QuantumScape Corporation to Host and Livestream Solid-State Battery Showcase Event on December 8, 2020

QuantumScape Corporation (“QuantumScape”), a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles (EVs), announced today that it will be providing a first look at its solid-state electric vehicle battery technology at its “Solid-State Battery Showcase” on December 8, 2020, at 11am ET. The event can be accessed via the following link: quantumscape.com/livestream.

Jagdeep Singh, Founder and Chief Executive Officer of QuantumScape, will unveil new performance data on QuantumScape’s unique solid-state battery technology, demonstrating how the company has addressed some of the fundamental issues that are holding back widespread adoption of solid-state batteries. The innovation in QuantumScape’s technology is designed to enable the EV industry to move beyond the performance and physical limits of the current lithium-ion design, which should facilitate more widespread electrification of the transportation sector and enable a lower-carbon future.

The event will also feature an all-star panel of battery scientists and automotive experts who will discuss their views on solid-state batteries and QuantumScape’s technology, and what this technological advancement could mean for the EV industry. The panel will include Prof. Stan Whittingham, co-inventor of the lithium-ion battery and winner of the 2019 Nobel prize in chemistry; Prof. Paul Albertus, former head of the US DOE ARPA-E IONCS solid-state battery program and professor of chemical engineering at the University of Maryland; Prof. Venkat Vishwanathan, battery expert, former lithium-air researcher, and professor of mechanical engineering at Carnegie-Mellon University; Prof. Juergen Leohold, former head of group research at Volkswagen; JB Straubel, co-founder and former CTO of Tesla, and co-founder and CEO of Redwood Materials. The panel will be moderated by Dr. Dave Danielson, first employee at ARPA-E, former head of the US DOE’s EERE program, Precourt scholar at Stanford University, and managing director at Breakthrough Energy Ventures.

About QuantumScape Corporation

QuantumScape is a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company's mission is to revolutionize energy storage to enable a sustainable future.

For additional information, please visit www.quantumscape.com

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, including, without limitation, regarding the development, timeline and performance of QuantumScape’s products and technology are forward-looking statements. When used in this press release, the words “is designed to,” “could,” “should,” “enables,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements, including statements about other solid-state battery systems and their limitations, and our belief that our battery solution opens the industry up to the next generation of EVs, are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside QS’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) QS faces significant barriers in its attempts to scale from a single layer pouch cell and complete development of its solid-state battery cell and related manufacturing processes, and development may not be successful, (ii) QS may encounter substantial delays in the development, manufacture, regulatory approval, and launch of QS solid-state battery cells, which could prevent QS from commercializing products on a timely basis, if at all, (iii) QS may be unable to adequately control the costs of manufacturing its solid-state separator and battery cells, and (iv) QS may not be successful in competing in the battery market. QS cautions that the foregoing list of factors is not exclusive. Additional information about factors that could materially affect QS is set forth under the “Risk Factors” section in the proxy statement/prospectus/information statement filed by Kensington Capital Acquisition Corp. with the SEC on November 12, 2020 and available on the SEC’s website at www.sec.gov.

Except as otherwise required by applicable law, QuantumScape disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements.

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