Intercontinental Exchange Reports Diluted 19.8% Stake in Bakkt, Inc. Following New Share Issuance

Intercontinental Exchange, Inc. (ICE) and its subsidiary, Intercontinental Exchange Holdings, Inc. (ICEH), filed Amendment No. 13 to their Schedule 13D regarding their investment in Bakkt, Inc. (BKKT). The filing reports a beneficial ownership of 8,380,362 shares of Class A Common Stock, which includes 7,919,002 shares of New Class A Common Stock and 461,360 shares underlying Replacement Warrants. This represents a 19.8% ownership stake based on 41,878,871 shares outstanding. The primary purpose of this amendment is to update the aggregate percentage of beneficial ownership due to dilution. The dilution resulted from Bakkt's issuance of 11,316,775 additional shares on April 30, 2026. The reporting persons emphasized that they have not acquired or disposed of any shares, nor have they effected any transactions in the Class A Common Stock during the past 60 days. The filing also notes minor holdings by certain ICE directors and officers, which the reporting persons specifically disclaim beneficial ownership over.