Bakkt Digital Assets Presentation

Large and Growing Market Massive SAM(1)... ...With an "Unbounded" TAM (2) Gift Cards (3) ~$1.6tn $703bn ~$5.1tn ~26% CAGR $3tn Cryptocurrency (4) $1.4tn Gift Cards (3) $564bn Cryptocurrency (4) Loyalty Points/Miles(5) Loyalty $316bn Points/Miles (5) In-Game Assets (6) $50bn $599bn $88bn In-Game Assets (6) 2020 2025 bakkt) 5 123456 (1) (2) Serviceable Addressable Market. Dollar ($) amounts represent notional amounts, not aggregate revenue. Total Addressable Market. Dollar ($) amounts represent notional amounts, not aggregate revenue. (3) Allied Market Research. 2020 estimate based on CoinMarketCap, Global crypto market cap as of December 14, 2020. 2025 estimate based on projections from ARK Investment Management, LLC. Management estimates based on 2020-2024 data from Infiniti Research. (6) Management estimates based on relevant industry data. International Increased asset class digitization Increased retail participation Equity and fractional share trading 10 10

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