Exhibit 99.2 N E X T - G E N E R A T I O N S O L I D - S T A T E B A T T E R I E S December, 2020Exhibit 99.2 N E X T - G E N E R A T I O N S O L I D - S T A T E B A T T E R I E S December, 2020

Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws and information based on management’s current expectations as of the date of this presentation. All statements other than statements of historical fact contained in this presentation, including statements regarding QuantumScape’s future operating results, financial position, business strategy, addressable market, anticipated benefits of its technologies, projected factory economics, pro forma information, and plans and objectives for future operations and products are forward-looking statements. When used in this presentation, the words “may,” “will,” “estimate,” “pro forma,” “expect,” “plan,” “believe,” “potential,” “predict,” “target,” “should,” “would,” “could,” “continue,” “believe,” “project,” “intend, anticipates 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 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. QuantumScape cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of QuantumScape, incident to its business. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Many of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) QuantumScape faces significant barriers in its attempts to produce a solid-state battery cell and may not be able to successfully develop its solid-state battery cell, which will negatively impact the business; (ii) if QuantumScape’s batteries fail to perform as expected, QuantumScape’s ability to develop, market and sell its batteries could be harmed; (iii) QuantumScape may encounter substantial delays in the design, manufacture, regulatory approval, and launch of QuantumScape’s solid-state battery cells, which could prevent QuantumScape from commercializing any products it determines to develop on a timely basis, if at all; (iv) QuantumScape has a relatively short operating history and operates in a rapidly evolving industry, which makes it difficult to evaluate future prospects and may increase the risk that it will not continue to be successful; (v) QuantumScape may be unable to adequately control the costs associated with its operations and the components necessary to build its solid-state battery cells; (vi) QuantumScape may not be successful in competing in the battery market industry or establishing and maintaining confidence in its long-term business prospectus among current and future partners and customers and (vii) the duration and impact of the COVID-19 pandemic on QuantumScape's business. QuantumScape cautions that the foregoing list of factors is not exclusive. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Further information about factors that could materially affect QuantumScape, including its results of operations and financial condition, is set forth under the “Risk Factors” section in the Form 8-K filed by QuantumScape with the SEC on December 2, 2020. 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 presentation. QuantumScape cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of QuantumScape. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in QuantumScape’s periodic filings with the SEC. QuantumScape’s SEC filings are available publicly on the SEC’s website at www.sec.gov.Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws and information based on management’s current expectations as of the date of this presentation. All statements other than statements of historical fact contained in this presentation, including statements regarding QuantumScape’s future operating results, financial position, business strategy, addressable market, anticipated benefits of its technologies, projected factory economics, pro forma information, and plans and objectives for future operations and products are forward-looking statements. When used in this presentation, the words “may,” “will,” “estimate,” “pro forma,” “expect,” “plan,” “believe,” “potential,” “predict,” “target,” “should,” “would,” “could,” “continue,” “believe,” “project,” “intend, anticipates 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 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. QuantumScape cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of QuantumScape, incident to its business. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Many of these factors are outside QuantumScape’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) QuantumScape faces significant barriers in its attempts to produce a solid-state battery cell and may not be able to successfully develop its solid-state battery cell, which will negatively impact the business; (ii) if QuantumScape’s batteries fail to perform as expected, QuantumScape’s ability to develop, market and sell its batteries could be harmed; (iii) QuantumScape may encounter substantial delays in the design, manufacture, regulatory approval, and launch of QuantumScape’s solid-state battery cells, which could prevent QuantumScape from commercializing any products it determines to develop on a timely basis, if at all; (iv) QuantumScape has a relatively short operating history and operates in a rapidly evolving industry, which makes it difficult to evaluate future prospects and may increase the risk that it will not continue to be successful; (v) QuantumScape may be unable to adequately control the costs associated with its operations and the components necessary to build its solid-state battery cells; (vi) QuantumScape may not be successful in competing in the battery market industry or establishing and maintaining confidence in its long-term business prospectus among current and future partners and customers and (vii) the duration and impact of the COVID-19 pandemic on QuantumScape's business. QuantumScape cautions that the foregoing list of factors is not exclusive. QuantumScape cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Further information about factors that could materially affect QuantumScape, including its results of operations and financial condition, is set forth under the “Risk Factors” section in the Form 8-K filed by QuantumScape with the SEC on December 2, 2020. 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 presentation. QuantumScape cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of QuantumScape. Should underlying assumptions prove incorrect, actual results and projections could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in QuantumScape’s periodic filings with the SEC. QuantumScape’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Agenda QuantumScape Jagdeep Singh, CEO Overview and Results Battery Science Panel Dr. David Danielson (Moderator) • Dr. Stanley Whittingham • Dr. Paul Albertus • Dr. Venkat Viswanathan • Dr. Tim Holme Commercial Impact on Dr. David Danielson (Moderator) EVs Panel • Dr. Jurgen Leohold • JB Straubel Questions & Answers Jagdeep Singh, CEOAgenda QuantumScape Jagdeep Singh, CEO Overview and Results Battery Science Panel Dr. David Danielson (Moderator) • Dr. Stanley Whittingham • Dr. Paul Albertus • Dr. Venkat Viswanathan • Dr. Tim Holme Commercial Impact on Dr. David Danielson (Moderator) EVs Panel • Dr. Jurgen Leohold • JB Straubel Questions & Answers Jagdeep Singh, CEO

