Bakkt Results Presentation Deck

NOTES Adjusted EBITDA reconciliation - Non-GAAP bakkt Reconciliation of GAAP Net Income / (Loss) to Non-GAAP Adjusted EBITDA ($ in thousands) Nine Months Ended September 30 Net loss Add: Depreciation and amortization Add/(Less): Interest (income) expense Add/(Less): Income tax (benefit) expense EBITDA Add: Acquisition-related transaction costs Add: Unit-based compensation expense Add: Restructuring charges Add: Impairment of long- lived assets Less: Non-recurring bitcoin sale income, net Less: Transition services to Bakkt Clearing Adjusted EBITDA Three Months Ended September 30, 2021 $(28,847) 3,270 96 12 (25,469) 1,766 604 (1,024) $(24,123) 2020 $(17,971) 2,232 169 11 (15,559) 0.29 2,450 $(12,280) 2021 $189,550) 9.09.0 239 195 (80,026) 12,075 3,116 (1,024) $(65,859) 2020 $(50,016) 5,536 (255) 36 (44,699) 11,477 370 3,043 $(29,009 Year Ended December 31, 2020 $(79,605) 8,159 (123) 391 [7.178) 13,372 2,032 500 15,292 (196) $(40,040) 2019 $(32,976) 324 (3,280) (199) (36.131) 731 10.673 (145) $(24,872) 30

View entire presentation