Reported Late Thursday, Quanergy To Appeal Delisting Determination By NYSE

Quanergy Systems, Inc. ("Quanergy" or the "Company"), a leading provider of LiDAR sensors and smart 3D solutions, today announced that it intends to appeal the decision by the staff of NYSE Regulation on November 8, 2022 to commence proceedings to delist the Company's common stock (NYSE:QNGY) and the Company's warrants to purchase common stock (NYSE:QNGY).  NYSE Regulation reached its decision to delist these securities pursuant to Section 802.01B of the NYSE's Listed Company Manual because the Company had fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15,000,000.

Trading in these securities was suspended on the NYSE after the market close on November 8, 2022. As of November 9, 2022, the common stock and warrants have been traded in the over-the-counter ("OTC") market under the ticker symbols QNGY and QNGYW, respectively.

The Company plans to appeal the decision by the staff of NYSE Regulation to a Committee of the Board of Directors of the NYSE (the "Committee"), in accordance with Section 804.00 of the NYSE's Listed Company Manual.