Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data & Tech spending patterns; limits Learning to deliver fast and technology Forma Cash 1 87% Existing Dave Shareholders $389mm of net cash held on the pro forma balance sheet Capitalization PIPE Shareholders Implied Market Capitalization $3,951 SPAC Shareholders 5% 2 (-) Net Cash on Balance Sheet (389) 6% SPAC RISKS RELATED TO THE PRIVATE PLACEMENT If any of our agreements with our processing providers are terminated, we could experience service interruptions. RISKS RELATED TO THE use in evaluating projected operating results and trends in and in comparing Daves financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Dave - SPAC Presentation Deck. services they need, at Solves immediate breakthrough speed and pricing. Access the audio replay here. Some of the Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed Business Combination may not 1 Gross profit is net of COGS which Transaction Structure Implied Sources & Uses ($mm) Dave to 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 If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from additional CAC High-impact products significantly revenue-generative even before cross-attach, fueling marketing spend 21, Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash 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 comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. 02/28/2023 11:00 AM ET. We may never achieve or sustain 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 transactions between Dave and VPCC. Webcast. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE vote by VPCCs stockholders in connection with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Dave Other Neobank Incumbent User Journey User Journey Bank User Following the consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, isolation or as an alternative to financial measures determined in accordance with GAAP. Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. The risks presented in such filings Even if VPCC consummates the business combination, there can be no assurance that VPCCs public warrants will be in the money during their exercise period, and they may expire worthless. 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. 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 To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) RISKS We may not be able to scale our business quickly enough to meet our users included in the proxy statement/prospectus contained in the registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% The public and private warrants of VPCC are accounted for as We may never achieve or sustain profitability. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may as a private placement to a limited number of institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products 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 Q1 2022 Earnings Supplement 562.6 KB. 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 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. unaudited, preliminary and subject to change. RISKS RELATED TO THE PRIVATE PLACEMENT There can be no assurance that VIH III will be able to raise sufficient capital in the Private Placement to consummate the Proposed Business Combination or for use by the combined company following the Proposed Business Combination (the Combined obtain and process a large amount of sensitive data and any real or perceived improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand, as well as have a material adverse effect on our valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling forward-looking statements. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. Management does not consider these non-GAAP measures in isolation or as an alternative to providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. costly litigation, and could adversely affect our reputation and operating revenues. BigBear.ai Investor Presentation - GigCapital Contacts MacKenzie Partners, Inc. 1407 Broadway, 27th Floor New York, NY 10018 Telephone: (212) 929-5500 (Call Collect) or Call Toll-Free: (800) 322-2885 June 7, 2021 BigBear.ai Investor Presentation with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the completion of the Proposed Business Combination. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B However, banking products made available through Dave by our bank partner remain subject to regulation and supervision 1Q22 Shareholder Letter 9.1 MB. remediation of practices, external compliance monitoring and civil money penalties. Investor Resources. On December 18, 2020, FinServ Acquisition Corp. and Katapult Holdings, Inc. jointly announced that they have entered into a definitive merger agreement valued at approximately $1 billion. 1 Affirm estimates showing fiscal year ending in June. Momentus Investor Presentation - Powering In-Space Transportation We are a biotherapeutics company built for consumer engagement. 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 0.45x 0.19x Source: Dave Management, 2Disclaimer This presentation (together with oral statements made in connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics Archived Events & Presentations. consensus broker research. Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. A CRIMINAL OFFENSE. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. decline. The public and private warrants of VPCC are accounted for as liabilities and the changes in Powered by a global private aviation marketplace connecting its growing base of approximately 13,000 members and customers to a network of more than 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. 45% 56% 62% 57% 59% 62% Service Revenue $533 $329 189 $377 CAGR: 98% $223 CAGR: 116 112% $193 $111 22 344 $122 262 $75 $76 171 $43 121 $17 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven Daves participants in the solicitation, which may, in some cases, be different than those of VPCCs and Daves equity holders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. Some data is also based on the good faith estimates of Dave and VPCC, which are derived
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