Analyst Coverage

Ballard Power Systems is followed by the analysts listed below. Please note that any opinions, estimates or forecasts regarding Ballard Power Systems' performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ballard Power Systems or its management. Ballard Power Systems does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Firm                                                                                                        Analyst
Cowen & Company  Jeff Osborne
FBR Capital Markets & Co.  Carter Driscoll
Lake Street Capital Markets  Rob Brown
Rodman & Renshaw  Amit Dayal
Roth Capital Partners  Craig Irwin