#1talk space 2022 Second Quarter and First Half Earnings Presentation August 8, 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 Sa 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 Overcoming worry 9:41 Identify patterns Gain new insights Record thoughts Incroase awareness Improves concentration Reduces stress G 9:41 Identify thought patterns Reduce foars improve coping skills Let's Exercise: Your Emotional Calls Foundations Keep Going You're on session 4 of 5 My Series Start a new topic or revisit past sessions Start Now Foundations 5 Sessions Rooms Stave, 4 of 5 Becca, 4 of 5 Comparisons available for sessions 3 and 4 My Reminders t Emoti 13 Sessi Becca Becca hi Share Si å I understand how this would impact your mood. It's real all- O Sharon Adams H... 12:00 PM > Therapist, MS LCSW < < <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 25,2015 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#32Q 2022 Performance Highlights (1) (2) (3) USD, millions $35 $30 $25 $20 $15 $10 $5 $0 1 Revenue ¹ $31.0 $21.1 $9.9 Q2 '21 B2C B2B $29.8 $15.3 $14.6 Q2 '22 Sessions, thousands 100 75 50 25 0 B2B revenue includes post-session member payments related to MBH. Includes sessions from Employee Assistance Programs ("EAP") and Managed Behavioral Health ("MBH"). Reflects active members at the end of the period. # B2B Sessions ² 67 Q2 '21 96 Q2 '22 Members, thousands 50 40 30 20 10 B2C Active Members ³ 3 0 30 Q2 '21 20 Q2 '22 talk space 3#4Executing On Our Strategic Priorities 1 Grow B2B Business 3 Unified funnel: Growth in active users • Enhancing contractual terms with DTE clients • Self-guided soft launch : Enhance Clinical Network • Expand Independent Contractor ("ICP") network ICPs increased engagement 2 Optimize B2C Business • Increased efficiency of marketing spend • Improving unit economics CAC ✔ ARPU 4 • Improved B2B cash collection Cash Flow Break-Even • Reporting & analytics • Focus on Profitability / Streamline operations talk space 4#52Q 2022: Key Performance Metrics (1) USD, millions $35 $25 $15 $5 $26.3 $18.6 $7.7 Q3 '21 Revenue $29.2 $16.5 $12.7 Q4 '21 B2C 1 $30.2 $29.8 $17.3 $12.9 Q1 '22 B2B $15.3 $14.6 Q2 '22 USD, millions $20 $15 $10 $5 $0 Gross Profit and % Margin $14.2 53.8% Q3 '21 $16.0 54.7% Q4 '21 Gross Profit $15.0 49.8% $14.5 60% 48.7% 65% Q1 '22 Q2 '22 % Margin 55% 50% 45% 40% Revenue is presented on an as-reported basis. B2B revenue includes post-session member payments related to MBH, with the exception of 1Q'22. On a comparable basis, Q2'22 B2B revenue would have been up 6% quarter-on-quarter and B2C would have been down 7% quarter-on-quarter. talk space LO 5#62Q 2022: Key Performance Metrics (cont'd) (1) (2) USD, millions $50 $40 $30 $20 $10 $0 $39.4 $3.9 1 Operating Expenses ¹ $44.5 $10.5 Q3 '21 $36.2 $2.4 $35.5 $34.0 $33.9 $31.8 Q4 '21 SBC + Non-Recurring $35.6 $3.8 Q1 '22 Q2 '22 OpEx USD, millions ($25) ($20) ($15) ($10) ($5) ($0) Includes non-recurring severance expenses of $3.7M in 4Q'21. 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 ($20.8 ) Q3 '21 ($17.6) Q4 '21 ($18.4) Q1 '22 ($17.0) Q2 '22 talk space 6#72Q 2022 Key Operating Metrics: B2B (1) (2) USD, millions $15 $10 $5 Revenue by Customer Type $0 $7.7 $3.2 $4.5 $12.7 $12.9 $7.3 $7.2 $5.4 $5.7 Q3 '21 Q4 '21 Q1 '22 MBH & EAP ☐ DTE 1,2 $14.6 $7.9 $6.7 Q2 '22 Sessions, thousands 100 75 50 25 0 71.3 B2B Sessions 81.6 Q3 '21 Q4 '21 90.6 96.0 Q1 '22 Q2 '22 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. On a comparable basis, Q2'22 B2B revenue would have been up 6% quarter-on-quarter. Enterprise customers. 250 200 150 100 50 0 # DTE Accounts 139 Q3 '21 158 Q4 '21 189 Q1 '22 205 Q2 '22 talk space 7#82Q 2022 Key Operating Metrics: B2C USD, millions $20 $18.6 $15 $10 (1) (2) (3) $5 $0 Revenue $16.5 1,2 $17.3 $15.3 Q3 '21 Q4 '21 Q1 '22 Q2 '22 Users, thousands 30 28.0 20 10 0 Q3 '21 Active Members ³ 23.8 Q4 '21 22.2 20.1 Q1' 22 Q2 '22 Revenue is presented on an as-reported basis. B2C revenue does not include post-session member payments, with the exception of 1Q'22. On a comparable basis, Q2'22 B2C revenue would have been down 7% quarter-on-quarter. Reflects active members at the end of the period. % Change QoQ Q3 '21 Advertising Spend Q4 '21 (15%) Q1 '22 (19%) Q2 '22 (23%) 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 revenue growth & boost cash flow talk space 9#10Appendix talkspace 10#11Reconciliation of Net Income to Adjusted EBITDA Adjusted EBITDA Adjusted EBITDA, which is reconciled to net income 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 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 Add: Depreciation and amortization Financial expense, net (1) Taxes on income Three months ended June 30, Stock-based compensation Adjusted EBITDA 2022 ($23,022) 2021 ($30,441) 493 2,870 10 Six Months Ended June 30, 2022 ($43,382) 2021 ($43,179) 268 697 1,865 996 89 110 3,839 6,207 15,196 ($11,872) ($16,961) ($35,372) For the three and six months ended June 30, 2022, financial expense, net, primarily consisted of $2.1 million and $1.2 million, respectively, in losses resulting from the revaluation of warrant liabilities. For the three months ended June 30, 2021, financial expense, net, primarily consisted of $4.0 million in warrant issuance costs related to the closure of the Business Combination, partially offset by $1.4 million in gains resulting from the revaluation of warrant liabilities. For the six months ended June 30, 2021, financial expense, net, primarily consisted of $4.0 million in warrant issuance costs related to the closure of the Business Combination, partially offset by $1.2 million in gains resulting from the revaluation of warrant liabilities. 955 3,043 18 16,709 ($22,454) talk space 11