Slide 1: QuantumScape Corp (NASDAQ: QS) Investor Presentation
QuantumScape Corp (NASDAQ: QS) Investor Presentation February 2026 QUANTUMSCAPE CONFIDENTIAL
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws based on management’s current expectations, assumptions, and available information about future events as of the date of this letter. All statements, other than histor
Slide 3: QuantumScape History
QuantumScape History 2012 2018 2024 Volkswagen Group (VW) VW joint venture (JV) formed PowerCo collaboration partnership begins and licensing deal World-first validation of full cell cycling reliably with lithium- Begins shipment metal at automotive rates of QSE-5 B-sample prototype in low volumes Q
Slide 4: QS & PowerCo Debut Solid-State Batteries in Ducati Motorcycle
QS & PowerCo Debut Solid-State Batteries in Ducati Motorcycle World premiere: first vehicle powered by QS solid-state batteries at IAA Mobility The modified Ducati V21L race motorcycle powered by QS solid-state technology contains a first-of-its-kind battery system designed by specialists at VW Grou
Slide 5: QSE-5 – First Commercial Product
QSE-5 – First Commercial Product ~5 Ah cell with energy density 844 Wh/L capable of <15-min fast charge (10-80% SOC) Specifications and performance characteristics of final QSE-5 product will depend on the final design of the battery package and may differ from those of initial low-volume samples. 5
Slide 6: The QS Strategic Blueprint
The QS Strategic Blueprint Key Elements 1 Demonstrate QS technology in real-world applications 2 Build a global ecosystem of partners 3 Operationalize capital-light business model 4 Enhance technology platform & unlock new markets 6
Slide 7: Conventional Lithium-Ion Batteries: Rate of Improvement Has Plateaued
Conventional Lithium-Ion Batteries: Rate of Improvement Has Plateaued The fundamental limits of lithium-ion energy density are approaching Energy Density (Wh/L) of Lithium-ion Batteries Over Time Consumer Preferences for EV Adoption 1000 Energy / Capacity 900 > 375-mile range 800 Volumetric Energy D
Slide 8: QS Anode-free Architecture
QS Anode-free Architecture Improved energy density, fast charging and safety Conventional Li-ion Battery QS Solid-State Battery Discharged Charged Anode Current Collector (as manufactured) Graphite / Silicon Anode Liquid Electrolyte Porous Separator Cathode Active Material Liquid Electrolyte Cathode
Slide 9: QS’s Anode-Free Approach: Key Advantages
QS’s Anode-Free Approach: Key Advantages Enables simultaneous improvement on key performance metrics + Performance + Manufacturability Energy Density Cycle Life Cost (at scale) Significantly increases volumetric and Can improve cycle life by reducing Eliminates anode host material and gravimetric en
Slide 10: Enabling a Shift in the Energy-Power Performance Frontier
Enabling a Shift in the Energy-Power Performance Frontier QS tech targets step-function improvement on energy density and power vs leading conventional li-ion QS Anode-free Li Metal Targets † 0 5 10 QS Larger Format QSE-5 15 Charge Time 10-80% [min] Porsche Taycan 2020 QS ~5Ah Format 20 Mercedes CLA
Slide 11: Fast Charge Capability
Fast Charge Capability QSE-5 B-Sample fast charge capability from 10-80% SOC in <15 minutes 100 QSE-5 80 12.2 minutes Commercial Target < 15 min State of Charge [%] 60 40 20 Measured at 45 °C 0 0 5 10 15 20 25 30 35 40 Time [min] C/3 (1.87 mA/cm2) charge rate from 0-10% SOC, 4C (22.4 mA/cm2) charge
Slide 12: QS A0 Prototype Cycle Life
QS A0 Prototype Cycle Life Tested by Volkswagen Group’s PowerCo: >95% energy retention at >1,000 full cycle equivalents “The final result of this development could be a battery cell that enables long ranges, can be charged super-quickly Discharge Energy [%] and practically does not age. We are convi
Slide 13: Eliminating Anode Materials & Manufacturing Costs
Eliminating Anode Materials & Manufacturing Costs We target a cost advantage at scale on a like-for-like basis vs conventional li-ion battery tech Collector proprietary solid-state Cathode Material electrolyte-separator Cooling / Roll Slitting / Solvent Mixing Drying Drying Pressing Notching Electro
Slide 14: QS Separator Production Roadmap
QS Separator Production Roadmap Pairing QS technology with industry partners’ manufacturing expertise QS Separator Heat Treatment Speed + ~25x Ecosystem Partners ~8x Collaborations to pursue high-volume manufacturing of Previous Gen Raptor Cobra ceramic separators for QS’s solid-state battery techno
Slide 15: Competitive Landscape: Lithium-Metal Anodes
Competitive Landscape: Lithium-Metal Anodes Compromised Test Conditions SUPERCHARGER 1 2024 One or more of the following: Low Charging Current Density Charge C-rate [1/hr] Slower than supercharger Excess Lithium Low energy density 0.5 2022 2020 Low Cycle Life 2023 <800 cycles 2023 2021 2024 2015 202
Slide 16: VW Group Relationship Provides Collaboration Template for Other Auto OEMs
VW Group Relationship Provides Collaboration Template for Other Auto OEMs Deep Relationship with VW Group and PowerCo Other Commercial Agreements 2012 $380M+ $150M+* 40-85GWh Joint-Development Agreements Beginning of Cumulative Conditional Cash Anticipated Partnership Investment Inflows production v
Slide 17: Two IP Monetization Pathways
Two IP Monetization Pathways Capital-light pathway to industrialize QS solid-state technology platform 1 Collaboration & Development 2 High-Touch Licensing Opportunity: Monetize customer-specific Opportunity: Unlock long-term, high gross development activities, generating near-term margin recurr
Slide 18: Partner Ecosystem Accelerates Commercialization Pathway
Partner Ecosystem Accelerates Commercialization Pathway QS is the technology innovator at the center of a growing global network of partners S E PAR AT O R S U P P LY C H A I N C E L L S U P P LY C H A I N Technology, Design & Process IP Materials Suppliers Other Component Suppliers Separator Suppli
Slide 19: QuantumScape Roadmap
QuantumScape Roadmap 2026 2025 Demonstrate Scalable Production with the Eagle Line 2024 Advance Automotive Commercialization Expand Commercial Engagements Expand into New High-Value Markets PowerCo Collaboration & Licensing Deal Announced Install Higher-Volume Cell Go Beyond QSE-5 Production Equipme