Notes: October 04, 2022 -- Quanergy Systems, Inc., (NYSE:QNGY) (“Quanergy” or the “Company”) a leading provider of LiDAR sensors and smart 3D solutions, announced today that its Board of Directors has approved a reverse stock split of its outstanding shares of common stock (the “Common Stock”) at a ratio of 1-for-20 (the “reverse stock split”). The reverse stock split will be effective at 4:01 p.m. (EDT) on October 6, 2022, and shares of Common Stock will begin trading on a split-adjusted basis when the New York Stock Exchange (the “NYSE”) opens on Friday, October 7, 2022. The Common Stock will continue to trade on the NYSE under the trading symbol "QNGY," but will trade under the following new CUSIP number starting October 7, 2022: 74764U 203. The reverse stock split was approved by Quanergy’s stockholders at the special meeting of stockholders held on October 3, 2022. Further, as a result of the reverse stock split, the number of shares of Common Stock issuable upon exercise of the Company’s (i) 7,520,000 private warrants (the “private warrants”) originally issued in a private placement in connection with the initial public offering of CITIC Capital Acquisition Corp. (“CCAC”) and (ii) 13,799,987 warrants (the “public warrants” and, together with the private warrants, the “warrants”) originally issued in the initial public offering of CCAC and traded on the NYSE under the symbol QNGY.WS, will be also be reduced at a ratio of 1-for-20. The exercise price of each warrant will increase from $11.50 per share to $230.00 per share.