Management Team Select Management Team Members JAGDEEP SINGH PROF. FRITZ PRINZ DR. TIM HOLME DR. MOHIT SINGH Founder / CEO Founder & Chief Scientific Founder & Chief Chief Development (Chairman) Advisor (Board Member) Technology Officer Officer ● Founder / CEO Infinera (NASDAQ: ● Chair, Mechanical Engineering, ● Research Associate, Stanford ● CTO and co-founder, SEEO INFN); Lightera, now Ciena Stanford ● Ph.D. & MS Mechanical Engineering, ● Solid-state energy storage world expert (NASDAQ: CIEN); OnFiber, now ● Professor, Materials Science, Stanford Stanford ● Ph.D. Chem & Biomol Eng, Tulane Qwest; AirSoft ● PhD, Physics, University of Vienna ● BS Physics, Stanford ● Postdoc, Polymers, Berkeley ● MS Computer Science, Stanford KEVIN HETTRICH HOWARD LUKENS JAY UNDERWOOD MIKE MCCARTHY Chief Financial Officer Chief Sales Officer Vice President, Sales Chief Legal Officer & Head of Corp. Dev. ● Bain Capital ● VP WW Sales, Infinera (NASDAQ: ● Sales Director, Northern Europe, ● CLO & CAO, Infinera (NASDAQ: INFN) Infinera INFN) ● McKinsey & Company ● VP Strategic Sales, Ciena, (NASDAQ: ● Product Planning, Infinera ● SVP & General Counsel, Ciena ● US Department of Energy CIEN) (NASDAQ: CIEN) ● MS Technology ● MBA & MS, Stanford ● VP WW Sales, Lightera ● J.D. VanderbiltManagement Team Select Management Team Members JAGDEEP SINGH PROF. FRITZ PRINZ DR. TIM HOLME DR. MOHIT SINGH Founder / CEO Founder & Chief Scientific Founder & Chief Chief Development (Chairman) Advisor (Board Member) Technology Officer Officer ● Founder / CEO Infinera (NASDAQ: ● Chair, Mechanical Engineering, ● Research Associate, Stanford ● CTO and co-founder, SEEO INFN); Lightera, now Ciena Stanford ● Ph.D. & MS Mechanical Engineering, ● Solid-state energy storage world expert (NASDAQ: CIEN); OnFiber, now ● Professor, Materials Science, Stanford Stanford ● Ph.D. Chem & Biomol Eng, Tulane Qwest; AirSoft ● PhD, Physics, University of Vienna ● BS Physics, Stanford ● Postdoc, Polymers, Berkeley ● MS Computer Science, Stanford KEVIN HETTRICH HOWARD LUKENS JAY UNDERWOOD MIKE MCCARTHY Chief Financial Officer Chief Sales Officer Vice President, Sales Chief Legal Officer & Head of Corp. Dev. ● Bain Capital ● VP WW Sales, Infinera (NASDAQ: ● Sales Director, Northern Europe, ● CLO & CAO, Infinera (NASDAQ: INFN) Infinera INFN) ● McKinsey & Company ● VP Strategic Sales, Ciena, (NASDAQ: ● Product Planning, Infinera ● SVP & General Counsel, Ciena ● US Department of Energy CIEN) (NASDAQ: CIEN) ● MS Technology ● MBA & MS, Stanford ● VP WW Sales, Lightera ● J.D. Vanderbilt

