On October 17, 2024, Dennis Segers and Dr. Günther Mendl were appointed to the Board of Directors of QuantumScape Corporation to serve as directors with a term of office expiring at the Company?s next annual meeting of stockholders. Mr. Segers was also appointed to serve as the Chairman of the Board, effective January 1, 2025, filling the vacancy created following Jagdeep Singh?s retirement from this role. Dr. Mendl was appointed to the Board upon designation by Volkswagen Group of America Investments, LLC pursuant to the amended and restated letter agreement entered into with the Company on July 5, 2024, occupying one of the two Board seats designated to representatives of the Volkswagen Group and succeeding Frank Blome who resigned from the Board in July 2024.

No committee appointments for either Mr. Segers or Dr. Mendl have been made at this time. Mr. Segers is a 45-year veteran of the semiconductor industry, with extensive experience serving in executive management, on boards of directors and as an advisor of venture capital backed startups, private and public companies. Mr. Segers serves on the boards of Parade Technologies Ltd., a publicly traded fabless semiconductor company, since 2007, of Flip Electronics, a specialty distributor of electronic components, since 2021, and as the chairman of Kinara Inc., a developer of AI solutions, since 2022.

From 2015 until the acquisition by AMD in 2022, Mr. Segers served as the chairman of the Board of Xilinx Inc., a leading provider of programmable logic solutions. Previously, he served as CEO of Tabula Inc. and as president, CEO and director of Matrix Semiconductor, where he oversaw the transition of the company from the early technology feasibility phase to high volume production. Mr. Segers holds a B.S. in Electrical Engineering from Texas A&M University, where he has served as a member of the College of Engineering Advisory Board since 2006.

Dr. Günther Mendl has over two decades of experience in battery technology and propulsion systems within the automotive industry. Since 2022, he has been the Head of the Center of Excellence Battery at Volkswagen AG, where he manages the entire battery lifecycle, from development, purchasing, strategic production planning and quality management to recycling. From 2020 to 2022, he led the Battery Systems & Battery Cells division, overseeing pre-development and program management.

From 2017 to 2020, he served as the Head of Development for E-Traction, Charging & Battery Systems at Audi AG, focusing on battery, charging and electrical drivetrain. Prior to that, Dr. Mendl held a series of senior roles at Audi AG since 2001. He holds a diploma and PhD in Mechanical Engineering from the Technical University of Munich.

On October 17, 2024, Jagdeep Singh notified the Board that, effective as of December 31, 2024, he will retire from the Board, after having served as the Company's Chairman of the Board since he co-founded the Company in 2010. Mr. Singh also served as the Company's CEO from 2010 until February 2024. Mr. Singh will continue to serve as the Company's Chairman of the Board until and including the Retirement Date.

As described above, Mr. Segers has been appointed by the Board to succeed Mr. Singh as Chairman of the Board effective January 1, 2025. Effective on the Retirement Date, Mr. Singh?s outstanding equity awards will terminate in connection with his resignation from the Board. Mr. Singh?s decision did not reflect any disagreement with the Company on any matter relating to the Company?s operations, policies, or practices.