Material Event (Form 8-K)

On September 9, 2025, Bakkt Holdings, Inc. (the "Company") filed a definitive proxy statement on Schedule 14A (the "Proxy Statement") with the Securities and Exchange Commission (the "SEC"). As previously reported, the special meeting of the Company's stockholders (the "Special Meeting") to approve the proposal of a one-timegrant of options to select members of management to purchase shares of the Company's Class A common stock, par value $0.0001 per share (as defined and further described in the Proxy Statement, the "Options Proposal"), was called to order on October 7, 2025 and subsequently adjourned without opening the polls on the Options Proposal in order to allow the Company to solicit additional proxies with respect to the Options Proposal.

The Company today announced that it intends to amend the Options Proposal prior to the time the Special Meeting is scheduled to be reconvened on October 31, 2025 at 1:00 p.m. Eastern Time (such amended proposal, the "Amended Options Proposal"). As a result, the Company's stockholders will be asked to consider and vote only on the Amended Options Proposal. The Company intends to describe the Amended Options Proposal in a current report on Form 8-Kand in definitive additional proxy materials to be filed by the Company with the SEC prior to October 31, 2025.