Ballard\'s latest Preso

1. SMARTER SOLUTIONS FOR A CLEAN ENERGY FUTURE MAY 4, 2010

2. This presentation contains forward-looking statements, including estimated revenue and cash flow from operations for 2010, and product pricing and economic payback models included in the Appendices. These forward-looking statements are based on the beliefs and assumptions of Ballard’s management and reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to the specific assumptions set out with those forward-looking statements, such assumptions relate to our financial forecasts and expectations regarding our product development efforts, manufacturing capacity, and market demand, and include matters such as generating new sales, producing and delivering the expected number of units and controlling our costs. These forward-looking statements are being provided to enable stakeholders to understand Ballard’s expectations as at the date of this presentation with respect to its future performance and may not be appropriate for other purposes. These forward-looking statements involve risks and uncertainties that may cause our actual results to be materially different, including, without limitation, the condition of the global economy, the rate of mass adoption of our products, product development delays, changing environmental regulations, our ability to attract and retain business partners and customers, our access to funding, increased competition, our ability to protect our intellectual property, changes in our customers’ requirements, foreign exchange impacts on our net monetary assets and our ability to provide the capital required for product development, operations and marketing. For a detailed discussion of these risk factors and other risk factors that could affect Ballard’s future performance, please refer to our most recent Annual Information Form. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements, other than as required under applicable legislation. All amounts are in U.S. dollars, unless otherwise noted. Forward Looking Statements

13. P A G E 10 2010 Results 1 Growth relative to December 31, 2009 USD Millions Q1 2010 Pre-Consolidation (Excludes Dantherm Power) % Chg Vs. Q1 2009 Q1 2010 Consolidated GROWTH Revenue $ 11.2 +38% $11.9 Fuel Cell Product Shipments (Units) 328 +73% 328 12-Month Order Book $29.0 +29% 1 $29.0 PROFITABILITY Operating Expense $9.7 -25% $12.1 Cash Flow from Operations ($11.5) -33% ($14.2) EB ITD A Loss $7.6 -56% $8.6 Net Loss $9.0 -53% $10.0

17. SMARTER SOLUTIONS FOR A CLEAN ENERGY FUTURE MAY 4, 2010