Bakkt Results Presentation Deck

NOTES Adjusted EBITDA reconciliation - Non-GAAP A $mm's Net loss Depreciation and amortization Interest income, net Income tax expense (benefit) EBITDA Acquisition-related expenses Share-based and unit-based compensation expense Cancellation of common units (Gain) loss from change in fair value of warrant liability Restructuring expenses Transition services expense Adjusted EBITDA loss Note: All financial data on this slide in unaudited. Adjusted EBITDA is a non-GAAP financial measure. 2Q23 $(50.5) 3.8 (0.7) 0.2 $(47.2) 17.0 4.4 (0.4) 0.2 1.5 $(24.5) 1Q23 $(44.9) 3.1 (1.6) 0.0 $(43.4) 0.8 7.9 1.0 4.3 0.6 $(28.9) 2Q22 $(27.6) 6.1 (0.2) (5.1) $(26.8) 0.2 7.1 (0.0) (10.3) 0.3 $(29.6) 26

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