Ballard Power Systems Inc. · TSX:BLDP
Ballard Power Systems — Investor Presentation (March 2021)
24 slides from Ballard Power Systems's investor presentation, March 2021
Slide 1: Powering the Future of Rail with Hydrogen
Powering the Future of Rail with Hydrogen March 2021 1
Slide 2: Global decarbonization is putting the focus on hydrogen
Hydrogen is a flexible energy carrier and fuel: Global decarbonization is putting the focus on hydrogen The fight against climate in cars, trucks, buses, change and air pollution is trains and ships driving the demand for fuel cell technology that converts hydrogen in clean electricity in industry
Slide 3: Hydrogen is most competitive in heavy duty motive applications
Hydrogen is most competitive in heavy duty motive applications Our focus is on applications where hydrogen fuel cells have a clear advantage Buses & Coaches Trucks Trains Vessels uel cell technology is needed to decarbonize the heavy duty transportation secto 3
Slide 4: Hydrogen powered trains are poised to disrupt the rail industry
Long range and route flexibility Hydrogen powered trains are poised to disrupt the rail industry The environmental gains of Short refueling time electrification with performance and refueling time comparable to diesel Cost effective route electrification 4
Slide 5: Fuel cell systems are scalable to a variety of routes and applications
Fuel cell systems are scalable to a variety of routes and applications Suitable applications include multiple units for regional passenger service and locomotives for shunting or freight. 5
Slide 6: Cost effective route electrification
Cost effective route electrification “The hydrogen train is already more competitive than electric catenary for a use case with relatively long distance and low frequency.” Hydrogen Council, 2020 6
Slide 7: Nearly any train route served by diesel trains can be served by a hydrail train
Nearly any train route served by diesel trains can be served by a hydrail train • No requirement for overhead catenary infrastructure and power substations • Enables gradual electrification (one train at the time) aligned with budget availability 7
Slide 8: Fuel Cell Innovators for Over 40 Years
Fuel Cell Innovators for Over 40 Years An introduction to Ballard and our unique value proposition 8
Slide 9: Ballard by the Numbers
CINE Ballard by the Numbers a& A Ez 26 years gl Nasdaq oS 4 2 r Bi] Ly 28 years Tsk te pense YEARS 900 1,400 4 employees patents & applications publicly listed Company ‘strategic shareholders = GE ase = 1,300+ 2,200+ 6 TRAIN SSHIPS —_wal.zuweRDENsrY transit buses trucks projects on track in developm
Slide 10: We are vertically integrated manufacturer throughout the fuel cell value chain
We are vertically integrated manufacturer throughout the fuel cell value chain Ballard designs, builds and tests proprietary core technology components to produce optimized fuel cell products for each application • Unit cell components (MEAs, plates…) • Fuel cell stacks • Balance of plant componen
Slide 11: We continuously invest in our technology and product development
We continuously invest in our technology and product development Unit cell Fuel cell stacks Fuel cell modules Fuel cell vehicle integration components MEA, bipolar plates 14th 8th generation application engineering/ after sales generation service Humidified and Freeze-start IP67 >30,000 hours pres
Slide 12: Product development focuses on meeting performance and lifecycle cost targets
Product development focuses on meeting performance and lifecycle cost targets Improved power density Reduced Adaptations catalyst for truck/HD loading Reduced environments lifecycle cost Simplified Increased system operating integration temperature 12
Slide 13: FCgen-LCS Fuel Cell Stack
FCgen®-LCS Fuel Cell Stack • Liquid cooled fuel cell stack designed for heavy duty applications • Design enables higher current density operation, longer life, wider operating pressure window and robust freeze start capability • Latest Ballard heavy duty MEA improves on industry leading durability •
Slide 14: FCmove 8th generation heavy duty module
FCmove™ 8th generation heavy duty module powered by FCgen®-LCS 35% 40% reduction in reduction in total life cycle cost product volume >30,000 35% hr reduction in product weight operating lifetime fuel cell stack 50% -25C is recyclable reduction in freeze start 14 number of components capability
Slide 15: From road to rails
From road to rails • 15+ years of experience in designing heavy duty fuel cell engines • Now on 8th generation of module design • Integration experience with multiple vehicle platforms (buses, trucks, trains) • Proven technology with >75 million kilometers travelled 15
Slide 16: Fuel cell system design considerations for rail
Balance of plant component choice Fuel cell system design Modular, scalable configuration considerations for rail Safety Durability 16
Slide 17: Fuel Cell Rail Module
Fuel Cell Rail Module • 100kW building block fuel cell power modules • Multiple units installed in flexible configuration to meet power requirements • Designed and tested to rail-specific standards • Proven fuel cell stack durability (over 30,000hrs 17 in service) FCveloCity®-XD (CRRC tram project)
Slide 18: Ballard Scope of Supply
BALLARD Ballard Scope of Supply Fuel Cell Power Module Composition Customer Scope (Ballard Scope, Repeating Unit) Air Inlet oy = Air Cleaning Sub-System ieee oe POWER ees Drivetrain MODU LE Management Stn Heat Management Heat Management Power Supply Heat Rejection Hydrogen System Storage
Slide 19: Trains powered by Ballard
Trains powered by Ballard • Light rail systems in China - with OEM partner CRRC (Goaming, China) - light rail in passenger service since January 2020 • Development project underway with Siemens for hydrogen EMU (MIREO) • Hydroflex retrofit project in UK with EMU – Porterbrook • Scottish Rail project
Slide 20: Case Study: Siemens Rail Module Development
Case Study: Siemens Rail Module Development • Multi year agreement to develop a fuel cell system for Siemens Mireo® regional commuter train • Roof top mounted system that leverages Ballard’s FCmove™ module with optimized weight and footprint for maximum range • Prototype module expected to be delive
Slide 21: Case Study: Foshan Gaoming Modern Hydrogen Tram Line
Case Study: Foshan Gaoming Modern Hydrogen Tram Line • Agreement with CRRC Sifang to develop 5 fuel cell trams • Each roof top mounted system is powered by two FCveloCity®-XD fuel cell modules • Robust design is weight and noised optimized, with easy service access and built-in fire suppression syst
Slide 22: Case Study: CP Hydrogen Locomotive Program
Case Study: CP Hydrogen Locomotive Program • CP will develop North America's first hydrogen-powered line-haul freight locomotive by retrofitting a formerly diesel-powered locomotive with Ballard hydrogen fuel cells • The fuel cells will work with battery technology to power the locomotive's electric
Slide 23: Addressing the cost reduction challenge: Ballard's road map to 70% cost reduction
Strategic industrial partnerships will accelerate fuel cell industrialization and integration Supply chain Addressing the cost in China will advance the fuel cell supply chain and reduction challenge: increase access to the automotive supply chain Ballard’s cost reduction initiatives Ballard's ro
Slide 24: Thank you
Thank you Please contact Ballard for more information www.ballard.com Power to Change the World® 24
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