Company: GDOT
Filing Date: 2025-11-24
Form Type: 425
Source: 0001140361-25-043029
Chunk: 23

Company: GREEN DOT CORP
Filing Date: 2025-11-24
Form: 425
Chunk 23
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) Implied aggregate value and implied value per share based on $470mm in cash ($8.11 per share) plus GDOT share of combined BankCo assuming an illustrative multiple range of 1.00x (tangible book value) – 1.81x (median of selected peers) applied to ~$490mm of combined tangible book value, at 72.2% pro forma ownership, and fully diluted shares outstanding of 57.972mm, net of estimated tax leakage. Selected peers include TBBK, CASH, CCB, AX, FINW, MFIN, and MVBF. 1 Transaction Unlocks Significant Value for Shareholders Realize significant up-front value for embedded finance assets while providing upside potential via participation in bank sponsorship platform Creates a more stable and resilient bank with strengthened capital levels, diversified funding, multiple growth drivers, and durable returns Ability to participate in significant growth of Embedded Finance OpCo via attractive structure delivering $30mm+ of recurring annual fees Capital infusion unlocks incremental capacity to reposition balance sheet and increase investments in risk & compliance infrastructure 1 2 3 4 5 6 Note: (1) Reflects implied value of ~$35mm in illustrative annual earnings uplift via potential asset re-deployment, and a ~10x P/E multiple (median of selected peers). Green Dot Corporation Line of sight to sustainable long-term growth driven by highly efficient platform expansion and $350mm+ of potential incremental value(1) Green Dot Corporation Potential for Significant Value Creation Opportunity 7 Source: Factset, Public filings, and SNL financial. Market data as of November 21, 2025. Financial metrics reflect combined estimated post-transaction values as of June 30, 2026, estimated close for illustrative purposes only. Note: (1) Implied aggregate value and implied value per share based on $470mm in cash ($8.11 per share) plus GDOT share of combined BankCo assuming an illustrative multiple range of 1.00x (tangible book value) – 1.81x (median of selected peers) applied to ~$490mm of combined tangible book value, at 72.2% pro forma ownership, and fully diluted shares outstanding of 57.972mm, net of estimated tax leakage. Selected peers include TBBK, CASH, CCB, AX, FINW, MFIN, and MVBF. ~$490mm ~$355mm Illustrative Tangible Book Value Multiple Range