Mr. David Mucciacciaro reports

BALLARD ANNOUNCES 15 MW ORDER FOR STATIONARY POWER MARKET

Ballard Power Systems Inc. has received an order for 15 megawatts (MW) of fuel cell systems from a united Kingdom-based company specializing in renewable off-grid power generation. Ballard expects to deliver 150 x FCmove-HD+ 100-kilowatt systems beginning in late 2024 and continuing through 2025.

The current order of 15 MW of fuel cell systems follows prior cumulative orders for roughly five MW of fuel cell systems from this customer, illustrating substantial growth in Ballard's supply relationship and the proven performance of Ballard's fuel cell technology in stationary power applications. The purchase order is the first order under a new multiyear supply agreement. The agreement also provides the customer an option to purchase up to an additional 296 systems by March, 2026, which, if fully exercised, would bring the total number of systems ordered to 446.

"We are thrilled to expand our relationship with this exciting customer and support them in the next phase of their growth as they scale deployments of their innovative hydrogen power units," said David Mucciacciaro, Ballard's chief commercial officer. "We see growing demand to replace traditional diesel generators with fuel cell systems that can provide resilient, predictable, clean and quiet solutions for on-site power generation in a variety of applications, including EV [electric vehicle] charging, filming, events and construction sites."

About Ballard Power Systems Inc.

Ballard Power's 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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