The two best responses to a Project Manager who has raised concerns about progress and money spent are:

Promote transparency by sharing the Product Backlog and ensuring the Project Manager has access. This helps communicate what is needed to improve the product, what is planned for each Sprint, and what has been done so far. It also helps align expectations and priorities among different stakeholders.

Have a discussion with the Project Manager; share the current impediments and forecast for the Sprint. This helps address any issues or risks that may affect the delivery of value and the achievement of the Sprint Goal. It also helps provide feedback and adaptation based on the empirical evidence and data.

Other options, such as showing the Earned Value Analysis (EVA) report, Scrum does not have Project Managers so disregard their concerns, or sharing the last stakeholder briefing document prepared by the Product Owner, are not the best responses as they do not reflect how to effectively collaborate and communicate with the Project Manager or how to apply the Scrum values and principles.

References:

[Scrum Guide], page 11, section “Product Backlog”

[Scrum Guide], page 15, section “Sprint Backlog”

[Scrum Guide], page 10, section “Increment”

[Scrum Guide], page 5, section “Scrum Theory”

[Scrum Guide], page 4, section “The Scrum Team”