QuantumScape Corp

Item 1.02 Termination of a Material Definitive Agreement. On July 8, 2025, QuantumScape Battery, Inc. (the "Company"), a wholly owned subsidiary of QuantumScape Corporation ("Parent"), and MLC V SC - Automation, LLC (the "Landlord") entered into a Lease Termination Agreement (the "Termination Agreement") to terminate the Company's lease (the "Lease") for certain premises outside of the Company's headquarters, consisting of approximately 80,641 rentable square feet of space located in San Jose, California (the "Premises"), effective as of August 1, 2025 (the "Lease Termination Date"). The original term of the Lease commenced on November 1, 2021 and was to expire on September 30, 2032. Pursuant to the Termination Agreement, the Company, and Parent as guarantor, will have no further obligations to the Landlord for the Premises following the Lease Termination Date, subject to the Company's payment of a Lease termination fee of $1.1 million, a brokerage fee of $1.2 million, and the surrender of the Premises. This early termination of the Lease results in a smaller operational footprint consistent with the Company's technology licensing focus, relieving the Company of approximately $18.7 million in future minimum payments under the Lease. The Company continues to lease other properties from an affiliate of the Landlord. The foregoing is only a brief description of the material terms of the Termination Agreement, does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the Termination Agreement that will be filed as an exhibit to the Company's quarterly report on Form 10-Q for the quarterly period ended June 30, 2025.