Bakkt Results Presentation Deck

FINANCIAL RESULTS 4Q22 Condensed balance sheet Strong balance sheet with $239.4mm of available cash, cash equivalents and available-for-sale securities • 4Q22 Non-cash goodwill and intangible assets impairments charge of $271.9mm in accordance with GAAP • Cash usage of $34.3mm in 4Q22 Capex spend of $8.0mm Severance and other one-time cash payments to employees of $1.2mm ● ● ● Cash usage of $152.0mm in FY22 Capex spend of $30.5mm Includes an accelerated one-time $9.2mm cash payment to facilitate migration to a new purchasing card facility ● ● $mm's Assets Cash & cash equivalents Available-for-sale securities Other current assets Total current assets Goodwill Intangible assets, net Other assets Total assets Liabilities and stockholders' equity Current liabilities Noncurrent liabilities Total liabilities Total stockholders' equity Noncontrolling interest Total equity Total liabilities and stockholders' equity As of 12/31/22 (unaudited) $98.3 141.1 87.1 $326.5 18.3 55.8 57.4 $458.0 $92.1 27.3 $119.4 97.0 241.5 338.6 $458.0 As of 12/31/21 $391.4 72.2 $463.5 1,527.1 388.5 35.2 $2,414.3 $73.6 46.5 $120.1 468.4 1,825.8 2,294.2 $2,414.3 Note: All financial data on this slide is unaudited. Cash usage is calculated using changes in cash & cash equivalents and available-for-sale securities balances from the GAAP balance sheet over a specified time period. Fourth quarter 2022 cash usage of $34.3mm is calculated by adding the change in available cash & cash equivalents from 9/30/22 to 12/31/22 of ($61.5mm) with the change in available-for-sale securities from 9/30/22 to 12/31/22 of $27.2mm. Full year 2022 cash usage of $152.0mm is calculated by adding the change in available cash & cash equivalents from 12/31/21 to 12/31/22 of ($293.0mm) with the change in available-for-sale securities from 12/31/21 to 12/31/22 of $141.1mm. Available-for-sale securities are added to the cash balance when calculating cash usage given their short-term maturity and liquidity. 20

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