Bakkt Results Presentation Deck

3Q23 Crypto services revenue and related costs 3Q23 results include Apex Crypto, which we acquired on April 1, 2023. In accordance with GAAP, we are presenting our crypto services revenue and crypto costs and execution, clearing and brokerage fees on a gross basis Crypto services revenue Gross revenue of $191.8mm was impacted by lower industry wide volumes and lower activity levels from Webull Pay customers ● Crypto costs and execution, clearing and brokerage fees Crypto costs and execution, clearing and brokerage fees of $190.1mm in line with revenue levels Includes impact of adjustment to revenue share agreement with Webull Pay Note: All financial data on this slide is unaudited. Bar chart not fit to scale. CRYPTO SERVICES REVENUES AND RELATED COSTS ($MM) $0.5 $0.4 $0.3 $0.3 3Q22 4Q22 Crypto services gross revenue $0.4 $0.4 $335.3 | $334.0 2023 $191.8 $190.1 1023 3Q23 Crypto costs and execution, clearing and brokerage fees 17

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