QuantumScape(QS) - 2024 Q3 - Quarterly Results

Exhibit 99.1 03 Fisci 202 LETTER TO SHAREHOLDERS OCTOBER 23, 2024 QuantumScape Dear shareholders, We'd like to present an update on our progress toward commercialization of our disruptive next-generation solid-state battery technology: QSE-5 B Samples We're excited to report that we have begun producing low volumes of our first B-sample cells, accomplishing our most important goal for 2024, and we have begun shipping these cells for automotive customer testing. These are B samples of QuantumScape's first pr ...