Slide 1: Webull Corporation: Investor Presentation March 2025
Webull Corporation: Investor Presentation March 2025
Slide 2: Disclaimer
Disclaimer THE CONTENTS OF THIS PRESENTATION ARE NOT FOR RELEASE, REPRODUCTION, PUBLICATION OR DISTRIBUTION, IN WHOLEOR IN PART, DIRECTL Y O R INDIRECTLY, TO ANY OTHER PERSON OR IN OR INTO OR FROM ANY JURISDICTION WHERE SUCH RELEASE, REPRODUCTION, PUBLICATION OR DISTRIBUTION IS UNLAWFUL. PERSONS INT
Slide 3: Disclaimer (cont'd): Forward-Looking Statements
Disclaimer (cont’d) Forward - Looking Statements. This Presentation includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in t
Slide 4: Disclaimer (cont'd): Preliminary Financial Results
Disclaimer (cont’d) Preliminary Financial Results. Further, the financial information for the year ended December 31, 2024 included in this Presentation is preliminary, unaudit ed and subject to completion, and may change as a result of management’s continued review. Such preliminary financial infor
Slide 5: Vision Statement
Vision Statement We strive to be the platform of choice for a new generation of investors by building an efficient , low - cost , and easy - to - use global investment platform 4
Slide 6: Today's Presenters
Today’s Presenters Richard Chin CEO & Director 5 Derek Jensen CFO & Director Anthony Denier President & Director H.C. Wang CFO & Director
Slide 7: Presenter and SK Group background notes
Note: Metrics shown pertain to SK Group 1 FY 2024 Result, in terms of total assets according to the Korea Fair Trade Commission announcement in May 2024 2 Based on Fortune Global 500 List 2024 3 FY 2024 Result, according to the Korea Fair Trade Commission announcement in May 2024 4 FY 2024 Result, a
Slide 8: Investment Highlights
7 Investment Highlights 1 As of Dec 31, 2024 2 For full year 2024 Leading Digital Trading Platform x 23M+ registered users globally 1 x Licensed as broker - dealer in 12 major markets globally 1 x $460B in equity notional volumes and 461M options contracts traded through the Webull platform annually
Slide 9: Company Overview
1 Company Overview
Slide 10: A leading digital investment platform built upon a next-generation, global infrastructure
A leading digital investment platform built upon a next - generation, global infrastructure Who We Are 9 Margin Investing Tailored products to meet the needs of all types of investors Bank Sweep Product Recurring Investments Robo - Advisor Retirement Accounts (IRAs) Learning Stay informed with the l
Slide 11: Our Journey: Key Milestones
Launched US option trading Opened New York office Webull was founded by Alibaba veteran, Anquan Wang = Key Milestones Launched trading services in HK Obtained FINRA broker - dealer license Launched trading services in the US Raised Series C Round Obtained Singapore CMS License Obtained Japan FSA Typ
Slide 12: Webull Today
Webull Today 11 = Year - over - Year Growth Source: Company Information 1 As of Dec 31, 2024 2 For full year 2024 3 Daily Average Revenue Trades (“DARTs”) measures the number of customer trades executed during a given period divided by the n umb er of trading days in that period (assuming 252 tradin
Slide 13: Global Operation Led by Highly Experienced Management Team
Source: Company Information 1 As of Dec 31, 2024 Global Operation Led by Highly Experienced Management Team 12 Shen Lu COO Webull Americas Global Management Team Tokyo Bangkok Jakarta Sydney Johannesburg London K uala Lumpur Hong Kong Singapore New York Sao Paulo Mexico City Toronto Anquan Wang Foun
Slide 14: Proven Platform Supported by Global Customers, Shareholders and Business Partners
Leading Global Investors Clearing Partner Market Makers Exchanges Data Vendors “…loving the service and functionality, and the app itself runs super smoothly“ 23+ million Registered Users Globally 1 “The free features are already so comprehensive that it overshadows all the other free stock apps I h
Slide 15: Awards and Recognition
14 Awards and Recognition The World’s Top 250 Fintech Companies 2024 | US CNBC.COM 2023 | UK Investing Innovation Newcomer Award Finder Investing & Saving Innovation 2023 | AU Best Investing Solution Adam Smith Awards Asia 2022 Benzinga Fintech Award 2022 | US Best Brokerage App Finder Stock Trading
Slide 16: Trends in Our Favor
Trends in Our Favor Accelerating Growth Ahead 15 Digital Engagement Increasing Retail Participation 1 Accessibility of Financial Information 2 Globalization of Retail Investing 3
Slide 17: Webull + SK: Exploring a Synergistic Partnership
Webull + SK: Exploring a Synergistic Partnership 16 Potential Value to SK Potential Value to Webull Leverage Webull’s global retail platform for co - branding opportunities Capitalize on the potential of a thriving retail investment market in Asia and beyond Increase the value of SK’s shareholding b
Slide 18: Customers and Community
2 Customers and Community
Slide 19: Opportunities: Redefine Financial Services for Young Investors