KENSINGTON CAPITAL ACQUISITION CORP JOHN DOERR JB STRAUBEL JUSTIN MIRRO • Management and board with extensive public company experience and operating capabilities in the automotive and automotive-related sector • Relevant automotive experience to optimize program launches and capital deployment while facilitating commercial Backed by relationships DIPENDER JÜRGEN BRAD BUSS • Track record of creating significant SALUJA LEOHOLD shareholder value in automotive Leading businesses Investors EXISTING INVESTORS SELECT BOARD MEMBERS AND INVESTORS FRANK BLOME Bill Gates (1) Pro forma for $388mm Series F financing; $188mm anticipated to fund concurrent with PIPE; $100mm of Volkswagen's investment anticipated to fund on December 1, 2020 and $100mm is subject to technical milestones. Note: Volkswagen will receive an additional board seat when the first tranche of its Series F investment closes. Kensington board member will be added after the transaction closes.KENSINGTON CAPITAL ACQUISITION CORP JOHN DOERR JB STRAUBEL JUSTIN MIRRO • Management and board with extensive public company experience and operating capabilities in the automotive and automotive-related sector • Relevant automotive experience to optimize program launches and capital deployment while facilitating commercial Backed by relationships DIPENDER JÜRGEN BRAD BUSS • Track record of creating significant SALUJA LEOHOLD shareholder value in automotive Leading businesses Investors EXISTING INVESTORS SELECT BOARD MEMBERS AND INVESTORS FRANK BLOME Bill Gates (1) Pro forma for $388mm Series F financing; $188mm anticipated to fund concurrent with PIPE; $100mm of Volkswagen's investment anticipated to fund on December 1, 2020 and $100mm is subject to technical milestones. Note: Volkswagen will receive an additional board seat when the first tranche of its Series F investment closes. Kensington board member will be added after the transaction closes.

>$1.5B of Committed Capital¹ Over $300M spent on development to date 10 Years of R&D Investment Founded in 2010 By the 250+ Employees World Class Next-gen Battery Development Team Numbers 200+ Patents² Materials, Use and Process Extensive Trade Secrets Processes and Intellectual Property 1. Prior to its merger with Kensington, QuantumScape secured over $800 million in committed funds. With the addition of the $700 million from its merger with Kensington and subsequent PIPE financing, QuantumScape will have received more than $1.5 billion in commitments to date 2. Includes patents and patent applications.>$1.5B of Committed Capital¹ Over $300M spent on development to date 10 Years of R&D Investment Founded in 2010 By the 250+ Employees World Class Next-gen Battery Development Team Numbers 200+ Patents² Materials, Use and Process Extensive Trade Secrets Processes and Intellectual Property 1. Prior to its merger with Kensington, QuantumScape secured over $800 million in committed funds. With the addition of the $700 million from its merger with Kensington and subsequent PIPE financing, QuantumScape will have received more than $1.5 billion in commitments to date 2. Includes patents and patent applications.

