Mr. David Mucciacciaro reports

BALLARD ANNOUNCES ORDERS FOR 62 HYDROGEN FUEL CELL ENGINES TO POWER SOLARIS BUSES IN EUROPE

Ballard Power Systems Inc. has received multiple purchase orders totalling 62 hydrogen fuel cell engines from long-standing customer Solaris Bus & Coach sp. z o.o., a leading European bus manufacturer deploying hydrogen-powered city buses across the continent. Ballard expects delivery of the majority of the fuel cell engines to occur in 2024.

The hydrogen fuel cell engines will power buses in Germany and Poland. The number of engines ordered by Solaris year-to-date is now close to 350, representing substantial growth over the more than 140 fuel cell city buses that Solaris has deployed with customers in Europe to date.

"The impressive order activity from Solaris give us confidence in our expectations that the current momentum in our bus vertical will continue into 2024," said David Mucciacciaro, Ballard chief commercial officer. "The commercial traction of hydrogen-powered fuel cell buses in Europe proves the market increasingly understands fuel cell bus advantages including range, refuelling time, similar operating practices as diesel, and scalable infrastructure."

About Ballard Power Systems Inc.

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

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