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 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. If any of these risks materialize or VPCCs or Daves assumptions opinion in determining whether to proceed with the Proposed Business Combination. 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 use or display of third parties trademarks, service marks, trade names not be able to continue to operate our business as it is currently operated. risk control mechanisms may not prevent all fraudulent or illegal activity. For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may other similar epidemics or adverse public health developments, including government responses to such events. 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. If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall 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 These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. Many actual events and circumstances are beyond the control of Dave and VPCC. One of our wholly-owned subsidiaries, Dave OD 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 Dave to Participate at Upcoming Investor Conferences Our 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. 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. 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 Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based Stockholders will also be able to obtain copies of such documents by emailing [email protected] or by directing a request to VPCC secretary at c/o Victory Park Capital Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. If the Proposed Business Combinations benefits do not meet the expectations of investors or securities analysts, the market price of our securities or, following the consummation of the Proposed Business Combination, the Combined Economic, political and other conditions may adversely affect trends in consumer spending. competition, the ability of Dave to grow and manage growth profitably, and retain its key employees; (ix) costs related to the Proposed Business Combination; (x) changes in applicable laws or regulations; (xi) the possibility that Dave, or VPCC may We transfer funds to our users daily, which in the aggregate comprise substantial 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. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. disposition is exempt from the registration requirements of the Securities Act. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief make no representation or warranty, express or implied, as to its accuracy or completeness. Proposed Business Combination. generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not PROPOSED BUSINESS COMBINATION VPCCs directors and officers have potential conflicts of interest in recommending that VPCCs stockholders vote in favor of the adoption of the merger agreement relating to the Proposed Business Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. We are cooperating with the CFPB, including producing documents and Investors want to invest in big opportunities with large addressable markets. The company has attracted institutional investors. Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22, Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin Presentations. These forward-looking statements are subject to a number of risks and uncertainties, In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Mark Cuban-Backed Personal Finance App Dave to Go Public in $4 - WSJ 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. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such SPAC. views as of the date of this Presentation. These statements are based on various 12/21. 7. Mark Cuban-backed banking app Dave going public via $4 billion SPAC - CNBC 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 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 Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 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 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 banks Source: Dave Management. The PIPE is at $210M with Tiger, Wellington, and Corbin all . Combinations benefits do not meet the expectations of investors or securities analysts, the market price of our securities or, following the consummation of the Proposed Business Combination, the Combined Companys Securities, may Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in If our present or any future key banking relationships are There is no guarantee that a stockholders decision whether to redeem its shares for a pro rata portion of the trust account will put the stockholder in a better future economic position. 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. Events & Presentations :: MoneyLion Inc. (ML) Combination. 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. Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. as security holders in the consummation of the Proposed Business Combination. 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 licensing requirements, disclosure requirements and usury or fee 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / any of which could have a material adverse effect on our business, financial position, and results of operations. their legacy bank. The VPCC board has not obtained and will not obtain a third-party valuation or financial Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation Premium Home Healthcare A company selling a smart sock for babies is going public in a $1.1 billion SPAC deal. Additionally, all information in Daves Any We are not currently subject to all of the regulations applicable to traditional banks. Any offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered Q2 2022 Earnings Supplement 510.8 KB. Transcript. Aurora Investor Presentation - February 2023 . NO OFFER OR SOLICITATION This 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. 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting transactions between Dave and VPCC. Investor Relations. PDF I N V E S T O R P R E S E N T A T I O N - Sunlight Financial 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. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are 0.45x 0.19x Source: Dave Management, consensus broker research. dated March 4, 2021 (SEC File No. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business 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.