Volkswagen Committed to QuantumScape Technology Volkswagen Group Overview “Volkswagen has become the largest shareholder of QuantumScape. Our US$100 million investment is a key building block in the Group’s battery strategy. One of the • ~11 million vehicles produced in FY2019 long-term targets is to establish a production line for solid-state batteries by 2025.” - Herbert Diess, Volkswagen AG CEO • ~$38 billion investment in electric mobility by 2024 • Plans to launch ~70 electric vehicle models and produce 22 million electric vehicles by 2029 “The Volkswagen Group has established a joint venture with QuantumScape, a manufacturer of solid-state batteries. The shared goal of the companies is large-scale production...” - Oliver Blume, Porsche CEO “In June 2020, the Volkswagen Group also announced plans to increase its Volkswagen Partners with QuantumScape shareholding in the US battery specialist QuantumScape. The objective is to promote the joint development of solid-state battery technology. In the future, solid-state 1 ◼ Corporate funding commitment of $300+ million batteries should result in a significantly increased range and faster charge times. They are regarded as the most promising approach to electric mobility for ◼ Strong relationship since 2012, including development 2 generations to come. Volkswagen has already been collaborating with collaboration, testing of prototype cells and QuantumScape since 2012 and is the largest automotive shareholder thus far. Both founded a joint venture in 2018, the aim of which is to prepare the mass production of representation on the QS board of directors solid-state batteries for Volkswagen.” ◼ Founded a JV to prepare for the mass production of 3 - Volkswagen Group Half-Yearly Financial Report, July 2020 solid-state batteries for Volkswagen Source: Volkswagen AG Half-Yearly Financial Report published July-2020, 2019 Annual Report published Mar-2020, press releases published Mar-2019, Nov-2019 and Jun-2020, Half-year press conference published Aug-2018; Porsche Annual Press Conference published Mar-2019). Page 18 based on Volkswagen AG press release published Sep-2018. Select BrandsVolkswagen Committed to QuantumScape Technology Volkswagen Group Overview “Volkswagen has become the largest shareholder of QuantumScape. Our US$100 million investment is a key building block in the Group’s battery strategy. One of the • ~11 million vehicles produced in FY2019 long-term targets is to establish a production line for solid-state batteries by 2025.” - Herbert Diess, Volkswagen AG CEO • ~$38 billion investment in electric mobility by 2024 • Plans to launch ~70 electric vehicle models and produce 22 million electric vehicles by 2029 “The Volkswagen Group has established a joint venture with QuantumScape, a manufacturer of solid-state batteries. The shared goal of the companies is large-scale production...” - Oliver Blume, Porsche CEO “In June 2020, the Volkswagen Group also announced plans to increase its Volkswagen Partners with QuantumScape shareholding in the US battery specialist QuantumScape. The objective is to promote the joint development of solid-state battery technology. In the future, solid-state 1 ◼ Corporate funding commitment of $300+ million batteries should result in a significantly increased range and faster charge times. They are regarded as the most promising approach to electric mobility for ◼ Strong relationship since 2012, including development 2 generations to come. Volkswagen has already been collaborating with collaboration, testing of prototype cells and QuantumScape since 2012 and is the largest automotive shareholder thus far. Both founded a joint venture in 2018, the aim of which is to prepare the mass production of representation on the QS board of directors solid-state batteries for Volkswagen.” ◼ Founded a JV to prepare for the mass production of 3 - Volkswagen Group Half-Yearly Financial Report, July 2020 solid-state batteries for Volkswagen Source: Volkswagen AG Half-Yearly Financial Report published July-2020, 2019 Annual Report published Mar-2020, press releases published Mar-2019, Nov-2019 and Jun-2020, Half-year press conference published Aug-2018; Porsche Annual Press Conference published Mar-2019). Page 18 based on Volkswagen AG press release published Sep-2018. Select Brands

Need battery breakthrough to enable electrification of remaining 98% of market Customer Requirements for Mass Market Adoption Energy / Capacity >300 mile range Fast Charging Charge in <15 min Cost < $30K, 300 mile EVs Battery Lifetime >12 years, >150k miles Safety Solid, non-oxidizable separator 2% PHEV + BEV Penetration² Source: International Organization of Motor Vehicle Manufacturers (OICA); IEA (1) Based on 2019 global vehicle production; includes passenger vehicles, heavy trucks, buses and coaches (OICA). Battery opportunity assumes $100 / KWh and 50KWh+ battery pack. (2) % of Global Car Stock in 2019 (IEA).Need battery breakthrough to enable electrification of remaining 98% of market Customer Requirements for Mass Market Adoption Energy / Capacity >300 mile range Fast Charging Charge in <15 min Cost < $30K, 300 mile EVs Battery Lifetime >12 years, >150k miles Safety Solid, non-oxidizable separator 2% PHEV + BEV Penetration² Source: International Organization of Motor Vehicle Manufacturers (OICA); IEA (1) Based on 2019 global vehicle production; includes passenger vehicles, heavy trucks, buses and coaches (OICA). Battery opportunity assumes $100 / KWh and 50KWh+ battery pack. (2) % of Global Car Stock in 2019 (IEA).

