QuantumScape(QS) - 2025 Q2 - Quarterly Results

Exhibit 99.1 Q2 fiscal 2025 letter to shareholders July 23, 2025 Dear shareholders, We are excited to provide you with an update on our commercial and operational progress. Expanded PowerCo Deal We have announced an expansion of our existing collaboration and licensing arrangement with Volkswagen Group's battery maker PowerCo. This upgraded deal sees PowerCo contributing additional payments of up to $131M to QS over the next two years to support our joint commercialization activities. These payments are con ...