Bakkt, Inc.

The Company’s business and affairs is managed under the direction of our Board. Our Board consists of six directors, five of whom are independent, as defined by the NYSE listing standards. Our Board is divided into three classes with staggered three-year terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms.

The Nominating and Corporate Governance Committee (the “Nominating Committee”) of the Board annually considers the size, composition and needs of the Board and, as appropriate, recommends the nominees for directors to the Board for approval. The Nominating Committee considers and evaluates suggestions from many sources regarding possible candidates for directors. Below are general criteria for the evaluation of current and proposed directors:

•The highest ethical character and shared values with our Code of Business Conduct and Ethics;

•Reputation, both personal and professional, consistent with our image and reputation;

•Accomplishment within candidate’s field, with superior credentials and recognition;

•Relevant expertise and experience and the ability to offer advice and guidance to the Chief Executive Officer based on such expertise and experience;

•Independence, without the appearance of any conflict in serving as a Director, and independence of any particular constituency with the ability to represent all stockholders; and

•Ability to exercise sound business judgment.

The Nominating Committee considers the mix of skills and experience among current and prospective directors with a goal of assembling a Board with complementary skills for the benefit of the Company. Listed below are selected key contributions of each current Board member. The table is not intended to be an exhaustive summary of all the contributions of each Board member.