Lithium-Metal Anode is Required for High Energy Density And Lithium metal anode requires a solid-state separator 600 Lithium-Metal Lithium-Metal Anode Required Key Takeaways Anode 500 Lithium-Metal Batteries Lithium-metal anode 400 necessary to achieve high energy density Graphite / Silicon 300 Conventional Anode Lithium-Ion Lithium-metal cannot be Graphite Anode Batteries 200 used without a solid-state separator 100 0 Cathode Material Source: Andre et al, J Mater Chem A, (2015) 6709 Modeled Cell Energy Density (Wh/kg) LiFeBO3 LiVPO4F LiMnPO4 LiNi0.5Mn1.5O4 HE-NMC Li2MnSiO4(2Li) NMC811 NCA FeF2 CoF2 NiF2 FeF3Lithium-Metal Anode is Required for High Energy Density And Lithium metal anode requires a solid-state separator 600 Lithium-Metal Lithium-Metal Anode Required Key Takeaways Anode 500 Lithium-Metal Batteries Lithium-metal anode 400 necessary to achieve high energy density Graphite / Silicon 300 Conventional Anode Lithium-Ion Lithium-metal cannot be Graphite Anode Batteries 200 used without a solid-state separator 100 0 Cathode Material Source: Andre et al, J Mater Chem A, (2015) 6709 Modeled Cell Energy Density (Wh/kg) LiFeBO3 LiVPO4F LiMnPO4 LiNi0.5Mn1.5O4 HE-NMC Li2MnSiO4(2Li) NMC811 NCA FeF2 CoF2 NiF2 FeF3

QuantumScape Zero Li Anode-free Architecture Improved cost, energy density, safety Conventional Liquid Battery QuantumScape Solid-State Battery Anode Current Collector Graphite / Silicon Anode Discharged Charged (as manufactured) Anode Current Collector Liquid Electrolyte 3 Lithium Metal Anode Lithium-Metal 1 Porous Separator 2 Solid-State Separator Cathode Active Cathode Active Catholyte Liquid Electrolyte Cathode Current Cathode Current Collector Collector 3 1 2 Lithium-Metal Anode Solid-State Separator Anode-free Manufacturing High-rate cycling of a lithium- Ceramic electrolyte with high Anode-free cell design with metal anode dendrite resistance lithium plated during charge cyclesQuantumScape Zero Li Anode-free Architecture Improved cost, energy density, safety Conventional Liquid Battery QuantumScape Solid-State Battery Anode Current Collector Graphite / Silicon Anode Discharged Charged (as manufactured) Anode Current Collector Liquid Electrolyte 3 Lithium Metal Anode Lithium-Metal 1 Porous Separator 2 Solid-State Separator Cathode Active Cathode Active Catholyte Liquid Electrolyte Cathode Current Cathode Current Collector Collector 3 1 2 Lithium-Metal Anode Solid-State Separator Anode-free Manufacturing High-rate cycling of a lithium- Ceramic electrolyte with high Anode-free cell design with metal anode dendrite resistance lithium plated during charge cycles

QuantumScape Energy Density Energy-optimized Cell Designs NCA or Ni-rich NMC + Silicon / Carbon Anode 3 NCA 2 NMC 1 LFP Source: Argonne National Laboratory; Management estimates 1 2 3 Lithium, iron, and phosphate Nickel, manganese, and cobalt Nickel, cobalt, and aluminumQuantumScape Energy Density Energy-optimized Cell Designs NCA or Ni-rich NMC + Silicon / Carbon Anode 3 NCA 2 NMC 1 LFP Source: Argonne National Laboratory; Management estimates 1 2 3 Lithium, iron, and phosphate Nickel, manganese, and cobalt Nickel, cobalt, and aluminum

Significantly increases volumetric and Energy gravimetric energy density by eliminating graphite/silicon anode host material. Enables <15-minute fast charge (0 to 80%) by eliminating lithium diffusion bottleneck in Fast Charge anode host material. Lithium metal Increased life by eliminating capacity loss Life at anode interface. architecture addresses Eliminates organic separator. Solid-state multiple separator is nonflammable and Safety requirements noncombustible. simultaneously Lower cost by eliminating anode host Cost material and manufacturing costs.Significantly increases volumetric and Energy gravimetric energy density by eliminating graphite/silicon anode host material. Enables <15-minute fast charge (0 to 80%) by eliminating lithium diffusion bottleneck in Fast Charge anode host material. Lithium metal Increased life by eliminating capacity loss Life at anode interface. architecture addresses Eliminates organic separator. Solid-state multiple separator is nonflammable and Safety requirements noncombustible. simultaneously Lower cost by eliminating anode host Cost material and manufacturing costs.

