Dave Announces Pricing of $175 Million 0% Convertible Notes

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• Dave intends to use the net proceeds from the offering (i) to fund the approximate $15.1 million cost of the capped call transactions, (ii) to repurchase approximately 334,000 shares of common stock using approximately $70.5 million, and (iii) for general corporate purposes, including additional share repurchases

  80% confidence

• Dave serves millions of everyday Americans and uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents

  80% confidence

• The offering is expected to close on March 9, 2026, subject to customary closing conditions

  80% confidence

• Dave estimates that the net proceeds from the offering will be approximately $168.0 million (or approximately $192.1 million if the initial purchasers exercise in full their option to purchase additional notes), after deducting initial purchasers' discounts and estimated offering expenses

  80% confidence

• The capped call transactions are expected generally to reduce potential dilution to the common stock upon conversion of the notes and/or offset any cash payments that Dave could be required to make in excess of the principal amount of any converted notes upon conversion thereof

  80% confidence

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