Investor Presentaiton

BALLARD Ballard '3x3' Cost Reduction Plan Stack Hardware Labour Plates '3x3' fuel cell STACK cost reduction project targeting >70% reduction Engineering Design delivering MEA and Plate, performance and lifetime improvements with lower cost materials IDEA Supply Chain developing suppliers and agreements for volume supply Advanced Manufacturing minimising waste (materials and labour) and developing high volume automated manufacturing solutions providing high yield Contribution to Cost Reduction 41% 24% 35% '3 x 3' plan expected to deliver 70%+ cost reduction by 2024 for the stack in 3 key functional areas Power to Change the World Based on 2020 LCS-M1 195-cell stack MEAS 33

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