Previous Attempts Have Been Unsuccessful Lithium Metal Anode X = challenge Organics Inorganics Additives / Protected Phosphates & LiPON, Separator Requirements Ionic liquids Layer Gel Polymer Sulfides Perovskites Garnets borohydrides 1 X Conductivity X X 2 Separator-Anode ASR X X X X X 3 X X X Lithium metal stability 4 X X X X X X X X Dendrite resistance Also must be thin and continuously processed at low cost over large areaPrevious Attempts Have Been Unsuccessful Lithium Metal Anode X = challenge Organics Inorganics Additives / Protected Phosphates & LiPON, Separator Requirements Ionic liquids Layer Gel Polymer Sulfides Perovskites Garnets borohydrides 1 X Conductivity X X 2 Separator-Anode ASR X X X X X 3 X X X Lithium metal stability 4 X X X X X X X X Dendrite resistance Also must be thin and continuously processed at low cost over large area

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Low Current Density while Charging Slow Charge • Low Cathode Loading or Low C-rate Low Cycle Life Life • < 800 cycles Existing separators only Limited Temperature Range Cost work under • Elevated only Complexity severely compromised conditions Requires Excess Lithium Low EnergyLow Current Density while Charging Slow Charge • Low Cathode Loading or Low C-rate Low Cycle Life Life • < 800 cycles Existing separators only Limited Temperature Range Cost work under • Elevated only Complexity severely compromised conditions Requires Excess Lithium Low Energy

QuantumScape Material & Cell C E R A M I C S O L I D - S TAT E S E PA R AT O R S I N G L E L AY E R P O U C H C E L LQuantumScape Material & Cell C E R A M I C S O L I D - S TAT E S E PA R AT O R S I N G L E L AY E R P O U C H C E L L

Fast Charging Fast 100 <15 min 80% Charge Charging QS 90 Commercial target Fast charge capability 80 exceeds commercial targets 70 with commercial area single layer prototype 60 ~40 min 80% Charge C/Si anode, Li-Ion 50 80% Charge in 15 minutes. Lithium Ion batteries currently 40 only get to <50% in 15 minutes 30 20 Commercial area (70x85mm) prototype 2 10 Zero Excess Li, 3.2mAh/cm , Single Layer 30 °C 0 0 10 20 30 40 50 60 Time [min] Lithium Ion QuantumScape C/Si anode Single Layer Cell State of charge [%]Fast Charging Fast 100 <15 min 80% Charge Charging QS 90 Commercial target Fast charge capability 80 exceeds commercial targets 70 with commercial area single layer prototype 60 ~40 min 80% Charge C/Si anode, Li-Ion 50 80% Charge in 15 minutes. Lithium Ion batteries currently 40 only get to <50% in 15 minutes 30 20 Commercial area (70x85mm) prototype 2 10 Zero Excess Li, 3.2mAh/cm , Single Layer 30 °C 0 0 10 20 30 40 50 60 Time [min] Lithium Ion QuantumScape C/Si anode Single Layer Cell State of charge [%]

2 Current density [mA/cm ] Material Performance: Extreme high rate lithium plating Dendrite Resistance Material entitlement exists for Li/Li symmetric cell 2-min charge Single Layer full charge in <5 min 25C rate 45 °C 2 >100mA/cm Solid-state separator resists dendrites even at very high current density 15-minute charge 4C Rate Based on solid-state 2 16mA/cm separator material testing Previous solid-state Cumulative charge 0 1 2 3 4 5 6 2 [mAh/cm ] Lithium plated 20 25 30 0 5 10 15 [μm] Voltage [V]2 Current density [mA/cm ] Material Performance: Extreme high rate lithium plating Dendrite Resistance Material entitlement exists for Li/Li symmetric cell 2-min charge Single Layer full charge in <5 min 25C rate 45 °C 2 >100mA/cm Solid-state separator resists dendrites even at very high current density 15-minute charge 4C Rate Based on solid-state 2 16mA/cm separator material testing Previous solid-state Cumulative charge 0 1 2 3 4 5 6 2 [mAh/cm ] Lithium plated 20 25 30 0 5 10 15 [μm] Voltage [V]

