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Fraudulent and 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 VPCCs sponsor, directors 0.45x 0.19x Source: Dave Management, consensus broker research. Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro Forma Cash 1 87% Existing Dave Shareholders be filed by VPCC with the SEC. FinTech Dave Inc. merged with the publicly traded special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III Inc. and will go public on Nasdaq on or about on Thursday (Jan.. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. The PIPE is at $210M with Tiger, Wellington, and Corbin all . 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from 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 We are a biotherapeutics company built for consumer engagement. overdraft fees saved management skills Source: Dave Management. 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. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. 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. 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. 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 information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. 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 amendments thereto and the definitive proxy statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Business Combination, as these materials will contain important information about VPCC, Dave, and the completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. In addition, this Presentation does not purport to be all inclusive or to contain Combination) and for no other purpose. To $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 Sponsor Shares Implied Enterpise Value $3,563 1% 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 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 financing, and not for any other purpose. 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. Changes in laws or regulations, or a failure to 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 Source: Dave Management. obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. Each of VPCC and Dave expressly disclaims any If we are unable to acquire new customers and retain our current customers Note: Dave has not yet completed its 2020 audit and therefore all financial Investors want to invest in big opportunities with large addressable markets. reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public notifications regarding violations, limits on activities or functions, The VPCC board has not obtained and will not obtain a third-party valuation or financial Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of 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 commitment and belief in business Net Cash on Valuation: The SPAC deal values Lucid Motors at $11.75 billion. received a Civil Investigative Demand (the CID) from the U.S. Bureau of Consumer Financial Protection (the CFPB), the stated purpose of which is to determine whether there is or has been a violation of any laws enforced afford a one-time $400 emergencyDaves Estimated Chaos Climbers User TAM Overcoming daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People 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 Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. fueling marketing spend 21Instant access to high-impact, low-CAC products More users and more data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. licensor to these trademarks, service marks and trade names. 34. We are not currently subject to all of the regulations applicable to traditional banks. VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and 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. financial measures determined in accordance with GAAP. 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. PCAOB standards. The risks described below The list below is qualified in its entirety by disclosures contained in future documents filed or 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 $6 $8 (-) Stock-Based Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. As defined by the US Securities and Exchange Commission, a SPAC is a company with no operations that offers securities for cash and places substantially all the offering proceeds into a trust or escrow account for future use in the acquisition of one or more private operating companies. A PIPE of $210 million was led by Tiger. 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) new laws or regulations in many jurisdictions, including the U.S. 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 merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be the go-forward publicly traded company SPAC Cash in Trust 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 opportunity described herein. SPAC. January 5, 2021. 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% Fraudulent and 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 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 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 You should consult your own advisers concerning These forward-looking statements are provided for illustrative Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 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 and liabilities to Dave or inhibit sales of our products. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers To the fullest extent permitted by law, in no 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. Investor Presentation 1 Dave users have taken over 30mm of overdraft 333-252577), which was filed with the SEC on March 8, 2021. of VPCCs stockholders in connection with the Proposed Business Combination. 34 slides. 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. 12/21. Actual events and circumstances are difficult or impossible to These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. financial information contained in this 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. 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 trademarks, service marks, trade names 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. that advances Americas collective potential 1 Based on Center for Financial Services Innovation. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. Information concerning the interests of VPCCs and The issuance of shares of the Combined Companys securities in connection with the Private Placement will substantially dilute the voting power of the Combined Companys stockholders. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. The financial services industry continues to be targeted by involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 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