Experienced Finance and Operations Executive Lisa Kelley Joins Quanergy Board of Directors

Industry veteran brings strategic vision to leading provider of LiDAR solutions

Quanergy Systems, Inc., (NYSE:QNGY) a leading provider of LiDAR sensors and smart 3D solutions, announced today that Lisa M. Kelley, an experienced finance and operations executive, has joined the company's board of directors. Kelley brings to the board more than 25 years of success in the electronics, telecommunications, manufacturing and consumer goods industries.

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Quanergy appoints Lisa Kelley to Board of Directors (Photo: Business Wire)

As a member of Quanergy's board, she will sit on the compensation and audit committees, leveraging her audit committee financial expertise as well as her background as a certified public accountant (CPA). In addition to being a CPA, Kelley has an MBA from the University of Wisconsin.

Currently, Kelley provides consulting, board governance and fractional CFO services. Her previous roles include vice president of global logistics operations and chief audit executive at AVNET, a Fortune 500 distributor of electronic components and services. She's also held senior executive roles at Asurion, Brightpoint and Plexus Corp., with a track record of success in financial discipline, leadership, strategy, vision, growth, organizational restructuring, and alignment.

Lisa Kelley, member, board of directors, Quanergy Systems, Inc., said: "Quanergy's innovative and leading technology, vision and growth stand out from the crowd. As a board member, I am ready to work with the strong leadership team to further the company's upward trajectory and bring the power of 3D LiDAR to more organizations."

Kevin J. Kennedy, CEO, Quanergy Systems, Inc., said: "Lisa's extensive, well-diversified financial and management experience will be a valuable asset to our board. Her extensive work with publicly traded multi-national companies, combined with years of experience in SEC reporting and audit committees, makes her an ideal strategic partner for Quanergy as our company continues to grow."

For more information, visit www.quanergy.com.

About Quanergy Systems, Inc.

Quanergy's (NYSE:QNGY) mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people's experiences and safety. Quanergy has developed the only true 100% solid-state CMOS LiDAR sensor built on optical phased array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Through Quanergy's smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more. Quanergy solutions are deployed by nearly 400 customers across the globe. For more information, please visit us at www.quanergy.com.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," "project," "will likely result" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements, including statements regarding the use of our LiDAR sensors in industrial segments and port automation systems and the ability of our sensors to reduce false alarm rates. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside Quanergy's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; the overall level of consumer demand for Quanergy's products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the ability to maintain the listing of Quanergy's securities on the New York Stock Exchange; the financial strength of Quanergy's customers; Quanergy's ability to implement its business strategy; changes in governmental regulation, Quanergy's exposure to litigation claims and other loss contingencies; disruptions and other impacts to Quanergy's business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of Quanergy's suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on Quanergy and its suppliers and customers; Quanergy's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, Quanergy's information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; Quanergy's ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and other risks and uncertainties indicated in Quanergy's filings with the U.S. Securities and Exchange Commission. In addition, forward-looking statements reflect Quanergy's expectations, plans or forecasts of future events and views only as of the date of this press release. Quanergy anticipates that subsequent events and developments will cause its assessments to change. However, while Quanergy may elect to update these forward-looking statements at some point in the future, Quanergy specifically disclaims any obligation to do so, except as required by law.

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