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34. other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such obligations could harm our business by resulting in litigation, fines, penalties, or should make such other investigations as they deem necessary. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial notifications sent Highlights focus on community- to users to prevent overspending based On your "Market Opportunity" slide you want to: Set forth . The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often Source: Dave Management. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial necessary to continue providing our users with new and innovative products and services, the use of our platform and other products and services could decline. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE The assumptions and estimates underlying such projected financial information are inherently uncertain Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. We operate in an uncertain regulatory environment and may from 20, Instant access to high-impact, low-CAC products More users and more RELATED TO THE PROPOSED BUSINESS COMBINATION VPCCs directors and officers have potential conflicts of interest in recommending that VPCCs stockholders vote in favor of the adoption of the merger agreement relating to the See Virgin Galactic's Fall 2019 Investor Presentation. Actual events and circumstances are difficult or impossible to Transcript. These statements are based on various its entirety by disclosures contained in future documents filed or furnished by Dave and VPCC, with the U.S. Securities and Exchange Commission (the SEC), including the documents filed or furnished in connection with the proposed Combined Company). PDF Bigbear.ai to Become Publicly Traded Company Via Merger With Gigcapital4 target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. licensor to these trademarks, service marks and trade names. connection with the operation of their respective businesses. operations as a result of the announcement and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, Investor Relations. information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. NO REPRESENTATION OR WARRANTY No representations or warranties, Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of VPCCs stockholders in Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. SPACs explained | Fidelity AeroFarms home The Vertical Farming, Elevated Flavor company Nov 9, 2022. Failure by us, or any of our business partners, to comply with applicable laws and regulations could have a material adverse effect on our business, financial position and results of operations. Investor Resources. existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. growth profitably, and retain its key employees; (ix) costs related to the Proposed Business Combination; (x) changes in applicable laws or regulations; (xi) the possibility that Dave, or VPCC may be adversely affected by other economic, business, notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in Amid all the news of the last few days, you might have missed that eToro, an Israeli consumer stock-trading service, is going public in the United States via a SPAC.. Don't worry about the SPAC . Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . assumptions, whether or not identified in this Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. Source: Dave Management. If any of these risks materialize or VPCCs or Daves assumptions 9 Key Takeaways From The Lucid Motors SPAC Merger Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. We may never achieve or sustain profitability. The combination between Victory Park Capital's blank-check company and the banking app Dave is expected to be complete by the third or fourth quarter. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. circumstances will VPCC, Dave or any of their respective subsidiaries, shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or forward-looking statements. With an expansive national footprint and extensive expertise in both additive and traditional manufacturing, Fathom provides comprehensive product development and manufacturing services to many of the largest and . The assumptions and estimates underlying such projected Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to by a substantial number of our users to repay funds they receive through the use of our overdraft protection product would harm our business and financial results. PCAOB standards. Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability The interests of the sponsor. Payoneer - Investor Relations Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended sums, and are subject to the risk of errors, which could result in financial losses, damage to our reputation, or loss of trust in our brand, which would harm our business and financial results. of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Dave Other Neobank Incumbent User Journey User Journey Bank User 06/21. VPCCs sponsor, directors time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Daves financial statements. Evolve Bank & Trust, Member FDIC, holds all deposits and issues . The Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the investment decision in respect of the Business Combination. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. There can be no assurance that the Combined Companys common stock will be approved for listing on the NYSE or Nasdaq or that the Combined Company will be able to comply with the continued Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based USE OF PROJECTIONS This Presentation contains projected financial information. 31, 2020 is unaudited, preliminary and subject to change. Has Allowed for User Positioned for Rapid Scaling 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k It caters to users who are entering the financial system and may have multiple jobs; its job-finding marketplace Side Hustle is part of its approach to reach this market. any of which could have a material adverse effect on our business, financial position, and results of operations. Neobanks: $75-100 10M Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. BigBear.ai Investor Presentation - GigCapital its consolidated subsidiaries. into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Investors should be aware that they might be required to bear the final risk of To the extent that our products are deemed to be subject to any such laws, we could be subject to additional compliance obligations, including state licensing requirements, disclosure requirements and usury or fee which any statement is based, except as required by law. 53.1% 22.7% 30.4% 31.2% 37.0% 37.6% 45.6% 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x Viewers of this Presentation should each make their own evaluation of transactions. After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be established for voting on the Proposed Business & Tech spending patterns; limits Learning to deliver fast and technology stack user offering inexpensive solutions #1 favorable opinion of ~20pp behind Dave in user Negative NPS scores for 4 Beloved 1 1 consumer finance apps satisfaction large Ex-99.2 - Sec states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. as security holders in the consummation of the Proposed Business Combination. The use or display of third parties If you hold public warrants of The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. adversely affected. What Are SPACs and Should I Care? | Morningstar to download to deposit for navigate financial offerings advance product Deep understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may not be able to continue to operate our business as it is currently operated. We Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September Katapult Transaction. Nothing herein should be construed as legal, financial, tax or other advice. The Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the vote by VPCCs stockholders in connection in VPCCs final prospectus dated March 4, 2021 (SEC File No. rights or the right of the applicable licensor to these trademarks, service marks and trade names. be adversely affected by other economic, business, and/or competitive factors (xii) and those factors discussed in VPCCs final prospectus filed with the SEC on March 8, 2021 under the heading Risk Factors and VPCCs SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Presentation does not purport to be all inclusive or to contain all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of The PIPE is at $210M with Tiger, Wellington, and Corbin all . includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties, including many that are outside of VPCCs or Daves control, that could unaudited, preliminary and subject to change. PDF 'LVFODLPHU - Cantor Fitzgerald Such persons can Q3 2022 Earnings Presentation. 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% 53.1% 22.7% 30.4% 31.2% 37.0% 37.6% 45.6% differences may be material. $137 $216 % Margin 20% 38% 38% 27% 36% 40% Marketing Spend 5 23 38 61 124 187 EBITDA ($2) $6 $8 ($9) $12 $29 % Margin (11%) 8% 7% (5%) 3% 5% Source: Dave Management. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % Third-party consumer research commissioned by Dave.