Bakkt Results Presentation Deck

FINANCIAL RESULTS Operating expense Compensation expense increased by $9.6mm or 76% YoY due primarily to increases in headcount to support business growth o SG&A¹ increased by $2.8mm or 167% YOY primarily due to an increase of $2.6mm in marketing expenses related to the launch of the consumer platform o Other expenses increased YoY primarily due to merger related costs o YTD merger-related costs were $12.1mm bakkt ¹ Selling, general and administrative expense $24.3 $10 $2 $13 3Q20 $38.2 $21 Expense ($mm) $5 $13 4Q20 Compensation $36.6 $15 $6 $15 1Q21 SG&A $39.8 $11 $20 2Q21 ■ Other $39.0 $12 $4 $22 3Q21 20

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