dave spac investor presentation

Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated technology stacks and call centers Source: Dave Management, industry reports and Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. measures. completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. 10Average fees paid per year by Dave customers to legacy banks Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) 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 transactions between Dave and VPCC. In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . Investor Relations. 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. If you hold public warrants of VPCC, VPCC may, in accordance with their terms, redeem your unexpired VPCC warrants prior to their exercise at a time that is disadvantageous to you. See Forward-Looking Statements paragraph above. May tap into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- The assumptions and estimates underlying such projected Information concerning the interests of VPCCs and 25Service Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs 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 cause actual results to differ materially from Solely for convenience, the trademarks, service Proposed Business Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. Legal Disclaimers 3 Important Information For Investors and Shareholders; Participants in Solicitation In connection with the proposed business combination, Spartan will be required to file a registration statement (which will include a proxy statement/prospectus of Spartan) and other relevant documents with the Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Webcast. statements above. Charity 2 1 Donated Avoided Jobs Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. We transfer funds to our users daily, which in the aggregate comprise substantial Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such Archived Events & Presentations. 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial $6 $8 (-) Stock-Based Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. The public and private warrants of VPCC are accounted for as liabilities and the changes in Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. Evolve Bank & Trust, Member FDIC, holds all deposits and issues . 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). KBW Fintech Payments Conference. 2022E 2023E Total Revenue $17 $76 $122 $193 $377 $533 % Growth -- 340% 60% 59% 95% 41% 1 Gross Profit $8 $43 $75 $111 $223 $329 % Margin 45% 56% 62% 57% 59% 62% Operating Expenses (ex. all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of combined business. Following the Any and liabilities to Dave or inhibit sales of our products. Transforming stability into long-term progress by achieving major financial milestones. LOS ANGELES, March 02, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (the "Company") (Nasdaq: DAVE, DAVEW), one of the leading U.S. neobanks on a mission to build products that level the financial playing field, today announced that the Company will participate in three upcoming investor conferences in March 2023:. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 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. 1 18 Based on third-party consumer research commissioned by Dave. 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 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity before interest, tax and depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Economic, political and other conditions may adversely affect trends in consumer spending. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in from their respective reviews of internal sources as well as the independent sources described above. Investor Presentation. 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. If any of these risks materialize or VPCCs or Daves assumptions and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. 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. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, Allows users to confidently track First neobank to help Quarterly Report on Form 10-Q for the three months ended March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors its consolidated subsidiaries. document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other investment decision in respect of the Business Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in If the Proposed Business 1 Gross profit is net of COGS which includes processor fees, bad . the use of our platform and other products and services could decline. not be able to continue to operate our business as it is currently operated. 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. additional tool for investors to 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. 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 Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business Solving Legacy Pain Points Building a Better Bank No Overdraft or For example, in May 2020, we & 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 of the stockholders of VPCC, certain regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. Management does not consider these non-GAAP measures in isolation or as an alternative to LOS ANGELES, March 02, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (the "Company") (Nasdaq: DAVE, DAVEW), one of the leading U.S. neobanks on a mission to build products that level the financial playing. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or 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 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven 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, financial condition and results of that may be instituted against VPCC and Dave following the announcement of the Merger Agreement and the transactions contemplated therein; (iii) the inability to complete the Proposed Business Combination, including due to failure to obtain approval 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed Investor Presentation The use or display of third parties registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy You should review the investors presentation and perform your own due diligence prior to making an investment in If any of our 333-252577), which was filed with the SEC on March 8, 2021. 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% Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be Valuation: The SPAC deal values Lucid Motors at $11.75 billion. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting

5 Interesting Facts About Saint Francis Of Assisi, Articles D