Mr. David Mucciacciaro reports

BALLARD ANNOUNCES ORDERS FOR OVER 170 HYDROGEN FUEL CELL ENGINES TO POWER SOLARIS BUSES IN EUROPE

Ballard Power Systems Inc. has received multiple purchase orders totalling 177 hydrogen fuel cell engines from long-standing customer Solaris Bus & Coach sp zoo, a leading European bus manufacturer deploying hydrogen-powered city buses across the continent. Ballard expects limited initial deliveries of the 177 fuel cell engines in 2023, with the remainder to ship from 2024 through 2026.

The orders include the supply of fuel cell engines to support the largest announced deployment of a fleet of fuel cell city buses in Europe, with 127 Solaris fuel cell buses to be deployed in Bologna, Italy. Ballard also received orders for a further 50 modules to power Solaris fuel cell buses in Germany and Italy. The number of engines ordered by Solaris year to date now exceeds 270, representing substantial growth over the more than 140 fuel cell city buses that Solaris has deployed with customers in Europe to date.

"We're thrilled to see the continued success of our partner Solaris as they secure tender wins for fuel cell city bus deployments in Europe, further validating the value proposition of hydrogen-fuelled buses to transit operators in the region," said David Mucciacciaro, Ballard chief commercial officer. "There is growing interest in Europe for larger deployments of zero-emission, fuel cell electric buses that offer range, refuelling time and operating rhythm consistent with legacy diesel bus experience, while also avoiding the challenges and costs associated with scaling recharging infrastructure for larger fleets of battery electric buses."

About Ballard Power Systems Inc.

Ballard Power Systems' vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM (polymer electrolyte membrane) fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels and stationary power.

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