Mr. Hu Yunyun of Weichai reports

WEICHAI POWER HONG KONG INTERNATIONAL DEVELOPMENT CO. LIMITED ANNOUNCES SALE OF COMMON SHARES OF BALLARD POWER SYSTEMS INC

Weichai Power Hong Kong International Development Co. Ltd., through a series of transactions between May 8, 2026, and May 12, 2026, completed the disposition of an aggregate of 6,878,886 common shares of Ballard Power Systems Inc. for an average price of $5.78 per common share and a total disposition price of $39,737,594.05.

Immediately prior to the completion of the disposition, Weichai owned a total of 46,131,712 common shares.

Immediately following the completion of the disposition, Weichai owns a total of 39,252,826 common shares, representing approximately 13.02 per cent of the issued and outstanding common shares.

All of the securities held by Weichai in Ballard, including the common shares, are being held for investment purposes. Weichai may in the future take such actions in respect of its securityholdings in Ballard as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Ballard through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving Ballard, or the sale of all or a portion of such holdings in the open market, or in privately negotiated transactions to one or more purchasers, or Weichai may continue to hold its current positions.

Pursuant to an investor rights agreement, dated as of Nov. 13, 2018, and amended and restated on April 8, 2020, between Weichai and Ballard, in the event that Weichai or a designated affiliate holds at least 15 per cent of the issued and outstanding common shares, Weichai is entitled to nominate two persons for appointment or election to the board of directors of Ballard.

A copy of the early warning report relating to the common shares will be available under Ballard's profile on SEDAR+ and may also be obtained by contacting Weichai.