Bakkt Digital Assets Presentation

Powerful Flywheel Effect ☐ ☐ Loyalty Sponsor Value Proposition Increased program engagement and new engagement opportunities More redemption options for customers at a lower cost to partners Loyalty liability optimization Regulatory compliance backed by ICE Access to entire ecosystem with a single integration bakkt Single integration for a universal wallet bakkt Consumer Value Proposition ■ ■ ■ Unlock value of captive assets Digital asset aggregation and increased spending power Instant liquidity Exclusive deals Significantly lower transaction fees relative to interchange fees Driving e-commerce growth through increased conversion ☐ New customer reach and increased engagement ■ Decreased loyalty liabilities through expanded redemption options Merchant Value Proposition 22 22

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