Bakkt SPAC Presentation Deck

Competitive Edge in an Already Disruptive Ecosystem Bakkt is competitively advantaged against peers, creating a sustainable moat Robinhood $12BN13) honey $4BN(3) Kraken $4BN(4) Found 2011 $ Cash App $38BN(¹) bakkt Source: Pitchbook (4) Source: Coindesk b stripe $36BN(3) (1) Based on sum of the parts valuation of parent company by broker research (2) Market capitalization as of January 8, 2021. venmo $20BN afterpay $25BN2) coinbase $8BN(3) chime $15BN(3) Key Bakkt Differentiators Regulated platforms across trading, clearing, custody and payments build confidence and instill trust across the ecosystem Powerful partnerships and integrations with loyalty sponsors, global financial institutions and leading retail brands Continued backing by ICE provides market credibility and industry expertise Structural exchange and payment processing cost advantages lead to defensible pricing moat against competitors; Bakkt users can trade bitcoin at a 50% cost reduction compared to Coinbase Digital asset native, unlike competitors (e.g. PayPal or Square) 16

View entire presentation