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Investor Presentaiton

Stationary power¹ Key Partners & Customers CAT (US), HDF (France), Fusion (EU), Telia (Norway), Telenor (Norway), Motorola (Denmark), Norlys (Denmark), Vattenfall (Sweden) Fuel Cell Size 1.7-5kW; 200kW 1.5MW Deployed / In-Development ~4 MW / 7.5MW • Value Proposition: Fuel cell backup systems replace or complement diesel generators as a reliable, flexible, and zero emissions solution due to high efficiency, quick ramp, and small footprint. Renewables-electrolysis-hydrogen storage fuel cell systems can deliver reduced energy costs, improved grid stability, increased penetration of renewables and greater energy independence. • • PEM fuel cells offer superior performance (efficiency & O&M) to traditional diesel generators and with zero GHG emissions • High efficiency: 50 - 60% electrical efficiency at optimal operating range • Quick ramp: <2 minutes from cold start & <30 seconds from standby to 100% power • Low maintenance costs & long lifetime: >15 years documented in the field • Small footprint: 1.2MW fuel cell < 7m² (diesel ~12m², battery ~10x footprint) Current development: • • Kilowatt scale fuel cells for critical infrastructure backup applications (5 - 50 kW) in commercial operation since 2007. 400+ systems under extended lifetime warranty service contracts for 10+ years. Megawatt scale fuel cells for backup & power generation - zero emission alternative to existing diesel gen sets → critical for companies to achieve emissions targets CAT / Microsoft (USA) - 1.5MW system for Microsoft datacenter . 23 • Fusion Fuel (Portugal) - 200kW solar hydrogen peak shaver facility • HDF (France) - 3MW containerized baseload hydrogen power plant 1 See Slide Notes Hydrogen Addresses Renewable Energy Storage Challenges Renewable Energy Energy H₂O Electrolyzer H₂ Compression, Distribution & Storage H2 BALLARD Fuel Cell Energy H₂O BALLARD™
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