QuantumScape Successfully Accomplishes Annual Commercial Engagement Goal

SAN JOSE, Calif.--(BUSINESS WIRE)-- QuantumScape Corporation (NYSE: QS), a global leader in next-generation solid-state lithium-metal battery technology, today announced the achievement of its final annual goal for 2025, which targeted a significant expansion in commercial engagement with automotive customers and technology partners. The latest accomplishment in this effort is the signing of a joint development agreement (JDA) with a new automotive OEM customer, a Top-10 global automaker.

This agreement caps a successful year of commercial engagement activities. Over the past year, QS has:

• Entered into an expanded collaboration and licensing deal with PowerCo, the battery maker of the Volkswagen Group
• Signed JDAs with two major global automakers
• Initiated a technology evaluation agreement with a new major global automaker
• Established agreements to develop high-volume ceramic separator production with two leading global ceramics players, Murata Manufacturing and Corning
• Hosted automakers, technology partners, and government officials at its second annual Solid-State Battery Symposium in Kyoto, Japan

Expanding commercial engagements has been a major point of emphasis for QS, and the company expects to continue growing its relationships with existing and new top-tier automotive OEM customers, technology partners and global players across the battery value chain as it builds out the QS ecosystem.

"2025 has been a banner year for QS, and this JDA with a Top-10 automotive OEM customer is a fitting capstone for our successful commercial engagement efforts this year," said Dr. Siva Sivaram, CEO and president of QS. "We intend to carry this momentum forward as we engage with customers and expand our stable of QS ecosystem partners."

About QuantumScape Corporation QuantumScape is on a mission to revolutionize energy storage to enable a sustainable future. The company's next-generation solid-state lithium-metal battery technology is designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future. For more information, visit https://www.quantumscape.com.

Forward-Looking Statements
Certain information in this press release may be considered "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding expectations about expanding relationships with automotive OEMs, technology partners, and other participants in the battery value chain; anticipated progress in joint development agreements; and the potential impact of these collaborations on QS's business and ecosystem. These forward-looking statements are based on management's current expectations, assumptions, hopes, beliefs, intentions and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements due to various risks, including the successful development and commercialization of our solid-state battery technology, achieving technical and financial milestones, building out of high-volume processes and otherwise scaling production, achieving the performance, quality, consistency, reliability, safety, cost and throughput required for commercial production and sale, changes in economic and financial conditions, market demand for EVs, retaining key personnel, competition, regulatory changes, broader economic conditions, and other factors, including those discussed in the section titled "Risk Factors" in our Annual Report and Quarterly Reports and other documents filed with the Securities and Exchange Commission from time to time. Except as otherwise required by applicable law, the company disclaims any duty to update any forward-looking statements.