize therapist-patient fit Enhanced self-help content and user interface Implemented new billing/claims management system ● Pricing committee talk space LO 5#62021 Q4: Key Performance Metrics (1) USD, millions $35 $30 $25 $20 $15 $10 $5 $0 $26.3 $7.7 $18.6 Q3 '21 1 Revenue ¹ B2B B2C $29.2 $12.7 $16.5 Q4 '21 B2B Revenue and Gross Profit include change in revenue reserves related to prior periods of ($2.4)M and +$0.8M in 3Q and 4Q, respectively. USD, millions $20 $15 $10 $5 $0 1 Gross Profit and % Margin ¹ $14.2 53.8% Q3 '21 Gross Profit $16.0 54.7% Q4 '21 % Margin 60% 58% 56% 54% 52% 50% talk space 6#72021 Q4: Key Performance Metrics (cont'd) (1) (2) USD, millions $50 $40 $30 $20 $10 $0 Operating Expenses $39.4 $3.9¹ $35.5 Q3 '21 SBC and Non-recurring $44.5 $10.5¹ $34.0 Q4 '21 Operating expense Includes stock-based compensation of $3.9M in Q3'21 and $6.8M in Q4'21, and non-recurring expenses of $3.7M in Q4'21. Excludes $1.5M non-recurring cash expenses incurred in 4Q '21. USD, millions $300 $200 $100 $0 $248 Q2 '21 Cash Balance $223 Q3 '21 $200² $198 Q4 '21 talk space 7#82021 Key Operating Metrics: B2B (1) (2) USD, millions $15 $10 $5 1 Revenue by Customer Type $0 $7.7 $3.2 $4.5 Q3 '21 MBH & EAP $12.7 $7.3 $5.4 Q4 '21 DTE Lives, millions 80.0 60.0 40.0 20.0 Includes change in reserves related to prior periods of ($2.4)M and +$0.8M in 3Q and 4Q, respectively. Consistent with the number of eligible lives disclosed in the form 8-K filed on December 21, 2021. 0.0 2 B2B Eligible Lives² 56.6 Q3 '21 69.0 Q4 '21 Enterprise customers. 200 150 100 50 # DTE Accounts 139 Q3 '21 158 Q4 '21 talk space 8#92021 Key Operating Metrics: B2C (1) USD, millions $20 $15 $10 $5 $0 Revenue $18.6 Q3 '21 $16.5 Q4 '21 Based on the number of active members at the end of the period. (12%) Users, thousands 30 20 10 0 Active Members¹ 28.0 Q3 '21 23.8 Q4 '21 (15%) % Change QoQ Advertising Spend Q3 '21 Q4 '21 (15%) talk space 9#10Closing 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 revenue growth & boost cash flow talkspace 10