1 US Census Bureau, includes those born between 1980 - 2000 2 Our World in Data, includes those born between 1980 - 2000 3 From January 25, 2023 to February 1, 2023, Forbes 4 As of 2021, based on FINRA Investor Education Foundation published December 2022 5 As of December 2024, the World Federation
Slide 20: Mobile-First, Community Focused
Seamless trading experience Focused on product innovation Speaks the language of our customers 4.7 out of 5 288K Ratings 4.2 out of 5 4.5M Ratings 4.5 out of 5 9.7K Ratings Mobile - First, Community Focused 19 Among Highest App Rating among Peers 1 4.2 out of 5 6.6K Ratings 4.7 out of 5 311K Ratings
Slide 21: Investor Education and Connected Community
Source: Company Information 1 As of Dec 31, 2024 Investor Education Practice Sharing Where users learn from each other and the platform to grow their investing knowledge Connected Community 20 “New Age” Investor Education Platform Accumulates User - Generated Content (UGC) Increases User Activity on
Slide 22: Product & Technology
3 Product & Technology
Slide 23: Our Comprehensive Product Offering
22 Our Comprehensive Product Offering Equities & ETFs Fractional Shares Options Futures Fixed Income Margin IPO Access Cash Sweep Money - Market Funds Robo - Advisor Managed IRAs
Slide 24: Trading Platform Designed for Retail Investors of All Levels
Trading Platform Designed for Retail Investors of All Levels Simple effortless navigation Fresh new interface and optimized layouts Manage investing, saving, and planning tools Less clutter to guide your investment goals Lite Lite 23 Detailed account performance Full suite of tools for charting and
Slide 25: Seamless Multi-Platform Interoperability
Seamless Multi - Platform Interoperability 24 Mobile App Desktop Native Native App Presence Comprehensive and Intuitive Mobile App Functions Customized Interfaces Web Platform
Slide 26: Centralized Platform, Localized Implementation
• System remained available over >99.9% of the time in 2021 and did not suffer any outages during the GameStop market events • User data stored locally • AES 256 - bit e ncryption • Over 620k user s registered and over 240k accounts opened, each in a single day during peak time 1 Container Infrastru
Slide 27: Key Business Metrics
4 Key Business Metrics
Slide 28: Continued Trends of Healthy User Growth with Strong Retention
3.5 3.6 3.6 3.7 3.9 4.1 4.1 4.3 4.3 4.4 4.5 4.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 96.5% 97.3% 98.0% 97.8% 98.2% 97.5% 97.4% 97.9% 97.3% 97.9% 98.4% Continued Trends of Healthy User Growth with Strong Retention 27 Funded Accounts (in millions ) Registered Users (in millions ) % Quarterly Retention
Slide 29: Customer Assets have More than Doubled from 2022 Lows
2022 2023 2024 Customer Assets have More than Doubled from 2022 Lows 28 Customer Assets ($ in billions) Source: Company Information Customer assets have now surpassed $13 billion, the highest in the Company’s history 8.7 6.8 6.6 5.9 6.9 7.5 7.2 8.2 8.7 9.7 11.5 13.6 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Slide 30: Equities and Options Trading Volume Reaching New Highs
107 98 94 89 96 90 93 92 111 102 119 128 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Equity Notional Volume ($ in billions) Equities and Options Trading Volume Reaching New Highs 29 Source: Company Information Continued momentum in trading with $460 billion equities and 461 million contracts traded in 2024
Slide 31: Stable Revenue through the Cycle
Year Ended December 31, In millions, except percentage data 2022 2023 2024 Revenues: Equity and option order flow rebates $279.0 71.8% $192.2 49.3% $197.1 50.5% Interest related income $91.9 23.7% $155.8 40.0% $130.5 33.4% Handling charge income 1, 2 $8.5 2.2% $30.7 7.9% $49.0 12.6% Other revenues $
Slide 32: Investments in New Markets Position Us Well for Future Growth
Year Ended December 31, In millions, except percentage data 2022 2023 2024 Operating Expenses: Brokerage and transaction $59.8 18.7% $66.4 18.1% $79.3 19.6% Technology and development $46.8 14.6% $52.2 14.2% $63.8 15.8% Marketing and branding 1 $140.3 43.9% $152.2 41.5% $138.7 34.3% General and admi
Slide 33: Transaction Overview
5 Transaction Overview
Slide 34: Transaction Overview
33 Transaction Overview Pro Forma Valuation at Close Transaction Highlights Valuation • $4,699M enterprise value to market • Implied pro - forma market capitalization of $5,125M Financing • Transaction expected to provide gross proceeds of approximately $100M • $426M of net cash held on the pro - fo
Slide 35: Risk Factors
Risk Factors Risks Relating to Webull’s Business and Industry • We have a limited operating history and our historical operating and financial results are not necessarily indicative of futu re performance, which makes it difficult to predict our future business prospects and financial performance. •
Slide 36: Thank You!
Thank You!