Wallbox (KCAC) Appoints Anders Pettersson to the Board of Post-Merger Company

Wallbox, a leading provider of electric vehicle (EV) charging solutions, announced today that Anders Pettersson will join the Wallbox Board of Directors upon completion of Wallbox's business combination with Kensington Capital Acquisition Corp. II ("Kensington") (NYSE: KCAC), which is expected in the third quarter of 2021.

Mr. Pettersson brings over 35 years of global experience in sourcing, evaluating and acquiring businesses across the automotive aftermarket, cloud technology, personal safety, and health and wellness industries. This includes prior roles as Chief Executive Officer for several companies, most notably Thule Group, a world leader in products for sports and outdoor activities that is well known in the automotive aftermarket industry. He currently serves as chairman of the Brink Group, a leading towing hitch business in Europe, in addition to serving on the boards of directors of other innovative companies.

Enric Asunción, Co-Founder and Chief Executive Officer of Wallbox, commented, "We are thrilled that Anders Pettersson will be joining our board. His experience, particularly in building powerful brands in the automotive aftermarket through his understanding of both the consumer market and what is required to certify products with automotive OEMs, will help us continue to grow our leading position in residential and semi-public smart charging and energy management solutions."

"Efficient and affordable electric vehicle charging technology, particularly at home and at office sites, will be a critical enabler of EV penetration," said Anders Pettersson. "Wallbox checks all of the necessary boxes with respect to what makes for a successful business model, and I look forward to playing an advisory role as the company grows."

Justin Mirro, Chairman and Chief Executive Officer of Kensington, added, "As a board member for Kensington, Anders' experience has been invaluable in our search for the right business partner. His understanding of how the automotive aftermarket brand market works was one of the many validating factors that supported our decision to enter into the proposed business combination with Wallbox, and he will be a great addition to the combined company board."

"We are already present in 67 countries today and are a go-to for several auto OEMs on a continental, regional, and country basis. However, widespread EV adoption is only in its early stages, and as such our future addressable market is significant in size," continued Mr. Asunción. "We look forward to Anders further amplifying our already deep experience with growing into new markets and with new partners."

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