OEM Track Cycle Power Passed simulated OEM- specified track cycle with commercial area prototype QS solid state cells can 10 20 30 40 50 60 70 deliver aggressive Time (s) automotive power profiles 100 80 Li-ion C/Si anode 60 40 Commercial area (70x85mm) prototype 2 Zero Excess Li, 3.2mAh/cm , Single Layer 15 min fast charge to 80% SOC at 45 °C 20 (~280 mi in 15 min for 350-mile range BEV) High power track profile discharge 0 0 200 400 600 800 1000 1200 Cumulative Track Cycles (Laps) Discharge Energy [%] 2 Current density (mA/cm )OEM Track Cycle Power Passed simulated OEM- specified track cycle with commercial area prototype QS solid state cells can 10 20 30 40 50 60 70 deliver aggressive Time (s) automotive power profiles 100 80 Li-ion C/Si anode 60 40 Commercial area (70x85mm) prototype 2 Zero Excess Li, 3.2mAh/cm , Single Layer 15 min fast charge to 80% SOC at 45 °C 20 (~280 mi in 15 min for 350-mile range BEV) High power track profile discharge 0 0 200 400 600 800 1000 1200 Cumulative Track Cycles (Laps) Discharge Energy [%] 2 Current density (mA/cm )

Cycle Life Battery Life 100 Meets commercial target with commercial area single layer prototype 80 Commercial target: 800 cycles, 80% fade Cycling with >80% energy EV Battery Warranties 1 Today (240,000 miles) 60 retention in 800+ cycles (still on test) 40 Chart based on accelerated testing (3x automotive rates) Commercial area (70x85mm) prototype 20 2 Zero Excess Li, 3.2mAh/cm , Single Layer 1C charge and discharge 30 °C 0 Cumulative 0 100 200 300 400 500 600 700 800 Cycle Index Miles driven 30k 90k 0 60k 120k 210k 240k 150k 180k 100kWh BEV 1) Source: MyEV.com and Tesla.com Discharge energy [%]Cycle Life Battery Life 100 Meets commercial target with commercial area single layer prototype 80 Commercial target: 800 cycles, 80% fade Cycling with >80% energy EV Battery Warranties 1 Today (240,000 miles) 60 retention in 800+ cycles (still on test) 40 Chart based on accelerated testing (3x automotive rates) Commercial area (70x85mm) prototype 20 2 Zero Excess Li, 3.2mAh/cm , Single Layer 1C charge and discharge 30 °C 0 Cumulative 0 100 200 300 400 500 600 700 800 Cycle Index Miles driven 30k 90k 0 60k 120k 210k 240k 150k 180k 100kWh BEV 1) Source: MyEV.com and Tesla.com Discharge energy [%]

Material Performance: Extreme low temperature operation Low Temp Operability shown at lower 4.5 end of automotive 4 temperature range with single 3.5 layer prototype (30 x 30 mm) 3 Significant capacity is 2.5 -30 °C -20 °C -10 °C 0 °C accessible even at C/Si anode 2 Li-ion -30° Celsius -25 °C 1.5 1 30x30 mm, Single Layer Charge: C/3 at 30 °C 0.5 Discharge: C/3 at low temp 0 0 20 40 60 80 100 120 140 160 Active Specific Capacity [mAh/g] Voltage [V]Material Performance: Extreme low temperature operation Low Temp Operability shown at lower 4.5 end of automotive 4 temperature range with single 3.5 layer prototype (30 x 30 mm) 3 Significant capacity is 2.5 -30 °C -20 °C -10 °C 0 °C accessible even at C/Si anode 2 Li-ion -30° Celsius -25 °C 1.5 1 30x30 mm, Single Layer Charge: C/3 at 30 °C 0.5 Discharge: C/3 at low temp 0 0 20 40 60 80 100 120 140 160 Active Specific Capacity [mAh/g] Voltage [V]

Cell Performance: Low temperature life Low Temp Cycling with commercial area single layer prototype at low temperature (-10° Celsius) Note: cells still on test Commercial area (70x85mm) prototype 2 Li-free, 3.2mAh/cm , Single Layer C/5 charge and C/3 discharge -10 °CCell Performance: Low temperature life Low Temp Cycling with commercial area single layer prototype at low temperature (-10° Celsius) Note: cells still on test Commercial area (70x85mm) prototype 2 Li-free, 3.2mAh/cm , Single Layer C/5 charge and C/3 discharge -10 °C

Material Performance: Inherent stability with metallic lithium Thermal Stability Solid state separator is not combustible and has high thermal stability Lithium anode is chemically stable with separator and foil, even when molten Based on solid-state separator material testing Unlike a liquid electrolyte, QS solid-state separator has no appreciable reaction with molten lithium metal 2mW/mgMaterial Performance: Inherent stability with metallic lithium Thermal Stability Solid state separator is not combustible and has high thermal stability Lithium anode is chemically stable with separator and foil, even when molten Based on solid-state separator material testing Unlike a liquid electrolyte, QS solid-state separator has no appreciable reaction with molten lithium metal 2mW/mg

