Mr. Bob Motz reports

HYDROGENICS ANNOUNCES PRICING AND UPSIZING OF PUBLIC OFFERING OF COMMON SHARES

Hydrogenics Corp. has priced its previously announced underwritten public offering of 2,129,031 common shares at a price of $7.75 per share. Net proceeds to the company from the offering are expected to be approximately $15,276,000, after deducting underwriting commissions and other expenses related to the offering, and assuming no exercise of the underwriters' overallotment option. Based upon pricing and investor demand, the company elected to increase the size of the offering from the previously announced $15-million to $16.5-million. The company has also granted to the underwriters a 30-day option to purchase up to an additional 319,354 common shares to cover overallotments in connection with the offering.

Craig-Hallum Capital Group LLC is acting as sole book-running manager for the offering. Roth Capital Partners is acting as co-manager for the offering.

The offering is expected to close on or about Dec. 16, 2015, subject to customary closing conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approvals of the Toronto Stock Exchange and the Nasdaq Global Market.

The company intends to use its net proceeds from the offering primarily for general corporate purposes, including to support any negative cash flows from operating activities.

We seek Safe Harbor.