Bakkt Results Presentation Deck

OUTLOOK Outlook expectations A 2022 guidance • Expect to be at low end of range for revenue due to prolonged disruptions to travel volumes • Cash usage within range excluding one-time accelerated cash payment of $9.2mm • We are implementing a restructuring plan as we further focus our business in 4Q; will recognize associated restructuring charge 1 Assumes full year impact on operating margin 2 Excludes deal costs Preliminary 2023 outlook • Cash usage expected to decline due to increased revenue in 2023, completion of large-dollar investments in 2022 and benefits from the 4Q restructuring related to further focusing the business ● ● ● Expect operating margin expansion in 2023 due to Apex Crypto acquisition of at least 20%¹ Revenue growth will accelerate from Apex Crypto and expected ramp-up in crypto partner activations Expect acquisition and restructuring to result in free cash flow of ~$80mm through 2025¹, 2 24

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