Umicore's Sustainability and Financial Report

PEM catalyst market to witness exponential growth towards 2040 Global PEM catalyst demand per application (t) - 300 400 tons 30% CAGR 90 tons 24 tons 7 tons 2021 2025 HDV catalyst demand tons Electrolysis catalyst demand tons Source: Umicore market model (HDV incl. MDV) umicore Strong regulatory support for hydrogen economy in Europe and APAC region PEM catalyst demand to grow exponentially as of 2025 driven by increasing penetration of fuel cell HDV as well as electrolysis 2030 2040 → LDV catalyst demand tons Global addressable market of 90t for Umicore by 2030 58

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