Quanergy Systems (CITIC Capital Acquisition) ^{Priced, NYSE: QNGY.XX}

While we may pursue a business combination target in any business or industry, we intend to search globally for companies in the energy efficiency, clean technology and sustainability sectors, with a focus on companies that we believe can be positioned for success in China, as well as other markets in Asia and beyond. We believe that China is an important economic catalyst for growth and the spread of technology through markets across Eurasia, which itself is an evolving marketplace and connects more than fifty countries across three continents. We believe that China is currently positioned to capture increasing trade flow while benefiting from improved infrastructure and logistics and supply channels. We intend to focus on companies that have the potential for success in China, Asia and beyond, as we believe that such companies will benefit from a growing middle class in these markets that demands a higher standard of living and environment in these markets. In particular, we intend to focus on companies which will benefit from capital for expansion and which address demand for sustainable growth across the region. We believe this growth will be driven by increasing commercial connectivity across markets through emerging technologies.