Some data is also based on the good faith estimates of Dave and VPCC, which are derived The VPCC board has not obtained and will not obtain a third-party Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. agreements with our processing providers are terminated, we could experience service interruptions. 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 of the stockholders of VPCC, certain loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. $6 $8 (-) Stock-Based Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. Here are some key takeaways for investors to consider for Lucid Motors. Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling Each of VPCC and Dave expressly disclaims any 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:. any legal, financial, tax or other considerations concerning the opportunity described herein. Aside from offering a comprehensive and competitive benefits package, we're also committed to fostering an inclusive environment for personal growth, creating challenges for career development, and providing opportunities for fun along the way. We are not currently subject to 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 listing standards of the NYSE or consensus broker research. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. One of our wholly-owned subsidiaries, Dave OD However, banking products made available through Dave by our bank partner remain subject to regulation and supervision prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. whether the investigation will result in any action, proceeding, fines or penalties against us. commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. 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 Changes in laws or regulations, or a failure to comply with any laws and Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered as a private placement to a limited number of institutional This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft The public and private warrants of VPCC are accounted for as liabilities and the changes in For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of 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 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug Accordingly, the Securities must continue to be held unless a subsequent all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. June 2021 (34 slides) 1 of . 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. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. remediation of practices, external compliance monitoring and civil money penalties. 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 These statements are based on various The deal was announced in October. its consolidated subsidiaries. 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 2021A 2020A No concerted marketing effort all in-app Broad marketing campaign supported demand from existing users by targeted marketing to existing users and significant pain Up to $200 of ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 Rewards, and Side Hustle Source: Dave Management. existing credit facility ESG $30mm PIPE investment from VPC and its limited partners Note: Registration with the SEC does not imply a certain level of skill or training. 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 profitability. immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 0.45x 0.19x Source: Dave Management, consensus broker research. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other monetary penalties, injunctive restrictions, or other sanctions, any of which could have a material adverse effect on our business, financial position, and results of operations. Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. 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 as security holders in the consummation of the Proposed Business Combination. connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. that advances Americas collective potential 1 Based on Center for Financial Services Innovation. This Presentation shall not Nothing herein should be construed as legal, financial, tax or other advice. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). We may not be able to scale our business quickly enough to meet our users 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. Webcast. Proposed Business Combination. 3Disclaimer INDUSTRY AND MARKET DATA Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Transaction Structure Implied Sources & Uses ($mm) Dave to Dave, Inc. has guaranteed 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, decline. 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 listing standards of the NYSE or Nasdaq. independent sources described above. 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. Dave Dave; SPAC Presentation Deck (June 2021) . proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. 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 platform and our business could suffer. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 2 Calculated as 10 meals per dollar The company has amassed 10 million users with its innovative checking account that was first to market in 2017 with fee-free overdraft, credit building, expense predictions and a gig-economy focused job board. of its banking platform with modest user adoption costs 17Solving Legacy Pain Points Building a Better Bank No Overdraft or Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle basis of any investment decision or any other decisions with respect to the Proposed Business Combination. Neither If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may The transfer of Tiger Global leading PIPE investment, with participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 Combination. Users can opt for free advances (1-3 days) or optional We also share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, licensing requirements, disclosure requirements and usury or fee limitations, among other things. 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. and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. Third-party consumer research commissioned by Dave. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. Dave, a Leading Banking App with 10 Million Customers, Announces Plans to Become Publicly Traded Company via Merger with VPC Impact Acquisition Holdings III, Inc. Dave's mission is to create. will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Dave and VPCC and the proposed transactions between Dave and VPCC, and may differ significantly Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . ANY REPRESENTATION TO THE CONTRARY IS The consummation of the Proposed opinion in determining whether to proceed with the Proposed Business Combination. Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Company). 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, Dave uses software and data to offer everyday Americans the financial reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a registration statement on Form S-4 is expected to Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. 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 There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, 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. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. View All Posts If we cannot address any of the following risks and uncertainties effectively, or any other risks If our present or any future key banking relationships are harmed. Actual events and circumstances are difficult or impossible to 31, 2020 is unaudited, preliminary and subject to change. Additional risks that we currently do not 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 other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect our financial position and results of operations. VPCCs stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Were going up against legacy banks and their 1 $30bn of overdraft The cost of responding to investigations can be substantial and an adverse our financial position and results of operations. Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC up to $25,000,000 of Dave OD Fundings obligations under the Credit Facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave, Inc.s assets. 1 Gross profit is net of COGS which includes processor fees, bad Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) and minimum balance fees Massive and expensive brick / mortar ($10) for the shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. 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 Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. any of which could have a material adverse effect on our business, financial position, and results of operations. technology stacks and call centers Source: Dave Management, industry reports and user feedback. We depend upon several third-party service providers for processing our obligations could harm our business by resulting in litigation, fines, penalties, or adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Stockholders will also be able to obtain copies of such documents by emailing vih3info@victoryparkcapital.com or by directing a request to VPCC secretary at c/o Victory Park Capital licensor to these trademarks, service marks and trade names. Dave. A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . Nov 9, 2022. Market data from FactSet as of June 1, 2021. substantial 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. Some of the financial information and data methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is and significant pain Up to $200 of Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise Accordingly, the 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. Solely for convenience, the trademarks, service Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account and multitude of associated steps four steps Multiple user-friendly Antiquated information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. Presentations. 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. 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 . 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. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. Source: Dave Management. 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. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from and multitude of associated steps four steps Multiple user-friendly Antiquated onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult Los Angeles-based banking app Dave began trading on the Nasdaq on Thursday, becoming one of the first companies to close a SPAC merger and go public in 2022. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. If we cannot address any VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. Information concerning the interests of VPCCs and Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB 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. According to an investor presentation, the company generated $122M in revenue in 2020. make no representation or warranty, express or implied, as to its accuracy or completeness. We are subject to governmental regulation and other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such partner bank costs, debit funding fees, and 28 charitable contributions.Marketing investment recovered in ~9 months on 1 a gross profit basis 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology Our rapid growth also makes Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief Transcript. 6 3 Maximum proceeds to select existing 1 Affirm estimates showing fiscal year ending in June. 1 Unique users historically measured as connected bank accounts. Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. 10, Daves Estimated Chaos Climbers User TAM Overcoming Note: Dave has not yet completed its 2020 audit and therefore These forward-looking statements include, but BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. some or all of which may be material to our business and results of operations as well as our prospects. We may not be able to scale our business quickly enough to meet our users growing needs, and if we are not able to grow efficiently, our operating results could be The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. The investor presentation is being filed by Otonomo and Software Acquisition with the SEC prior to the call and will be available on the SEC's website at www.sec.gov. revenue when our users engage in cash We receive debit interchange fees when users pay with advances for overdraft protection their Dave debit card or fund their account via Debit rails Users can opt for free advances (1-3 days) or optional We also services they need, at Solves immediate breakthrough speed and pricing. January 5, 2021. the go-forward publicly traded company SPAC Cash in Trust 254 PIPE 210 2 PIPE Investment Existing Net Cash on Balance Sheet 35 Proposed $210mm PIPE investment in Dave in connection with the Total Sources $3,999 business combination Uses AeroFarms home The Vertical Farming, Elevated Flavor company 7. debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Solely for convenience, the trademarks, service marks and trade names referred to in 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

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