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Investor Presentaiton

FCEV provide a strategic value proposition for heavy-duty mobility Fuel cell electric vehicles (FCEVS)... Are the best zero-emission diesel ICE alternative for medium & heavy-duty mobility: Similar payload to diesel truck . Quick refueling to maximize availability Longer range than battery electric to maximize utilization Costs are rapidly decreasing & are expected Diesel Refuel: 5 min Fuel Cell . to soon breakeven with BEV and ICE (see slide 11) Offer solution for disproportionately high emissions profile of hard-to-abate mobility Fuel Cell Trucks: the Best Zero-Emission Alternative to Diesel longest range Refuel: 15 min L H₂ minimal payload impact I long range 8 → Ballard's key verticals of bus, truck, rail, marine, off-road & power generation Buses & trucks make up ~5% US vehicles & account for ~25% of transportation GHG emissions¹ 1 See Slide Notes Battery Recharge: 3-5 Hours significant payload impact I shorter range BALLARD TM
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