Forward-Looking Statements
This current report 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, anticipate, 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 current report, including those regarding our expectations for full year 2021 revenue, our expectations for growth in the coming years including the expansion of our portfolio of smart LiDAR solutions, our
anticipated market acceptance of our products, including LiDAR technology and perception software, CCACs ability to consummate the proposed Business Combination, anticipated timing of the proposed Business Combination, and the combined
companys future products and growth are forward-looking statements. These statements are based on various assumptions, whether or not identified in this current report, and on the current expectations of the respective management of CCAC and
Quanergy and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CCAC or Quanergy. Potential risks
and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and
legal conditions; the inability of the parties to successfully or timely consummate the proposed Business Combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that
could adversely affect the combined company or the expected benefits of the proposed Business Combination or that the approval of the shareholders of CCAC or Quanergy is not obtained; the inability to complete the PIPE offering in connection with
the Business Combination; failure to realize the anticipated benefits of the proposed Business Combination; risk relating to the uncertainty of the projected financial information with respect to Quanergy; the amount of redemption requests made by
CCACs shareholders; the overall level of consumer demand for Quanergys 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 Quanergys securities on the New York Stock Exchange; the financial strength of Quanergys customers; Quanergys ability to implement its business strategy; changes
in governmental regulation, Quanergys exposure to litigation claims and other loss contingencies; disruptions and other impacts to Quanergys business, as a result of the COVID-19 global pandemic
and government actions and restrictive measures implemented in response; stability of Quanergys 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; Quanergys ability to protect patents, trademarks and other intellectual property
rights; any breaches of, or interruptions in, Quanergys information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations;
Quanergys ability to utilize potential net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. The foregoing list of potential risks and uncertainties is not exhaustive.
More information on potential factors that could affect CCACs or Quanergys financial results is included from time to time in CCACs public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the other documents CCAC has filed, or will file, with
the SEC, including the final amended registration statement on Form S-4 that will include proxy statements/prospectus that CCAC will file with the SEC in connection with CCACs solicitation of proxies for
the meeting of shareholders to be held to approve, among other things, the proposed Business Combination. If any of these risks materialize or CCACs or Quanergys assumptions prove incorrect, actual results could differ materially from
the results implied by these forward- looking statements. There may be additional risks that neither CCAC nor Quanergy presently know, or that CCAC and Quanergy currently believe are immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. In addition, forward- looking statements reflect CCACs and Quanergys expectations, plans or forecasts of future events and views as of the date of this current report. Neither CCAC nor
Quanergy gives assurance that either CCAC or Quanergy, or the combined company, will achieve its expectations. CCAC and Quanergy anticipate that subsequent events and developments will cause their assessments to change. However, while CCAC and
Quanergy may elect to update these forward-looking statements at some point in the future, CCAC and Quanergy specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as
representing CCACs or Quanergys assessments as of any date subsequent to the date of this current report. Accordingly, undue reliance should not be placed upon the forward-looking statements.