Fuel cell for heavy duty transportation; a compelling value proposition

Daljit Bawa Jun 27, 2019

Power to Change the World® 1 BALLARD.COM Publicly listed 4 Strategic 650 Company shareholders 650 Employees 2,000 24 years Patents & 26 years 1979-2019 Applications

136(857)* 300(903)* 4 train 3 ships 12,000 Transit Trucks projects on Forklifts in buses in delivering track in operation development service goods

Passed $80m Delivered Produced 14 million km >30,000hrs automobile 5 million of service for Operation for fuel 850MW cell stack in stack MEAs modules development of Fuel Cell operating in London BUSES program products buses

* In construction or commissioning phase

Power to Change the World® 2 BALLARD.COM Fuel cell technology is needed to achieve deep decarbonization of transportation.

Power to Change the World® 3 BALLARD.COM Power Fuel cells offer Range superior Payload zero-emission Fast refueling performance for heavy duty vehicles.

Power to Change the World® 4 BALLARD.COM Fuel cell buses and commercial trucks are starting to be deployed at scale in and Europe.

Power to Change the World® 5 BALLARD.COM There will be more than 2,000 FCEB on the road by 2021

300+200+ 2000+

Power to Change the World® 6 BALLARD.COM 500 Fuel Cell Trucks in Shanghai

The World’s Largest Deployment of Commercial Trucks

• Location: Shanghai, China • Application: Logistics & Distribution • Operator: Shanghai Sinotran New Energy Automobile Co., Ltd • Truck OEM: Dongfeng Motor Corporation • Systems Integrator: Shanghai Re-Fire Technology Co., Ltd • Fuel Cell Engine: Re-Fire Caven 3 with Ballard 9SSL Stacks • Truck Size: 6.4m in length/7.5t • Total Mileage : >8 M kilometers as of mid June,2019

Power to Change the World® 7 BALLARD.COM 600 Fuel Cell Logistics Trucks in Shenzhen

• Status: Ready for operation • Location: Shenzhen, China • Size: 7.6m in length/8.7t • Range: 400km • OEM: Zhongtong Bus Corporation - • Fuel Cell Engine: Ballard MD30 • Systems Integrator: Shanghai Edrive Co., Ltd • Operator: Shenzhen Hongxu New Energy Automobile Operating Company • HRS: Shalang HRS, Zhongshan

Power to Change the World® 8 BALLARD.COM The case for fuel cell buses: the other electric bus

Power to Change the World® 9 BALLARD.COM Hydrogen fuel cell buses are electric buses. • Same electric drivetrain as battery electric buses • Battery-fuel cell hybrid configuration • Fuel cell module is on-board battery charger • Most OEMs offer common platform for their zero-emission buses

Power to Change the World® 10 BALLARD.COM = energy storage (1250kWh)

A fuel cell electric bus

= on board charging system

Power to Change the World® 11 BALLARD.COM Fuel cells enhance the performance of electric buses.

Power to Change the World® 12 BALLARD.COM Fuel cell electric buses have demonstrated performance in service • More than 15 years of road-experience • Over 9M miles in service • Bus availability >85% • FC module availability > 97% • >30,000hrs stack durability • Operation in challenging routes and climates

Power to Change the World® 13 BALLARD.COM Technology advances will enhance value proposition for fuel cell buses

Lower fuel Longer Increased fuel Better cell module stack cell module operating total life life time power density range cycle cost (freeze start)

Power to Change the World® 14 BALLARD.COM 8th generation fuel cell power module Family of fuel cell power modules for heavy duty commercial vehicles

Culmination of decades of fuel cell technology innovation and market leadership

Power to Change the World® 15 BALLARD.COM FCmove™: Next Generation Product Enhancements

35% 35% 40% reduction in reduction in reduction in total life cycle cost product weight product volume

>30,000 hr 50% -25C operating lifetime reduction in freeze start capability number of components

Power to Change the World® 16 BALLARD.COM We have a dedicated service team. • Call center (24 hours a day, 7 days a week) • Regional after-sales service teams • Spare parts depots in USA, Canada, Europe and China • Training center & repair center (Canada and Denmark)

Power to Change the World® 17 BALLARD.COM More and more OEMs are offering different fuel cell bus options

Power to Change the World® 18 BALLARD.COM California is leading US deployments • Over 50 buses in service. SARTA, AC Transit, OTCA and Sunline lead the way • 2 FCEB OEMs: (Altoona tested) • New Flyer (40ft & 60ft) • ElDorado National (40ft) • Funding from FTA (LoNo program), VW settlement, CARB

Power to Change the World® 19 BALLARD.COM Fuel cell bus deployment is growing in Europe

. Today there are 63 fuel cell electric buses in 10 cities . There will be more than 1,000 in service by 2021 supported by EU programs . Joint procurement is driving price of buses to <€400k with volume production (100’s)

Power to Change the World® 20 BALLARD.COM Fuel cell electric bus are starting to be deployed in China • More than 250 buses in passenger service with availability > 90% • Several OEMs are developing fuel cell buses: Feichi, , , Foton, Yinlong • 20 different FC bus models on MIIT list • Over 3,000 FC buses are expected on the road by 2022

Power to Change the World® 21 BALLARD.COM Hydrogen is a fuel similar to CNG with no carbon • Safe and manageable • Supplied as compressed gas or liquid • Can also be produced on-site • Hydrogen pipeline available in some parts of California and Texas • Supply at a fixed price over a period of time from multiple suppliers

Power to Change the World® 22 BALLARD.COM Hydrogen fueling stations: flexible solutions for each depot

OCTA Station ~ 60’ x 30’ (up to 40 buses) AC Transit – Emeryville Liquid hydrogen delivery On site H2 production (Electrolyser)

Transit bus depot (Europe) Hydrogen storage & dispensing area Compressed H2 delivery (55”x45” – 20 buses)

Power to Change the World® 23 BALLARD.COM Power to Change the World® 24 BALLARD.COM The Challenge for 100% ZEB fleet deployment

Power to Change the World® 25 BALLARD.COM Several companies are now offering turn-key H2 fueling solutions including equipment, fuel supply and service

Power to Change the World® 26 BALLARD.COM Summary

Fuel cell technology has been demonstrated and validated in actual service for many years

Fuel cell electric buses meet operation requirements of transit fleet today

Fuel cell and hydrogen reduce adoption risk for zero-emission bus fleet

Power to Change the World® 27 BALLARD.COM We deliver fuel cell power for a sustainable planet

www.ballard.com

Power to Change the World® 28 BALLARD.COM