A message from Volkswagen Dr. Frank Blome Head of the Battery Center of Excellence of Volkswagen AGA message from Volkswagen Dr. Frank Blome Head of the Battery Center of Excellence of Volkswagen AG

Previous Lithium Metal Cells Have Been Commercially Unsuccessful Lithium Metal Anode Organics Inorganics Sulfides Performance Requirements Liquids Polymers I II Oxides Performance Implication 1 Charge rate X X X X✓ 4C fast charge Fast charge 2 X X X✓ >800 cycles Cycle life Vehicle life & cost of ownership X X X✓ 30 °C cycling 30 °C operation Cold temperature driving 3 Energy density 4 X X X X X✓ Li-free Anode-free (excess lithium required)Previous Lithium Metal Cells Have Been Commercially Unsuccessful Lithium Metal Anode Organics Inorganics Sulfides Performance Requirements Liquids Polymers I II Oxides Performance Implication 1 Charge rate X X X X✓ 4C fast charge Fast charge 2 X X X✓ >800 cycles Cycle life Vehicle life & cost of ownership X X X✓ 30 °C cycling 30 °C operation Cold temperature driving 3 Energy density 4 X X X X X✓ Li-free Anode-free (excess lithium required)

Today’s Panel Discussions Moderator Battery Science Panel Dr. David Danielson ● Managing Director, Breakthrough Energy Ventures Dr. Tim Holme Dr. Stanley Whittingham Dr. Paul Albertus Dr. Venkat Viswanathan ● Precourt Energy Scholar, Stanford ● Founder and Chief Technology ● Co-Inventor of the Lithium-Ion Battery ● Former head, US DOE ARPA-E ● Battery expert, former lithium- ● Former Head of US DOE EERE Officer, QuantumScape IONCS Solid-State Battery program air researcher ● 2019 Chemistry Nobel Prize Winner Program ● Research Associate, Stanford ● Assistant Professor of Chemistry, ● Assistant Professor of ● Distinguished Professor of Chemistry, ● Ph.D. & MS Mechanical University of Maryland Mechanical Engineering, Binghamton University (SUNY) Engineering, Stanford Carnegie-Mellon University ● Member QuantumScape Science ● Member QuantumScape Advisory Committee Science Advisory Committee Commercial Impact on the EV Market JB Straubel Dr. Jürgen Leohold ● Co-founder and CEO of Redwood Materials ● Board Member, QuantumScape ● Co-founder and Former Chief Technology ● Former Head Group Research, Officer, Tesla Volkswagen ● Former Professor Vehicle Systems and ● Board Member, QuantumScape Electrical Engineering, University of Kassel ● Board Member, QuantumScape 26Today’s Panel Discussions Moderator Battery Science Panel Dr. David Danielson ● Managing Director, Breakthrough Energy Ventures Dr. Tim Holme Dr. Stanley Whittingham Dr. Paul Albertus Dr. Venkat Viswanathan ● Precourt Energy Scholar, Stanford ● Founder and Chief Technology ● Co-Inventor of the Lithium-Ion Battery ● Former head, US DOE ARPA-E ● Battery expert, former lithium- ● Former Head of US DOE EERE Officer, QuantumScape IONCS Solid-State Battery program air researcher ● 2019 Chemistry Nobel Prize Winner Program ● Research Associate, Stanford ● Assistant Professor of Chemistry, ● Assistant Professor of ● Distinguished Professor of Chemistry, ● Ph.D. & MS Mechanical University of Maryland Mechanical Engineering, Binghamton University (SUNY) Engineering, Stanford Carnegie-Mellon University ● Member QuantumScape Science ● Member QuantumScape Advisory Committee Science Advisory Committee Commercial Impact on the EV Market JB Straubel Dr. Jürgen Leohold ● Co-founder and CEO of Redwood Materials ● Board Member, QuantumScape ● Co-founder and Former Chief Technology ● Former Head Group Research, Officer, Tesla Volkswagen ● Former Professor Vehicle Systems and ● Board Member, QuantumScape Electrical Engineering, University of Kassel ● Board Member, QuantumScape 26

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