Dave Investor Presentation Deck

Legacy banks charge Americans an average of $30 Billion in Fees Annually Dave Members pay an average $300-$400 per year to their legacy banks 50% of consumers knowingly overdraft to cover short term expenses despite the high fees Dave Source: Dave Management, CFPB, industry reports and user feedback. • Costly brick-and-mortar footprints • Legacy and antiquated technology stacks and call centers • Onerous regulatory requirements (e.g., capital, interchange) → Structurally high fees for the most vulnerable customers Poor accessibility, customer service, and digital user experience Innovator's dilemma and constrained investments

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